Your Direct Investment Account is automatically opened when you complete and return your application form. You will receive your Bpay details and Direct Investment Account details via email once your Direct Investment Account set up has been completed. Alternatively, you can access your Direct Investment Account details on My Account page on Desktop Broker's website.
The Direct Investment Account is a Account management facility. For more information please read the Direct Investment Account prospectus here.
At this point in time the only Account management facility we authorise for use at Desktop Broker is the Direct Investment Account.
You can deposit funds electronically in either of these ways:
The timing of your funds deposit reaching your Direct Investment Account is dependent on your respective bank's processing time. If your deposit instruction was completed before your bank's cut off time, your funds will normally be in the Direct Investment Account the next business day.
You are advised to check with your bank on the cut off time for transferring funds out via electronic transfer and BPay.
Our cut off time for processing funds withdrawal is at 12:30pm on business days only. If your withdrawal instruction was performed before 12:30pm on a business day, your withdrawal will be processed on the same day.
If your withdrawal instruction was performed after 12:30pm on a business day or on a non-business day, your instruction will only be processed at 12:30pm on the next business day.
Simply complete an online fund transfer request.
Please note that Desktop Broker does not "lock" or "hold" funds for a particular funds transfer request. This allows you greater flexibility in your intraday trading and the ability to nominate a transfer amount in excess of your current available funds in anticipation of trades settling on future dates.
At the time of processing, we will calculate your available transfer balance and send the maximum amount possible up to the amount requested. Please note that if your available transfer balance has reduced subsequent to your intial request, the amount transferred will be reduced accordingly. Your available transfer balance takes into account your cash balance and any buys pending settlement and open buy orders you have at the time of processing your transfer request.
You are able to submit a funds tranfer request online at anytime. It should be noted that if you wish to have a funds transfer processed on the same day that you will need to submit your request prior to 12:30 AEST.
You can view your current cash balance on the Portfolio & Reporting page.
You'll find a detailed summary of debits and credits on your Direct Investment Account on the Portfolio & Reporting page.
There are no fees or charges on the Direct Investment Account.
No, you will eligible to earn our very competitive interest rate on any funds deposited in your account.
Interest is calculated on a daily basis and paid monthly on the last day of the month.
No. Clients who close their Desktop Broker account will also be closing their Direct Investment Account.
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