Transaction fees apply. [Centrelink recipient] The income on your cash-based investment will be deemed for Centrelink purposes. Cash investments are not capital guaranteed. Please refer to the Product Disclosure Statement for further information.
5.
Consolidate Cash
We recommend that you consolidate your cash accounts into a <Name of recommended account>. This will require you to redirect cash from other accounts as follows:
<Itemise each account that is to be transferred over or, the specific $ amount to be transferred. Eg, $X from your everyday bank account>. <Outline any cash account balances to be left behind and why>.
Benefits:
[Fee reduction] Streamlining your accounts will reduce fees by $X p.a. You will spend less time administering your various cash accounts. You will be better able to track your expenditure and savings with less accounts.
Points to Consider:
Transaction fees may apply. You will no longer have access to web-based transacting / cheque book facilities / account-linking / custom reporting. Investing in cash will potentially provide lower returns than growth investments such as shares and property. [Centrelink recipient] The income on your cash-based investment will be deemed for Centrelink purposes. Cash investments are not capital guaranteed. Please refer to the Product Disclosure Statement for further information.
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