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Bankwest 7.5% at call via internet?

 

HSBC 7.88% 3 mths new customers over $200,000

 

RABO ?

 

ING ?

 

Does anyone have suggestions/comments on SAFETY / customer service / history / TRAPS

SPECIAL OFFERS etc negative & positive comments please and appreciated TIA

 

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Thanks bigernie yes I always laugh hysterically (hair pulling/teeth gnashing etc) at any mention of CBA thanks for that!!!!!

It was your post that promted mine - I've been cba client and experienced their wonderful customer service and services already lol.

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I would like to draw everyone's attention to the following link at Eureka Report (free section)

 

http://www.eurekareport.com.au/iis/iis.nsf...hh?OpenDocument

 

Choose the account/features you want and it automatically selects all available options in the market place. A really useful tool.

 

ING and BankWest both come highly recommended.

 

Regards

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  • 4 months later...

Anybody getting mail from Commsec to change from a CDIA to there CommSec Cash Management account.

 

Seems like they want to give me interest on my cash balance but this seems very unlike Commonwealth. I think Commsec are great, but Commonwealth certainly aren't the best bank going around for anything else, what's the catch? Anybody changed over?

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QUOTE (bailej03 @ Friday 27/06/08 05:18pm)

You're supposed to trade with them:

 

Let's say you turn over half of your account balance on average once a month - most online traders would trade at least that frequently.

 

Assume they get 0.1% brokerage per trade, in and out makes 0.2%, times 12 months makes 2.4% which you feed back to CBA, rather than another bank-cum-broker. In the example using 50:50 cash:shares, they'd pay you about as much as you get on a term deposit on half of your total account balance, but you give them at least 2.4% back.

 

Now remember it's the cash balance only that they pay that interest on. That means their average trader will have much more than 50% invested in shares at any given time. Change the ratio to 20:80, and you'll pay far more in brokerage than you get for the cash balance, even in absolute terms.

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In reply to: bailej03 on Friday 27/06/08 07:18pm

I don't now whether it is a "catch" as such but if you use Netbank then I don't think you can "see" it in Netbank ie not linked to your other accounts which may or may not be an issue for you depending on how you manage/move your funds around, pay bills, etc. Maybe more an inconvenience than a catch.

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No catch - it's a good interest rate on the CASH in the account.

 

BUT - the catch for me is that there is no NetBank access. My current CDIA can be accessed with NetBank and I can transfer money, pay bills, all that sort of stuff. But according to the comparison table that I looked at on the CommSec website, there is not NetBank access with this new cash account.

 

That's a deal breaker for me.

 

 

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In reply to: NightStalker on Friday 27/06/08 09:55pm

 

Me too. I use the CDIA account as my regular bank account and have it linked to my credit card. And there are no account keeping fees - brilliant. The Comsec account just doesn't have the flexibility I need (no Netbank, no linking to the credit card) so I'll forgo the higher interest rate and stay where I am.

 

 

 

 

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