Cash Hub supports First and Second Party Payments. Cash Hub does not support Third Party Payments,
First Party payment is payment to an account in your own name. This includes:
- Linked bank account payments (movement to your nominated linked bank account)
The nominated linked bank account is an external account held by you in your own name for the deposit and withdrawal of funds to/from the Cash Hub.
Second Party payment is a payment to a directly linked account in which you are the beneficial owner and/or directly linked account as part of the administration, management and operation of your wealth journey or portfolio.
- Settling of Australian exchange traded products
- Settling of International exchange traded products
- Corporate action participation (entitlement offers, share purchase plans).
- Authorised bank account transfers to a duplicate trading or platform account (e.g., to clear fees or settle trades).
- Pension payments.
- Margin loan cash movements (funding / repayments consistent with facility terms).
- Managed fund applications / subscriptions.
- Investment payments (capital calls; unlisted fund / private asset investments).
- Employee share / loan transactions (e.g., repay employee loan after share sale collateral release).
- Option exercise funding (use of sale proceeds to cover strike cost).
- Accountancy / professional fees.
- ASIC related payments.
- ATO payments (tax, instalments).
- Insurance premiums.
- Operational costs with Wholesale Managed Investment Schemes (MIS)
Third party payments are not permitted from Cash Hub. Third party payments are defined as payments to an account held by another party not related to your investment-related settlements. For example, living expenses such as school fees or payments to family members are not permitted.
All payments, First or Second Party, are executed from your account within the Cash Hub framework and require appropriate instruction authority (direct client, adviser with authority, or standing direction) and beneficiary verification as per standard FinClear standard operating procedures.