A Cash Management Account refers to a type of account offered by brokers and other financial institutions. They enable investors to buy and sell stock, options, bonds and commodities, while at the same time allowing them to earn money market interest on cash balances.
Most of our clients open an account with DDH Graham Limited (issued by Bank of Queensland) with a link to Burrell which will facilitate automatic settlement of buy and sell transactions, and enable quick and easy payment of dividends.
An account with DDH Graham provides bank security (accounts are covered by the Australian Government Guarantee of $250,000 per person per institution), and market competitive interest rates paid monthly. DDH Graham has a strong history in servicing the investor market, and we find it offers an efficient and competitive service that will save you time and money whilst ensuring that your funds are always working for you.
Alternatively, you may prefer to provide us with the authority to debit and credit your nominated bank account to facilitate settlement of trades. This means you won't have to remember to transfer funds into our account, and will, in the case of the proceeds from sell trades, give you access to your funds sooner.