It's in the AFR online this month but this is the major point based on the interest rate cuts...
The holder of a Hub Super account would receive an interest rate on their cash of 0.5 per cent. The account holder would also pay an administration fee on the cash of 56 basis points.This would leave a “net effective return” on cash of minus 6 basis points, according to Johnson. He says the situation would be worse for someone using the Hub Bespoke account.
It's in the AFR online this month but this is the major point...
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