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Adelaide Cash Management Account | ||
The Adelaide Cash Management Account may suit investors who
*Up to $1 million in total on deposit with Adelaide Bank Limited and Bendigo and Adelaide Bank Limited. |
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Who can use • Individuals • Companies • Partnerships • Trusts • Self managed super funds • Associations Fees and charges Key transaction fees are summarised here. Free transactions include: • Cash deposits (including Bank@Post Agency Banking) • Auto deductions • Auto payment plan • BPAY to Adelaide Bank accounts • Direct credits • Express Line balance enquiries • Online banking balance enquiries • Bendigo Bank ATM balance enquiries. Key transaction costs include: • Personal cheque withdrawal - $0.75 • ATM withdrawals - $1.25 • Foreign ATM Withdrawal or enquiry - $1.25 • Bank cheque - $10.00 • EFTPOS - $0.50 Other fees are detailed in clause 52 of the PDS. Investment risk The CMA is a deposit with Bendigo and Adelaide Bank, regulated by APRA, the Code of Banking Practice and the EFT Code. Since 28 November 2008, the Federal Government guarantee is limited to funds up to $1 million in total on deposit with Bendigo and Adelaide Bank. (3) Interest rate risk The interest rate applying to the CMA may be affected by changes in the official interest rate, which is determined by the Reserve Bank of Australia. Your interest rate can also be affected by changes in the interest rates prevailing between Australian banks in the Australian wholesale money market. These interest rates may vary depending on a number of factors, including Australian and overseas interest rates, market liquidity, exchange rates, monetary policy and other economic, social and political factors. Method of interest calculation Daily on closing balance Frequency of interest payment Monthly Minimum initial investment $1000 Minimum operating balance $1000 Maximum operating balance No maximum balance Minimum deposit amount Nil Minimum withdrawal amount Nil Statement frequency Monthly (1) ATM deposits and transfers available at selected Bendigo Bank ATMs. (2) Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved. (3) Refer to Section 1 of the PDS – Introductory information for more details of the application of the government guarantee and its application to funds. ®Registered to BPAY Pty Ltd ABN 69 079 137 518. |
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