Cash Plus Introductory Offer for Existing Clients - December 2023 to May 2024

1. Introduction

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 for up-to-date interest rates.

 

2. Promotor

Futu Securities (Australia) Ltd

 

3. Campaign Period

The Campaign is valid from 00:01AM AET on 5 December 2023 to 23:59PM AET on 30 May 2024 ("Campaign Period")

 

4. Campaign Terms and Rewards

Cash Plus Introductory Offer for Existing Clients (maximum 60 days subject to conditions)

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 4.2.1 and 4.2.2., each will reward an Existing Client 30 days of increased Introductory Rate in substitution for the Base Rates, totalling 60 days.

4.2.1 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.

4.2.2 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., applicable to all cash assets deposited in AUD and USD in Moomoo AU Account enrolled for Cash Plus Program.

• 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, and will be displayed and distributed in two parts, including a 3.75% p.a. Base Rate and a 3.05% p.a. booster rate activated by Cash Plus Booster Coupon (as defined below). Interests calculated according to the Introductory Rate (including both rates mentioned above) will be distributed in the form of cash. Please go to Existing Customer webpage for specific amounts.

  • Assuming daily uninvested cash balance is maintained at exactly AUD$100,000 and/or USD$ 100,000 in the respective trading account(s), the maximum interests paid during the 60-day period will be AUD$1,117 and/or USD$1,117 respectively.

  • If the Existing Client obtains a Cash Plus Booster Coupon for cash assets deposited in either currency (i.e AUD or USD) and there is no other Cash Plus Booster Coupon in effect for the cash assets deposited in such currency, then the Cash Plus Booster Coupon will be automatically activated upon issuance, with no need for manual activation. In the event that 2 Cash Plus Booster Coupons were issued at the same time for cash asstes deposited in the same currency upon satisfaction of conditions as per these terms and conditions, the two Cash Plus Booster Coupons cannot be used in combination. The Cash Plus Booster Coupons must be manually activated and can only come into effect after the expiration of the first Cash Plus Booster Coupons's effective period.

• Cash Plus Booster Coupon：

  • Automatic Issuance: Once the Elgible New Client has finished the above-mentioned enrollment for Cash Plus program for the first time, an exclusive interest rate card ("Cash Plus Booster Coupon") will be automatically issued, with no need to claim, and will enjoy a 3.05% annualized cash asset return for 180 days.

  • No Activation: The Cash Plus Booster Coupon will be automatically activated at the date of enrollment, with no need for manual activation.

  • Interest Distribution rules: Same as the base interests, the interests arising from the Cash Plus Booster Coupon will be updated daily and usually be paid on the 1st of each following calendar month.

  • Other rules:

    ■ Upon initial enrollment, the Eligible New Client will be deemed to automatically enroll for both AUD and/or USD cash assets deposited in his/her respective trading account, with a 6.8% return on both, so two Cash Plus Booster Coupons will be issued for corresponding assets in these two currencies.

    ■ Cash assets applicable to use the Cash Plus Booster Coupon are the same as "Uninvested cash balance" under the Cash Plus program.

 

4.2.3 other rules and notes

• Available Currencies:This Promotion is only available for uninvested cash balances deposited in Australian Dollar (AUD) and US Dollar (USD) , and is not available for uninvested cash balances deposited in other currencies.

• Daily interest accrual cut-off period: Funds deposited during the 24 hours from AET 12:00 PM (at noon) on T-1 to AET 12:00 PM (at noon) on T day will be included in the uninvested cash balance calculation on T day (excluding the day of initial enrollment of Cash Plus program, please refer to clause 5 of "Additional Notes"). Funds deposited after AET 12:00 PM (at noon) on T day will be included in the uninvested cash balance calculations on T+1 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 23:59PM AET on the day (T+0).

• Daily income calculation formula: Daily Interest = Uninvested cash balance (up to AUD $100,000/ USD $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 AET 12:00 PM (at noon) daily cut-off times for interest accrual. On the daily and monthly account statements delivered to clients, this figure is displayed as "Univested 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 an Eligible 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 23:59AM 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;

 

5. Income distribution and tax implications

• Income display: Participating New Clients and Existing Clients can find [Total accumulated income], [Cash Management Interest], and[Booster rewards] on the activity page, after completing the Enrolment process through the Cash Plus acticity page.

• Distribution rules: The interest distribution (for both basic interests and cooster interests ) for the previous calendar month will usually be completed on the first working day of the following month, but subject to uncontrollable delays caused by Force Majeure or third-party reasons cannot be attributed to Moomoo AU. In the event of the aforesaid delay, Moomoo AU will try the best to complete the interest distribution within 3 business days.

• 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.

 

6. FAQs

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 MUFG 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 clients participating in the cash management program for a limited period of 60 days (appliocable only to uninvested balance of up to AUD$100,000 and USD$100,000 ; 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 accrues on a daily basis and is usually paid into your account on the first working day of the following month. Please note that the income will be paid in two parts (for basic income and booster income).Refer to this page https://invest.au.moomoo.com/cashplus 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 PM (at noon) on T-1 to AET 12:00 PM (at noon) on T day will be included in the asset interest on T day, and after AET 12:00 PM (at noon) , they will be included in the asset interest on T+1 day.The cash balance is the cash withdrawable amount. Any cash held under pending orders and unsettled orders is not entitled to interest. You can see your accumulated interest on the landing page https://invest.au.moomoo.com/cashplus. Please book mark this as this is updated dynamically every day（Updated daily after 22:00 PM Australian Eastern Time）. You will also be able to check your accumulated interest when we distribute interest to you on the first working day of the following month.Interest is calculated daily and distributed monthly to your trading account as cash .

 

7. Other Terms and Conditions

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.