Free Brokerage (NAB, CommSec, Wespac)

FlyingPanda on 01/06/2011 - 22:41

Just a bit of an update as most of the banks keep extending these offers. Feel free to post some other banks with free brokerage too.

NAB - $750 free brokerage:
http://www.nab.com.au/wps/wcm/connect/nab/campaigns/personal…

"Offer applies to new NAB OnLine Trading accounts opened by selected NAB clients between 15 November 2010 and 31 July 2011."

"You’ll have 60 days to use your free brokerage, capped at $29.95 per trade."

"For casual or new investors, our online brokerage rates start from just $29.95.
Eligible frequent traders can access brokerage rates from as low as $19.95 per trade*."

"* Frequent trader rebates available with the Premium or Professional Information Service only."

Westpac - $600 free brokerage:
http://www.westpac.com.au/personal-banking/investments/onlin…

"This offer is valid until 30 June 2011 unless withdrawn or varied earlier. All qualifying trades must be settled within 60 days of this date."

"Trade from $19.95 or 0.11% of trade value, whichever is greater*"

"*$19.95 rate available when you trade online through a Westpac Cash Investment Account. Please refer to the FSG for full brokerage rates."

CommSec - $600 free brokerage:
http://www.commsec.info/onlineoffer/

"Offer available only to customers opening a new CommSec Trading Account & Cash Management Account (which includes the CommSec Cash Account and CommSec Investment Account) before 30 June 2011."

Couldn't find expiry - I assume there is one in the terms and conditions while applying…

More here: http://www.ozbargain.com.au/node/31808

Old but probably all have renewed the offers like the above three :P

REMEMBER TO READ THE FULL TERMS AND CONDITIONS!

General Discussion

Comments

  • FlyingPanda on 01/06/2011 - 22:42

    I had that bit more spread out so it was easier to read :P

  • stralya on 02/06/2011 - 13:04
    +1

    Having used most of these free offers before, my experience has been:
    1. The clock starts ticking from the moment the account is created, but it may be a few days before you can start trading (get logins, transfer funds into account etc), so effectively you lose upto 1-2 weeks of the 'free period'.

    1. Only the first $29.95 or so of each trade is free.

    2. Comsec was absolutely terrible when it came to giving me the free trades. They kept charging for trades, took 2 weeks out of the free period to set up my account, and would not reverse brokerage out. Instead they offered to extend the free period out by another 4 weeks, which I did not want. So after weeks of impossible customer service (and I use the word 'service' loosely), I had to take it to the banking ombudsman to get a refund of what should have been free in the first place.

    3. E-trade (ANZ) offer a similar deal, but one of the T&Cs is that if you shut the account within 6 months, you will be charged for the free brokerage provided.

    4. Being a moderately regular trader (1-2 trades a week), the best offer I found for my personal circumstances was with Bell Direct (through NRMA). Gives you a $200 bonus upftont, every 10th trade is free, and fee is $15 or 0.1% (whichever is higher).

    • FlyingPanda on 02/06/2011 - 14:00

      Did you end up getting your refund?

      Thanks for the info :)

      • stralya on 02/06/2011 - 17:18

        Yes, I did get my refund. Within a week of filing my complaint and speaking to someone from the ombudsman's office!

Login or Join to leave a comment
Login Join