What is an IRD number?
IRD stands for “Inland Revenue Department”. An IRD Number is a unique tax number given to you by the Inland Revenue Department of New Zealand so that you can pay the correct work taxes as you work in New Zealand.
What performance data is available for funds?
You can access two forms of performance data for the funds we offer – the performance returns for funds you hold in your InvestNow portfolio, since you have held them, or historical performance data going back up to 10 years, where available.
Performance Data for My Funds
On your PERFORMANCE page we provide a simple bar chart which shows the returns for each asset you currently hold, since inception of your portfolio – you can sort this by the name of the asset or the value of the $ return. We also […]
Does InvestNow offer accounts for children?
Many of our customers have asked if InvestNow offers accounts for children – the answer is simply, yes.
Here is what is needed to set up a child’s account with InvestNow:
- A unique email address for the child, and everyone linked to the account.
- A proof of ID for both the child and the parent/guardian:
- Drivers license
- Passport
- Birth Certificate
- As it is unlikely that a child’s address will appear in any credit databases or land ownership records, we will accept proof of address in the parent or guardian’s name. Alternatively, […]
Confirm your Resident Withholding Tax (RWT) rate
It’s important that your RWT rate is correct, particularly for investing in Term Deposits (TDs).
Follow these simple steps to confirm you have provided the correct RWT for your InvestNow portfolio.
Select the “Profile”icon:
Select the “Edit” link for Investor Details:
Update the RWT rate if needed. If you are not sure what the rates of RWT are, we have an FAQ for that, including a link to the IRD for more information.
I set my term deposit to automatically rollover, so why is the cash visible in my transaction account?
On the day that your term deposit matures, the funds from the maturity are credited to your transaction account. At 11:30 am on the same day, your new term deposit order will be created and sent to the bank. Before 11:30am you will be able to see the matured term deposit funds in your account, but please note that if you withdraw or spend these funds, the new term deposit will not be created.
If you wish to retain the funds from your term deposit, please modify the rollover instructions […]
Is term deposit interest compounded?
We do not offer compounding interest payments for individual term deposits. Term deposit interest is paid back to your transaction account.
However, you can choose to automatically roll over a term deposit at maturity, including both the principal and interest in a new term deposit.
Can I end my term deposit early?
We may, at our discretion, and following consultation with the specific bank, allow you to break your Term Deposit (TD) and return the funds to your Transaction Account. Please note that there may be fees charged by InvestNow, the bank and our custodian to process any approved break request.
The following steps apply to all requests to break IDs:
- Call us on 0800 499 466, email us on contact@investnow.co.nz or use the Contact Us form with details of the TD you wish to break.
- We will obtain a quote from […]
When will the latest term deposit interest rates be available?
We make the most recent rates available for purchase at 12:00 pm each business day.
How long does it take to process a term deposit order?
We send all term deposit requests to the appropriate bank at 12:00 pm each business day. Once we have received confirmation that the bank has created your term deposit, your Orders page will show that your order is complete, and the term deposit will appear on your Holdings page. This will generally happen by close of business on the same day that the request is sent to the bank.
What fixed term options are available?
InvestNow currently offers term deposits with the following terms:
- 1 month
- 3 months
- 6 months
- 9 months
- 12 months
- 18 months
- 2 years
- 3 years
- 4 years
- 5 years
Please note that not all terms are available for all banks.