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View Full Version : Interest rates on cash in our share A/Cs



Bob
01-07-2011, 02:07 PM
Our brokers seem to get away with paying lousy interest rates
Mine (ASB) pays 0.25 up to $4999, 0.5% $20,000 to $99,999
Handy to have cash in A/c waiting for next purchase but should have it elsewhere
Are there any brokers paying a half decent rate?

bung5
01-07-2011, 02:09 PM
www.sharesandbonds.co.nz ( nationalbank ) direct debit straight from you bank account 4 days after trade.

BIRMANBOY
01-07-2011, 02:18 PM
Why dont you just leave it in your own bank a/c and then do direct credit when you get notification that trade has gone through.? Direct Broking just send through email with paperwork etc and then you have 3 days or something to pay it. Of course your bank a/c may not be any better??
Our brokers seem to get away with paying lousy interest rates
Mine (ASB) pays 0.25 up to $4999, 0.5% $20,000 to $99,999
Handy to have cash in A/c waiting for next purchase but should have it elsewhere
Are there any brokers paying a half decent rate?

sharer
01-07-2011, 02:19 PM
Our brokers seem to get away with paying lousy interest rates
Mine (ASB) pays 0.25 ...
Are there any brokers paying a half decent rate?

Check out Direct Broking.
I think they pay about 3% AtCall, and do dirtect debits or credits as you trade. Excellent service.

moimoi
01-07-2011, 02:55 PM
open a fastsaver a/c with ASB, funds are on call at 3.15%, and transfer across to cash management a/c when needed.

https://www.asb.co.nz/personal/accounts/savings-accounts/fastSaver

777
01-07-2011, 04:06 PM
Check out Direct Broking.
I think they pay about 3% AtCall, and do dirtect debits or credits as you trade. Excellent service.

I use DB and it is 3%. However if you do not have enough money in your account when you make an order you pay a higher brokerage. The debit and credits go through your account 3 trading days after shares bought or sold.

Hoop
01-07-2011, 06:08 PM
I use DB..... the DB call account is 3% but the online multi-currency account in NZ$ is less, only 2.4%... However the multi-currency account in Aust$ receives 4.15% interest .