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 the same.

What does it mean if I have a Holder Identification Number (HIN) account?

• Platform experience is the same.

• Stocks will be directly held under your name (only ASX instruments).

• 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 a Custody account and HIN account?

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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, 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.

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

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

• We need to obtain the HIN from CHESS before facilitating ASX access for your account. It normally takes 3-5 working days after your account is opened with us.

Are my international stocks under a Custody model?

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

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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