Can I cancel an order?
Yes you can cancel a Buy or Sell order up until 12pm of the business day in which you placed the order. Where you have placed an order on a non-business day, you can cancel the order up until 12pm of the next business day.
Can I amend an order?
No you can not amend an order. If the order is still in a pending status then you can cancel it. You can then create a new Buy or Sell order.
How do I know if my Invest or Sell order has been executed?
You will receive a notification in a number of ways:
- The order will appear in the list of Completed orders on the Orders page
- The addition (invest) or reduction (sell) of units will appear in your Holdings.
Do I need any specific investment knowledge?
InvestNow does not provide financial advice.
Prior to investing in any Fund you should read the disclosure material and research the managed fund to ensure that it meets your specific investment needs.
We believe it is good practice to get independent financial advice, and recommend that you get this. A list of Authorised Financial Advisers (AFAs) is available on the FMA’s website: www.fma.govt.nz
Websites such as sorted.org.nz are also a useful resource. Visit their “Investing & savings guide” for helpful information.
Do I need to invest a minimum initial amount?
There is no minimum amount for deposits into your InvestNow Transaction Account.
Minimum investment amount for Managed Funds purchases is $50, when part of a Regular Investment Plan, or $250 for one-off investments
Can I create a direct debit from my Nominated Account to my InvestNow account from within InvestNow?
Not currently – it’s on our list of enhancements for the service. We shall let you know once it has been developed.
In the meantime you have to transfer money into your InvestNow Transaction Account by online bill payment or direct credit from your Nominated bank account.
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 […]
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.
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 […]
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 […]