Compare cash management accounts

A cash management account helps you manage your investment cash flow while earning interest, with flexible access when you need it.

Product Finder Score Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
4.50%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances $10,000.01 to $250,000.
View details
NAB logo
Finder score
Maximum Variable Rate p.a.
0.30%
Standard Variable Rate p.a.
0.30%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
BankSA logo
Finder score
Maximum Variable Rate p.a.
1.00%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Hume Bank logo
Finder score
Maximum Variable Rate p.a.
0.01%
Standard Variable Rate p.a.
0.01%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
First Option Bank Cash Management Account
First Option Bank logo
Finder score
Maximum Variable Rate p.a.
2.50%
Standard Variable Rate p.a.
2.50%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances $250,000 and above.
View details
Woolworths Team Bank Budget Account
Woolworths Team Bank logo
Finder score
Maximum Variable Rate p.a.
0.75%
Standard Variable Rate p.a.
0.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Central West Credit Union Cash Management
Central West Credit Union logo
Finder score
Maximum Variable Rate p.a.
1.90%
Standard Variable Rate p.a.
1.90%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Key takeaways

  • A cash management account can help you keep your investment money seperate from your personal funds.
  • You can use the account to receive income from investments, like rent or dividends, while earning interest on the balance.
  • Cash management accounts typically have no fees, but some offer better interest rates than others so it's worth comparing.

How does a cash management account work?

A cash management account is essentially a savings account or bank account, although some financial institutions classify them as investment accounts. They're for individual investors, self-managed super funds, companies and trusts.

Some cash management accounts offer higher interest rates than standard bank accounts, but less interest than a high interest savings account.

As an account holder, you'll have easy access to funds in your account, and some accounts can be linked to online trading platforms so you can easily manage your investments.

What can you use a cash management account for?

A cash management account is ideal is you want to keep your investment cash flow separate from your personal banking. For example, you can use the account to receive your rental income from an investment property or dividends from shares.

It can also be a hub for your self managed super fund, where you make investments for the fund and receive income.

Looking for an account for your SMSF? There are dedicated SMSF bank accounts that act as a cash hub and also pay interest.

Alison Banney's headshot
Our expert says

"One thing to be aware of is that cash management accounts typically don't come with debit card access. They're intended for holding your money between investment opportunities - not for day-to-day spending.

So if you'd prefer to be able to access your funds via a debit card then a standard bank account would probably suit you better - although these don't pay any interest."

Editorial Manager, Money

How do I compare cash management accounts?

Interest rate. Some cash management accounts offer the same interest rate no matter how much your account balance is, while others offer tiered interest rates.

Access to funds. Check how you can access the money, for e.g.: does the account offer Internet banking, phone banking, cheque books, branch banking, and even BPAY?

Online trading. If you trade shares online, or if you plan to in the future, consider opening a cash management account that you can link to an online trading account.

Fees and charges. Cash management accounts don't usually attract ongoing account keeping or management fees. Some might not charge any transaction fees, and some others might offer a limited number of free transactions per month.

Benefits of a cash management account

  • High interest rate. When compared to a standard bank account, many cash management accounts offer a better interest rate.
  • Easy access to funds. You can access funds 24/7 via online banking, and also use your money to pay bills via BPAY.
  • Ideal for SMSFs. A cash management account can simplify your tax returns, super fund accounting and long term record keeping, given that all related transactions appear on a single statement.
  • Manage cashflow. It helps manage your investment cashflow by keeping your investment money seperate from your personal accounts.

Frequently asked questions

Sarah Megginson's headshot
Personal finance expert + media spokesperson

With over 20 years of experience in property, finance and investment journalism, Sarah is a trusted expert whose insights regularly appear across television, radio, and print media, including Sunrise, ABC News, and Yahoo! Finance. She has previously served as managing editor for Your Investment Property and Australian Broker, and her expert advice has been shared over 2,500 times in 2023-2024 alone. Sarah holds a Bachelor’s degree in Communications and a Tier 1 Generic Knowledge certification, which complies with ASIC standards. See full bio

Sarah's expertise
Sarah has written 200 Finder guides across topics including:
  • Home loans
  • Personal finance
  • Budgeting and money-saving tips
  • Managing the cost of living
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Co-written by

Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise
Richard has written 631 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

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4 Responses

    Default Gravatar
    MaryApril 2, 2018

    I will be receiving proceeds of sale of my home of about $1900000 and wish to invest it for about 2 months when I will be paying most of it as balance owing on a retirement unit I am buying. I want to maximise my interest for this period and seek advice.

      Default GravatarFinder
      JoshuaApril 2, 2018Finder

      Hi Mary,

      Thanks for getting in touch with Finder.

      You might want to consider storing your money in a high-interest savings account.

      On that page, you will see a table that allows you to conveniently compare high-interest savings accounts. Click on the “Go to site” button when you finally found a product that fits your needs and preference. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    AlexanderNovember 30, 2017

    Please advise which Bank will open a Cash Management account with cheque book facility and pay interest on total balance on my self managed super fund account

      AvatarFinder
      HaroldNovember 30, 2017Finder

      Hi Alexander,

      Thank you for your inquiry.

      While we cannot recommend what is best for you, we can offer you a general information. As per checking you are already on the right page where you can compare the banks that offers Cash Management account. You can follow the process provided below to optimize your comparison procedure.

      I hope this information has helped.

      Cheers,
      Harold

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