CBA combines cash/shares
(11 June 2008 – Australia) CBA, through Commsec, has announced the launch of a new banking solution that combines cash management and online trading.
CBA has said that the integrated cash management and online trading solution is the first of its kind in Australia and is now available.
The solution has been devised so self-directed investors are able to manage their investments and their cash through one single online location.
Matt Comyn, managing director, CommSec said that the Cash Management Solution forms part of CommSec’s strategy to expand its online broking platform, which currently services more than 1.5 million accounts.
He added that self-directed investors are currently managing their cash using high interest accounts, so the integrated solution will help support the transition to other investment opportunities.
The solution combines two accounts as well as integrated trading and cash management capabilities.
The first account is a cash account with full online transactional capabilities, a debit card and no monthly fees. The next is an investment account with high interest on savings and an integration feature to help maximise interest.
The accounts will be combined with integrated trading, using a single log-in and view for trading and cash management.
The solution has been devised so self-directed investors are able to manage their investments and their cash through one single online location.
Matt Comyn, managing director, CommSec said that the Cash Management Solution forms part of CommSec’s strategy to expand its online broking platform, which currently services more than 1.5 million accounts.
He added that self-directed investors are currently managing their cash using high interest accounts, so the integrated solution will help support the transition to other investment opportunities.
The solution combines two accounts as well as integrated trading and cash management capabilities.
The first account is a cash account with full online transactional capabilities, a debit card and no monthly fees. The next is an investment account with high interest on savings and an integration feature to help maximise interest.
The accounts will be combined with integrated trading, using a single log-in and view for trading and cash management.
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