What is the FinClear24 Multi-Currency Cash Hub
The FinClear Cash Hub is a multi-currency client money account with unique account number for each client.
The facility is provided by FinCIear for the holding of money for the purpose of settling investment transactions and facilitating related financial services. FinClear holds your funds in accordance with the Corporations Act 2001 (Cth), particularly the client money provisions under Part 7.8, and the ASIC Client Money Reporting Rules 2017.
All money received from or on behalf of you in relation to investment services will be deposited into a Client Segregated Trust Account operated by FinCIear, held with an Authorised Deposit-taking Institution (ADI) in Australia.
This account may be a pooled client account in which your funds are co-mingled with those of other FinClear clients. However, FinClear maintains records to track and report your entitlements at all times. The Client Money Account is not used for FinClear's proprietary purposes and is held on trust in accordance with applicable law
It is not a deposit product and does not give you a direct claim on interest generated in any specific underlying bank account. Instead, you receive a Contractual Return Promise (CRP) from FinClear (see below).
