What is an OpenMarkets ANZ Cashactive Account?
An OpenMarkets ANZ Cashactive Account is a trust account held and operated by OpenMarkets on your behalf (in accordance with the Australian client monies trust account rules) for the purpose of settling transactions on your OpenMarkets trading account.
The account is registered uniquely 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 Account?
Simply indicate in the Linked Cash Account section on the OpenMarkets Account Application that would like OpenMarkets to establish an ANZ Cashactive on your behalf.
How will I know the details of my account?
Your OpenMarkets ANZ Cashactive BSB and account number will be provided in our Welcome Email, along with your trading account and platform login information.
Depositing Funds (electronic transfers only)
Simply transfer funds into your OpenMarkets ANZ Cashactive Account using internet banking. **Please note – you cannot make desposits via your local ANZ branch as ANZ retail banking does not recognise Cashactive in their banking systems**
To withdraw funds, simply email your request to firstname.lastname@example.org indicating how much you would like withdrawn and where you would like it paid. Please note that 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 (ie. a 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.
Note there will be 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 WebTrader, Pulse or IRESS trading systems.
For more information on how the ANZ Cashactive Account works, please contact us on 1300 769 433.