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3.2. Cash Plus Introductory Offer for New Clients
3.3. Cash Plus Introductory Offer for Existing Clients
4. Income distribution and tax implications
The "Cash Plus" program is a cash management program offered by Futu Securities (Australia) Ltd trading as Moomoo AU (hereinafter "Moomoo AU", the "Promotor", "we", "our" or "us"), ABN 51 095 920 648, AFSL 224663. Cash Plus aims at enabling Moomoo AU clients to access competitive at-call interests on their uninvested cash balance held in their Moomoo AU securities accounts ("Moomoo AU Account").
Moomoo AU is not a bank and the Cash Plus program is not a bank deposit.
Clients who wish to participate in the Cash Plus program must first provide their standing instructions and consent to the Investment of Client Money Agreement relating to the USD cash management arrangements. This can be completed by clicking on the "Enrol Now" button on the Cash Plus information webpage and following the prompts to read and complete the consent form (hereafter referred to as "Enrol" or "Enrolment").
The Cash Plus program is available to Moomoo AU clients' uninvested cash balances in AUD and USD. It is not available to cash balances in HKD or other currencies.
Moomoo AU pays a variable interest that is currently 3.75% p.a. (the "Base Rate") on uninvested AUD and USD cash balances participating in the Cash Plus program under clients' instructions. This interest is accrued daily but paid monthly. The Base Rate may be subject to change without prior written notice. Please refer to the current Uninvested Cash Interest Rates published on our website https://www.moomoo.com/au/support/topic6_479 for up-to-date interest rates.
The "Cash Plus Introductory Offer" is a promotional offer (the "Campaign") provided by Moomoo AU, under which New Clients (as defined under Section 3 of this Terms and Conditions) may be eligible for an increased interest rate of 6.8% p.a. (the "Introductory Rate") for a period of 180 calendar days in substitution for the Base Rate, however, only applicable to uninvested cash balance of up to AUD $100,000 or equivalent. Uninvested cash balances in excess of this amount during the 180-day period and all uninvested cash balances outside of the 180-day period will accrue interest at Base Rate.
Subject to Section 3.2 of these Terms and Conditions, existing Moomoo AU clients who are not New Clients as defined in Section 3.1 may still be eligible for the Campaign and associated Introductory Rate, but only for a period of up to 60 calendar days.
The Campaign is valid from 00:01AM AET on 5 December 2023 to 23:59PM AET on 22 January 2024 ("Campaign Period")
No commissions and platform fees will be charged on trades during the first 180 days following the date your Account is opened. Other pass-through fees, including but not limited to U.S settlement agency fees, SEC fees, and FINRA trading activity fees, may still apply depending on the financial products traded.
A. Commission-Free Offer will be automatically activated upon the date of Account opening with no further action required, and will be valid for 180 calendar days from when it is activated ("Validity Period").
B. Platform Fees Waiver Offer will be automatically activated upon the date of successful Account opening with no further actions required, and will be valid within the Validity Period. The platform fees will still be charged as normal during the course of trading, but reimbursed on every 15th of the following month. The GST payable to the Australian Taxation Office in connection to the platform fees will not be reimbursed.
Refer to our Financial Services Guide for our detailed pricing information;
Eligibility:
1. Clients who are new to Moomoo AU and successfully open a Moomoo AU account during the Campaign Period
2. Clients with an existing Moomoo AU account but never made a deposit prior to the Campaign Period
(collectively referred to as "New Clients")
Note: existing clients who open additional new accounts during the Campaign Period are not eligible.
How to Enrol:
New Clients who successfully register as a user the Moomoo AU Application (the "App") will receive one share of NYSE:AMC. The gift share can only be claimed and when such New Client successfully opens a Moomoo AU trading account within the App.
New Clients who successfully open a Moomoo AU Account and complete Enrolment in the Cash Plus program by clicking on the "Enrol Now" button on the Cash Plus information webpage and following the prompts to read and complete the consent form are eligible to receive 6.8% p.a. Introductory Rate in substitution for the Base Rate, for a period of 180 calendar days, however only applicable to uninvested cash balance of up to AUD $100,000 or equivalent. Uninvested cash balances in excess of this amount during the 180-day period and all uninvested cash balances outside of the 180-day period will accrue interest at Base Rate.
Base Rate: variable rate currently 3.75% p.a.
Introductory Rate: fixed rate of 6.8% p.a. for a period of 180 calendar days. Assuming daily uninvested cash balance is maintained at exactly AUD $100,000, the maximum interest paid during the 180-day period is AUD $3,353.
Clarifications regarding the maximum uninvested cash balance applicable to Introductory Rate:
For avoidance of doubt, the maximum cash balance of AUD$100,000 (or equivalent) is applicable to the combined total cash balance in AUD and USD. For ease of calculation, a fixed FX reference rate of 1 AUD = 0.65 USD is used in calculating the AUD equivalent of USD cash balance. Where a client has uninvested cash balances in both currencies with a combined total amount larger than AUD$100,000, the AUD cash balance will have priority to be accounted in the maximum cash balance applicable to Introductory Rate.
Example 1: If the customer holds cash assets of AUD 150,000 and cash assets of USD 50,000, the interest of AUD 100,000 will be calculated at 6.8%, and the remaining cash assets of AUD 50,000 and USD 50,000 will be calculated at a basic interest rate of 3.75%p.a.
Example 2: If the customer holds cash assets of AUD 35,000 and cash assets of USD 50,000, the interest on the AUD 35,000 assets is calculated at 6.8%, and USD 42,250 is converted into the equivalent of AUD 65,000 at a fixed exchange rate of 0.65, calculated at 6.8% Interest, the remaining US$7,750 is calculated at a basic interest rate of 3.75%p.a.
Example 3: When a customer holds cash assets of AUD 20,000 and cash assets of USD 10,000 today, the interest on cash assets in both currencies is calculated at 6.8%; when the user deposits AUD 80,000 on the second day, then cash assets of AUD 100,000 are calculated at 6.8%. The interest on assets is calculated at 6.8%, and the cash assets of US$10,000 are calculated at a basic interest rate of 3.75%p.a.
Available Currencies: Australian Dollar (AUD) and US Dollar (USD)
Fixed FX Reference Rate: 1 AUD = 0.65 USD
Daily interest accrual cut-off period:
Funds deposited during the 24 hours from AET 12:00 on T-1 to AET 12:00 on T day will be included in the uninvested cash balance calculation on T-1 day. Funds deposited after AET 12:00 on T day will be included in the uninvested cash balance calculations on T day. Where a Client with existing uninvested cash balance in their Moomoo AU Account completes Enrolment in the Cash Plus program, the Client's uninvested balance will begin accruing interest on the same day if the Enrolment is completed by 11:59AM AET on that day (T+0). If Enrolment is completed on or after mid-day (12:00PM AET), the Client's uninvested balance will begin accruing interest on the next day (T+1).
Daily income calculation formula: Daily Interest = Uninvested cash balance (up to AUD $100,000) * 6.8%/365
Additional notes:
1. For purpose of the Cash Plus program, "uninvested cash balance" is defined as the funds immediately available for withdrawal recorded at 12:00 AET daily cut-off times for interest accrual. On the daily and monthly account statements delivered to clients, this figure is displayed as "Ending Settled Cash" under the Cash section.
2. If the uninvested cash balance returns to zero during the interest accrual period due to reasons such as settlement of trades and/or withdrawal of funds, interest accrual will also stop from the same day (T+0).
3. The following actions (including but without limitation) will reduce uninvested cash balance in the account:
a. Having in-market pending orders, which freezes part of the cash balance equivalent to consideration of the orders;
b. Having executed orders on T day for settlement on T+2, which removes part of the cash balance equivalent to consideration of the orders on T day for ahead of settlement;
c. Confirming participation in corporate actions which will result in payment of cash;
d. Submitting a funds withdrawal request prior to the daily cut-off time;
e. Any other actions and/or items which result in debiting of cash balance, including deductions of fees and charges.
4. Moomoo AU is required by law to obtain clients' agreement and instructions before investing or handling client money to earn interests. If a New Client completes account opening and deposits but fails to complete the Enrolment process through the Cash Plus information webpage, Moomoo will not have the proper authorisation in place to handle the New Client's funds accordingly to earn interest. In such scenario, the accrual of daily interest will NOT commence until the New Client completes the Enrolment process;
5. Where a Client completes Enrolment in the Cash Plus program for the first time, if the Enrolment is completed by 11:59AM AET, the interests start to accured on the date of Enrolment(T+0) and you can see such interest earnings within Moomoo App on the next day of the Enrolment; If Enrolment is completed on or after mid-day (12:00PM AET), you can start to accured on the next day of Enrolment (T+1), and you can see the previous' day 's earning within Moomoo APP on the third day of the Enrolment.
Eligibility:
Clients with an existing Moomoo AU account and had made their deposit prior to the Campaign Period (referred to as "Existing Client/s")
How to participate:
Existing Clients can participate by qualifying either or both of the requirements as described in paragraphs 3.2.1 and 3.2.2., each will reward an Existing Client 30 days of increased Introductory Rate in substitution for the Base Rates, totalling 60 days.
3.3.1 Offer 1: Deposit Bonus Promotion
Existing Clients who transfer a net deposit of 3,000 Australian dollars or more after completing the Enrolment through the Cash Plus activity webpage will be entitled to 30 days of Introductory Rate on their daily uninvested cash balance, applicable only to uninvested cash balance of up to 100,000 AUD or equivalent. Uninvested cash balances in excess of this amount during the 30-day period and all uninvested cash balances outside of the 30-day period will accrue interest at Base Rate.
For example: If an Existing Client withdraws 1,000 AUD after entering the page, he/she will need to deposit 4,000 AUD to bring his/her net deposit up to 3,000 AUD. If the net deposit amount during the Campaign Period is greater than or equal to 3,000 Australian dollars, he can enjoy a 30-day 6.8% cash return; if an Existing Client withdraws or deposits money before entering the page, this part of the deposits will not be included for calculation of net deposits.
3.3.2 Offer 2: Refer-a-friend Promotion
Existing Clients who invite one friend (who has never signed up for an existing Moomoo AU Account) to sign up and make a successful deposit of any amount will be entitled to 30 days of Introductory Rate on their daily uninvested cash balance, applicable only to uninvested cash balance of up to 100,000 AUD or equivalent. Uninvested cash balances in excess of this amount during the 30-day period and all uninvested cash balances outside of the 30-day period will accrue interest at Base Rate.
Each Existing Client participating in this offer can only invite up to one (1) friend.
Base Rate: variable rate currently 3.75% p.a.
Introductory Rate for Existing Clients (by particpating in both the Deposit Bonus Promotion and Refer-a-friend Promotion): fixed rate of 6.8% p.a. for a period of up to 60 calendar days. Assuming daily uninvested cash balance is maintained at exactly AUD $100,000, the maximum interest paid during the 60-day period is AUD $1,117.
Available Currencies: Australian Dollar (AUD) and US Dollar (USD)
Fixed FX Reference Rate: 1 AUD = 0.65 USD
Daily interest accrual cut-off period: Funds deposited during the 24 hours from AET 12:00 on T-1 to AET 12:00 on T day will be included in the uninvested cash balance calculation on T-1 day. Funds deposited after AET 12:00 on T day will be included in the uninvested cash balance calculations on T day. Where a Client with existing uninvested cash balance in their Moomoo AU Account completes Enrolment in the Cash Plus program, the Client's uninvested balance will begin accruing interest on the same day if the Enrolment is completed by 11:59AM AET on that day (T+0). If Enrolment is completed on or after mid-day (12:00PM AET), the Client's uninvested balance will begin accruing interest on the next day (T+1).
Daily income calculation formula: Daily Interest = Uninvested cash balance (up to AUD $100,000) * 6.8%/365
Additional notes：
1. For purpose of the Cash Plus program, "uninvested cash balance" is defined as the funds immediately available for withdrawal recorded at 12:00 AET daily cut-off times for interest accrual. On the daily and monthly account statements delivered to clients, this figure is displayed as "Ending Settled Cash" under the Cash section.
2. If the uninvested cash balance returns to zero during the interest accrual period due to reasons such as settlement of trades and/or withdrawal of funds, interest accrual will also stop from the same day (T+0).
3. The following actions (including but without limitation) will reduce uninvested cash balance in the account:
a. Having in-market pending orders, which freezes part of the cash balance equivalent to consideration of the orders;
b. Having executed orders on T day for settlement on T+2, which removes part of the cash balance equivalent to consideration of the orders on T day for ahead of settlement;
c. Confirming participation in corporate actions which will result in payment of cash;
d. Submitting a funds withdrawal request prior to the daily cut-off time;
e. Any other actions and/or items which result in debiting of cash balance, including deductions of fees and charges.
4. Moomoo AU is required by law to obtain clients' agreement and instructions before investing or handling client money to earn interests. If a New Client completes account opening and deposits but fails to complete the Enrolment process through the Cash Plus information webpage, Moomoo will not have the proper authorisation in place to handle the New Client's funds accordingly to earn interest. In such scenario, the accrual of daily interest will NOT commence until the New Client completes the Enrolment process;
5. Where a Client completes Enrolment in the Cash Plus program for the first time, if the Enrolment is completed by 11:59AM AET, the interests start to accured on the date of Enrolment(T+0) and you can see such interest earnings within Moomoo App on the next day of the Enrolment; If Enrolment is completed on or after mid-day (12:00PM AET), you can start to accured on the next day of Enrolment (T+1), and you can see the previous' day 's earning within Moomoo APP on the third day of the Enrolment.
Income display: Participating New Clients and Existing Clients can find [Cash Balance], [Total Income], [Yesterday’s Income], and Accrued interest this month] on the activity page, after completing the Enrolment process through the Cash Plus acticity page.
Distribution rules: The interest distribution for the previous calendar month shall be completed within 7 working days at the beginning of each calendar month.
Tax consequences: Interest distributed in the Promotion and the Cash Plus program are taxable income which may attract tax consequences. This is dependent on each client's personal circumstances and clients should seek advice from a tax professional if necessary. There may be other applicable taxes to consider. Clients are fully responsible for any tax liabilities, if any, that may arise from interests distributed into their accounts.
Withholding tax: Clients who have not provided their TFN to Moomoo AU may be subject to 47% tax withholding on the interests when they are paid. The amount we withhold will be paid to the Australian Taxation Office. To declare your TFN to Moomoo AU and the ATO, simply navigate to "Accounts" tab - "More" - "Account Profile" and "Modify" under the "Tax Information" section at the bottom.
1. What is Cash Plus？
Cash Plus is a cash management program offered by Moomoo AU to Australian clients. Moomoo AU holds client funds in designated client trust accounts held at Commonwealth Bank Australia and HSBC Bank Australia, which are fully segregated from Moomoo AU's own funds. Moomoo AU passes part or all of the interests earned on uninvested client funds on to its clients.
2. How can the Cash Plus Introductory Offer interest rate (6.8%p.a.) be higher than most bank deposits?
To reward our clients for their ongoing support and to attract new clients to experience our products and services, we subsidise part of the 6.8%p.a.* introductory rate paid on uninvested cash balances for eligible new clients participating in the cash management program for a limited period of 180 days (appliocable only to uninvested balance of up to AU$100,000 per client; see the T&Cs for full details). All uninvested cash balances outside of the 180-day period will continue to earn a standard variable rate of 3.75%. Moomoo is a fully-owned subsidiary of NASDAQ-listed Futu Holdings (NASDAQ:FUTU), whose financial records are fully transparent and publicly available. We are licensed and regulated in Australia (AFSL 224663) as well as other major markets including US, Hong Kong, Singapore, Japan and Canada, and are leading retail securities broker-dealers in Hong Kong and Singapore (by market share). We have robust internal systems and processes in place to ensure client funds security.
3. How do I receive Cash Plus earnings?
The income earned from the Cash Plus program is accrued daily and will generally be paid to your account at the beginning of next month. Refer to this page to keep track of your total Cash Plus earnings.
4. Will it affect my buying power?
No. Your buying power is unaffected when participating in the Cash Plus program. The cash balance swept to the bank/s will still be considered as part of your account's buying power.
5. How is Cash Plus' accumulated interest calculated? Where can I find my accumulated interest?
Moomoo's Cash Plus deposited from AET 12:00 on T-1 to AET 12:00 on T day will be included in the asset interest on T-1 day, and after AET 20:00, they will be included in the asset interest on T day. The cash balance is the cash withdrawable amount. Any cash held under pending orders and unsettled orders is not entitled to interest. Funds deposited into your trading account after AET 12pm will be calculated from the next day onwards. You can see your accumulated interest on the landing page. Please book mark this as this is updated dynamically every day (Updated daily after 22:00 Australian Eastern Time). You will also be able to check your accumulated interest when we distribute interest to you at the end of the month. Interest is calculated daily and distributed monthly to your trading account as a cash.
1. The 6.8% Cash Plus Introductory Offer Promotion (the "Promotion") is available to both new customers and existing customers who hold an account with Moomoo AU (collectively as "Clients") pursuant to these Terms and Conditions. It is not available, and not advertised to the general public.
2. This Promotion are provided by Futu Securities (Australia) Ltd. (hereinafter referred to as "Moomoo AU"), a wholly-owned subsidiary of Futu Holdings Limited. In Australia, investment products available on moomoo are offered by Moomoo AU which is regulated by the Australian Securities and Investments Commission（ASIC）. The moomoo App is a trading platform offered by Moomoo Inc., a wholly-owned subsidiary of Futu Holdings Limited.
3. Investing and/or trading in securities markets carry risks and may not be suitable for all investors. Clients willing to participate in this Promotion must read and understand the Financial Services Guide, Risk Disclosure Statements and other disclosure documents which are available on the website (www.moomoo.com/au)before making any investment decisions.
4. Clients on each participant's personal circumstance and participants should seek advice from a tax professional. There may be other applicable taxes to consider. Clients are responsible for any tax consequences, if any, that may result from their participant of this Promotion.
5. Moomoo AU strictly prohibits any existing customer from sharing, selling or otherwise promoting their referral link(s) on public domains, including social media platforms that are open for public viewing. Existing customers are reminded that such actions are likely a violation of relevant Australian financial services laws and regulations, which may attract legal consequences. Moomoo reserves the rights to take further actions against the relevant existing customers and/or new customers invited by such existing customers should any such activities are identified, including but not limited to:
• Termination or suspension of the Moomoo AU Accounts held by relevant existing customers and/or new customers invited by such existing customers ;
• Removal of any allocated or unallocated promotion rewards from the Moomoo AU Accounts held by existing customers and/or new customers, at the expense of the account holder(s);
• Disqualify relevant existing customers and/or new customers from participation in any future promotions or events;
• Make corresponding reports of misconducts or violation of relevant laws or regulations to regulators, including ASIC.
6. A text message or e-mail containing relevant information about the Promotion will be sent to participants. If you want to turn off notifications, you can go to "Settings - New Message Notifications - Cancel Notifications" on the moomoo App.
7. At its sole discretion, Moomoo AU reserves the right to cancel, terminate, modify or suspend this Promotion and invalidate any affected participations, or suspend or vary a reward, without any further notice or assuming any liability to any person(s).
8. You can only open one trading account with us and are required to agree to all existing terms and conditions in the Client Services Agreement , as well as all the terms and conditions of this Promotion, or any other promotions or events. If your securities account shows signs of fraud, abuse, or suspicious activity, e.g. including but not limited to registering multiple accounts using the same device, Moomoo AU may, at its sole discretion, cancel your rewards and limit your eligibility to participate in future promotions.
9. Each device, mobile or desktop, is only entitled to one set of account-opening rewards, deposit rewards, and referral rewards. A user can only be referred once. Using the same moomoo ID, phone number, or device will all be regarded as a single user.
10. This event is not available for users on the "Moomoo AU Event Participation Ban List". If a user repeatedly violates Moomoo AU's safety rules, the user will be put on the "Moomoo AU Event Participation Ban List".If you need to know more about the list, you can contact the customer service team of Moomoo AU.
11. This Promotion is not an offer, recommendation or solicitation for the purchase or sale of any securities. It is not intended to be, nor does it constitute any form of financial advice.
12. Moomoo AU shall not assume any liability to any financial or non financial losses incurred to any persons in connection with the Promotion, however arising, including but not limited to losses incurred from trading.
13. Moomoo AU reserves the right, in its sole discretion, to refuse to allocate any or all of the above benefits if it believes that the client is ineligible to participate in the Promotion, or that the client is engaging in, has engaged in, attempted or caused to engage in activities in violation of the Terms and Conditions. In such cases, Moomoo AU's decision will be final and no further correspondence will be entered into.
14. Moomoo AU has the final right to interpret these terms and conditions. The data and data confirmed of this Promotion shall be subject to confirmation by Moomoo AU's back-end data. In case of any disputes, Moomoo AU reserves the right to make the final decision without any further notice.
15. The Terms and Conditions are written in both Chinese and English. In the event of any discrepancy between the Chinese version and the English version, the English version shall prevail.