Cashwerkz offers term deposit accounts and other cash investments for a range of investors:

• Direct Investors – Individual and Joint Accounts
• Self-Managed Super Funds
• Financial Planners and their clients
• Trusts
• Companies and Government organisations

For other account types, please contact our support team.

Once you place your order online, Cashwerkz will send your selected term deposit provider notification containing the terms of the investment, the application to open an account in your name and instructions for deposit of the funds.

Depending on the term deposit provider and your instructions, the term deposit provider will either direct debit the funds from your nominated account or provide you with the direct deposit details.

If your funds are direct debited, this process can take up to seven (7) business days to complete.

Cashwerkz does not hold or have access to your funds at any time.

Depending on your selected term deposit provider, they will either debit your funds direct from your nominated bank account or require you to make an electronic funds transfer (EFT).

For EFT, Cashwerkz will provide you with the relevant payment instructions on confirmation of your initial order.

Cashwerkz do not hold or have access to your funds at any time.

At the commencement of your investment, funds are transferred directly from your nominated account to your selected financial institution.

Upon maturity and as required in accordance with your instructions, redeemed funds are transferred directly to your nominated account by the financial institution who hold your term deposit.

Every term deposit or investment you open is always made in the name of the investor (eg individual, SMSF or Company) and owned by that entity.

Cashwerkz will hold a copy of your investment confirmation once the term deposit has been processed by your selected financial institution. This will be available for you to download online via your Cashwerkz dashboard. A copy of the particular Product Disclosure Statement relating to your investment will also be available. This is usually within three days.

Your selected term deposit provider may also send a confirmation, however, this may take up to two (2) weeks.

If the interest rate for your selected term deposit increases while your instructions are processing, the new rate will apply.

If the interest rate decreases we will hold your order and notify you by phone and email. If we do not receive a revised instruction within 24 hours your order will be processed at the revised rate.

You cannot deposit additional funds into a Personal or Business Term Deposit during the term.

However, you are able to add additional funds if you decide to roll over your Term Deposit for another term.

You can nominate this additional amount in your maturity instructions and the amount will be direct debited by the bank from your nominated linked bank account or deposited by yourself via EFT.

The maturity instructions provided when you place your initial instructions online will be applied.

Cashwerkz will send you an email 7 days prior and 1 day prior to the maturity date of your term deposit.

You can update your maturity instructions via your online Cashwerkz account. Please provide instructions at least two business days prior to maturity to allow time to process your request.

To break a Term Deposit, notice is required in writing.

The interest rate applied is the same as the commencement rate for the time invested, less any early termination/ break fees charged by the financial institution. Any fees payable will vary depending on the financial institution – you should refer to the particular Product Disclosure Statement (PDS) relating to your investment. All charges incurred will be confirmed with you prior to processing.

There is also a minimum time period for you to notify the financial institution if you wish to break your term deposit early. This is also disclosed in the particular PDS relating to your investment.

Please contact our support team if you have any queries.

Cashwerkz enables you to easily reinvest and switch between financial institutions by providing you with a range of options via our term deposit marketplace, allowing you to manage your investment.

• If you reinvest with the same financial institution (rollover) you may vary the term. You may also specify the reinvestment amount up to the maturing value of the current term deposit. Any redeemed funds will be repaid to the linked bank account.
• A switch instruction will redeem the existing holding with funds normally settled on the day of maturity. To ensure funds are available for the new investment the funds transfer typically follows the process for a new term deposit instruction.

Cashwerkz is currently working with a number of Finance and Accounting platforms to establish Data Feeds.

As these services are developed and rolled out we will be regularly updating this page to provide information on:

• Which partners we provide Data Feeds to
• How to setup Data Feeds
• Forms that may be required in obtaining authority to provide the feed

Cashwerkz Support is available to assist with any questions or queries by phone, email or chat:

Monday- Friday 8:00am – 6:00pm

(Excluding National and NSW Public Holidays)

Remember, you can visit our website to register, transact and manage your investments – Anytime and Anywhere 

Cashwerkz was established in 2014 as an online marketplace enabling you to search, invest and manage your term deposits and cash management accounts.

Cashwerkz operates under AFSL Licence No. 459645 to provide information on products offered by participating providers. Cashwerkz then automates your ability to research and invest in these products.

You pay zero fees.

Product issuers may pay Cashwerkz a fee directly. This does not affect the price or yield quoted to you.

Cashwerkz is an online marketplace and investment management platform with no affiliations with third party institutions.

We only have relationships with our clients and contracted product providers.

Cashwerkz interest rates may vary to those displayed on the financial institutions’ website’s as per the contracted relationship we have with each to distribute online investment rates.

Every term deposit or investment is always made in your name, owned by you and held by the financial institution you have chosen.

Cashwerkz is simply the facilitator to assist you with the application process and the ongoing management of your investment. Your term deposit cannot be transferred to anyone else.

In Australia, term deposits available through Cashwerkz may be protected under the Government’s Bank Deposit Guarantee, also commonly referred to as the Financial Claims Scheme (FCS). You should refer to the relevant Product Disclosure Statement for more information regarding the FCS.

The Australian Government guarantees deposits up to a cap of $250,000 per account-holder per Financial Institution.

Information about the Financial Claims Scheme can be obtained from the APRA website at www.apra.gov.au or by calling the APRA hotline on 1300 558 849.

A certified copy is a copy of an original document such as a driver’s licence that has been authorised (or stamped) by an authorised witness as being a true copy of an original.

Here is a list of authorised witnesses that are generally accepted by Cashwerkz and the banks we deal with:

• Legal Practitioner
• Agent of Australian Postal Corporation
• Permanent Employee of Australian Postal Corporation
• Bank Officer
• Chief executive officer of a Commonwealth Court
• A finance company officer
• A judge of Court
• A Justice of Peace
• A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership
• Notary Public
• Police Officer
• Registrar or Deputy Registrar of Court
• An Australian consular officer or an Australian diplomatic officer
• An officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more years of continuous service with one or more licensees

Politically exposed persons (PEPs) are individuals who occupy a prominent public position or function in a government body or international organisation, both within and outside Australia, including:

• Head of State or head of a country or government;
• Government minister or equivalent senior politician;
• Senior government official;
• Judge of the High Court of Australia, the Federal Court of Australia or a Supreme Court of a State or Territory, or a Judge of a court of equivalent seniority in a foreign country or international organisation;
• Governor of a central bank or any other position that has comparable influence to the Governor of the Reserve Bank of Australia;
• Senior foreign representative, ambassador, or high commissioner;
• High-ranking member of the armed forces; or
• Board chair, chief executive, or chief financial officer of, or any other position that has comparable influence in, any State enterprise or international organisation.

This definition also extends to their immediate family members and close associates, including:

• A spouse;
• A de facto partner;
• A child and a child’s spouse or de facto partner;
• A parent; and
• An individual who is a close associate of a person referred to above, which means any individual who is known (having regard to information that is public or readily available) to have:
  • Joint beneficial ownership of a legal entity or legal arrangement with a person referred to above; or
  • Sole beneficial ownership of a legal entity or legal arrangement that is known to exist for the benefit of a person described above.