@jaetii “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”
@jaetii I’ve just opened one. I’m comfortable with their T&C’s. The bsb is HSBC. So it’s being held in a trust there. Can withdraw anytime the entire balance. There’s no daily limit so I can withdraw $100k anytime. The company looks well capitalized on the nasdaq and performing well as a business.
@stephanie2425 It isnt exactly for 6 months. 2months for new users. 1 month for current users. No delays with moomoo, been with them for years.. Yep anz
@romasliv Once I transferred it, I then got a message the next day that it had been actioned. It was in my account later that same day. So essentially overnight.
@jaetii I'm not denying you can get higher rates with moomoo than with a bank.
As I said, moomoo is a higher risk investment. If moomoo goes belly-up, your savings are gone. If an Australian bank goes belly-up (highly unlikely), your savings (up to $250k) are guaranteed by the federal government.
