How do I withdraw from my Raiz account?
From the home screen tap on invest, where you'll then see two buttons at the top of the screen, one to deposit and one to withdraw. You can withdraw through the app at any time without penalty, however the withdrawal may not be actioned until the next business day by Raiz. The minimum investment is $5.
Due to the rules of buying and selling shares on the ASX, it takes 2 business daysfor us to receive payment for your withdrawal. Once received, Raiz transfers the withdrawal amount straight to your chosen funding source, which can take 1-3 business days depending on your bank.
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.
When your round-ups hit your round-up threshold, we'll withdraw it from your bank account and invest it for you. Your new shares will then appear in your Raiz account, where you can watch them potentially grow over time.
For a savings goal that is short term (less than three years), a conservative portfolio option is probably the best choice. A conservative portfolio option will be less influenced by equity market fluctuations.
Yes, you can request to close your Raiz account anytime through the app. Click on the Menu button, go to My Settings > Support > Close Account. Your Funding Account and Spending Account will be unlinked, and your remaining balance, if any, will be transferred to your Withdrawal Account.
Very effective. Raiz rounds ups as little as $0.01 on a $0.99 purchase, up to as much as $1.00 from a flat $10 purchase. So, if you make four transactions per day, rounding up an average of 50 cents each time, that will work out to $730 per year! And the best bit – you won't even notice it.
There are so many Financial Technology companies (FinTechs) out there that seem to be targeting the same audience. Unlike any of them, Raiz invest has actually carved out a very nice niche in the space to attract users and it's definitely something worth exploring.
RAIZ have you invest in a mix of ETFs that are preselected or cusotmised to your chooosing. Spaceship is like a managed fund where the team pick stocks actively and you just invest in that. CommSec pockets is more DIY where you select the specific ETF and how much exactly you want.
I have been using Raiz for over a year. I have found it a very helpful way to save money. Over the first year I used the app, I have managed to save a few thousand dollars. I use both the round up function, recurring investments and also Raiz Rewards.
Does Raiz pay dividends?
Every Raiz portfolio receives dividends, some quarterly, some half yearly, and most months the AAA ETF pays interest income as a dividend.
- Automate your Savings Goal.
- Check out 'Uncategorised' tab in My Finance.
- Do your normal shopping through Raiz Rewards.
- Get to know your finances instantly with Ashlee, the Raiz Chatbot.
- Personal Contributions to Raiz Invest Super.
Raiz Invest Super runs the same portfolios as your Raiz Investment Account, offering you the choice of 6 portfolios, running from conservative (least risky) and aggressive (most risky) + Emerald – please refer to the PDS for more information or our FAQs on portfolios NOTE: Your Raiz Invest Super account can have a ...
The Emerald portfolio is our ESG option that assists in matching investments with personal values. It provides investors exposure to large ESG Australian and Global companies, with top holdings primarily including technology and health companies. For more information on Raiz fees, click here.
The new portfolio, called Sapphire, has taken 18 months to develop, and has been specifically designed to meet growing customer appetite for exposure to the alternative asset class of cryptocurrency.
It charges no brokerage fee and instead uses a monthly fee model. With Raiz, you are charged $3.50 per month in fees if your account holds $15,000 or less or 0.275% a year in fees per year on balances more than $15,000.
When you deposit money into your Raiz account, Raiz uses the funds to buy ETFs on your behalf. But those ETF units are not held by you, nor are they held by Raiz. Instead, they're held by an independent custodian: a third party who holds the legal title to the investments on behalf of investors.
- Best app for automated investing: Betterment.
- Best app for micro-investing: Acorns.
- Best app for active investing: Robinhood.
- Best app for active investing and saving for retirement: Webull.
- Best app for couples investing together: Twine.
Micro-investing apps like Raiz and Stocklight mean you can trade with just $1. Anyone with a normal job who wants to get rich in Australia can use this new way to make money, starting out with as little as $1.
If you want to get started on your investing journey and want to start small and don't have the knowledge or time to pick stocks then Raiz is definitely worth it. If you also don't want to think much about your investments, but want quick access to see how they are going this is a great platform.
What are the fees for Raiz?
With Raiz, you are charged $3.50 per month in fees if your account holds $15,000 or less or 0.275% a year in fees per year on balances more than $15,000. So, if your balance was $1,500, you'd be charged $42 a year, regardless of how many investments you make a month or how often you switch portfolios.
Raiz is an automated investment service that rounds up each transaction from your Debit Card to the nearest Ringgit and invests the change into a unit trust portfolio based on your financial situation and goals.
