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Are there any fees for Flexible Accounts? If so, how are they calculated?

There are no account opening and closing charges. However, we do charge a small annual fee to cover our costs of service — we call this the service fee.

This fee is paid for the investment service in money market funds that we provide to you, and is an ongoing charge calculated as a percentage of the value of the shares you hold in the money market fund. The service fee is calculated daily and automatically deducted from the daily interest you receive.

Fees for Flexible Accounts are calculated on a daily basis on balances held by you. This daily fee is deducted from the interest payments. You can see more details about the fees charged by tapping on the interest credited transaction on your Flexible Account.

Please refer to the MMF Ex-ante Costs & Charges Disclosure for a detailed breakdown of the service fee and any other charges associated with our services. You can find this document in-app by tapping 'Details' on the Flexible Account homepage.