This is for financial services professionals, such as financial advisers, stock brokers and accountants that access the Term Deposit Shop cash management platform on behalf of their clients.
Registration
You register to access the platform. The platform enables you to access rates from a broad range of banks all in one place. To enable you to use the platform we collect details about yourself, your firm and the AFSL you operate under. This information is used to create your own secure portal on the platform.
The portal enables you to see all your clients in one place and transact online. It also provides a myriad of reporting functionality. You can also nominate other people to have access to your portal, such as customer service and administration staff. We can also create a portal that provides access to all advisers and their clients within your firm, so that any person authorised to administer cash transactions on behalf of all advisers can do so via a single logon.
Adding Clients
To set a client up on the platform, the client enters into a once-off agreement that enables us to manage the investment process, and accept instructions from you, on their behalf.
This is done via an intuitive ‘onboarding’ process that enables you to easily and securely submit required information about your client, automatically generate and receive pre-populated ‘onboarding’ documents, and upload files, images and signed documents.
Having completed the onboarding process, you’re able to transact online anywhere, anytime at the click of a button via any device with no further paperwork. You can open multiple deposits with different banks and for different terms to optimise return and liquidity.
We handle all the administration to facilitate transactions, allowing you to take a far more proactive approach to managing cash.
You will also have online access to dynamic reporting via your own secure portal that will provide real-time portfolio and transaction listings, bank confirmations, interest earned, document management and more.
By completing the onboarding process for a client you are NOT obligated to transact. You’re the one making decisions. We are only providing you with information about rates being offered and facilitating transactions. We do not give advice.
Security
All deposits are in the name of the client.
All funds transfers are bank to bank in the name of the client.
All deposits are covered by the Government Guarantee.
The Term Deposit Shop holds an Australian Financial Services Licence (No. 344 582) regulated by the Australian Securities and Investments Commission (ASIC) and is required to hold Professional Indemnity Insurance to cover both civil and fraudulent actions.
