Without leaving our website you can place your term deposit deals for clients from a selection of rates and terms across a diverse range of Australian financial institutions.
Once your login and client accounts are setup, you are ready to start trading.
Step 1: Browse Rates
Choose the term and institution that suits your client. You can filter the rates by type of financial institution. The "Highest Rate" for each term across all the providers is automatically displayed. The rates are initially displayed in order of the best 3 month rate but can be changed by clicking on any of the term headings.
Step 2: Enter Details of Deal
This is where you confirm the details of the deal. You can download the PDS or Terms & Conditions document for the chosen institution and Financial Services Guide (FSG). However, a copy of the PDS will be sent to your client upon confirmation of the deal if their email address is provided. On acceptance of the deal, the funds will be deducted from the cash management account balance and the deal will appear in the list of Term Deposits on the Current Investments Page.
Step 3: Deal Confirmation
As the adviser, you will receive an email confirming the deal. The chosen institution then sends out a separate bank confirmation to Australian Money Market in due course. This confirmation is checked for accuracy, then scanned and saved on the website. It is then emailed out to you and your client if their email address has been provided.
What support is there?
We have a dealing team of brokers who are there to place the trades and support you as needed. They can be contacted on 1300 306 281 Monday to Friday between 8.30am to 5pm.
You can also access our online tutorials by clicking View Tutorials below.
FAQ's
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What are the standard dealing times?
Normal trading hours are from 10.30am until 1.30pm Australian Eastern Standard Time (AEST). Deals can be placed outside of standard dealing times and will be known as pending deals until processed at 10.30am on the next business day.
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What if the maturity date falls on a weekend or public holiday?
The system will not allow weekends or public holidays to be entered.
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How often is interest paid?
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.
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What if there is a rate increase after you have placed a pending deal?
Should the rate increase, when the deal is processed it will be at the new rate. Find out more about pending deals.
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How are funds transferred to the chosen institution?
Once you accept the deal, Australian Money Market provides the chosen institution with an application form containing details to open an account in your client's name. AMM then organises the transfers of funds from the cash management account to the chosen institution.
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How do you access the contracts history for a client?
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.
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What action is required to be taken for Deceased Estates?
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.