Cash and investment accounts from CommSec

[img_assist|nid=7997|title=|desc=|link=none|align=left|width=100|height=95]A new integrated cash management facility was introduced by CommSec to upgrade online trading and enable access to the share market for cash savers.

"The Cash Management Solution consists of two bundled accounts. The first is a full transaction, everyday online account, [and this is] linked to a high interest savings account," said Matt Comyn, CommSec managing director.
"Both of those accounts are fully integrated with our trading platform," he added.

7000 CommSec customers were polled to define what features are preferable to include into the new accounts.
"For example we know that the most important feature in a transaction account is the absence of any monthly account keeping fees and that's exactly what we've done," Comyn said.

CommSec Cash Account, the transaction account pays interest on balances over $5000 and is acccessible through a MasterCard. CommSec investment Account, the savings account pays 7.5 per cent interest.

"The Comsec Cash Account is the central account where you would deposit salaries and dividends, and it's also the settlement account," Comyn said.