By law, Kernel Wealth is required to know who its customers are and how they plan to interact with Kernel as a business. As Kernel Wealth is a wealth platform designed to help New Zealanders with building their financial future, we ask you to confirm that the main purpose of your Kernel account is wealth accumulation for the long term.
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This doesn’t mean you can’t change your mind or withdraw money, it means you don’t plan to treat us like a bank and have a high number of withdrawals. This does not include buying and selling of funds or transfers to and from Kernel Save.
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Therefore the nature of your relationship with Kernel means withdrawals to your bank account will be infrequent. We have designed our systems accordingly, including only allowing withdrawals to be sent to New Zealand bank accounts which we have received deposits from.

We expect most customers to be able to check “Yes” to the question in our setup process, but if your circumstances are unique and you need to check “No”, we require you to help us understand how you plan to use your Kernel account.

Should you have any questions, please contact our Customer Success team at support@kernelwealth.co.nz or 0800 KERNEL (0800 537 635)