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How do I deposit money into my Kernel wallet?

The wallet is used to move money into Funds or SmartSaver. This can't be used for KiwiSaver contributions.

Lovelyn avatar
Written by Lovelyn
Updated this week

To deposit money into your Kernel wallet, simply follow the steps below:

Step 1. Open two separate web browsers - log in to your Kernel account on one, and log into your internet banking on another.

Step 2. Navigate to the web browser with the Kernel platform. Locate the 'Wallet' widget on the 'Overview' page. Click on the 'Top-up' icon within the Wallet widget.

Step 3. Select the 'Deposit to Kernel Wallet' option.

Step 4. Select the method you're using to make a deposit.

You can choose between:

  1. The registered payee option - this mean you're simply searching Kernel's saved payee details through your bank app.
    Kernel's registered payee name: Kernel - Adminis Custodial Nominees Ltd

  2. The option to create a payee - this mean you're manually entering our bank details into bank app.

    Bank account name: Adminis Custodial Nominees Ltd - Client Trust Acc Kernel Wealth

    Bank account number: 02-0536-0225283-000

Both options on your screen will show your unique reference that must be used in the 'Reference' field of your payment.

Step 5. Navigate to your internet banking and make a payment using your method of choice.

Step 6. Paste your unique reference code from the Kernel browser into the Reference field for Kernel's statement details.

Please note: Not using your unique reference code will result in delays with your deposit. Missing or incorrect reference details prevent the system from automatically matching the funds to your account, causing delays and requiring manual intervention.

Step 7: Complete the deposit payment.

If this is your first deposit from a new bank account, it will take 1-2 business days to process. All other deposits should clear into your wallet within a few hours, as long as you've used the correct reference. Deposits for existing clients may also clear faster if all payment details are entered correctly, but the standard processing time remains 1-2 business days.

Common Delays and Troubleshooting

A common reason for delays in processing deposits is the absence or incorrect use of the unique reference code. The system uses this code for automatic processing, and without it, manual review is required, which can extend the processing time. To avoid such delays, double-check your reference code details before making the payment.

Additional Tips

  • Ensure your nominated bank account is correctly linked to your Kernel wallet to avoid potential issues.

  • Check with your bank if deposits take longer than the usual 1-2 business days, as inter-bank transfer timings can vary. These tips will help ensure smooth and timely deposits into your Kernel wallet.

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