Not For Distribution Ord Minnett Internal Use Only. QUICK GUIDE for the ACCELERATOR CASH ACCOUNT prepared for

Transcription

1 Not For Distribution Ord Minnett Internal Use Only QUICK GUIDE for the ACCELERATOR CASH ACCOUNT prepared for

2 Disclaimer This information is only for internal distribution to Ord Minnett staff authorised to work with the Accelerator Cash Account and Terms Deposit products for Australian residents. Accelerator Cash Account and Term Deposit are products of Commonwealth Bank of Australia ABN AFSL (CBA) and are administered by Australian Investment Exchange Limited ABN AFSL Fees and charges apply. Please consider the General Information Statement and full terms and conditions available on application. This information is not advice or an offer and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information, consider the appropriateness of the information, having regard to the individual s objectives, financial situation and needs and, if necessary, seek professional advice. We believe that the information herein is correct at the time of its compilation but we make no warranty as to the accuracy, reliability or completeness of that information. Except to the extent that liability cannot be excluded by law no liability for any loss or damage which may be suffered by any person, directly or indirectly, through relying upon any information or statement in this presentation is accepted by the Commonwealth Bank of Australia ABN or any of its directors, employees or agents, whether that loss or damage is caused by any fault or negligence on their part or otherwise. 2

3 TABLE OF CONTENTS 01 CBA Contact Sheet CBA ACA Origination CBA TD Origination Online Transactions Manual Transaction Features Client Online Experience. 21 3

4 01 CBA Contact Sheet Your first point of contact for any origination, enquiries and transactions are your dedicated Relationship Managers. Please note if either Giri or Arya is away, the other will be more than happy to assist. All origination forms are located at: commsecadviserservices.com.au/ordminnett Relationship Manager State Contact Details Giri Sathasivam NSW, ACT and South Australia Mobile: Direct Line: (Option 8 Option 3) giri.sathasivam@cba.com.au Arya Darmaputra Queensland and Victoria Mobile: Direct Line: (Option 8 Option 5) arya.darmaputra@cba.com.au We also have an experienced sales team that can go through our product offering with you face-to-face when required. Please do not hesitate to contact us to make an appointment. Business Development Staff State Contact Details Martyn Johnston National Sales Manager, Stockbroking Chris Hill Business Development Manager Lachlan Empson Business Development Manager Matt Zovi Business Development Manager Jason Sivyer State Manager Mauro Felipe Business Development Manager National Mobile: johnstm@cba.com.au Queensland Mobile: Direct Line: hillc@cba.com.au Victoria Mobile: Direct Line: lachlan.empson@cba.com.au South Australia Mobile: Direct Line: matthew.zovi@cba.com.au NSW (Ords Newcastle) Mobile: jason.sivyer@cba.com.au NSW, ACT Mobile: mauro.felipe@cba.com.au 4

5 02 CBA ACA Origination Guide #1: Please ensure you go to to ensure you get the latest version of the application form (including the Smart PDF Application), terms and conditions, and general information statement. Once your application is ready to be submitted please it along with any necessary documentation to: #2: Along with the application form the following documents need to be forwarded to the client : ACA Terms & Conditions General Information Statement Fees & Charges Electronic Banking T & Cs If the Ords adviser is not registered with CBA, they will need to complete the Adviser Registration Form, and submit this by to the RM along with a certified copy of ID and their Authorised Representative letter from Ords Compliance. #3: Please follow each section and question on the account application form. To guide you after each section there is a Where to from here? box that will point you to the section you will need to go to next. Please note that it is important to complete Section 6 if the adviser is to transact on behalf of the client online and manually. The smart PDF will give you the required sections that should be completed once you select the account(s) and type. 5

6 02 CBA ACA Origination #4: To help you further, there is an Application Guide on the last two pages of the application form that will confirm the sections of the application required for the respective account type. # 5: IDENTIFICATION FOR INDIVIDUAL/JOINT APPLICANTS. The most preferred form of identification for clients is for the Adviser to complete the Identification for Individuals and Trust Form (Section 7). 6

7 02 CBA ACA Origination #6: EXISTING CBA CLIENTS. For existing clients of CBA, we would not require any additional ID requirements if they have previously been identified. The client(s) must put down their existing BSB and Account Number under Section 2, and all the details on the ACA application must match their existing CBA profile. This includes: name, address, DOB, , and contact details. #7: Section 6 Authorised Representative and Authorised Adviser Authority to Operate. All Advisers who complete this section with the client will have transactional authority to the ACA. Note that Adviser Assistants can only have VIEW access if authorised by the Adviser with transactional authority. 7

8 02 CBA ACA Origination 2 CBA ACA Origination #8: OTHER FORMS OF ID Please see the end of the application form to view other forms of ID: 8

9 02 CBA ACA Origination #9: Once the application form is complete, please the completed form along with any necessary supporting documents and/or ID to Your Relationship Manager will confirm receipt of your form within 2 business hours. If you do not receive a confirmation within this time frame, please follow up with a phone call or to ensure that it has been received. When everything is in order, we will endeavour to open your account within 48 hours. Please understand that there may be periods where the time frame may be longer due to an influx of applications. If an account needs to be urgently opened, please let your Relationship Manager know. If we require more information your RM will notify you by . The Smart PDF Application will assist with the information that is required for the respective account types. Other advantages of the Smart PDF include less rework and the client + adviser only requires one signature each. #10: Once the ACA has been established the adviser will receive an confirmation with the bank account number masked (e.g.., BSB Account ****991). The Adviser will be able to view the full account details on the Adviser Portal login the following business day. As soon as you are able to view the Account details on the Adviser Portal please the full account number to the Ords New Accounts team to link this to the client s equities account. Should you require the banking details to organise fund transfers on the day you receive the confirmation, please contact your Relationship Manager. #11: The client will get a welcome letter or (if the client has provided a valid address). If the client has requested NetBank, they will also receive an with the NetBank Client number and an SMS(to their nominated mobile) with their temporary password. #12: Note that the ACA product is only available for Australian Residents, Australian Companies and Trust s that are established in Australia. 9

10 02 CBA ACA Origination Mandatory sections commonly missed 1. The Foreign Account Tax Compliance Act (FATCA) requires the respective questions in Section 2, Section 3 and Section 4 to be completed. (Each Applicant s details relating to countries of residence, tax residence and citizenship, there are five questions if the Company was not established in Australia, if the trust was established in Australia and are any trust applicant(s) Beneficiary(s) or Trustee(s) tax resident(s), citizen(s) or a resident(s) ofcountry(s) other than Australia). 2. Job /Company/Trust, industry, category and type (Section 2, Section 3 and Section 4) must be completed as per the classification list. 3. Is the Company operating as a charity? (Section 3) 4. Is the Company s primary business activity investing? (Section 3) 5. Beneficial Owner Details is mandatory for Proprietary/Private Companies. (Section 3) 6. Is the trust operating as charity and if so the type of charity. (Section 4) 7. Settlor of trust information is required for all trust types except SMSF and Testamentary trust. (Section 4) 8. Is the trust s primary business activity investing? (Section 4) 9. We require a signed acknowledgment letter from any trustees who do not wish to be authorities on the account for Trust with more than one Individuals as trustees. 10

11 03 CBA Term Deposit (TD) 1. Contact your Relationship Manager for a Term Deposit quote. Any quote we provide will be indicative and valid up to 3pm that day only. 2. To invest in a new TD, there must be available funds in the client s ACA. Once the client accepts the TD quote and has sufficient funds in the ACA, only the Adviser that has authority to operate the ACA can the Relationship Manager the following details ( Dealer Assistants can send the as long as the Adviser with the authority to operate is CC d.): Term Deposit Request Template ACA Number Account name Term (1 to 60 months) Investment amount ($) Interest rate (%) Interest payment frequency Interest payment Option (linked ACA or Compound to Term Deposit) Maturity Instructions (Full withdrawal into ACA or rollover) Paid at maturity only 3. To rollover a matured CommSec Adviser Services TD, Advisers who have authority to operate the ACA can the Relationship Manager with the rollover instructions up to 6 days from the date of maturity. 4. The Relationship Manager will send a confirmation back to the adviser confirming receipt of the instruction. 5. Please ensure that the Client receives the TD Terms and Conditions. 6. Note that clients may request withdrawal of all or part of funds deposited prior to the maturity date provided that they give the Bank 31 Days notice. 11

12 04 Online Transactions Loading Clients Step One: The Find Client page will give you the option to search, filter and sort your clients ACA and Term Deposits 12

13 04 Online Transactions Locating Clients Step Two: Clicking Select Action will give you the option to view your clients portfolio, see a summary of their transactions, and transfer funds online Live account balances 13

14 04 Online Transactions - Online Capabilities Initiate a Bpay or funds transfer for the client Initiate a recurring funds transfer requests online via the website Ability to Create, View, Amend and Cancel 14

15 04 Online Transactions - Online Capabilities To transfer funds online to a nominated account click Select Action then select Funds Transfer from the drop down menu box. Alternatively you can navigate to the Funds Transfer screen by clicking Administration located in the top menu bar and selecting Funds Transfers. 15

16 04 Online Transactions Scheduled Transfers You can create a one-off or regular funds transfer payment or a one-off Bpay payment Any transfers to a non-nominated account will require an SMS code to be entered in. Any transfers will initiate an to the nominated adviser and client address. You can schedule payments for clients weekly, fortnightly, monthly, and quarterly. 16

17 04 Online Transactions Scheduled Transfers To view the progress of your Scheduled Transfers go to the Scheduled Transfers Tab: Once submitted, requests are initially set to Pending, which means the instruction is being processed by our cash team Advisers can only Amend or Cancel the scheduled payment when the status is Active Only the Amount, Description and End Date can be changed 17

18 04 Online Transactions Categorising Transactions To assist clients with budgeting, etc. each transaction on the ACA can be categorised into different expense types. Click on My Clients and select the client you wish to view. Categorise your clients transactions and easily search for transactions by keyword, transaction type, amount, date range and category filters 18

19 04 Online Transactions - Reporting There are various reporting functions available for advisers as noted below: 19

20 05 Manual Transactions Advisers that have Authority to Operate can conduct online transactions on behalf of their clients within these limits: $30,000 daily per ACA $200,000 daily per adviser For amounts above these limits: Adviser (with the authority to operate) to complete and sign the fund transfer form before ing this to your Relationship Manager. The cut off for manual transfers is 3:00 pm daily. For large and/or irregular transactions, we may verbally confirm the transaction with the client over the phone. For all international transfers, we will require additional information and confirm the transaction with the client over the phone in addition to verifying the client s signed request. 20

21 06 Summary of Features The ACA is a full featured cash hub for investors, SMSFs and their advisers. Convenient access methods and simple fund transfers Interest calculated daily and paid monthly No monthly account keeping fees Competitive interest rate from dollar one* Assisted account opening. Easily transfer excess funds from ACA to Term Deposit Backed by CBA and protected under Australian Financial Claims Scheme (FCS) 1 * Please contact your RM for current interest rates 1 Entitlement to payment under the FCS will depend on your clients circumstances. 21

22 07 Client Online Experience Client Experience (NetBank) NetBank is a multi-award winning Client Banking site that offers: True real-time banking The ability to nickname accounts e.g. ORDS Cash The ability to hide accounts to avoid mistakes e.g. SMSFs State of the art Android/iPhone and tablet apps Snapshot of NetBank Snapshot of NetBank iphone App 22

23 07 Client Online Experience Nicknaming Accounts Once the client logs into NetBank, click on More then Organise Accounts Under Step 2, clients can Nickname the ACA account to whatever they wish, for instance ORDS CASH then click Save Changes 23

24 07 Client Online Experience Nicknaming Accounts The changes will be reflected when the client goes into their Home Page on NetBank 24

25 07 Client Online Experience Hiding Accounts (SMSFs) In particular, useful to prevent clients mistakenly transacting on SMSF accounts Once the client logs into NetBank, click on More then Hide Accounts Tick the accounts that the client wishes to hide, e.g. if their ACA was in a SMSF name, so they don t accidentally transfer funds in/out. 25

26 07 Client Online Experience Hiding Accounts (SMSFs) The account will no longer appear on the client s home page ORD