What is an OpenMarkets ANZ Cashactive Trust Account?
An OpenMarkets ANZ Cashactive Account is a trust account held and operated by OpenMarkets (in accordance with the Australian client monies trust account rules) for the purpose of settling transactions on your OpenMarkets trading account.
The account is held in the name of OpenMarkets and includes a unique sub-register number linked to your trading account with funds beneficially held by you and recorded separately. However, unlike a normal bank account, you will not have direct access to operate the account. Withdrawals from the account can be made as set out below.
How do I open an OpenMarkets ANZ Cashactive Trust Account?
Simply indicate in the Linked Cash Account section on the OpenMarkets Account Application that would like to use the OpenMarkets ANZ Cashactive Trust Account to settle transactions made on your trading account.
How will I know the details of my account?
The OpenMarkets ANZ Cashactive Trust Account BSB and account number will be provided to you in our Welcome Email, along with your trading account and platform login information.
Depositing Funds (electronic transfers only)
Simply transfer funds into the OpenMarkets ANZ Cashactive Trust Account using internet banking using your unique sub-register account number.
**Please note – you cannot make deposits via your local ANZ branch as ANZ retail banking does not recognise Cashactive in their banking systems.**
- Funds can only be paid into a nominated bank account held in the same name (no third party payments will be made).
- OpenMarkets will require you to provide evidence of the account nominated to receive payment on account opening (i.e. a bank statement of account to be supplied).
- It will take 2-5 business days for bank to bank transfers, but may take longer depending on the recipient’s country and bank.
- Transfers made on weekends, and public/bank holiday or after the currency cut-off time will be processed the following business day
- Transfers made to overseas bank accounts will incur an AUD $100.00 charge per withdrawal Telegraphic Transfer requested.
Checking your balance
You can check your cash balance at any time by logging into your account on the Equix or IRESS trading systems (or by contacting your financial advisers if applicable).
For more information on how the ANZ Cashactive Trust Account works, please contact us on 1300 769 433 or email email@example.com