The OneVue term-deposit hub is designed specifically for financial advisers to help remove the time-consuming administration associated with moving client funds between term-deposit providers and delivers rates from more than 20 major Australian banks, international banks, regional banks and credit unions.

It also minimises what ASIC identified as the significant risk of term-deposit investors rolling money over from a high interest rate to a low interest rate. Of $97 billion in term deposits placed during the period of ASIC’s investigation in 2010, 97% was originally placed into a rate special. A staggering 47% of this was then automatically rolled into a lower rate.  This loss is caused by banks offering rate specials but then markedly reducing the rate on offer when the deposit comes up for maturity.

When your clients’ term deposit matures, you are able to switch to a different institution and the funds are transferred automatically with same-day value. This ensures your clients receive the most competitive rate at each rollover without any loss of interest during the transfer.

The OneVue term-deposit hub provides a simple solution to this practice with a fully transactional website. From this page you can:

• Browse rates
• Rollover or redeem a maturing term deposit
• Reinvest a maturing term deposit with
• View a printable contract note for an existing term deposit.

This allows investors to obtain the most competitive rate available at each rollover. All fund movements are always bank to bank and remain in the name of the client.

Benefits to advisers and clients

• A choice of deposits with more than 20 providers,
• Transactional versatility on the web,
• Same day portability of funds between institutions,
• No transaction fees,
• No paperwork and automatic completion of all application forms and contract notes after the initial OneVue UMA platform account is opened,
• Wholesale rates from a large range of banks and financial institutions,
• Full client confidentiality,
• Advance notification of coming maturities,
• Full history of financial transactions at the end of the tax year,
• Reporting of income and portfolio movements and performance, and
• Accrued interest in the investor’s term deposit is reflected daily on the OneVue UMA platform.

The fully transactional term-deposit hub fits neatly in the OneVue UMA platform and accrues interest daily delivering an unmatched client experience.

To learn more 

• Email us
• Call us on 1300 790 235 between 8.30 am and 5.30 pm, Sydney time.

Disclaimer
The information in this document is general information only that has been prepared without taking into account any individual’s objectives, financial situation or needs. Before acting on this information you should read and consider the relevant offer documents available by contacting OneVue or downloading here.

The OneVue UMA Other Assets & Liabilities Service, SMA and Wrap Service are issued and operated by OneVue Limited ABN 18 072 262 312, AFSL 245525. The OneVue term deposit hub is provided by Australian Money Market Pty Ltd under the AFS licence of DDH Graham Limited ABN 28 010 638 219 AFSL 226319. OneStepSUPER is issued by CCSL Limited, ABN 51 104 967 964, AFSL 287084.