Hi Guys,
We've just had an Investment Trust setup (Discretionary), and need to arrange a bank account that can be used with it. My understanding is this needs to be a business account (ie. can't be just a personal account in trusts or my name).
Does anyone have any recommended accounts for this type of thing – the obvious thing being low fees/good rates? We'd also be purchasing some shares through this aswell.
Cheers,
LGI Have got the best account. No fees, pay's a good interest rate, thinks it close to 5.5%. ( Ask them when you call)to check it out. Its the commonwealth bank, but they do not promote it, and they will probaly not know what you are talking about if you ask a branch for it.
Its called a Accelerated Cash Account. You get a key card, cheque book, deposit book, and no fees.
Ring Colonial Geard INvestments for an application to be posted to you. 1800 252 351. Free call.
Colonial is owned by the CBA, and when you get statements, they will be CBA statements, and then you can go into your local branch and link accounts ect.
If you have a marginloan with CBA or colonial you can link the account to it. But you do not have to have a margin loan to open this account.
Basically, its a chq account, and pays you a good interest rate. I don't know of any other chq accounts like this one.
Hope this helps.
You can use any type of account, it's just a matter of shopping around for what is best for you. It does not need to be a business account, it can be anything.
Alysha
Try Bankwest too
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
