Account Questions Archives - Page 5 of 6

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.

By Mike Heath|2019-06-14T14:24:19+12:00December 10th, 2016|Account Questions, Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

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

By Mike Heath|2019-06-14T14:24:54+12:00December 10th, 2016|Account Questions, Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

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.

By Mike Heath|2019-06-14T14:26:23+12:00December 10th, 2016|Account Questions|Comments Off

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