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HOME SUPER CHOICE SUPERANNUATION SMSF FIND LOST SUPER FAQ PENSIONS FAQ ACTUARY FINANCIAL LITERACY INVESTMENT SECTORS INVESTMENT MODEL FINANCIAL PLANNING SHARE TRADING WHAT BANK ACCOUNT LIFE INSURANCE BOOKS & TOOLS PORTFOLIO SYSTEM ABOUT US WHY SUPEREASY SMSF BENEFITS SUPERMAIL SERVICES OVERVIEW FEES SMSF SET UP SMSF ADMIN SPECIAL OFFERS CONTACT |
What Bank Account? Major advantage of the technological era we live in, is the availability and accessibility of the information on the Internet. Long term agreements and unfavourable financial deals are no longer a problem with the Internet age, where every investor willing to learn and dedicate the time to research the market, is inevitably rewarded with the freedom of choice and the access to the quality services. One of the decisions the trustees starting a self managed superannuation fund will have to make, is what sort of a bank account to open for the fund. As a minimum, a bank account opened in the name of the self managed superannuation fund should support the following basic facilities:
A variety of bank accounts are available on the market and the trustee should shop around for the best deal available. The bank account should be considered more as one of the fund's investment, than just a facility, because it can influence the fund's overall performance based on the investment strategy. The right bank account can make a significant difference, saving or costing thousands of dollars, specially when considering the life span of such an account, usually running for twenty to thirty years. When it comes to selecting a bank account, there are some finer points you should consider when reading the terms and conditions of a bank account:
Trustees (investors) can also visit web sites specializing in comparing bank accounts from variety of financial institutions, such as banks, credit unions, building societies and others. One of the organisations providing this particular service, free of charge is "Flick your bank" www.flickyourbank.com.au "Flick your bank" is a service developed to help you compare the cost of running bank accounts. The website was developed by the The Australian Consumers' Association - CHOICE "Online" and "Money & Rights". The Australian Consumers' Association is a not-for-profit independent organisation, which provides useful, non-bias and up to date information about the financial products: "Confused by financial products on the market? Been burnt because you didn't know your rights? We'll guide you through the complicated money maze. Down-to-earth, practical and 100% independent, you'll get all the latest information on retirement planning, banking, investment scams, consumer rights and more." from the "Flick your bank" web site. Another independent and free of charge web site, concentrating on educating the investor is The National Information Centre on Retirement Investments (NICRI) www.nicri.org.au. The aim of the website is the provision of free, independent and confidential service, to improve the level and quality of investment information provided to people who are investing for retirement or facing redundancy. The web site provides a range of information leaflets covering a wide variety of investment products, financial planning and what is involved in selecting a financial planner, to more general information such as pensions, retirement income stream, allocated pensions, bond trust, cash management trust, equity trust, property trust, negative gearing, estate planning, rollovers, superannuation, self managed super and much more. We wish you happy research and financial competency and freedom! Clients of SuperEasy® enjoy a bonus 0.25% p.a interest on top of the current interest rate with ANZ V2 PLUS account. Click here to find out more. 
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SuperEasy Pty Ltd is not licensed to provide advice on investments, or legalities of the types of investments that you can have. SuperEasy® strongly recommends that you seek professional advice before making any investment choice or decision! |
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