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Summary

The NAB Cash Manager account is an interest bearing account for trusts, funds, SMSFs and personal applicants.

An interest bearing, no fee account, the NAB Cash Manager account is available for applications in the name of a trust or a fund as well as personal applications. Get on call access to your funds when you want by making free electronic transactions via NAB online and telephone banking.

Pros

No monthly account fee
Easy to set up direct debits, direct credits, etc

Cons

Minimum opening balance required

Details

Key details

Product Name	NAB Cash Manager
Maximum Variable Rate	0.55% p.a.
Standard Variable Rate	0.55% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$5,000
Minimum Age	18

Key features

Joint and trust applications

You can apply for the NAB Cash Manager in the name of a trust or jointly with another person as well as in your own name. Trusts in the name of a business are ineligible to apply for this account.

Interest

Get rewarded with 0.55% p.a. variable interest on your NAB Cash Manager balance. Interest is calculated on the daily balance of your NAB Cash Manager account and paid monthly. You can even opt to get interest paid to a different account.

Minimum balance

Make an opening deposit of $5,000 when you apply for the NAB Cash Manager. There's no minimum balance requirement once the account is opened. If your balance is $0 for longer than 3 consecutive months, NAB can close your account.

Fees

Pay nothing to open the NAB Cash Manager account, no monthly account keeping fees and pay no transaction fees.

Direct credit

Get your regular payments such as income from investment properties, dividends or your salary paid directly to the NAB Cash Manager account.

Periodic payments

You can also arrange periodic payments from other NAB accounts.

Withdrawals

Make an unlimited number of withdrawals from this account for free at NAB branches, online and over the phone. Get EFTPOS and ATM access to your funds using the NAB Debit Card issued with the Cash Manager account. Make free cash withdrawals at NAB ATMs Australia wide.

Direct debits

Set up a direct debit agreement so your service providers such as insurers and telecommunications companies can automatically debit your account.

Statements

NAB issue statements every quarter. You can request statements more often.

How to apply

You can start an online application for the NAB Cash Manager account by visiting their website. The application can be completed in under 10 minutes.

Eligibility

Confirm your eligibility for this account before you apply.

Minimum age. You must be 18 years or older to apply for this account.
Minimum deposit. The minimum opening deposit for this account is $5,000.

Residency. You must be a permanent or temporary Australian resident to complete the online application for the NAB Cash Manager account.
SMSF applications. Provide the name of the trust or fund and information about any other NAB accounts held by the fund.

Documentation needed

Provide the following information when you apply for the NAB Cash Manager account.

Personal information. Enter your full name, date of birth, phone number, email address and address details when prompted by the online application for the NAB Cash Manager account.
Identity. Verify your identity or the status of your SMSF or trust when you apply for this account. The identity verification requirements vary depending on the type of application.
Tax. NAB will withhold tax at the marginal rate if you do not provide your Tax File Number (TFN) or TFN exemption.

What happens after I submit my application?

Once you've submitted your application for the NAB Cash manager account, you will be contacted by email to confirm your application submission. A welcome pack will arrive in the mail shortly after with information about what to do next to setup your account.

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Alison Finder

Editor

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NAB Cash Manager