The ANZ SMSF Cash Hub Account helps you keep on top of your balance, seamlessly manage your SMSF expenses and receive payments from your investments, such as rental income or dividend earnings, all from the one account.
This convenient account acts like a transaction account for your SMSF with unlimited free transactions, while also offering a competitive tiered interest rate for balances over $10,000.
Up to four SMSF trustees have access to the account, so each member of the SMSF can keep on top of the fund’s finances.
There are numerous SMSF cash accounts in the market, so it’s important to consider the account’s features to determine if the ANZ SMSF Cash Hub suits the needs of your SMSF.
No account-keeping fees
There are no monthly account-keeping fees charged to this account.
Unlimited free transactions
This account offers unlimited free transactions. For example, you can make payments to the ATO, to your accountant or to your SMSF auditor as well as to any other service provider you might need to pay from the account. You can also pay various investment-related expenses like brokerage costs and insurance premiums.
Receive contributions and rollovers
Receive employer and voluntary super contributions into this account before you decide where to invest the funds. If you or any members of the SMSF have an existing super fund, you can elect to have the balance rolled over into the ANZ SMSF Cash Hub account.
Receive investment earnings
Receive investment payments straight into the account, such as dividend earnings from shares your SMSF holds as well as rental payments from any investment properties your SMSF holds.
Earn up to 0.75% p.a. interest on your balance
Just because the cash in your ANZ SMSF Cash Hub Account isn’t invested in the share market or other assets, it doesn’t mean it won’t be generating a return. The funds in your account will earn a tiered interest rate of up to 0.75% p.a. for balances above $10,000. Balances below this amount won’t earn any interest.
No minimum balance
There’s no minimum balance requirement to open this account.
Link this account to your share trading account
You can link this account to your chosen share trading account to easily contribute to your investments and receive any investment earnings.
Internet banking and ANZ App
Each SMSF trustee can enjoy easy access to the cash account via ANZ Internet banking or using the ANZ app.
If an SMSF member has retired and is now drawing a pension (either via regular payments or a lump sum deposit), you can transfer funds from the ANZ SMSF Cash Account directly to a member’s own transaction account.
- Pay SMSF expenses and receive investment earnings in the one account
- Pay member pension payments (lump sum or regular payments)
- Earn up to 0.75% p.a. on your balance
- No account-keeping fees
- Balances below $10,000 don’t earn interest
How to apply
If you’ve considered all the features of this account, compared your options and are ready to apply, make sure you meet the following eligibility criteria and have the necessary documents handy.
- Australian residents. All SMSF trustees must be Australian residents with an Australian residential address.
- Registered SMSF. This account is for SMSF trustees only and is not available for personal use.
- SMSF trust deed. This account is not for personal use and is for SMSF trustees only. You’ll need to provide a certified copy of your SMSF trust deed when applying.
- TFN and ABN. You need to provide the tax file number (TFN) and ABN for your SMSF. If you don’t provide your TFN, ANZ will need to withhold tax on the interest you earn at the highest marginal tax rate.
- Corporate trustee details. If your SMSF is set up with a corporate trustee structure (as opposed to individual trustees), you need to provide the details for the corporate trustee including the ABN or ACN.
- Identification. Each trustee will need to verify their identity by providing their Australian driver’s licence, passport or proof of age card, birth certificate and/or Medicare card.