An ANZ cash trading account will be created for you as part of the application process and is used to facilitate the settlement of your trades.
SelfWealth holds your cash balance on your behalf in a trust account with “Australia and New
Zealand Banking Group Limited (ANZ). The Trust account is held in the name of SelfWealth (in trust) as bare trustee for you.
SelfWealth is not entitled to withdraw any amounts from your cash balance in the trust account, except in accordance with a direction from you.
Each SelfWealth cash account is reported individually The Australian Prudential Regulation Authority (APRA) by ANZ.
The trust account is governed by ASIC and cannot be used for corporate purposes by SelfWealth or other parties.