Investment Loan FAQs



What types of Investment Loans do you offer?

We offer two types of Investment Loans with slightly different features to suit different investor needs:

  • One with a 10% buffer and features aimed at investors predominantly investing into Managed Funds; and
  • One with a 5% buffer and features aimed at investors predominantly investing into direct listed equities.

There are also other different product features such as LVRs and margin call clearance time which can be viewed on either the Accepted ASX Listed Equities list or Accepted Managed Fund list.


What securities do you lend against?

We have a comprehensive accepted securities list with over 500 ASX Listed Securities, 1,600 Managed Funds and 350 Investment Platforms and SMAs. Each accepted security has a lending ratio which indicates the maximum we can lend against. Our lending ratios are generally between 40% up to 80% depending on the investment loan type.


What types of Investment Loan do you offer?

We offer two types of Investment Loan with slightly different features to suit different investor needs:

  • One with a 10% buffer and features aimed at investors predominantly investing into Managed Funds; and
  • One with a 5% buffer and features aimed at investors predominantly investing into direct listed equities.

How much can my clients borrow?

The maximum amount your clients can borrow depends on:

  • How much money they have to invest and the value of the assets they provide as security
  • Which shares or managed funds your clients invest in, as we lend different amount for different types of investments.
  • The Borrowing Limit for each accepted security is set out in our Accepted Securities List. Borrowing Limits, which we determine, may change from time to time at our discretion.

What is a Margin Call?

A Margin Call occurs when:

  • A client’s current Loan to Value Ratio (LVR) exceeds the Margin Call LVR; or
  • A client’s current LVR exceeds the Maximum Gearing Ratio

A Margin Call can occur when:

  • The loan value increases due to withdrawals or interest capitalisation;
  • The market value of your client’s portfolio falls;
  • We reduce the LVR of an investment securing a client’s investment loan; or
  • We reduce the Buffer amount.

What actions does CommSec Adviser Services take in the event of a Margin Call?

  • We will take reasonable steps to notify you and your affected client(s) by SMS, email or phone. You must ensure you are contactable at all times in the event of a Margin Call and keep us informed of any changes to your contact details or your clients'.
  • Your clients' gearing levels must be adjusted within the timeframes stipulated in the Terms & Conditions so that it is below the lower of:
    • The Base LVR; and
    • The Maximum Gearing Ratio

How do my clients resolve a Margin Call?

If a Margin Call is triggered on a client’s account, the following resolutions are available:

  • Reduce loan balance by depositing money into the investment loan;
  • Add accepted shares or managed funds to increase portfolio value; or
  • Sell a sufficient amount of the portfolio to reduce loan balance and gearing level

What are the risks?

All investments are subject to risk. This means that your clients may lose money on their investments or fail to meet their financial objectives.

The key risks of an Investment Loan include:

  • Adverse market conditions may result in portfolio value being reduced and subsequently gearing level may increase, triggering a Margin Call.
  • We may reduce or remove the LVR applied to some or all of your clients' investments, or their portfolio as a whole at any time, which may result in a Margin Call.
  • The variable interest rate may increase resulting in higher interest costs, which may exceed the portfolio’s return.
  • Margin Calls may require investments to be sold by you or us quickly at unfavourable prices and may trigger unwanted capital gains or losses if your client is unprepared.
  • Tax legislations or marginal tax rates may change and have an adverse impact on the client’s tax position.
  • The loss of any assets (including property) if they have been mortgaged as security or to provide security to the Investment Loan.
  • Default events or enforcement events (as defined in the Terms & Conditions) occurring. The consequences of such an event occurring include all amounts owing becoming immediately payable. Default events include a materially-adverse change to your client’s financial position, or to the financial position of any Guarantor or Mortgagor; and/or where all the All Ordinaries Index falls by 10% or more in any one trading day or by 20% or more over any three consecutive trading days
  • The client’s financial situation may materially change, adversely affecting their investment loan.
  • Adverse market and/or security specific conditions may result in the value of their security being insufficient to repay their loan.

For general information on the risks involved, visit www.moneysmart.gov.au/investing/borrowing-to-invest.


How can my clients manage the risks of an investment loan?

There are a number of things you can do to reduce the risks associated with an investment loan. They include:

  • Don’t borrow to the maximum permitted gearing level (i.e. the Base LVR)
  • Diversification may help to smooth out volatility, making a margin call less likely. When you spread your portfolio across different companies and sectors, a fall in the value of one investment may be offset by a rise in the value of another.
  • Reinvest distributions and dividends into your investment loan which can lower your gearing level.
  • Pay your interest costs instead of capitalising them as it increases your loan balance and gearing level.
  • Don’t rely on investment income to cover your interest costs
  • Ensure you have sufficient cash flow - Work out your interest payments and other costs in advance. Remember that interest rates may rise or you may be required to meet a margin call within short timeframes.
  • Monitor your investments:
    Regularly monitor the market and your margin loan, and be prepared to adjust your strategy when the market outlook is less positive. Your account information is available anytime online. If your account is in buffer, use the time to be proactive and avoid a margin call

How can I update my clients' personal details?

Simply complete the Change of Personal Contact Details Form and return to us by:

eSubmit: Once logged in navigate to Administration > eSubmit.

Post:
CommSec Adviser Services
Locked Bag 34
Australia Square NSW 1214

We will process the request within approximately 48 to 72 hours of receipt.


How long does it take to process redemptions, reinvestments, and investment switches for clients?

We process your client’s redemption within 5 business days of receipt. Please allow at least 10 business days to complete the instructions, once authorised by our office.

Processing time varies depending on each Fund Manager's service level of agreement.


How do my clients repay or close their Investment Loans?

Simply have your clients complete the Investment Loan Closure and Repayment Form and return to us via:

eSubmit: Once logged in navigate to Administration > eSubmit.

Post:
CommSec Adviser Services
Locked Bag 34
Australia Square NSW 1214

We will process the request within approximately 48 to 72 hours of receipt.


This information was prepared by CommSec Adviser Services, a brand of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945, administered by its wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited ABN 80 067 254 399 AFSL 238614, a Participant of the ASX Group and Chi-X Australia. Only investors who fully understand the risks associated with gearing into investments should apply. Applications are subject to credit approval. Fees and charges apply. Please consider the Product Disclosure Statement (PDS) and Terms and Conditions, issued by the Bank before making any decision about the product.

CALIA+ FAQs



CALIA+ Application

Applications are no longer accepted for this product.

CALIA+ Post-Settlement

How often are CALIA+ statements sent to the borrower?

A consolidated account statement is sent every month.



How can my clients transact on their CALIA+ facility?

All clients can transact on their CALIA+ Variable sub-account via ATM, NetBank, EFTPOS, BPAY®, Telephone Banking, cheque book or at any Commonwealth Bank branch. Transactions on CALIA+ Fixed Loans are limited to the initial draw down and the final repayment. Transactions on CALIA+ Investment Loans can be conducted by contacting our Client Service team on 1800 252 351.



How can my clients make loan repayments on their CALIA+ Variable Line of Credit?

A loan repayment from a Commonwealth Bank account can be transferred into a CALIA+ Variable Line of Credit via NetBank, Telephone Banking, or using a Commonwealth Bank ATM. Cash or cheque repayments can be deposited directly into the CALIA+ Variable Line of Credit at any Commonwealth Bank branch.



Can the borrower nominate where the monthly interest charges for each CALIA+ sub-account is debited?

Yes. Monthly interest charges can be debited from any variable rate line of credit within the CALIA+ facility. CALIA+ Investment Loan interest charges may be capitalised or debited to any CALIA+ variable rate line of credit.



Is BPAY available on CALIA+?

Yes. Your clients can make payments using BPAY using NetBank or Telephone Banking.



How can my client obtain access to NetBank or Telephone Banking?

NetBank access can be obtained by completing Section 4 of the CALIA+ application form. If access was not requested as part of CALIA+ application, clients can register for this service online by clicking here or by calling 13 22 21 (24 hours 7 days a week).



Is a CALIA+ Investment Loan considered a sub-account and does it count towards the additional sub-account fee?

Yes. A CALIA+ Investment Loan is considered a CALIA+ sub-account and is included in the determination of any additional sub-account fee. The first three sub-accounts do not attract this fee, however each additional sub-account will be charged a monthly $8 additional sub-account fee.

Making changes to the CALIA+ facility

How do clients increase their CALIA+ Bundle Limit?

Credit limit increases are no longer available for this product.



How do clients change their sub-account limits?

If the proposed change to the sub-account credit limits remain within the approved CALIA+ Bundle Limit, please email or write to us with the details of the required sub-account limit adjustments. A credit assessment is not required.



How do clients set up or change a periodic payment on a CALIA+ Variable Loan?

A periodic payment can be established or changed via NetBank. Alternatively, a client can establish or change a periodic payment by visiting a Commonwealth Bank branch or calling 13 22 21.



How do clients activate their CBA Keycards (ATM cards)?

Clients can activate a CBA Keycard by calling 13 22 21 (24 hours a day, 7 days a week).



How does a client notify you of changes to their personal details?

Clients should write to us at address: Locked Bag 34, Australia Square NSW 1214.



How do clients close a CALIA+ facility?

In order to close the CALIA+ facility, please have your client complete and return a Discharge Authority form to release the security and provide instructions for the disbursement of funds.

If your client has an Investment Loan as part of the facility, then the Investment Loan must be closed before the Discharge can be approved.  Please complete an Investment Loan Closure Form and return to us as per the instructions on the form.

Please:

As the Discharge Authority Form is not specific to the CALIA+ Product, the form MUST list:

  1. Each CALIA+ Account and a confirmation of whether each account is to be closed or converted to a Smart Access Transactional Account with the same BSB & Account number.
  2. A Surplus Funds Bank account.
  3. A Settlement Fee Bank Account, which must have sufficient funds to pay the discharge fee of $250.00 and a third party Land Title Office release fee (which is unascertainable). This can be the same account as one of the above accounts.
  4. If there is a refinance or sale of property involved: the conveyancer or solicitor’s contact details for settlement, including:
    • Company Name
    • Contact details
    • Name of the person who will be booking settlement (please do not use the ‘Broker’ contact details, as brokers do not book settlements)
  5. If the loan has been paid in full and there is to be a discharge with no settlement: the CommBank Branch where the client would like to pick up the Title Deed, as it cannot be posted to the client directly. Please note that in states that use Electronic Titles under PEXA, paper titles may no longer be available.

See more detailed instructions.

Important Information

BPAY is registered to BPAY Pty Ltd ABN 69 079 137 518

CALIA+ is one of the products available under the CommSec Adviser Services brand, and is provided by Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (‘Bank’). The Bank’s wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814, a Participant of the ASX Group and Chi-X Australia, only administers the Investment Loan Sub-accounts within CALIA+. Applications are subject to credit approval. Fees and charges apply.

General FAQs



Estate management

If you have recently lost someone close to you, we understand this may be a very difficult time. We want to make it as simple as possible for you to manage their account.

Below is information that will help guide you through this process, from how to notify us through to what documents you will need to provide. The below relates to all products offered through us however there are some specific requirements depending on the products held, where noted below.

Further detail can be found below in our Frequently Asked Questions.

To assist in understanding some of the terms which are used in the below that you may not be familiar with, we recommend reviewing the Glossary below.

What you need to do

Step 1: Notify us

To ensure the account of your recently deceased client, family member or friend is protected1, please notify us by phone or email of their passing as soon as possible. Please provide us with the deceased’s:

  • Full name
  • Account number/s
  • Postal address
  • Date of birth
  • Date of passing

The property and assets of someone who has passed away is known as a ‘deceased estate’, so your notification will be received by our Estate Management team. They will send you details of the next step, which relates to the formal documentation we require. Once your details have been verified, the team will:

  • send you details on what to do next;
  • remove all authorities who have access to the account and restrict all trading; and
  • switch off any recurring fees.

Please note that from here, we are only able to take instruction from the Estate executor, Administrator or appointed solicitor.

Step 2: Provide formal documentation

The documentation we need will depend on the account ‘type’ held by the deceased. We will send you a list, but if you already know the account type, please select the relevant ‘What formal documentation do I need to provide if someone with an account in a/an individual/joint/trust name has passed away?’ FAQ below to find the general requirements.

Once we receive this documentation, the shares in the account will nearly be ready for transferring or selling. At this point, we are also able to provide more detailed account information, for example, details on the types of ‘holdings’ (assets) within the account, so please see the relevant ‘How can I find details of the account/s held by a deceased customer?’ FAQ below for more information.

Step 3: Transfer or sell the shares

Once we have all the necessary documentation, we can ‘disburse’ the shares, which means we can sell or transfer them. Again this process depends on the ‘type’ of account held by the deceased, so please see the relevant ‘How do I sell or transfer the shares of someone with a/an individual/joint/trust account who has passed away?’ FAQ below for more information.

We’re here to help

We are very sorry for your loss, and want to help you by making this process as simple for you as possible. For more information on managing the account/s of a deceased estate, please view the below Estate management frequently asked questions and glossary. Alternatively, please contact us.

CommBank also provide a range of helpful information, advice and guidance that you may find useful.


Share Trading FAQs
Someone I know with an account has passed away without leaving a will. What should I do?

In the event that a customer passes away without leaving a will, the documentation we require depends on the amount of ‘holdings’ (assets) in their account.

For holdings of less than $50,000, we require notification of the customer’s passing from an Administrator or the Next of kin. We will review the account and respond with details of next steps.

Where the deceased has over $50,000 in holdings, we require a Letter of administration in lieu of a will.

Please send these details to us with the relevant account name and number, your contact details and information about your relationship to the deceased.

Can I still trade on a Deceased Account as the adviser?

No, once we receive notice that a client has passed away we will be required to place a restriction on the account1. Before the account can be used to buy or sell shares again, we will require the relevant document to be provided and follow our standard process.

I am the executor or beneficiary of an estate where the deceased did not have a trading account, but I do. How do I transfer these shares into my account?

In this instance, the documentation we require depends on the amount of holdings (assets) held with the share registry.

For accounts with less than $50,000 in holdings we require:

Option 1

  • A certified copy of a Probate/Letter of administration, or

Option 2

  • A certified copy of the Death certificate; and
  • A certified copy of the Last will and testament (will); and
  • A Small Estates Indemnity form.

For accounts with more than $50,000 in holdings we require:

  • A certified copy of a Probate/Letter of administration.

Once we receive the relevant documentation, the shares will need to be transferred. To do this, please complete a Deceased Estate Off Market Transfer. Please note that fees may apply.

How can I find details of the account/s held by a deceased customer?

We can provide information to the Estate executor, Administrator or appointed solicitor, such as details of current portfolio holdings (account assets) and historical transaction summaries, provided we receive the following documentation:

Please send your request to us with the relevant account name and number, your contact details and information about your relationship to the deceased.

How do I manage the estate of a deceased customer who held an account in a company name?

Unlike people, companies cannot become ‘deceased’, so we treat these accounts differently to ‘deceased estates’. In the event that a director of a company with an account in its name passes, you will firstly need to contact ASIC to update the company information. Please then let us know via phone or email. We will request a certified copy of the Death certificate.

To add a director, please complete an Authority to trade form and send this to us with a certified copy of the new director’s identification (passport or driver license).

When an account is locked pending receipt of all documents, how can dividends and other proceeds be accessed?

Once we are notified that an account holder has passed away, we lock1 the account until all relevant documentation has been provided. During this time, any proceeds from the account, such as dividends or accrued interest, will be inaccessible through our website.

The Estate executor can still access these funds, via the relevant share registry. You may need to provide the share registry with new details, such as an updated tax file number, dividend plan and banking instructions. Please contact the relevant share registry to confirm.

What is a testamentary trust and what documents are required to setup the account?

A testamentary trust is a trust established under a will, providing control over how assets are distributed to Beneficiaries when the trust owner passes away. We recognise two types of testamentary trusts’:

It is possible to set up a trading account in the name of a trust. To do this, please send us the following documents to confirm the trust has been established:

  • A certified copy of the will; and
  • A certified copy of the Death certificate; or
  • A certified copy of the Probate/Letter of administration in relation to the estate trust.

Please also set up a trading account to reflect the new trust structure.

How do I close the trust of a deceased account holder?

If a member of a trust or ‘trustee’ has passed away, you may wish to close down any trusts that they were a part of (e.g. self-managed super fund (SMSF), retirement fund or family trust). To close down an account owned by a trust, the executor or remaining trustee (as applicable) will need to send us instruction with a certified copy of the Death certificate along with a certified copy of the most recent trust deed (a legal document setting out rules for establishing and operating the fund).

What formal documentation do I need to provide if someone with an account in an individual name has passed away?

An individual account is an account belonging to one person only, e.g. John Smith.

Once we receive notification of the passing of an individual account holder, we will ‘lock’ the account to ensure it is protected1. We will then require the below documentation.

For an account with:

Nil ‘holdings’
(assets within the account)		 Holdings worth under $50,000 Holdings worth over $50,000

Please provide a certified copy of the Death certificate.

Once received we will
close this account.

Please provide:

And

  • Option 1
    • A certified copy of a Probate/ Letter of administration.

Or

  • Option 2
    • A certified copy of the Death certificate; and
    • A certified copy of the Last will and testament (will); and
    • A Small estates indemnity form (per account).

 

Please provide:

Once received, the shares are ready to be sold or transferred.

How do I sell or transfer the shares of someone with an individual account who has passed away?

An individual account is an account belonging to one person only, e.g. John Smith.

Once we receive notification of the passing of an individual account holder, we will ‘lock’ the account to ensure it is protected1. We will then require the below documentation.

Once we receive this documentation, the shares will be ready to be sold or transferred.

Selling the shares

To do this, we require all Estate executors to complete a Deceased estate trade form.

Sale trades will then be placed at ‘market price’ (the price of the share at the time of sale) by the participant.

Phone brokerage applies – Please refer to the FSG to view phone brokerage rates.

Proceeds will be paid by cheque in the name of the deceased, and sent to the address nominated on the Deceased estate trade form within five days of the trade being made. Please note that we are unable to direct funds to a nominated bank account.

Transferring the shares

To arrange for the shares to be transferred to one or more executor/s or Beneficiary/ies, please complete a Deceased estate off market transfer form. If the transfer is to be made to an existing trading account, please complete an Internal Bulk Off Market Transfer form instead.

Once received, we will action your request within 14 days, however if this is not possible for any reason we will let you know.

Note: We understand that you may not be ready to sell or transfer all shares at a single point in time. If this happens, we will send you a reminder, but please note that any shares remaining in the account three months after the initial sale or transfer will automatically become Issuer Sponsored. This means they will be registered as per the current name and contact details held on associated with your Holder Identification Number (HIN) with the relevant share registry for each security. You would then need to then liaise directly with the share registry to manage the shares.

What formal documentation do I need to provide if someone with an account in a joint name has passed away?

A joint account is an account belonging to more than one person, e.g. John Smith and Anna Smith.

Once we receive notification that one of the joint account holders has passed away, we will ‘lock’ the account to ensure it’s protected1. The next step is to send us a certified copy of the Death certificate, or a certified copy of a Probate/Letter of administration.

Once received, the shares are nearly ready to be sold or transferred. If there are no shares within the account, the account will be closed.

How do I sell or transfer the shares of someone with a joint account who has passed away?

A joint account is an account belonging to more than one person, e.g. John Smith and Anna Smith. When we receive notification that one of the joint account holders has passed away, we ‘lock’1 the account until all relevant formal documentation is received. (Please visit ‘What formal documentation do I need to provide if someone with a account in a joint name has passed away?‘ FAQ above for more information.)

Once this documentation is received, the shares will be automatically transferred to the remaining account holder/s existing trading account and the joint account will be closed. If there is no existing trading account/s, we will automatically set one up – there is no need to reapply.

The shares are no longer considered as part of a ‘deceased estate’, as they are now in an account held solely by the surviving customer/s.

The shares may then be:

Sold

Simply log into the website and place a trade.

Transferred

Visit our website and navigate to the forms page. Here, you will find all transfer options and instructions, including:

  • transferring the securities to another broker
  • transferring securities from another broker
  • transferring securities from a share registry

To transfer shares to a share registry, please phone us.

What formal documentation do I need to provide when someone with a formal trust account passes away?

A formal trust account is one opened using a trust deed (a legal document setting out rules for establishing and operating the fund), such as a self-managed super fund (SMSF), retirement fund or family trust account.  A formal trust account with may have a title like: John Smith and Anna Smith <Smith SMSF>.

Once we receive notification that one of the formal trust account holders or ‘trustees’ has passed away, we will ‘lock’ the account to ensure it’s protected1. We then require:

  • A certified copy of the Death certificate; and
  • A certified trust deed amended to acknowledge the death of one trustee and replace them with another.

Once received, the shares are nearly ready to be sold or transferred.

If there are no shares within the account, the account will be closed. If there are shares in the account, a new trading account will need to be opened, reflecting the new trust structure. To do this, please apply here.

How do I sell or transfer the shares of someone with a formal trust account who has passed away?

A formal trust account is one opened using a trust deed (a legal document setting out rules for establishing and operating the fund), such as a self-managed super fund (SMSF), retirement fund or family trust account. A formal trust account with may have a title like: John Smith and Anna Smith <Smith SMSF>.

Once we receive notification that one of the formal trust account holders or ‘trustees’ has passed away, we will ‘lock’1 the account until all relevant documentation has been received. (Please visit ‘What formal documentation do I need to provide if a friend or family member with a formal trust account has passed away?‘ FAQ above for more information.)

When this step is complete, shares are ready to be transferred to a new account set up to reflect the new trust structure. (Please visit the ‘What formal documentation do I need to provide when someone with a formal trust has passed away?‘ FAQ above for more information.) Here they can be sold if the ‘new’ account owner/s chooses.

To transfer shares to a new account, please complete an Internal Bulk Off Market Transfer form. Once received, we will action your request within 14 days, however if this is not possible for any reason we will let you know.

Dissolving the trust

Another option is to close or ‘dissolve’ the trust. (Please visit the ‘How do I close the trust of a deceased account holder?‘ FAQ above for more information.)

I am the executor of an estate where the deceased held an options account. How do I manage this?

Firstly, please notify us of the customer’s passing by phoning us. This will mean that for the options account, we will be able to reduce the potential for market risk by closing any open positions as quickly as possible.

We will then require certain formal documentation, but which depends on multiple factors. We will advise on which formal documentation we require when we receive your notification.

Margin Lending FAQs
I am the executor of an estate where the deceased held an Investment Loan. How do I manage this?

If a person with an Investment loan passes away, all loan obligations become the responsibility of the Estate executor. Also known as a margin loan, an investment loan is a facility whereby money has been borrowed to invest, using shares or managed funds as security. An investment loan charges interest, until the balance is repaid.

If you require information on a specific investment loan, please provide us with:

Please send these details to CommSecAdviserServices@cba.com.au with the relevant account name and number, your contact details and information about your relationship to the deceased. Investment loans can be complex and the next steps can differ depending on factors like the assets held and borrower type. Once notified, we will advise you of next steps.

CALIA+ FAQs
I am the executor of an estate where the deceased held an Investment Loan.
How do I manage this?

If a person with a CALIA+ loan passes away, all loan obligations become the responsibility of the Estate executor.

To allow us to assist, we will need you to provide the following :

  • a certified copy of the Death certificate; and
  • a certified copy of the Last will and testament (will).

Please email the documentation to us. Alternatively, call us to discuss your options.
Once notified, we will advise you of the next steps.

Accelerator Cash Account FAQs
I am an adviser and my client has passed away. What happens to their Accelerator Cash Account?

If documents have been supplied to the Commonwealth Bank, you may be required to supply another copy to CommSec Adviser Services for our records. For enquiries relating to other CBA banking products including Accelerator Cash Accounts (ACA) please contact your local branch to assist with completing a CBA Deceased Customer Notification form, call 1800 686 153 (8:30am to 5:00pm EST, weekdays), or write to: Estate Settlement and Support, PO Box 334, Silverwater NSW 2128.

I am the executor of an estate where the deceased held an Accelerator Cash Account. How do I close this account?

We are very sorry for your loss. Please visit your nearest CommBank branch, where you will be asked to complete a Deceased Customer Notification form.

For more information on estate management with Commonwealth Bank, please click here.

Estate management glossary

  • Administrator - The person/s appointed by the court in the event of no Will.
  • Beneficiary - Someone who receives or shares in the proceeds from a deceased person’s estate.
  • Death certificate - An official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  • Deceased estate – The property and assets of someone who has passed away.
  • Executor - The person/s named in a Will to take charge of the deceased’s assets and property.
  • Last will and testament (will) - A legal document in which a person specifies how they wish their estate to be distributed after their passing.
  • Letter of administration – A documents granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate, in the absence of a valid Will.
  • Probate - A document issued by the Supreme Court that confirms the validity of a Will, and authorises the executor/s to act.  If this was issued as an electronic grant after 26/11/2018, a non-certified copy is acceptable.
  • Next of kin - A person's closest living relative or relatives.
  • Trustee - A trustee is an individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.

1Under ASX business rules, all CHESS holdings on individual and single trust accounts must be ‘locked’ on initial notification of a deceased estate. This means shares cannot be transferred or sold until all requirements have been satisfied.

Financial difficulty

If the unexpected happens and you’re having trouble paying what you owe, please get in touch. We may be able to help.

Sometimes unexpected events can occur in life which can leave you needing support to get financially back on track. Our Customer Service team may be able to help customers experiencing financial difficulty with products issued or managed by AUSIEX or its related entities by:

  • pausing margin loan* interest repayments;
  • applying concessions to fees and charges; and/or
  • working with you to develop a payment plan.

Did you know that missed or late payments can impact your credit report? For further information, please click here

Our financial assistance process

  1. If you’re experiencing financial difficulty, please contact us. You will be assigned a dedicated case manager, who will ask you questions about your situation and may ask you to provide documents such as payslips, bank statements and medical certificates.
  2. We will review all information available, and get in touch with you to discuss next steps.
  3. At this point, if you choose to apply for financial assistance, we will ask you to submit an application which we will review and either accept or decline.
  4. If accepted, we will work with you to develop a tailored financial assistance plan. If your application for financial assistance is declined, we will let you know our reasons in writing.

If you prefer, we can also work with a representative nominated by you, such as a financial counsellor. Please provide us with their details at any stage of the process.

If you have already applied for financial assistance with us and you are not satisfied with the response, you have the right to lodge a complaint. Please click here for more information.

Your financial assistance plan

This tailored plan of action will:

  • provide details of the new arrangement;
  • highlight any necessary repayments;
  • explain when the new arrangement will end; and
  • advise next steps.

We're here to help

For more information or to apply for financial assistance with us, please contact us.

You may also find these external resources helpful.

Important information

*A margin call happens when one or more of the securities held in a margin/investment loan account decreases in value below a certain point. This results in the investor having to either deposit further collateral (cash, approved shares or managed funds) to increase the portfolio value, or sell a sufficient part of the existing portfolio to reduce the loan balance.

Trading FAQs



How does my client transfer existing Broker Sponsored holdings to CommSec Adviser Services?

Your client may elect to transfer all or part of an existing holding in the same name from either another Broker or an Issuer by completing the below request form:

  • Issuer Sponsored Transfer Request
    (Please login first for the online transfer link to become active.)
  • Broker to Broker Transfer Request
    (If the share holdings are not in the same name, your client can transfer these to their share trading account by completing one of the following:
    • Off Market Transfer Form
      For use when transferring shares between another Brokers Account and your CommSec Adviser Services Trading Account or from your CommSec Adviser Services Trading Account out to the Share Registry (fees may apply).
    • Off Market Transfer Form for Issuer to Chess Transactions
      For use when transferring Issuer Sponsored holdings into your CommSec Adviser Services Account (fees may apply). If the seller is not an existing CommSec Adviser Services or a Commonwealth Bank customer, additional identification is required.
    • Internal Bulk Off Market Transfer Form
      For use when transferring multiple holdings from one CommSec Adviser Services account to another CommSec Adviser Services account only (fees may apply). This form will allow bulk transfer of up to eight securities using one form.

What can I trade for my client?

 

  • All ASX-listed securities
  • All warrants listed on the ASX and Chi-X (additional forms required to trade warrants and partially paid securities)
  • Exchange Trade Funds (ETFs)
  • Exchange Traded Commodities (ETCs)
  • Exchange Traded Options (ETOs - where an options account has been established)
  • Listed company-issued options
  • Listed unit trusts
  • Listed convertible notes
  • Renounceable rights
  • Listed fixed interest securities
  • Australian Government Bonds
  • International securities are not available through CAS

 

All ASX-listed securities are tradeable through Chi-X Australia market.


How do I place a trade on behalf of my clients?

Once your client's trading account has been set up, there are several ways to place trades:

Online

We've made placing a share trade quick and easy by giving you the ability to place a trade in a number of different ways:

  • From the Quotes page, once you've located your desired security,
    click Buy or Sell.
  • From your Watchlist or Portfolio click on a stock to be taken to the Quotes Page.
    From there you can choose to Buy or Sell as described above.
  • On the main menu, navigate to Trading > Share Orders > Place Order.

To place an order you will first need to select a client. If you have not selected a client you will be redirected to the My Clients > Find Client Screen to select one. Once you have selected a client, to place an order from the Share Orders > Place Order page simply complete all fields marked with a red asterisk and follow the prompts. You can learn more about what information is required in each of the fields by hovering your mouse cursor over the question marks to the left of each field.

Place_order

Phone
  • Step 1: Please contact us
  • Step 2: You will be asked to provide your client's name and trading account details to verify them.
  • Step 3: You will be asked to provide your adviser code and Dealer Group name as part of our verification process. In some instances you may be required to provide more information.
  • Step 4: Once the details of your order have been confirmed, we will endeavour to place the order in the market.

Confirmation notes will be sent to you and your client via their preferred delivery method (email or paper confirmation notes) on the day the order is executed.


Do you offer discounted client brokerage?

Yes, we have discounted brokerage available for your clients who link their trading account to an existing or new Accelerator Cash Account or Investment Loan . For more details, please contact us.


What information do I need to supply when my client is changing from an individual or joint trustee to a corporate trustee?

    We require all the following information to change an individual or joint trustee to a corporate trustee:

  • An email from you notifying us about the change of trustees; and
  • A completed application form; and
  • Deed of Variation; and
  • A completed Off Market Transfer form to transfer the stock to the new account; and
  • A confirmation email from you to close the old account once the transfer of stock is complete.
  • One supporting document from the below list to confirm the new trustees:
  1. a notice from the Australian Taxation Office, such as a notice of assessment, issued in the last 12 months; OR
  2. a Bank Statement from another financial institution from the last 12 months; OR
  3. a letter from the Legal Practitioner who prepared the Trust Deed confirming:
  • the Legal Practitioner assisted in the creation of the Trust;
  • the Trust has been established;
  • the full name of the Trust;
  • the full name of all Trustees; and
  • the full name of the Settlor of the Trust (unless the material asset contribution to the trust by the settlor at the time the trust is established is less than $10,000 or the settlor is deceased).
    (Supporting documents do not need to be certified).

If no supporting documentation can be provided, you will need to post an original certified photocopy (wet-ink) of the Trust Deed to Locked Bag 3005, Australia Square NSW 1215.


Can I place single and multi-stock trades for my clients?

Yes. You can place single stock, multi-client orders and multi-stock, single client orders through our trading platform.

Placing a single stock or multi-client order

There are two ways to access the 'Single Stock, Multi-Client' order pad:

  1. From the My Clients > Find Client page; and
  2. By clicking on Trading in the top menu and selecting Single Stock, Multi-Client

When starting from the My Clients > Find Client page, tick the boxes to the left of each client record to select the clients you wish to place a trade for and click Place Multi-Client Order.

Step 1. Set Up

Complete the order details in first section of the page as you would for a single order and select Apply Instructions to apply them to each client.

Amend the order details for individual client if required and click Proceed to review before placing order.

Step 2. Review

Review your Buy or Sell order then confirm your approval by entering your trading password and clicking Submit.

Step 3. Confirmation

You will now receive a confirmation of your order.

Single_stock_multi_client
Placing a multi-stock trade

There are several ways to place a Multi-Stock trade for a client:

1. To Buy new stocks for a client, use the Multi-Stock, Single Client order pad from Trading in the top menu; and

2. To Buy or Sell stocks a client currently holds, use the Holdings page (Client Portfolio > Holdings).

3. Buy multiple stocks for a client directly from your watchlists.

Step 1. Setup

Within the 'Setup' screen, simply type in the stock code or description of each stock and select Add to Order.

Select the relevant brokerage option for this client and click Proceed.

Step 2. Review

Review your Buy or Sell order then confirm your approval by entering your trading password and clicking Submit.

Step 3. Confirmation

You will now receive a confirmation of your order.

Multi_stock_single_client

For more information please see our Multi Line Order Functionality online demo.


What is the settlement process and contra?

Settlement takes place 2 business days (T+2) after your order is partially or fully executed with CommSec Adviser Services, unless the stock is trading under a Deferred Settlement basis or you have been affected by Contra, please see below for further information on Contra. For example, if your order is executed on Monday, funds will be directly debited or credited to you on Wednesday and will clear overnight, provided there are no ASX non-settlement days. Please check the ‘Site News’ articles on the CommSec Adviser Services website for updates on ASX non-settlement days

Contra is the offsetting of buy and sell trades is often referred to as 'contra'. CommSec Adviser Services may offset buy and sell trades over different days of the settlement period. This generally makes it easier for you to manage your funds required to settle buy and sell trades.

 

The below is an example for how contra may affect settlement of your client's trades.

Contra


What are the trading times?

Australian Securities Exchange

Shares, Bonds, Hybrid Securities, Exchange-traded products, Managed Funds, Warrants and Structure Products

The Australian Securities Exchange (ASX) opening takes place at 10:00am (AEST) and lasts for about 10 minutes. Securities open in five groups, according to the starting letter of their ASX code, but reserve the right to vary these times:

  • A-B 10:00:00am +/- 15 secs
  • C-F 10:02:15am +/- 15 secs
  • G-M 10:04:30am +/- 15 secs
  • N-R 10:06:45am +/- 15 secs
  • S-Z 10:09:00am +/- 15 secs

The market is placed in a pre-closing phase between at 4:00pm and 4:10pm (AEST). Trading stops and brokers enter, change and cancel orders in preparation for the market closing.

The Closing Single Price Auction takes place at a random time between 4:10pm and 4:12pm (AEST). ASX calculates closing prices during this phase.

Exchange Traded Options and Index Options

Market trading hours for both exchange traded options and index options are from 10am to 4:20pm (AEST).

Chi-X Australia

Chi-X Australia market continuous trading occurs from 10:00 – 4:12pm (AEST) where:

  • Participants may enter orders into the Chi-X market
  • Orders are matched in accordance with the rules
  • Trade reports may be lodged in accordance with the Market Integrity Rules

The Chi-X Australia market opening at 10:00am is a standing start for all Chi-X quoted securities. This means some securities will be available for trading on Chi-X before they are open for trading on ASX.

Please note that unlike the ASX, Chi-X Australia does not operate an opening and closing auction.

 


How do I close a trading account with CommSec Adviser Services?

To close a trading account, please complete and return an Account Closure Request form and return to us as per the instructions on the form.

If you no longer have an adviser, please complete the form and return to us via post to:

CommSec Adviser Services
Locked Bag 3005
AUSTRALIA SQUARE NSW 1214

Once received, we will process the request within approximately 3 business days. Account holders will receive notification of the cancellation of their Holder Identification Number (HIN) from the ASX upon the closure of their account.


The examples are for illustrative purposes only. The name and identifying features do not reflect any particular person; any resemblance to a real person is coincidental.

The presence of the stock mentioned should not be construed as a recommendation. No representation is given, warranty made or responsibility taken as to the appropriateness or performance of this stock.

The information in this website has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should consider its appropriateness, having regard to your objectives, financial situation and needs and, if necessary, seek appropriate professional advice. If a Product Disclosure Statement is available in relation to a particular financial product, you should obtain and consider that Product Disclosure Statement before making any decisions about whether to acquire the financial product. Any securities or prices used in the examples on this website are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Past performance is not indicative of future performance.

This site is directed and available to and for the benefit of Australian residents only. Share Trading and Portfolio Administration and Reporting are services provided by Australian Investment Exchange Ltd (AUSIEX) ABN 71 076 515 930 AFSL 241400, a Participant of the ASX Group and Chi-X Australia. AUSIEX is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia (CBA) ABN 48 123 123 124 AFSL and Australian credit Licence 234945. Lending products under the CommSec Adviser Services brand are provided by CBA. Investment Loans are administered by its wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited (CommSec) ABN 60 067 254 399 AFSL 238814, a participant of the ASX Group and Chi-X Australia.

Cash Management FAQs



How do I request for a Term Deposit quote?

To request for a Term Deposit quote you will need to contact our Account Managers team via either phone or email.


Can I obtain an account number prior to my clients completing the ACA Application Form?

Yes, please contact us and one of our Service Team members will generate an account number for you.


Can I operate my clients' Accelerator Cash Accounts (ACAs) on their behalf?

Yes, your clients can give you the authority to operate their ACAs to:

  • Transfer funds
  • Request statement reprints
  • Retrieve account balances and transaction history via your third party planning software

How can I obtain authority to operate on my clients' ACAs?

For new accounts, simply complete the 'Adviser Authority to Operate' section of the Application Form with your client.

For existing accounts, you and your client need to complete the Adviser Authority to Operate Form.


What kind of funds transfers can be made to and from the ACA?

Account holders and those with authority to operate the account can transfer money to any other bank account held at CommBank or another financial institution.

ACAs can receive funds transfers from any other bank account.


How do I close an ACA?

If your client would like to close their ACA, we will require a closure form to be completed and signed by the client.


How can I view periodic payments?

Only advisers with transact access can view their clients periodic payments. These can viewed by going to "Administration" and then "Funds Transfers". If you do not have transact access on your clients ACA you can contact us on 1800 252 351 or email us at advisercashteam@cba.com.au


How do I transfer funds on behalf of my clients?

Account holders and those with authority to operate the account can transfer money to any other bank account held at CommBank or another financial institution.

ACAs can receive funds transfers from any other bank account.


How do I transfer funds on behalf of my clients?

In order to transfer funds on behalf of your clients, you must have authority to operate their ACA - see the How can I obtain authority to operate my clients' ACAs? FAQ above.

You can transfer up to $30,000 using our online transfer tool. Once logged in, navigate to Administration > Payments & Transfers > Funds Transfers. Select the account you want to transfer funds from and the transfer type then follow the prompts to complete the transaction. Note: you will need to ensure both your client’s email address and your mobile phone number are registered with us.

For transfers above $30,000 you will need to complete a Transfer Request Form. The form will need to be signed by all relevant account signatories.


Will my clients be notified when I submit a funds transfer request?

Yes, as of 20 October 2018, we are now sending email and SMS notifications to all Accelerator Cash Account (ACA) account holders for all online and manual adviser-initiated cash transfers, BPAY and scheduled transfers. We will also send batch fee notification emails to all ACA account holders. These changes are part of our continued commitment to increase visibility and transparency for clients.

Can my client/s opt out of this service?

No. This is a mandatory service requirement and therefore clients cannot opt-out of this service.


Which email address will the notifications be sent to?

Notifications will be sent to the preferred email address for each client associated with the account.


Which mobile phone number will the notifications be sent to?

The notifications will be sent to the preferred mobile number for each account holder. If no mobile number is added as their preferred, notifications will be sent to their most recently added mobile number.


How do I check that my client’s details are up to date?

You can view the primary client’s details online by following the below steps:

  1. Clients > Find client account
  2. Select ‘Client Profile’ in the actions box next to the relevant client
  3. For other account holders, please call the Adviser Service Team or your Relationship Manager. We are more than happy to validate these details to ensure we have correct contact details for your clients

What if my client/s don’t have an email and/or mobile phone number listed?

As part of our continued commitment to increase visibility, security and transparency for clients we do encourage you to provide this information as soon as possible. To update your client’s details, please follow the steps outlined in the below FAQ.


How do I update my client/s details?

Please complete a Change of Personal Contact Details form by logging in to your account and navigating to Administration > Forms > Cash & Term Deposits > Account Administration and Maintenance. Once completed, please eSubmit the form and we will endeavour to process the form within 48 hours.


What happens if the notification email is undeliverable to one of my clients?

If the notification email is undeliverable to any of the account holders, your ability to complete further BPAY and funds transfers on behalf of the client will be locked. If this occurs, you will be notified via email and required to update your client/s contact details in order to restore your ability to transfer funds on their behalf.


Will the funds transfer be stopped if the email is incorrect?

No, the initial funds transfer will still proceed however your ability to perform further funds transfers will be suspended until updated email details are received. We will send you an email to notify you when a client notification email is undeliverable.


How do I restore my ability to transfer funds on behalf of my clients?
  1. If the client’s email address is still valid - you will need to contact Adviser Services or your Relationship Manager to confirm the email address is correct.
  2. If the client’s email address is incorrect - please complete a Change of Personal Contact Details form by logging in to your account and navigating to Administration > Forms > Cash & Term Deposits > Account Administration and Maintenance. Once completed, please eSubmit the form and we will endeavour to process the form within 48 hours.



How can my clients transfer funds from their ACA?

Clients with access to NetBank can transfer the funds through NetBank or via the CommBank app. Clients without access to NetBank will need to complete and return a Transfer Request Form. The form will need to be signed by all relevant account signatories.


How can I register my clients for NetBank access?

Simply email your clients' ACA details to us at advisercashteam@cba.com.au and we will send them an email with their NetBank Client Number and an SMS containing their temporary password (valid for 28 days).


Do my clients need to provide their Australian Business Number (ABN) and/or Tax File Number (TFN)?

Providing your clients' ABNs and/or TFNs is not compulsory however if you don't, tax may be withheld from their interest at the highest marginal tax rate plus Medicare levy. If you would like to provide these details we can accept this in an email from the authorised adviser.


How do I close an ACA or Term Deposit?

To close an ACA or Term Deposit, please complete and return an Account Closure Request form and return to us as per the instructions on the form.

If you no longer have an adviser, please complete the form and return to us via post to:

CommSec Adviser Services
Locked Bag 3005
AUSTRALIA SQUARE NSW 1214

Note that for Term Deposits opened or renewed on and after 8 December 2014, you may request withdrawal of all or part of your client’s funds prior to the maturity date provided that you give the Bank 31 Days’ notice. A prepayment adjustment and $30.00 prepayment administration fee will apply.

The information in this website has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should consider its appropriateness, having regard to your objectives, financial situation and needs and, if necessary, seek appropriate professional advice. If a Product Disclosure Statement is available in relation to a particular financial product, you should obtain and consider that Product Disclosure Statement before making any decisions about whether to acquire the financial product. Any securities or prices used in the examples on this website are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Past performance is not indicative of future performance.

Issued by Commonwealth Bank of Australia ABN 48 123 123 124 Australian Financial Services Licence Number 234945. Ground Floor, Tower 1, 201 Sussex Street, Sydney, NSW, 2000. Accelerator Cash Account and Term Deposit are products of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 ('Bank') and are administrated by Australian Investment Exchange Ltd ABN 71 076 515 930 AFSL No. 241400 ('AUSIEX') under the CommSec Adviser Services brand. AUSIEX is a wholly owned but not guaranteed subsidiary of the Bank.