The Cash Account from nabtrade is an essential part of your investing abilities. Through this account you are able to transfer your funds quickly into various investment products or a high interest savings account. You still earn a moderate interest rate even while you are waiting for your next big investment break.
NAB Cash Management High Interest Savings account is no longer available for new applications. The information provided and bank account cannot be applied for, however, the information on this page has been kept for the benefit of existing customers and for those who are interested.
If you would like to compare other bank accounts, please go through our comparison page.
What are the features of the NAB Cash Management?
When exploring various investment accounts, one of the more important components is the hub account, from which you make your transfers. Look closely at the features of these accounts to help you decide which online trading platform most suits your trading style:
- Minimum balance requirement. There is no minimum balance requirement for the nabtrade cash account.
- Transaction limit. There are no limits on the number of transactions you can make with your cash account.
- Monthly fees. You are not charged any monthly or ongoing fees for your cash account with nabtrade.
- Accessibility. You are able to make transfers into and out of this account online, with a mobile app or over the phone. This is done instantly from linked NAB accounts or with BPAY payments or fund transfers from accounts held with other banks.
- Security. Your deposits of up to $250,000 are guaranteed by the Australian Government.
- Interest rates. With this account your balance will earn a nominal and variable interest rate, which is tiered to pay you more with higher balances.
- Interest payments. Interest can be paid into your account, or you can nominate a separate account to have your payments made into.
- Mobile access. There is a mobile app available that allows you to access your nabtrade and cash account, however it is only available for iOS devices.
- Guaranteed by the Australian Government
- No ongoing fees
- No minimum balance requirements
- Only available for nabtrade customers
How do I apply for the NAB Cash Management?
The Cash Account is a part of your nabtrade account, allowing you to access investment options easily. When applying, you are going to first need to verify whether this is an individual account, joint, company or organisation, or an account for an SMSF, trust or minor. Keep in mind that you will also be getting a domestic and international trading account that will be linked to the cash account once opened.
Both residents and non-residents of Australia are able to apply, although if applying from overseas you may be subjected to a background check. If you are new to NAB you are going to want to have the following documentation on hand in order to make completing the application easier:
- Tax file number. There is no obligation to provide your tax file number (TFN) or exemption codes when applying for the cash account, although doing so will help in ensuring that withholding tax on any interest earnings is deducted at the correct rate.
- Identification. Your identity can be verified online by providing details from your driver's licence or passport.
Once you have submitted your details and the account has been established, you will need to transfer money into the cash account in order to begin making investments through nabtrade.