Cash balances in InvestNow Transaction Accounts do not accrue interest. InvestNow receives the interest on any money held within the Transaction Account, which helps to pay costs associated with offering and operating InvestNow, including bank fees (for example, a $0.15 fee for each and every deposit by a customer, and a $30 Telegraphic Transfer fee for each purchase of units in managed funds based in Australia) which are not passed on to our customers.

The interest that InvestNow receives is the Official Cash Rate (OCR). 

Here are some examples of the calculations for any interest that could be received by InvestNow:
  • A customer with an average daily cash balance of $2,000, assuming an OCR of 1.00%, the interest over a year would be approximately $20.00, before tax. 
  • A customer with an average daily cash balance of $5,000, assuming an OCR of 1.00%, the interest over a year would be approximately $50.00, before tax. 
  • A customer with an average daily cash balance of $10,000, assuming an OCR of 1.00%, the interest over a year would be approximately $100.00, before tax. 
Transaction Accounts are intended to be used to fund investments into managed funds, or to facilitate withdrawals to your bank account following a fund redemption, distribution or any other payment. We will proactively alert clients to invest or withdraw cash if they have a positive cash balance.