Choose from our transfer options to move funds to and from your client's cash management account for initial and subsequent investments, or for redeeming interest at maturity.
View Table Funds Transfer Options
FAQ's
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Do funds always stay in the client's name?
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.
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What is an external linked account?
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.
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What is required to setup a Direct Debit for a linked account?
If your client would like to direct debit an initial investment from their linked bank account, this is avaliable 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.
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How long does it take for the funds to clear?
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.
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Does my client earn interest on funds in the cash management account?
Yes. The interest rate is dependent on the choice of product issuer.
