What is a cash management account in Australia?
This is an account that allows you to receive additional income from temporarily free funds. Depositing and withdrawing money from such an account is usually done without restrictions. The interest rate often depends on the size of the account balance.
Who offers the best business cash management accounts?
Our analysts have researched the UK market and offered for your consideration on this webpage the best accounts with high rates from reliable financial institutions.
You can also place free funds on a savings account.
Calculate your future income on a savings account (example):
| Amount, $ | Rate, % | Accrued %, $ |
| 20,000 | 2.60% | 520 |
| 20,000 | 2.65% | 530 |
| 20,000 | 2.70% | 540 |
| 50,000 | 2.75% | 1,375 |
| 50,000 | 2.80% | 1,400 |
| 50,000 | 2.85% | 1,425 |
| 100,000 | 2.90% | 2,900 |
| 100,000 | 2.95% | 2,950 |
| 100,000 | 3.00% | 3,000 |
| 200,000 | 3.05% | 6,100 |
| 200,000 | 3.10% | 6,200 |
| 200,000 | 3.15% | 6,300 |
What are the pros and cons of wealth management accounts?
- Advantages:
- Professional Guidance by financial experts
- Diversification across different asset classes
- Easy access to your investments
- Low tax liabilities
- Access to Exclusive Opportunities like private equity or hedge funds
- Disadvantages:
- Additional charges may appear as management fees, advisory and transaction fees
- Some wealth managers may have conflicts of interest
- There's no guarantee that a wealth manager will outperform the market or achieve the desired investment returns
- Low control over your financial decisions
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Details of companies offering the financial services:
AMP Bank
Head office’s address: 2-12 Macquarie St
Contact center: 131-267
Phone: 61-2-8048-8249
Mail address: AMP Bank Reply Paid 79702 Parramatta NSW 2124
Web-site: https://www.amp.com.au/
Swift code: AMPBAU2SRET.
Stock code: AMP
BSB: 939-200
Arab Bank Australia
Head office’s address: 20 Bridge Street
Contact center: 1800-64-64-84
Mail address: P.O. Box N645 Grosvenor Place Sydney, NSW, 1220
Web-site: https://www.arabbank.com.au
Swift code: ARABAU2S
Stock code: ARBK
ABN: 37 002 950 745
BSB: 917-110
Rural Bank
Head office’s address: 80 Grenfell Street
Contact center: 1-300-660-115
Phone: 61-8-7109-920
Mail address: Rural Bank PO Box 3660 Rundle Mall SA 5000
Web-site: http://www.ruralbank.com.au/
Swift code: BENDAU3B
Financial institution code: BBL
ABN: 74 083 938 416
BSB: 633-500