Trading and managing Wrap term deposits

Wrap term deposits can be held with Macquarie Bank, ANZ and NAB. These term deposit providers offer competitive interest rates over 1, 3, 6 and 12-month terms, with details available on the Adviser Online dashboard under ‘Interest rates’.

1. Log in to Adviser Online
2. Navigate to Interest rates on the dashboard
3. Select Wrap
4. Select Wrap term deposits.

You can access the Target Market Determinations (TMDs) for our term deposit providers below:

• Macquarie
• ANZ
• NAB

The minimum investment order limit for Wrap term deposits is $10,000.

Refer to Trading in Adviser Online.

Applications for Wrap term deposits close each business day at midnight with the investment being made the following business day. The timeline:

• Day 1: Order submitted and authorised by midnight (client receives today’s rate)
• Day 2: Cash debited from cash account, order sent for processing (this is the start date of the term deposit)
• Day 3 (Day 4 for super/pension accounts): Term deposit provider confirms order and applies Day 1 interest rate. Term deposit visible in online reports.

You can’t conduct in-specie asset transfers of term deposits between accounts. If you're conducting the following, your term deposit can be transferred:

• Product conversion (converting from a Series I to a Series II product, or between Series II products)

• Product switch (e.g. from super to pension account) only if the term deposit has more than 10 business days left before maturity.

You can view your client’s existing term deposit maturity elections in Adviser Online by following the instructions below:

1. Log in to Adviser Online
2. Click Clients on the menu under the Macquarie icon and select your client’s Wrap account 
3. Select Portfolio and Term deposit maturity elections is located under Administration.

You can update the maturity elections for Wrap term deposits until 9pm (Sydney time) one business day prior to the maturity date.

To change your client’s term deposit maturity elections in Adviser Online: 

1. Log in to Adviser Online
2. Select Clients, then Accounts
3. Search for and select your client's wrap account
4. Select Portfolio, then Administration
5. Under Investment settings, expand the Term deposit maturity elections accordion and select the Update term deposit maturity elections button. This will launch the Term deposit maturity elections wizard.
6. Select a new maturity election for the term deposit
7. Select Confirm to review the term deposit maturity election updates and disclaimers.
8. Select Submit.

Users must have Full transact authority to update term deposit maturity election details.

We send notifications of any upcoming wrap term deposit maturities each Friday within Adviser Online. You’ll be able to view any term deposits maturing in the next 2 weeks for any account you have access to.

Please note we no longer send email notifications.

Under ordinary circumstances, on maturity, the principal and/or interest is paid into the client’s cash account/hub on the day the funds are received from the issuer for investment accounts, and the following day for super and pension accounts. Where an election is made to rollover, an automatic application will be made into the next term deposit for the same term, from the same issuer and the amount specified^* (principal only or principal and interest). For investment accounts, the start date will generally be the next business day. For super and pension accounts, the start date will generally be two business days after maturity.

^{*Investment order limits apply.}

For investment accounts, the proceeds from the term deposit maturity are generally available on the afternoon of the business day after maturity. For super and pension accounts, the cash is generally available two days after maturity.

As term deposit applications are pooled and invested together, there is limited ability to obtain funds before maturity. You may request to break your term deposit, but you should be aware that this is subject to the term deposit provider’s approval and that fees, notice periods, and interest reductions may apply.

You can request to break a term deposit via Adviser Online. 

1. Log in to Adviser Online 
2. Search for the client’s account using the global search bar 
3. Select Portfolio 
4. Select Trading 
5. Select the action menu against the term deposit 
6. Select Break term deposit 
7. Select each term deposit to be broken 
8. Select Next 
9. Review details and declaration then select Submit.

Users must have Full transact authority to submit a term deposit break request.