The Cash Hub is where you hold your cash between investments, as well as how you pay for new investments and fees associated with your investing activity and insurance cover.
The benefits of the Cash Hub include:
- seamless transfer of funds between investments and across settlement cycles
- greater flexibility around cut off times for cash payments
- improved reporting on overnight transfers
- real time reporting of transactions and balances
The Cash Hub operates like any other cash account, so you can:
- Deposit funds from any nominated bank accounts via direct debit
- Deposit funds via BPay
- Withdraw funds to any nominated bank accounts via direct credit*
*SMSF and Direct Investing clients only; does not apply to Complete Super clients
SMSF clients can also:
- Request bank cheques
- Direct deposit of rental income
- Direct debit of insurance payments
Interest is paid on balances held in the Cash Hub.
How it works
Your Cash Hub is set up along with your account, so it's ready to go as soon as you are. All you need to do is transfer in some funds from your nominated bank account and you're ready to invest. Your Cash Hub balance is shown in your dashboard along with all your other investment balances.
Things you should know
The Cash Hub is a custodial account. This means money is held collectively in the name of a custodian, not in individual accounts in individual names. This allows the custodian to use the money as directed within tight timeframes (for example, settle trades or fund purchases) while the ownership of the money remains with the individual.
You need a minimum ongoing balance of $5,000 in your Cash Hub (or, for Complete Super clients, a minimum ongoing balance of $5,000 in one or more of the Ready-made Portfolios and/or Cash Hub). We use these funds to cover fees associated with your investing activity and insurance cover.
Complete Super clients are not able to transfer cash out of the Cash Hub due to legislation regulating access to money held in retail super accounts.
If you have a Direct Investing or Flexible SMSF account, you can either use the Cash Hub for your cash needs, or nominate an external bank account to fund your investments and associated fees.