A Cash Account or Cash Management Account is a type of bank account that’s used primarily for investing. It typically has no set up or monthly fees, earns interest on your cash and can feed into external platforms such as OpenMarkets.
Having a 'linked' Cash Account means it is integrated with your OpenMarkets trading account for settlement of your trades. It also allows us to display your daily cash balance on the trading platform, so you can see how much money you have before placing a buy order.
To settle transactions on your OpenMarkets trading account, you’ll need a linked cash account from one of our approved providers. If you don’t have an existing account, OpenMarkets will help establish one for you.