Direct Broking/Jarden Call Account

[blackcap]

First to move again

Currency Daily Balance Interest Rate
NZD
up to 14,999.99 3.50% p.a.
15,000.00 to 49,999.99 3.80% p.a.
50,000.00 to 199,999.99 4.40% p.a.
200,000.00 to 999,999.99 4.40% p.a.
1,000,000.00 to 2,999,999.99 4.40% p.a.
3,000,000.00+ 4.40% p.a.

They are some juicy rates. Went to put a TD on with ANZ a few days ago and their 4 month rate was 3.8%. When I can get 4.4% on call at Jarden, (or the same 3.8% for smaller amounts) there is no comparison.

[peat]

They are some juicy rates. Went to put a TD on with ANZ a few days ago and their 4 month rate was 3.8%. When I can get 4.4% on call at Jarden, (or the same 3.8% for smaller amounts) there is no comparison.

well there is a comparison, just look at the organisations you are entrusting your funds with.
One , second largest bank in Australasia I would think second to CBA,
the other , some broking service lucky to be in the top 100 of Australasia, correct me if I am wrong

one needs to consider what the investment purposes are, to make money from liquid investments, and accept some risk
or whether the intent is to have absolute security with that investment.

I'm happy to have some funds sitting in Jarden Direct Broking for quick funding of equity investment but I use Rabobank for top rates and pretty good security 5.85 for one year at the moment , a minimum of 3.45 for cash but can easly get 4.5 for 60 days notice.

Its not always all about the rate

[blackcap]

well there is a comparison, just look at the organisations you are entrusting your funds with.
One , second largest bank in Australasia I would think second to CBA,
the other , some broking service lucky to be in the top 100 of Australasia, correct me if I am wrong

one needs to consider what the investment purposes are, to make money from liquid investments, and accept some risk
or whether the intent is to have absolute security with that investment.

I'm happy to have some funds sitting in Jarden Direct Broking for quick funding of equity investment but I use Rabobank for top rates and pretty good security 5.85 for one year at the moment , a minimum of 3.45 for cash but can easly get 4.5 for 60 days notice.

Its not always all about the rate

The thing is, the money that Jarden look after on behalf of clients is spread amongst the 4 big banks. (well it used to be) so it was/ios even safer than putting your money with one bank.

Thanks for the Rabo tip, had not thought of them...

[peat]

The thing is, the money that Jarden look after on behalf of clients is spread amongst the 4 big banks. (well it used to be) so it was/ios even safer than putting your money with one bank.

probably, usually,mostly, yeh , nah... not when it all goes kaput. Trust Deeds, yeh , sure. ;+)

[Snoopy]

Went to put a TD on with ANZ a few days ago and their 4 month rate was 3.8%. When I can get 4.4% on call at Jarden, (or the same 3.8% for smaller amounts) there is no comparison.

You are doing it wrong blackcap. Went to set up an ANZ PIE term deposit myself the other day. Actually made an appointment with an advisor to do so. This was after I waited in line to talk to a regular bank teller, only to be told that although she could set up a regular term deposit for me, she was not 'qualified' to set up a PIE term deposit.

I arrived for my appointment, all prim and proper, and got shown into the special open plan cubicle. After inquiring about my prospective investment term, my 'special advisor' put a hurried call through to the ANZ wholesale bankers, the really sharp shirts on the trading floor (even if I'll bet they're are really slobbing around on their computers at home in their pyjamas these days). I had to wait, nervously, as some ID details were updated.

Then some minutes later, there was a call back. An implacably timed 'nod of acknowledgment' on my advisors end of the phone, and that look of satisfaction. I realised - at that point - I had just closed 'a very special deal'.

I am going to interrupt my story to give it a bit more context. The amount of money I am talking about was more than I have stuffed under my mattress, and down the back of my sofa. It was $10k. That is a lot more than I would be comfortable losing, but would equate to little more than a long well lubricated lunch for banking management. So not really 'big bucks' in terms of Orr post Covid deflated dollars. But I felt like I was being treated as though I had 'hundreds of thousands of dollars' to invest, and so felt special.

My 'special adviser' had managed to wangle a whole extra quarter percent for me above the advertised rate, and I hadn't even put my demanding fist on the desk with anger. It was all so civilized, and I left feeling like a 'corporate big boy'. For my efforts, I had manged to negotiate a term rate with the ANZ that was exactly the same as the term blackboard rate offered by the other big three Ozzie banks. When I found that out, I nearly choked on my ineptitude. But is sure felt good at the time.

SNOOPY

P,S. Moral of the story: The whole thing was a lesson in marketing hype. But you can get the big banks to match each other if you try hard enough.

[sb9]

Got an email from Kiwibank this morning, their online cal a/c rate going up from 3.35% to 3.85% eff today.

[Onemootpoint]

Got an email from Kiwibank this morning, their online cal a/c rate going up from 3.35% to 3.85% eff today.

and Kiwibank’s 90 day notice saver now at 4.75%. This is a Pie Investment

https://www.kiwibank.co.nz/personal-.../notice-saver/