Cash Management

Cash Management Account (S7)

This is a special purpose savings account. It must have a minimum balance of $5,000. Withdrawals must be a minimum of $500.00.

Features

Direct debit and periodical payments are not permitted from this account.

  1. A minimum balance of $5,000 is required.
  2. The minimum withdrawal is $500.
  3. This account type is operated by a passbook.
  4. Funds are fixed for 7 days and then are available at call.
  5. Funds may be accessed by:
    1. presentation of a passbook together with a written request signed by a registered signatory/signatories and delivered in person at one of our branches
    2. Central Murray PhoneAccess
    3. Central Murray NetAccess
  6. Interest is calculated on the daily balance and is credited to the account quarterly on March 31, June 30, September 30 and December 31 each year or when the account is closed.
  7. Interest rate can be varied at any time without notice.
  8. A tiered interest rate applies on this account type with the applicable interest rate for each month being determined on the daily balance for that account.
  9. There are no account keeping fees on this account type.
  10. The account will be closed if any proposed withdrawal would reduce the balance of the account to less than the minimum balance. The authorised withdrawal will be paid and the balance of the account transferred to the member's S8 Everyday access account.

To find out more, view our current Interest Rates or Rewards Fees & Charges
or Disclosure Statements or contact one of our branches.