The Commsec Cash Management Account is now part of the Commonwealth Direct Investment Account (CDIA).
CommSec is one of the largest stockbrokers in Australia, offering a wide range of trading services for shares and derivative products.
CommSec's Commonwealth Direct Investment Account (CDIA) allows you to carry out unlimited electronic and trading operations with lower brokerage fees.
The Commonwealth Direct Investment Account (CDIA) is designed as a settlement account to allow easy share trading with a low per-trade brokerage fee, as well as functioning as an everyday transaction account, with an option of a debit MasterCard. Earn interest on your money between investments, so there is no need to move money from one account to another.
Interest is calculated daily and paid monthly, with no account keeping fees. You can use CommBank's ATM network and NetBank online banking. You can also enjoy unlimited electronic transactions and two assisted withdrawals each month.
To open a CommBank CDIA account, you will need a minimum opening balance of $10,000. There was a monthly fee of $5, though waivers applied to accounts opened on or before 31 Oct 2012 linked to a Commsec Trading account, or SMSF option.