The CIRCLE Alliance Bank Cash Fund Account is a cash management account that combines competitive interest-earning power with easy access to your funds. With tiered interest of up to 0.10% p.a. available on your account, your balance will continue to grow while invested in your account.
As of JULY 2018, this product is only available to existing customers. It is no longer available to new customers. For existing customers, variable interest rates still apply.
What are the features of the CIRCLE Alliance Bank Cash Fund Account?
Earn up to 0.10% p.a.
The CIRCLE Alliance Bank Cash Fund Account pays a competitive variable rate of up to 0.10% p.a. Interest is tiered depending on your account balance as follows:
|$2,000 to $9,999.99||0.10%|
|$10,000 to $24,999.99||0.15%|
|$25,000 to $49,999.99||0.20%|
|$50,000 to $99,999.99||0.40%|
Interest calculated daily.
Interest is calculated on your daily balance and then paid on the last day of each month.
100000 minimum investment.
You will need to invest at least 100000 in order to open a CIRCLE Alliance Bank Cash Fund Account.
100000 ongoing minimum balance requirement.
You must maintain a balance of at least 100000 at all times. If your balance falls below this level, your account will be closed and the remaining money transferred to an at-call savings account.
No maximum limit.
There is no upper limit on the amount you can invest in this account.
You can transfer funds into your CIRCLE Alliance Bank Cash Fund Account via Internet banking at any time.
24-hour withdrawal notice.
If you wish to withdraw any of the funds from your account, you will need to provide at least 24 hours’ written notice to the bank.
- No maximum limit.
- Internet and Phone banking.
- 100000 ongoing minimum balance requirement.
- 24-hour withdrawal notice.
What you’ll need to know before applying
If the CIRCLE Alliance Bank Cash Fund Account sounds like it has all the features you want in a cash management account, click on one of the “Find out more” links on this page. This link will take you to the CIRCLE Alliance Bank website where you can read the account terms and conditions, find a membership application form and download an account application form.
You can download the form you need to apply for a CIRCLE Alliance Bank Cash Fund Account from the bank’s website. You’ll need to provide the following info when filling out the form:
- Personal details. The first step is to provide your name and membership number.
- Tax File Number. You can provide your Tax File Number (or exemption) if you wish.
- Account details. You will need to provide details of how you would like to access your account. For example, do you require Internet banking access?
Before you can apply for an account, you will need to become a member of CIRCLE Alliance Bank. A membership application form is available for download from the bank’s website and you will need to pay a $2 membership fee.
The following information is required when completing a membership application:
- Personal information. This includes your name and date of birth.
- Contact information. You’ll need to provide your phone number, email address and postal address.
- Proof of ID. You will need to provide valid ID before your application can be approved. A current driver’s licence or passport will do the trick, but you can contact the bank for details of other acceptable forms of ID.
You must meet a couple of simple eligibility criteria in order to qualify for an account:
- Must be a member. You must be a member of CIRCLE Alliance Bank.
- Must deposit at least 100000 . You must invest at least 100000 and maintain your balance at this level or above at all times.
The CIRCLE Alliance Bank Cash Fund Account is worth considering if you’re looking to earn interest on your savings but want to enjoy easy access to your funds. Make sure to compare a range of cash management accounts before making a decision about which one best meets your requirements.