InvestNow Account Opening Guide
Account Types – Account Opening at InvestNow
We have designed the account opening process to be completely paperless, including identity and address verification. However, like so many things in life there are exceptions. Online verification works for current New Zealand driver’s licenses and passports, and will check your address against company records, land ownership and credit reporting databases. If your license or passport passes the online verification but your address does not, we will contact you to request proof of address (a recent bill, bank statement or letter from a government agency) which can be uploaded or emailed to us.
In some cases, electronic verification will not work and offline verification will be required – for example, if your only form of ID is a foreign passport, you can upload a certified copy along with your proof of address. If you do not have a passport or driver’s license, please contact us to discuss as we can accept other forms of ID on a case-by-case basis.
The checklist below explains the information you will need to open your InvestNow investment account.
|Information Needed||Individual or Joint Account||Trust Account*||NZ Company Account|
|Tax year-end date||Yes||Yes||Yes|
|Bank Deposit Slip or Bank Statement||–||Yes||Yes|
|Certificate of Incorporation||–||–||Yes|
* Please also refer to the FAQ “What information do I need to provide to open a trust account?”
Investor Types – Member Roles & Permissions
Most people will establish their InvestNow account so only they can operate it. This is straightforward and is the default option.
However if you require more than one person to have access to your account, for example two people are required to authorise transactions, we’ve made that easy as well – you simply add an additional Member (user) to your InvestNow account.
There are two primary roles for Members linked with an InvestNow account – Owners and Viewers (you can also nominate if a member is an Accountant or Auditor).
Once you have selected your Member role, you then need to nominate if the Member can make changes on the account, initiate and authorise transactions (an “Authoriser”). For each “Authoriser” member we will need to complete Identity and Address verification. You can elect to do the verification online or offline.
For online verification you can use any of the following ID documents:
- Current NZ drivers license
- Current NZ passport
If you elect the offline verification process you will need to supply a certified copy of your selected ID document (as per above) and a certified copy of a proof of address e.g. utility bill. Both must have been certified within the past three months.
As customers you are expected to follow best practice internet security measures e.g. not sharing passwords, operating virus checking software on your computer etc. However as an additional layer of security, we utilise two-factor-authentication for logging in to your account. This means we will send you a unique passcode as part of the login process. You can select to receive the passcode via e-mail or mobile phone.
If you need any help or have any questions whatsoever, please don’t hesitate to get in touch. Our contact centre operates Mon-Fri 8:00am to 5:00pm, except national public holidays.