Financial Adviser - Frequently Asked Questions

Australian Money Market (AMM) is a private company that was established in 2007 to run a cash deposit broking business. Australian Money Market provides a brokerage service for our clients and their term deposit requirements. We operate under the Australian Financial Services Licence of DDH Graham Limited, a funds management and administration organisation with a total of $4billion funds under management. Learn more.

AMM has standard trading hours of approximately 10.45am - 1.30pm (Sydney time). If you are unsure, the Trading status will be displayed near the right of your screen, once logged in.

The 10.45am opening time allows the banks time to publish their rates to AMM, if they are changing that day. The 1.30pm closing time allows AMM the time to process the deal same day and remit the funds to the chosen institution.

We know you want to be able to deal with us at any time of the day, however financial institution interest rates can change daily. This means that a rate chosen at 8pm may not be available the next business day when AMM is processing your deal.

Any deal placed outside AMM's standard trading hours will be accepted however it will be marked as "Pending - rate to confirm". This means the deal will be held until approximately 10.45am the next business day when the rate at the transaction time will be compared to the current rate issued by the bank.

When AMM processes the deal on the next business day:

• - should the rate remain the same, the deal will go ahead as originally requested
• - should the rate increase, the deal will go ahead at the new higher rate and your Contract Note updated to confirm the new rate
• - should the rate decrease, the deal will not go ahead and AMM will contact you to receive further instructions. If we can't reach you by 1.30pm Sydney time, the deal will be cancelled

For each institution, there are different minimum and maximum amounts. These are specified on the rates table by provider. AMM does not enforce any of its own minimums or maximums.

When daylight savings time comes into effect, we trade on the basis of Sydney time.

Yes. When you place the deal outside of standard dealing hours, it will show on the Current Investments page as a pending deal until such time that it is processed by our brokers.

If the rate changes between the time you place the deal and the time that it is processed, we may be in contact with you depending on the nature of the change. Once the deal is processed, you will receive confirmation from us. The deal will then appear on the Current Investments page.

Processing times and requirements of financial institutions are changing considerably and often differ between institutions – please refer to the table below this email to view specific variations according to the investment type:

TERM DEPOSIT INVESTMENTS:

AT CALL INVESTMENTS:

The client gives you authority in the application form to provide instructions on their behalf. Read-only access can be setup for the client to access their account but they are not able to transact.

You are able to view all client accounts attached to your broker code in one place. Once you login to AMM, you can access them on the Accounts Page.

The broker code is made up of your dealer group, your adviser practice and your name. Your broker code will be attached to your client accounts.

If your Dealer Group does not already have a broker agreement in place with AMM, you will need to provide us with your contact details as requested on our Register Form, including your Australian Financial Services License number (AFSL). We will then contact you to complete the setup process.

At registration, we can set up broker codes for other advisers in your practice to trade. It is also possible to setup read-only access for administration staff as required. When logged in, the Broker Code Page shows you which broker codes your User ID provides access to. To edit access rights to Broker Codes, please contact us.

We can link an existing cash management account held by our client. When you complete the online application form, there is an option for existing accounts where you can provide us with the details. This will ensure that a duplicate account will not be opened.

It is possible to change the cash management account to another provider. AMM allows for the ability to have multiple cash management accounts linked.

DDH Graham Limited is a funds management and administration organisation. They have been appointed by Bank of Queensland (BOQ) as an agent to manage and administer their deposit offerings. As BOQ's agent, all account information for the BOQ Money Market Deposit Account is accessed through DDH Graham, not directly through BOQ.

For the initial and subsequent term deposit investments, your clients have several options to transfer funds to their cash management account. Find out more.

Yes. The interest rate is dependent on the choice of product issuer.

Yes, this can be nominated on the application form and the details of your client's external linked accounts can be provided. This will enable Direct Credits to the linked account(s) on your instruction. If you opt for Direct Debits as well (only available with a BOQ hub), funds can be pulled by AMM from your external linked bank account into your cash management account. Please note the Direct Credit function cannot be used for charging fees of any kind.

No, this will need to be obtained directly from the product issuer. Please note this will not be included in the AMM Tax Pack.

You need to complete the Change of Adviser Account Details form so we can update your records.

You need to notify us if you change your dealer group licence at any time and we can then reallocate your broker code for you and any other advisers in the practice. Your client accounts will then be attached to the new code upon receipt of either a release letter from your former licence holder, or signed transfer letters from individual clients.

You need to notify us if your client’s details change from those entered on the original application form so we can update our records. You can either contact us or complete the Change of Client Account Details form online.

Yes, you will be listed as the primary broker on your client's cash management accounts and can deal directly with them. Both you and your clients are able to have internet access to account information.

You can request read-only access on behalf of your clients, however, they are not able to transact on their accounts.

The client gives you authority in the application form to provide instructions on their behalf. Read-only access can be setup for the client to access their account but they are not able to transact.

AMM allows electronic deposits and withdrawals to be made from a linked bank account. The name of this linked account must be the same as the account name with Australian Money Market. The client can authorise for funds to be direct debited from this account for initial and subsequent investments. Transfers of funds can also be made between the linked account and the cash management account using your login.

Yes. Australian Money Market do not use trust accounts. Movement of funds between financial institutions is always in the client's name via their cash management account.

If your client would like to direct debit an initial investment from their linked bank account, this is available for BOQ and Westpac hubs only. You will need to provide their linked account details and the amount in section 7 of the online application form. We also require a copy of the client’s bank statement for the external account, within six months of issue, to verify their details. If you have any queries concerning the direct debit arrangements at any time, please contact us in the first instance on 1300 306 281.

This depends on the method you choose to transfer the funds and the institution with whom the account is held. It ranges from next day for electronic funds transfer (subject to the time it was transacted) up to three days for direct debit subject to the institution, provided the request is input by 2.30pm QLD time.

Yes. The interest rate is dependent on the choice of product issuer.

Yes, this can be nominated on the application form and the details of your client's external linked accounts can be provided. This will enable Direct Credits to the linked account(s) on your instruction. If you opt for Direct Debits as well (only available with BOQ and Westpac hubs), funds can be pulled by AMM from your external linked bank account into your cash management account. Please note the Direct Credit function cannot be used for charging fees of any kind. Please note the Direct Credit function cannot be used for charging fees of any kind.

For the initial and subsequent investments, your clients have several options to transfer funds to their cash management account. Find out more.

Once you accept the deal, Australian Money Market transfers the funds via the cash management account. We provide the chosen institution with a contract note containing the terms of the deal; an application form containing details to open an account in the client name and an authority to direct debit the client’s cash management account for the amount prescribed in the contract note.

For each institution, there are different minimum and maximum amounts. These are specified on the rates table by provider. AMM does not enforce any of its own minimums or maximums.

Australian Money Market transfers the funds on the request of clients or their authorised representatives only.

No third party payments can be made via AMM.

AMM requires ID to be provided for both the applicant and the signatory acting as Power of Attorney to the account. Please refer to the Identification Requirements for Individuals table for more details.

Where photographic ID is not available, please refer to the Identification Requirements for Individuals table where you will need to provide one form of ID from 'Primary Non-photographic ID' and one from 'Secondary ID'. Please contact us for more details.

It depends on the type of investment entity. The following is a guide only. Each individual provider may have additional requirements outside of AMM's control.

Individual Accounts: The AMM POA legally ceases to exist and executors are required to deal directly with the relevant banks. Once AMM is notified that an individual account holder is deceased the facility will be blocked.

Joint Accounts: Death certificate and updated AMM application required. On receipt AMM will notify the banks to update their records.

Company Accounts: A death certificate together with an updated ASIC statement will need to be provided to AMM. On receipt of an updated AMM application we will notify the banks to update their records.

SMSF: Please refer to the relevant trust deed clauses.

Click here for a list of persons authorised to certify a copy of your identification document. Unless it is specified that the Authorised Person may be overseas, an Authorised Person must be either an Australian Citizen or Permanent Resident of Australia.

Term deposit rates quoted in the site are interest paid at maturity for deals one year or less and annual interest for terms greater than one year. For quotes on deposits with regular interest options (for example, quarterly or semi-annual interest), please contact AMM.

In your client’s AMM Account, you will see three trading options – ‘Cash Deposit’, ‘Managed Fund’, and ‘FX Payment’. Click ‘Managed Fund’ and you will be taken onto the relevant investment page.

After understanding the fund options and contacting the Fund Manager for details, simply click ‘Invest’ for the relevant fund and you will be taken through to another screen to confirm further details including the amount you wish to invest.

Follow the instructions and you will receive an email and contract note to confirm your investment request, along with the Contract Note, PDS and Terms & Conditions.

No – AMM does not provide advice. We simply facilitate the ability to purchase Managed Funds and choose other investment options from our online portal.

No – Managed Funds are not covered by the Government Guarantee.

Click on the relevant links on the Managed Fund investment page to find out further information and speak to the Fund Manager who’s details are listed with the relevant fund.

The best way for you to provide instructions is by logging into the site and opting to reinvest or redeem online.

Advisers receive email notification of upcoming maturities, both as a weekly report and on an individual basis, the day before each maturity. If no instruction has been received within dealing hours, the investment is automatically redeemed back to the client's cash management account where it will earn interest at the prevailing rate.

To break a term deposit, notice is required in writing such as an email sent to admin@moneymarket.com.au. Costs will be attributed to an early redemption and these will vary on a case by case basis. The client is informed of all charges prior to breaking the term. Please note, most financial institutions require 31 days notice to break a Term Deposit and have a 3pm (Sydney time) cut off time. Please refer to the relevant provider’s PDS for further details.

The site allows you to deal up to 7 days prior to the maturity date of the term deposit. Any instruction for a new deposit provided prior to the maturity date will be treated as a pending deal within AMM and will be subject to changes in Bank rates.

Yes, this can be nominated on the application form and the details of your client's external linked accounts can be provided. This will enable Direct Credits to the linked account(s) on your instruction. If you opt for Direct Debits as well (only available with BOQ and Westpac hubs), funds can be pulled by AMM from your external linked bank account into your cash management account. Please note the Direct Credit function cannot be used for charging fees of any kind.

For the initial and subsequent investments, your clients have several options to transfer funds to their cash management account. Find out more.

The client gives you authority in the application form to provide instructions on their behalf. Read-only access can be setup for the client to access their account but they are not able to transact.

Yes. The interest rate is dependent on the choice of product issuer.

You are able to view all client accounts attached to your broker code in one place. Once logged in, you can access them on the Accounts page.

These two account types are listed in the bottom section of the Browse Rates page.

‘Notice Accounts’ are listed under our ‘At Call’ options when browsing rates. Please be aware that a Notice Account requires a particular notice period to access funds, whereas an At Call Account can be accessed immediately.

Should the rate increase, when the deal is processed it will be at the new rate. Find out more about pending deals.

Yes. When you place the deal outside of standard dealing hours, it will show on the Current Investments Page as a pending deal until such time that it is processed by our brokers.

If the rate changes between the time you place the deal and the time that it is processed, we may be in contact with you depending on the nature of the change. Once the deal is processed, you will receive confirmation from us. The deal will then appear on the Current Investments page.

Generally not. There are some Banks that pay AMM's brokerage on top of the rate publicly available which means the client gets the same rate as if they dealt directly with the institution. Banks will also provide us with specials from time to time. The ability to easily switch between institutions at maturity, allows you to maximise the return on your client's investments.

It depends on the dealer group you are licensed through. In some cases, there is a limit on the providers offered through the dealer group’s approved product list. You need to check with us on registration.

Generally not. There are some Banks that pay AMM's brokerage on top of the rate publicly available which means the client gets the same rate as if they dealt directly with the institution. Banks will also provide us with specials from time to time. The ability to easily switch between institutions upon maturity, allows you to maximise the return on your client's investment.

All the banks, building societies and credit unions listed with Australian Money Market are covered by the Government Guarantee Scheme up to $250,000 per person per institution. This took effect under the Financial Claims Scheme from 1 February 2012.

We provide a full history of financial transactions at the end of the financial year. This can be downloaded online including the corresponding bank confirmations in one ZIP file.

You are currently able to download an audit certificate, interest summary and customer report which you can access under the “Reports” tab online.

Typically it can take up to two weeks of the deal start date for confirmations to be sent out by the chosen institution(s). AMM maintains processes to ensure that any deposits that have not had a confirmation within 2 weeks of the start date are chased up by the provider bank.

Once you have logged in, select the Account Name from the Accounts Page, then you can access it from the Current Investments Page by clicking on "Contracts History" in the sub-menu.

Funds are always invested in the client's name. Australian Money Market only has the authority to move funds between approved institutions based solely upon the client's instructions.

The client's funds would be unaffected as the investment with the chosen financial institution(s) is always in their name.

Australian Money Market transfers the funds on the request of clients or their authorised representatives only.

No transfers to third parties can be made via AMM. Third party payments can be made from your Cash Management Account by contacting the Bank directly and providing signed instruction.

Typically it can take up to two weeks of the deal start date for confirmations to be sent out by the chosen institution(s). AMM maintains processes to ensure that any deposits that have not had a confirmation within 2 weeks of the start date are chased up by the provider bank.

The Australian Government has guaranteed deposits up to $250,000 in Authorised Deposit-taking Institutions (ADIs). The cap applies per entity, per ADI. Find out more.