Should I choose a HIN or custody ownership model for my ASX trading with Totality?

This is entirely a personal preference.

What does it mean if I have a Custody account?

• When trading ASX Stocks, ETFs, ETCs and Bonds with  Totality in a custody share trading account, Totality is acting as the custodian of the assets. These assets are held on your behalf by Totality’s sub-custodian Citibank, under Totality.

• This is separate to a HIN account, where you hold the assets directly under your name via a registered client holdings CHESS Broker Sponsored Account.

• Platform experience is still the same.

What does it mean if I have a HIN account?

• Platform experience is still the same.

• Stocks will be directly held under your name (only ASX – AU stocks).

• You will receive all your ASX corporate actions via mail (paper).

• Only available to clients of Totality

Where do my dividends from ASX stocks go?

• If you have a HIN account, the dividends go to your nominated external bank account.  

• If you have a custody account, the dividends are to be credited to your Totality account.

How do I register the bank account to receive ASX dividends for HIN account?

• Please go to the share registry's website and register your bank account details.

• If you do not submit your bank details, the registry may send you a cheque or hold the funds until you provide the details.

What is the difference between Custody account and HIN account?

• Name held in

• Custody: Stocks held under custodian -  Totality

• HIN: AU stocks held under the client's name.

• Corporate Actions

• Custody: Online on the platform.

• HIN: AU stocks will receive correspondence on corporate actions via paper mail.

• Voting rights

• Custody: None

• HIN: Given voting rights.

• Current commissions    

• Custody: Please refer to website. documents

• HIN: AUD 14.90 minimum

• For the prevailing costs/commissions, please always refer to the to the trading conditions in the platform. The rates above are subject to change.  

• Dividend

• Custody: Will be allocated to Totality trading account.

• HIN: Will be allocated to your nominated external bank account.  

How do I know whether I have a Custody account or HIN account?

• When you first opened an account with Totality, if you nominated a HIN account, and provided us with your Holder Identification Number (HIN), your account would be set up as a HIN account. If you did not elect a HIN account or provide us with your HIN number, your Totality account would be set up as a Custody account by default.

• When a HIN account is set up you also agree to the Terms & Conditions of the sponsoring broker, Open Markets.

Why can't I see ASX stocks after my HIN account is opened?

• We will need to get the HIN account number from CHESS before giving ASX access to your account. It normally takes 3-5 working days after your account is opened with us. See more here: ‘I just opened a Totality account. Why can’t I view or trade Australian shares?’.

Are my international stocks under a Custody model?

• Yes. The CHESS (or HIN) model is only available in Australia for ASX-listed products.

Can I move my current (Totality) account from a custody model to a HIN model (i.e., change my custody account to HIN account)?

• No, we can only offer HIN accounts to new Totality accounts. We cannot change existing custody accounts to HIN accounts.

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