What is a cash management account?

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A cash management account is an account held with a financial institution that allows you to manage your cash transactions through one portal.

Think of it as an umbrella or main cash hub under which all of your investments flow in and out.

A cash management account can help you track the movement of your money and allows you to see your (cash) financial position at any moment. In other words, it enables you to monitor your cash flow.

A benefit of a cash management account is having a consolidated view and visibility of all cash movements.

Monitor what's happening with your money

This means you can buy and sell shares with the same account as you use to make your mortgage repayments, instead of having to keep separate accounts for each banking function.

Structuring your finances around a cash management account saves you time as you don't need to transfer funds between accounts and it also means that it's easier to monitor what's happening with your money.

Another great feature you may find in a cash management account is that they generally offer a competitive interest rate, calculated daily and paid monthly.

Top tip

If you have multiple investment accounts, you could consider bundling them under one cash management account to streamline your finances.

This means you won't have to spend time tracking each individual account to calculate your overall financial position. You can be more efficient with your funds, having all your income streams land in one account so you don't need to scramble around to find out which account has cash every time a bill falls due.

Use the increased visibility of a cash management account to help you understand your cash flow position so you can implement a strategy that will help you reach your financial goals – even if it's to spend less time fretting over the budget and spending more time with your family.

Macquarie has a market leading cash management account that helps you orchestrate your cash flow with high visibility and control.

Learn more about the Macquarie Cash Management Account – voted number one, for the second year running, by the SMSF Adviser Awards.

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SMSF Adviser Award winner – two years running

Best Cash and Term Deposit Accounts 2017

Our cash and term deposit accounts were voted number one, for the second year running, by the SMSF Adviser Awards.

More than 30 per cent of Australian SMSFs and over half a million clients manage their investment cash flow with confidence through our Macquarie Cash Management Account (CMA)*.

Macquarie Bank Limited ABN 46 008 583 542 AFSL & Australian Credit Licence 237502 (MBL). This information does not take into account your objectives, financial situation or needs. Before making any financial investment decision or a decision about whether to acquire any product mentioned on this page, a person should obtain and review the terms and conditions relating to that product and also seek independent financial, legal and taxation advice.