Upcoming changes to Accelerator Cash Account (ACA) fees and charges

Effective 17 November 2019, the following changes will be applied to the Accelerator Cash Account (ACA):

  • Overdraw approval fee increased from $10 to $15
  • Debit interest rate lowered from 17.95% to 14.99%

Clause 21 Variation of Terms and conditions
Page 10, the following points are inserted after point "D"
"(E) Increase an existing fee or charge
(F) Introduce, remove or adjust a daily transaction limit or other periodical transaction limit
Page 11 paragraph 3, strike out "or varies its standard fees and charges."

There are a number of other benefits through using an Accelerator Cash Account as your cash settlement option for trading with CommSec Adviser Services:

  • Balance and transaction visibility through planning software1
  • Adviser transaction capability2:
    • Transfer client funds between linked client Commonwealth Bank accounts and to any Australian third party account
    • Collect fees from multiple clients simultaneously and transfer to your Dealer Group with the Batch Fee Collection functionality
    • Request statement reprints
  • Flexible adviser remuneration structure with commission and no commission options available at the client account level
  • Discounted brokerage rate of $25 or 0.11%*~ when linking your clients’ trading accounts to their ACAs.
  • Simplicity of one account to manage cash flow movements in one place
  • Competitive at-call interest rates calculated daily, paid monthly
  • No monthly account keeping fees
  • No minimum ongoing balance requirement and no minimum transaction amount

If you are not currently using an Accelerator Cash Account and wish to do so, please complete the online conversion form when logged into the trading platform under Products > Cash & Term Deposits > Apply Now or call us on 1800 252 351.

1 Not all software packages supported. Check with your Business Development Manager to see if your package is supported.

2 With signed Authority to Operate.

* Discounted brokerage applies to clients who establish a new 'bundle' from 1 December 2014. A new 'bundle' can be established by linking a new or existing CommSec Adviser Services trading account with one or more new or existing Accelerator Cash Account or Investment Loan accounts. Please also ensure your existing Financial Services Guide reflects our pricing as applicable.

~ Whichever is greater.

Published: 17 October 2019