Question
What is the difference between a "Macquarie Cash Management Account" and a "Macquarie Cash Management Accelerator Account"?
Answer
The "Macquarie Cash Management Account" is an at-call transaction hub for investments, while the "Macquarie Cash Management Accelerator Account" is a linked savings account designed to earn higher interest on idle cash.
The Macquarie Cash Management Accelerator Account offers better rates, but only allows transfers to/from the linked Macquarie Cash Management Account, not direct third-party payments.
Key differences
| Feature | Cash Management Account (CMA) | Cash Management Accelerator Account |
| Primary Purpose | Transactional hub (investments) | Higher-interest savings |
| Interest Rate | Lower (variable) | Higher (variable) |
| Transactions | Full transactions (BPAY, EFT) | Only to/from linked CMA |
| Account Linking | Must be linked to an Accelerator | Must be linked to a CMA |
| Fees & Minimums | No fees, no minimum balance | No fees, no minimum balance |
| Best For | Active trading/cash management | Storing cash for higher returns |
Macquarie Cash Management Account
- Purpose: The central "hub" for receiving investment revenue, funding share purchases, or managing daily cash flow.
- Flexibility: Full transactional capability (e.g. direct debits, payroll, BPAY, investments).
- Interest: earns a variable rate, usually lower then the Accelerator
Macquarie Cash Management Accelerator Account
- Purpose: A high-interest savings account meant for holding at-call cash reserves securely
- Interest: Offers a competitive, higher variable rate than the standard CMA.
- Operations: Funds can be moved in real - time between the Accelerator and the linked CMA on business days, but not directly to external parties.
- Eligibility: Often used by Self-Managed Super Funds and trusts.