What is a cash account?
When you join Invest Direct, we issue you with a multi-currency interest-bearing cash account, free of charge. You can hold funds in multiple currencies, ready for easy investing and swift settlement. Funds are linked to your account and held in a pooled segregated trust account at ANZ bank.
Benefits of a cash account
Your Invest Direct multi-currency cash account is designed for easy investing and swift settlement of your trades. You can hold NZD and multi-currency balances on call, or transfer funds between currencies. This makes it easier to invest in offshore shares such as those listed on the ASX, NASDAQ, NYSE or LSE.
To take advantage of the best brokerage rates and for seamless settlement of your orders, we recommend that you pre-fund your cash account. You can do this by logging onto your online banking and making an electronic transfer of funds into your cash account. Our instructions for doing this can be reviewed under 'how to deposit and withdraw funds' tab.
You will earn interest on the balance held in your cash account, at an interest rate that reflects a margin deducted and retained by us from the rate of interest that is paid to Hatch. We publish the retail rate you will earn on your cash account balance here. There are no service or transaction fees, although a margin will be applied when you transfer funds between currencies.
Is my money protected?
Hatch holds customer monies in customer funds trust bank accounts, which may be held through third party providers, such as Jarden Securities Limited. Hatch administers monies belonging to customers in a fiduciary capacity and applies, and requires its third party custodians to apply, a high standard of custodianship and associated record keeping in accordance with NZ law and regulation.
Hatch is not a registered bank and is not regulated by the Reserve Bank.