Forum Archive Index - December 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

Yes, ABN-AMRO  Graig has a cash management account.

 

You will earn interest on whatever, you have in there and they will automatically withdraw cash for any share dealings.( Or add to, whenever you sold something).

 

If you had say $A400 or whatever in the Australian Account and you bought say $A5000  worth of shares then they will pull the difference from your NZ account, assuming you had a large credit ( They convert NZ$ into $A at nearly wholesale rates)

 

If you want to withdraw some cash to be used by yourself, they will direct credit your home account. ( Better to make arrangements for that from the start as they want to know your Bank account and number.

 

Similarly, if you want to sent them more cash, just sent them a cheque ( There is also another way, I believe). 

There must be other brokers doing the same. They may well be operating $US and GB pounds accounts, as well.

 

( Before this, they used to operate UDC accounts, with somewhat less interest rates).

 

Suggest you contact one of them and get the details!

 

Gerry