Raiz - FAQ (2024)

Raiz is a financial service, helping you to save and invest your money. We enable Australians to start early, invest often, and reach their financial goals.

Raiz works by allowing you to invest small amounts of money into a diversified portfolio of assets. Raiz is best known for its Round-Up feature which involves rounding up your transactions to the nearest dollar and investing the spare change into your Raiz account. This means that for every spend that you make, you are also investing into your Raiz portfolio.Please note that Raiz offers other great ways of investing besides round-ups, for more info please see thisarticle.

A personalised investment portfolio, no account minimums, no commissions, and fractional investing – all in your pocket. Raiz wants to make investing more accessible for everyone, and at the same time provide a service which also makes saving easy.

We’ve kept the signup process as painless as possible. Simply provide your email address, choose a secure password, link a funding account, and answer a few questions about yourself.Once that’s done we will verify your account as soon as we can.

The Anti-Money Laundering Act (AML/CTF Act 2006) obliges institutions such as Raiz to collect and verify certain 'information about a customers' identity. This is standard for any financial institution. We ask for some basic information (legal first and last name, home address, date of birth etc.). We will verify your account as quickly as we can once we have this information, however if there is any inaccuracy in the information provided, your funds will not be invested until your identity is verified.You can be sure that Raiz will take care of any information you provide and that our procedures will be keeping in line with Privacy Act 1998.

No, Raiz has no minimum account balance requirement to open an account, but in order for you to start investing your funds into your chosen portfolio your round-ups/lump sums must amount to more than $5. This is conveniently done through our round-ups process; each time you make a purchase, those rounds-ups accumulate towards the $5 threshold.

Raiz operates in the cloud and your account and investments are safe even if you delete the app or get a new phone or device. Automatic round-ups and recurring deposits will still be processed even if the Raiz app is not currently installed.

Yes, you can withdraw your money anytime through the app or you can close your Australian account anytime on the app under My settings > Support > Close account. If you are having issues, please contact us via email at support@raizinvest.com.au, to receive assistance in the account closure. Please note, that this is for Australian customers only. Also note, that uninstalling the app does not close your investment account or cancel any pending/scheduled transactions.

When you opened you Raiz account you were sent a PDS. There is also a PDS on our website. A PDS is the document that contains information about the Raiz financial product including any significant benefits and significant risks, the cost of the Raiz financial product and the fees and charges that Raiz may receive. You should read the PDS carefully before deciding to open a Raiz Investment Account. (Link toPDS)

Raiz has constructed and offers you the choice of 7 portfolios, ranging from conservative (least risky) to aggressive (most risky), along with the Emerald portfolio (socially responsible theme) and the Sapphire portfolio (up to 5% Bitcoin holding). Please refer to the PDS for more information - these portfolios have different risk profiles and accordingly have different expected returns. You can use the iPhone or Android app or visit our website to see the selection of our portfolios and read more about the underlying investments in the PDS we sent you so, you can choose a portfolio which best suits you.Note, if you'd like more info on portfolios, check out thisarticle.

Your investment portfolio is comprised of 4-7 ETFs and potentially Bitcoin (Sapphire portfolio). ETFs trade like stocks and represent broad holdings of stocks, bonds or cash. For more information on ETFs please read thisarticle.Note, if you'd like more info check out thisarticle.

Yes, if you change your mind at any point, you always have the option to change your portfolio to one of the alternatives with no fees being charged for switching. We want you to be sure you’re comfortable with the risk level of whatever portfolio you choose.

You cannot opt out of any of the ETFs in Raiz’s portfolios, nor of the stocks or bonds of which the ETFs are comprised. You also do not have the option of choosing to invest in other stocks, bonds, or other securities or currency.

Yes. The securities you own are subject to market fluctuations. This is why we advocate long-term investment goals. For more information about our investment methodology and risks associated with each investment please refer to the relevant sections of the PDS you were sent, on our website.Note, if you'd like more info regarding risk, check out thisarticle.

Find out more about ETFs in this helpfularticle.

Automatic rebalancing is Raiz’s method of maintaining your specific portfolio allocation. Market fluctuations may cause some of the securities in your portfolio to appreciate or depreciate in value. When this occurs, we use automatic rebalancing to bring your portfolio back to its specified allocation. This ensures that the securities in your investment account are proportioned correctly.

Yes you will! Your dividends and distributions will be automatically reinvested in your portfolio, you can view your dividends and distribution history through the platform. Bitcoin does not pay distributions or dividends in any form.Note, if you'd like more info on dividends, check out thisarticle.

The 4-7 ETFs that make up your portfolio pay dividends and distributions on varying schedules. For more detailed information on the ETFs and their dividend schedules please refer to the prospectus of each individual ETF, which will be found on their websites.

Yes, you can withdraw money from your Raiz account at any time. This will take 5 business days to process before the funds become available in your account due to bank transfer times and the ASX’s 2-day settlement period.

It will take 2-3 business days for funds transferred to your Raiz account to become available to invest. These funds will be shown as “pending” during this time period.

Yes. There is currently a daily transaction limit of $10,000.

No. You can withdraw any amount from your balance at any time.

Yes, if you wish to change your funding account, you must first unlink your current funding account, then add a new one. In accordance with our anti-fraud procedure we may require further verification before a change of funding account is processed – which could take up to 90 business days.

Raiz reminds all customers to always make sure that their account has the proper funds before committing to an investment in the app. If, for any reason, investments made by you (or because of a setting which you configured in the app) are charged back due to non-sufficient funds or cause a fee on your account, Raiz will not be responsible for any of these fees charged to you by your bank.

You can monitor your spending through the app, allowing you to spot saving opportunities. To access this you’ll need to provide your online banking login information. However, this information is not stored and is not viewable by Raiz - it’s simply used to import your spending activity. This will not enable money to be transferred from your bank account.

No. Raiz does not store your bank login information.

We require your Tax File Number to issue you a tax reporting form at the end of each year.

For your security, we require that you contact the Raiz Support Team in order to unlock your account. Note that this will require the confirmation of some personal information. Please visit the bottom of this page to reach our Support Team.Note, if you'd like more info on our security measures, check out thisarticle.

Please email us atinquire@raizinvest.com.auand request a holding confirmation for Centrelink with your Raiz account details. Our team will then send through a document which can be provided/uploaded to Centrelink.

Fees will be charged on the last market trading day of the month. For accounts with a balance over $15,000 ($20,000 for Custom portfolios), Raiz will sell fractional ETFs or Bitcoin (for Sapphire and Custom portfolios) from your Raiz balance to cover the fee. For accounts with a balance under $15,000 ($20,000 for Custom portfolios), fees will be charged by direct debit from your nominated funding account. The Sapphire portfolio fees will include both the debit from the funding accountandthe sale of ETFs or Bitcoin from your Raiz balance.

No. It is always free to move money in and out of your Raiz account.

No, there are no fees on $0 balances.

Yes, we create and provide you with an annual tax statement with all the information needed for your tax return in regard to your investment with Raiz. This statement is created in the new financial year and Raiz aims to make these available in the app by the third week of July each year.

You are always able to login to closed Raiz accounts for this reason, so you can access all statements, including tax statements for prior years. Your email address and password should still work to allow you to access this account and the statement needed. If you have login issues, please contact support.

Round-up funds come from the funding account that you connect as a funding source for Raiz. If you connect multiple bank accounts, credit or debit cards, then all of your round-ups will still come from only the connected funding account. This funding account is also the account that funds are sent back to when a withdrawal is requested. For example, if you spend $3.50 using your credit card then that $.50 will eventually come out of your funding account when the round-ups add up to at least $5.

Automatic round-ups can be turned on and off by going to the home page, to “Invest” to “Round-Ups”, to the cog symbol on the top-right once and then again.

Yes. If automatic round-ups are turned off, you can go to , to “Invest”, then to “Round-Ups” and manually select which round-ups you want to invest.

No. You can link as many cards as you like.

Yes, whole dollar or even amounts will round up an entire dollar. However, you can change the amount that is rounded up in these cases, to any amount from $0.00 to $1.00. To do this click on 'My Settings' > 'Spending account' click on cog and adjust the 'Whole Dollar Round ups' toggle.

Your account with Raiz is not at risk if one of your linked cards is lost or stolen. However, you should still unlink the card from your Raiz account. This can be done by going to My Settings > Spending account in the menu tab of the app/website.

Round-ups are based on final amounts charged to your card, including tips.

Raiz Rewards is our loyalty program. When you shop with our partner brands through Raiz Rewards, they will invest a dollar amount or % of your purchase price back into your Raiz account. Raiz may also be paid a fixed amount or % of your purchase price from promoting the partner brand.Note, if you'd like more info on rewards and cashback, check out thisarticle.

All you have to do is visit the Raiz Rewards section of the app, click on the brand you'd like to purchase from, click the 'Shop Now' link and make your purchase immediately. Through these links, we will be able to automatically track your purchase and invest your Raiz Reward into your account. Please check the Terms & Conditions for each partner as some may have specific requirements.

For most Raiz Rewards brand partners, as long as you shop through the links in the Raiz Rewards section of the app, you do not need to pay with an account linked as a spending account. For example, if you shop through eBay using PayPal, please use the link in the Raiz Rewards section of the app and shop as normal. Each user’s link is unique so we are able to link back to your account and credit you the Raiz Reward. However, please check the Terms & Conditions for each partner as some may require you to make a purchase using a card that is linked for Round-Ups in Raiz. For in-store rewards, purchases must be paid via your linked spending account.

Sure! Let us know what retailer you had in mind and we will strive to get in contact with them. You can get in touch with our Raiz Support team at inquire@raizinvest.com.au or call us on 1300 754 748. Please also feel free to contact the retailer you had in mind and share your thoughts about Raiz with them too.

You can find the reward offering for each respective brand by selecting their profile within the Raiz Rewards section of the app. If you would like more information about the brands rewards, please refer to the Terms & Conditions within their respective profile. Also check out the Raiz Rewards home page at www.raizinvest.com.au/rewards/.

Each offer has unique terms and conditions. Please check the details in the app for each respective brand in the Raiz Rewards section of the app. The product and delivery of any purchased product is at the discretion and control of the retailer. This includes the product specifics and the timing of deliveries. If you have any dissatisfaction with your service or product, please get in contact with them directly.

You will automatically receive your reward investment within 90 days from your date of purchase unless otherwise specified in the partner’s Terms & Conditions. If you have any issues after this period, please email support@raizinvest.com.au with a copy of the receipt or tax invoice. Please keep in mind that as per the Terms & Conditions, the outcome of the partner investigation will be final and binding.

In-store allows partnered in-store brands to pay Raiz Rewards when you shop at their physical stores in Australia. To participate you need to activate the in-store offer before you begin shopping at the partnered brand. Similar to Raiz Rewards, they will invest a dollar amount or % of your purchase price back into your Raiz account. Raiz may also be paid a fixed amount or % of your purchase price from promoting the partner brand.

Visit the Raiz Rewards section of the app and click on the 'in-store' category to see eligible brands. Click to activate the in-store offer for each brand, only one activation required for the dates of the promotion term. Make a purchase on your card you’ve linked as a spending account.

You will automatically receive your reward investment within 90 days from your date of purchase unless otherwise specified in the partner’s Terms & Conditions. If you have any issues after this period, please email support@raizinvest.com.au with proof of purchase such as a receipt or bank statement.

Raiz Energy is our home energy comparison tool to make sure you’re getting the best deal. When you transfer your provider with Raiz Energy, you are eligible for a reward into your Raiz account. If you have questions about Raiz Energy from customers that need answering or need a policy cancelled you can email support@econnex.com.au and they will help you out.

If your superannuation institution is not listed on the app, we are yet to link up with your institution. To request having it listed, please let your super fund know that you would like them to work with Raiz, as well as contacting our Raiz Support team at support@raizinvest.com.au or call us on 1300 754 748 and we'll see what we can do!

Unfortunately, no. Due to compliance and legal reasons, we can only direct funds from a regular Raiz Invest account back to retail superannuation funds.However, SMSFs can now sign up for a Raiz Invest account and gain exposure to the same portfolio options. Please see the SMSF section of the FAQs for more information.

Not for a while! Like all Superannuation voluntary contributions, you will not be able to access it again until you are retired. Please consider all voluntary contributions with a licensed advisor before doing it through Raiz.

Please allow a few days for your Raiz withdrawal to be reflected in your super fund, as some funds only update their balances every 3 days. For example, if you withdrew an amount on a Monday morning, it should be reflected in your super fund by Thursday morning. If you're still having issues, please contact our Raiz Support team on support@raizinvest.com.au or call 1300 754 748.

Bitcoin is a cryptocurrency which is treated as an alternative asset class. It is a global digital currency which has a shared ledger and is unregulated by any government or key organisation. We are trading Bitcoin with the New York state regulatedGemini Exchange.

We use the Gemini Trust Company, LLC (Gemini) to buy and sell Bitcoin. It is a regulated trust bank by New York State and is a leading provider of custody services for cryptocurrencies, such as Bitcoin.

Due to the nature of the Bitcoin, the Sapphire Portfolio carries very high level of risk without necessarily corresponding expected higher returns. In addition, the high volatility of Bitcoin and the uncertainty about their future makes the Sapphire Portfolio unsuitable for most investors, including those with a short-term or long-term investment horizon (such as savings for retirement).

The Custom Portfolio allows you to build your own personalised portfolio by choosing the target weightings from a selection of ETFs and Bitcoin. Your custom portfolio is unique to you.

Once selecting the Custom Portfolio option on the top of the portfolio screen - you can use a slider at the bottom of the screen to select what target weight for each ETF or Bitcoin you want to include into your portfolio. Initially your Custom Portfolio will be allocated 100% to the cash ETF AAA. You can set a target allocation of between 0% and 100% for any of the ETFs. Bitcoin however is capped at a 5% target weighting, the same as the Sapphire portfolio.

Customers invested in the Custom Portfolio will be charged a monthly maintenance fee of $4.50, if the account balance is under $20,000. For account balances equal to or above $20,000, then a fee of 0.275% p.a. will apply and no maintenance fee. Please read theProduct Disclosure Statementfor more details and worked examples.

You can change your custom portfolio at any time. You can choose to switch back into one of our seven standard portfolios, or you can adjust the weightings and allocations of your custom portfolio. This rebalancing occurs within a few business days of a portfolio change request. We do not charge any fees for these changes.Custom Portfolio is not a trading tool and changing your portfolio too frequently is not recommended.To edit your custom portfolio, tap on the ‘Edit portfolio’ button on the Custom Portfolio screen in the app. Once you are done editing and want to save the changes, tap on 'Save Allocation'.

If, due to market movement and performance, the weighting of one or more of your ETFs, or Bitcoin, in the custom portfolio changes by more than 5% of the nominated percentage, then the portfolio will automatically rebalance, to realign your portfolio to the originally nominated weightings.

You can include Bitcoin as one of the options in your custom portfolio. However, like the Sapphire portfolio, the maximum target weighting for Bitcoin in your custom portfolio is 5%.

You can have up to a 100% weighting in any one ETF, and up to 5% for Bitcoin.

Yes, you can switch at any time with no additional fees.

Just click 'Edit portfolio' on the Custom Portfolio screen and then tap on the name of the portfolio once you are in editor mode. To save your name, tap on 'Save Allocation'.

If you have already allocated 100% of the weightings for your Custom portfolio (other than the AAA ETF), you will need to reduce them in other holdings before being able to increase any weightings elsewhere.

The risk scale is automatically adjusted based on the weightings and allocations you select for your custom portfolio. If your risk scale is skewed towards the orange (high) side of the slider, it means that your portfolio has a higher level of risk compared to one that is towards the green (low) side.

All the holdings available for Custom are grouped into different asset classes, and each asset class has its own colour. So, any ETFs you see which are the same colour, belong to the same asset class.

If you are already a Raiz user and you are signing up for an SMSF account, you will need to use a different email than your current Raiz account. Unfortunately the accounts will not be combined and you will have to set a unique email and password for the SMSF account. Once you have registered your SMSF account on the webapp and it is approved, you can log into the mobile app and use your Raiz SMSF account as normal.

There are no brokerage, switching, contribution or withdrawal fees. The Raiz Invest platform has a transparent and clear fee structure. The SMSF account fees are identical to the standard Raiz Invest account. The amount of fees you are charged will depend on the portfolio option you choose. Please read theProduct Disclosure Statementfor more details and worked examples.

Our minimum investment is $5.00. Our clients have invested anywhere from $5.00 to over one million dollars into their Raiz accounts.

Yes. Raiz will provide you with a tax statement at the end of the financial year which you can provide to your SMSF accountant or auditor as required. Raiz can also provide a list of all trades for the year associated with your SMSF Raiz account in a .csv file.

Yes. You should talk to your tax and financial advisor to ensure that a Raiz Invest account is suitable for your SMSF investment strategy.

My Finance can help you effortlessly budget and critically analyse where you spend your money by providing personalised tips on how you may be able to save more money.

My Financewill not receive any dataif you only have a funding source linked. This is because linking spending accounts provides consent to us to use transactional data, whilst your funding source may only be linked by using a BSB and Account number for direct debits/credits only.

If you find that some of your transactions are not yet categorised, please access the My Finance section of the app in the menu bar. From there, please select the 'Categorise Transactions' tab, whereby you will then be able to designate your transactions. You can also change the automatic categorisation done by the Raiz App.

If you would like to uncategorise certain transactions, you can do this too. Please access the My Finance section of the app in the menu bar. From there, you will be able to uncategorise certain transactions as you like.

Yes, you can! If you would like a CSV file of your investments to date, please email us oninquire@raizinvest.com.auand we can have our team send you the file. Thank you.

Three tonnes will be offset from every member's carbon footprint for each year they are part of the program. Just 1000 Offsetters will create a carbon reduction equivalent to over 50 cars being taken off Australian roads for an entire year.

You can unsubscribe at any time. To do this, please go to the Home Screen or Side Menu > My Settings > Support > Offsetters Unsubscribe.

Raiz Kids is an investment feature which provides Raiz Invest users the ability to save and invest for your childrenand/or dependents who are under the age of 18. It is a way to teach children and/or dependents about investing andsaving for the long term.

Raiz Kids account(s) are separate to your primary Raiz Invest account and can utilise the same investing features asyour primary Raiz Invest account. Raiz Kids account(s) can have their own portfolio selection, and can makeinvestments using round-ups, recurring investments, one-off investments and cashback invested from eligible RaizRewards purchases.

You will need to have an existing Raiz Invest account before setting up any Raiz Kids account(s).Once you are signed up with Raiz Invest, you can access Raiz Kids by heading to Invest > scroll to Automatic Savingsfor your Child on the home page of the app or webapp.From here, you can create a Raiz Kids account.

Please see the App Guide for details regarding the use and features of Raiz Kids.

You can review your Raiz Kids account(s) balances on the home page or by heading to Invest > scroll to Automatic Savings for your Child. Click or tap on each Raiz Kids account to see more detailed performance information.

To update parental controls, select Invest > Automatic Savings for your Child > Select the child > Settings > Access.

For the introduction of the updated Raiz Kids platform, there is no monthly maintenance fee or account fee. We willemail you a minimum of 30 days before the Raiz Kids feature will start incurring a fee.To see a full breakdown of our fee structure for Raiz Kids accounts, please read the PDS.

When your child turns 18, they can simply take over managing the account for themselves – and all the normalfeatures of a primary Raiz Invest account will then be made available to them such as setting up a savings goal andmaking deposits and withdrawals out of their own funding account.

Yes. The funding account connected for the primary Raiz Invest account will be used for all investment requests inthe Raiz Kids account(s), including one-off investments, recurring investments and automatic round-ups.

Any realised gains or losses through the Raiz Kids account(s) are attributable to your nominated child. Your child willbe treated as holding their portfolio of assets directly when assessed for any tax incurred on their Raiz KidsInvestment Account. Please seek independent tax advice regarding any taxation implications for such transfers.

There can be up to 8 Raiz Kids accounts created at any one time.

Yes, each Raiz Kids account has access to all of our portfolio options. Each Raiz Kids account can have a differentportfolio selection.

Yes, you can close the Raiz Kids accounts at any time by selecting the account within Invest > Automatic Savings foryour Child > Select the Raiz Kids account > Close. The balance will be withdrawn and deposited back to thenominated funding account of the primary Raiz Invest account.

No. Only one funding account can be used for the primary Raiz Invest account and the Raiz Kids account(s)combined.

If you enable notifications for any changes or investments to Raiz Kids account(s), a notification will show in theprimary Raiz Invest account in the notification ‘bell’ icon on the homepage.

Yes, you can transfer between the Raiz Kids account(s) and the primary Raiz Invest account. On the home page, headto ‘Check how your Raiz Kids are doing’ > Select the Raiz Kid account > select ‘Transfer In’ or ‘Transfer Out’.

Savings Goal is a feature within Raiz that allows you to set up a financial goal and keep track on achieving this goal.

This is the predicted date in which you will reach your financial goal based on the current investments being made to your Raiz account. Please note this will change if you change the recurring investment amount and frequency.

No, you can only set up one goal. We wanted to make it simple to focus on hitting one savings goal at a time. You can edit this goal at any time.

We think it’s important to have financial goals. While everyone may have different goals in mind, we strive to help all our users feel in control of getting where they want to be financially. The Savings Goal is a great way to save for something specific and watch your progress as you get closer and closer!

The Common Reporting Standard (CRS) is a new information-gathering and reporting requirement for financial institutions (imposed by the Australian government), to help fight against tax evasion.

The CRS seeks to establish the tax residency of Account Holders. Under the CRS, Financial Institutions such as Raiz are needed to identify Account Holders who are also tax residents outside of Australia and report certain information to the Australian Tax Office (ATO). The ATO may share that information with the tax authority where the Account Holder is also a tax resident.

All financial institutions – that includes banks, insurers and fund management businesses – in Australia are required to be compliant with the CRS.

This will depend on where you live and your circ*mstances. Please contact a professional tax advisor or check theOECD Automatic Exchange Portalfor more information on how to determine yourtax residency, as Raiz cannot give tax advice.

Once we have a valid self-certification on file, you may only be asked to complete another when you update certain information on your account or we believe your reportable status may have changed.

Raiz will respect your data privacy and comply with our stated Privacy Policy and regulations around CRS. We will only disclose your information to the ATO (and other relevant tax authorities if directed by the ATO).

You are legally obliged to provide the information when asked by Raiz. Raiz is obliged to request the information and are obliged to report your investor data (such as account balances and financial income) to the ATO. The ATO will be able to cross reference information provide or not to Raiz with other data sources.

The Raiz partnership with bundll has ceased and is no longer offered to Raiz customers. The bundll product has now closed in Australia from 9 May 2023. For any existing bundll customers, if you have no balance owing on 9 May 2023, your bundll account will be closed. If you have any balances owing, your repayments will continue to be deducted until your balance is $0, after which you bundll account will be closed. For more information, please see: https://www.bundll.com/au/.

Sadly, Raiz Invest Australia Limited and Insurance Australia Limited trading as Insurance 4 That have ended our partnership on 16 April 2023. As a result of this change, Insurance 4 That is unable to offer new policies or renewal of any current Raiz Insure Single Item Insurance policies.For more information about your options for alternative insurance, you can contact the Insurance Council of Australia on 1300 728 228 or access their ‘Find an Insurer’ service at <findaninsurer.com.au>.Should you have any questions, or you would like more information about the information Insurance 4 That relied on in making this decision, please contact Insurance 4 That at https://www.insurance4that.com.au/contactFor existing customers who need to make a claim for an incident that took place during the term of their current policies, please log into the associated Raiz Insure account to lodge a claim online https://www.raizinsure.com.au/signin