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Online Share Trading - Cash Management Accounts Guide

Many online share trading brokers offer several different bank accounts, to complement their trading and investment offerings. Some of the types of accounts you may find being offered by online brokers include:

Cash Account

An everyday transaction account which typically has a low interest rate (less than 1%). Features may or may not include transactional facilities, including:

Bpay facility to pay bills
World-wide access to your cash via a debit card used through ATMs
Make ‘Pay Anyone’ direct cash transfers
Instant transfers between linked accounts
Low brokerage fees for share trade settlements made from the cash account
Potential collateral for a margin loan

Investment Account

A high-interest online savings account, often linked to a cash account. Features may include:

Access and transfer funds instantly
High interest rate
No fees
Potential collateral for a margin loan

Debit Card Account

A debit card can be a handy way to pay for products and services from anywhere in the world, using the funds in your cash account. Common features include:

Worldwide acceptance
Unlimited, free ATM transactions at local network ATMs
No spending limits (access however much you have in your cash account)
Transaction security

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