FAQs Archive - Page 13 of 14

Q: What is a nominated account?

[fusion_builder_container hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" enable_mobile="no" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_size="" border_color="" border_style="solid" margin_top="" margin_bottom="" padding_top="20px" padding_right="" padding_bottom="20px" padding_left=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" spacing="" center_content="no" hover_type="none" link="" min_height="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="left top" background_repeat="no-repeat" border_size="0" border_color="" border_style="solid" border_position="all" padding_top="" padding_right="" padding_bottom="" padding_left="" dimension_margin="" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset="" last="no"][fusion_text] When you open your InvestNow account you are asked to provide the details of a nominated bank account (nominated account). You deposit money into your InvestNow Transaction account from your nominated bank account and when you withdraw money from InvestNow it is transferred to your nominated bank account. The nominated bank account must be under your control. We do not accept cheque or cash deposits. [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Q: When does my InvestNow account become active?

[fusion_builder_container hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" enable_mobile="no" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" overlay_opacity="0.5" video_preview_image="" border_size="" border_color="" border_style="solid" margin_top="" margin_bottom="" padding_top="20px" padding_right="" padding_bottom="20px" padding_left=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" spacing="" center_content="no" hover_type="none" link="" min_height="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="left top" background_repeat="no-repeat" border_size="0" border_color="" border_style="solid" border_position="all" padding="" dimension_margin="" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset="" last="no"][fusion_text]Once you have completed the online account opening process, including the identity and bank account verification, your account becomes Active. You can now transfer money into your InvestNow Transaction Account and begin investing in managed funds.[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Q: What are my responsibilities as a customer of InvestNow?

[fusion_builder_container hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" enable_mobile="no" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" overlay_opacity="0.5" video_preview_image="" border_size="" border_color="" border_style="solid" margin_top="" margin_bottom="" padding_top="20px" padding_right="" padding_bottom="20px" padding_left=""][fusion_builder_row][fusion_builder_column type="1_1" layout="1_1" spacing="" center_content="no" hover_type="none" link="" min_height="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="left top" background_repeat="no-repeat" border_size="0" border_color="" border_style="solid" border_position="all" padding="" dimension_margin="" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset="" last="no"][fusion_text] You should read the Client Agreement carefully to ensure that you understand all of the terms and conditions of your agreement with us. You should read the disclosure material for any fund before investing. We strongly recommend that you seek independent advice before making any investment. [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

How much interest does my InvestNow cash account earn?

Cash balances in InvestNow Transaction Accounts do not accrue interest. InvestNow receives the interest on any money held within the Transaction Account, which helps to pay costs associated with offering and operating InvestNow, including bank fees (for example, a $0.15 fee for each and every deposit by a customer, and a $30 Telegraphic Transfer fee for each purchase of units in managed funds based in Australia) which are not passed on to our customers.

The interest that InvestNow receives is the Official Cash Rate (OCR).

Here are some examples […]

By Mike Heath|2022-12-05T15:56:03+13:00December 10th, 2016|Account Questions|Comments Off

What is a nominated account?

When you open your InvestNow account you are asked to provide the details of a nominated bank account (nominated account). You deposit money into your InvestNow Transaction account from your nominated bank account and when you withdraw money from InvestNow it is transferred to your nominated bank account. The nominated bank account must be under your control.

We do not accept cheque or cash deposits.

By Mike Heath|2019-06-14T14:27:36+12:00December 10th, 2016|Account Questions, Term Definitions|Comments Off

How do I pay for my Managed Funds?

InvestNow provides each customer with a Transaction account. You transfer money from your nominated bank account, into your InvestNow Transaction account and then use this money, once cleared, to pay for managed funds.

Here are the steps to deposit money into your InvestNow Transaction Account:

Log on to your InvestNow account
Select the “Quick Actions” link (you’ll find it in the top right of the page, in the green banner)
Click the “Deposit funds” link
You will be presented with instructions on how to set your InvestNow account as a […]

By Mike Heath|2023-07-12T15:19:35+12:00December 10th, 2016|Account Questions, Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

What is the Transaction Account?

Each InvestNow customer has a Transaction Account – it’s just like a bank account for money coming in and out of your InvestNow account.

Currently no interest is paid to you on your balance within the Transaction Account. We receive the interest on any money held within the Transaction Account. This interest is used to pay Costs associated with offering and operating InvestNow

You transfer money, from your nominated bank account, into your InvestNow Transaction Account to purchase Managed Funds. And when you sell Managed Funds, the sale proceeds are credited to […]

By Mike Heath|2019-06-14T14:28:54+12:00December 10th, 2016|Account Questions, Term Definitions|Comments Off

What are the fees and costs?

InvestNow does not charge any account or administration fees (we do receive a distribution fee on Term Deposits, see FAQ here, and interest held in Transaction Accounts, see FAQ here).

Any funds you choose to invest in have fund charges associated with them that are levied by the fund manager. The fund charges for funds on InvestNow are the same as you would experience investing directly with any of our fund managers. A small number of funds also have transaction fees* that InvestNow levies, which are applied […]

By Mike Heath|2024-10-18T11:08:21+13:00December 10th, 2016|Account Questions, Investment Portfolio Management Questions, Questions about InvestNow|Comments Off

When does my InvestNow account become active?

Once you have completed the online account opening process, including the identity and bank account verification, your account becomes Active.

You can now transfer money into your InvestNow Transaction Account and begin investing in managed funds.

By Mike Heath|2019-06-14T14:30:08+12:00December 10th, 2016|Account Questions|Comments Off

Can I verify my identity offline?

The identities of individuals can be verified either offline or online. For offline verification you will need to supply the following documents as part of the account opening process:

A current copy of your drivers’ license, passport, or birth certificate
Proof of address e.g. utility bill or a bank statement

The identities of Companies and Trusts require additional documents being supplied to InvestNow:

Companies
- Certificate of Incorporation

Trusts
- Trust Deed including any amendments
- Proof of address
- Bank deposit slip or bank statement
- We may also request evidence of the source […]

By Mike Heath|2021-02-18T13:22:34+13:00December 10th, 2016|Account Questions|Comments Off

How do I join InvestNow?

InvestNow is an online-only service. You open your account at www.investnow.co.nz – follow the “Join Now” instructions.

InvestNow offers the following account types:

Individual
Joint
Trust
NZ Company

While account holders need not be currently resident in New Zealand, a New Zealand bank account and a New Zealand IRD number are requirements to open an account. Foreign tax residents must disclose their countries of tax residence and their foreign Tax Identification Number (TIN).

To complete the joining process you will need to have your identity verified. You will need to have the required documents available when you […]

By Mike Heath|2019-06-14T14:31:07+12:00December 10th, 2016|Questions about InvestNow|Comments Off

Can I verify my identity online?

The identities of individuals with current New Zealand passports or drivers’ licenses can be automatically verified online using the Cloudcheck service offered by Verifi Identity Services.

The following information is required:

Your full name, as it appears on your identity document
Your address
Your date of birth
Details of your identity document:
- the passport number and expiry date or,
- the drivers’ license number and version number

Please note that your passport or drivers’ license must be current i.e. not expired or cancelled. A passport which has been cancelled and reissued […]

By Mike Heath|2019-06-14T14:31:33+12:00December 10th, 2016|Account Questions|Comments Off

What are my responsibilities as a customer of InvestNow?

You should read the Client Agreement carefully to ensure that you understand all of the terms and conditions of your agreement with us.

You should read the disclosure material for any fund before investing. We strongly recommend that you seek independent advice before making any investment.

By Mike Heath|2019-06-14T14:32:14+12:00December 10th, 2016|Account Questions, Investment Portfolio Management Questions, Questions about InvestNow|Comments Off