Guide to Spend for beta testers

Spend is currently being tested by a small beta group of Sharesies users. You can join the waitlist if you’d like to be one of the first to access it when it’s ready.

To open a Spend account:

You can only have one Spend account.

When you open your Spend account, you’ll set up your first virtual card straight away and can order a physical one at the same time.

You can have up to three cards in total. You can delete an unused card to create a new one.

To add a new card:

You can only have one physical card. If you have fewer than three virtual cards:

If you already have three virtual cards, you’ll need to first delete an unused card or convert one of the cards to a physical card. To convert a virtual card to a physical one:

Once converted, the card number will stay the same, but the card image, expiry date, and security (CVC) code will update. Make sure to update any subscriptions or payments you have linked to the card with these new details.

You can use the new card details for online payments straight away, but for security, you should only activate your physical card in Sharesies when it arrives. They typically take up to 14 days to arrive in the post.

You may be prompted to choose a label when you set up a new card so that it’s easy to recognise in the app. You’ll see this label in your card list, and can change it at any time. It won’t be printed on your physical card.

To edit a card label:

Once your physical card arrives in the post, activate it by:

To update your PIN:

To delete a card:

As part of your Spend account, you’ll be issued your own unique virtual account number that will be linked to your Spend account. You can make one-off or regular deposits directly from your NZ bank account into Spend using your virtual account number.

To view your virtual account number:

A bank transfer can take a few hours on weekdays, or a few days over weekends and public holidays.

For now, your bank can’t check these details. Make sure the account name and number above match in your bank app before topping up.

Please note, the virtual account number is not a bank account - and can currently only be used to top up your Spend account; you cannot directly pay out of this virtual account (except by withdrawing cash from an Automated Teller Machine (ATM), or transferring money into your Sharesies Wallet).

You can also top up your Spend account by transferring settled money from your Sharesies Wallet (here’s how you can top-up your Wallet from your chosen bank account if you need to).

Money needs to settle after you top up your Wallet before you can transfer it to Spend. The time it takes for money to settle varies:

To transfer money from your Wallet to Spend:

You can only transfer New Zealand dollars (NZD) to Spend. Other currencies in your Wallet need to be exchanged to NZD before being transferred to Spend.

If you’ve received money from a gift, referral, or promo as part of Sharesies Invest service, you’ll need to first invest the money, then sell the investment, before transferring the money to Spend.

If you’ve sold an investment recently and want to transfer the money from the sale to Spend, you need to wait at least two business days for the money to settle. This is so there’s time for legal ownership of the shares to transfer from one shareholder to another.

You can use your Spend card anywhere Mastercard debit card transactions are accepted.

Your card number, expiry date, and security (CVC) code are kept in the app.

To view your card details:

You’ll need to activate your physical card in the app before you can use it in stores.

Once you’ve activated it, for your first transaction, insert the card, select CREDIT, and enter your PIN.

For all transactions after the first, you can tap to pay or continue inserting your card and selecting CREDIT.

This is because the Sharesies Debit Mastercard is processed over the credit card network (rather than the domestic EFTPOS network) terminals haven’t been updated with a Debit button.

We're waiving most fees related to the use of the card for the beta, although these may be charged in the future. Please note: if you’re transacting in a foreign currency (either by purchasing from an overseas merchant or shop, or withdrawing from an overseas ATM), the cost you are charged for the foreign currency transaction (or the amount of the foreign currency that you receive), will also include an amount to cover the foreign currency exchange fee we are charged by our foreign exchange provider.

Some merchants may add a surcharge to transactions, and some ATM providers may charge a fee for withdrawals.

To withdraw money from your Spend account, you need to transfer it to your Sharesies Wallet first, or withdraw it at an ATM.

To transfer money from your Spend account to your Sharesies Wallet:

You can use money transferred from Spend to your Wallet immediately to invest. Withdrawing money from a Sharesies Wallet may take up to 1-2 business days (or longer if we need more info from you) to land in your bank account.

You can withdraw money from your physical Spend card using any ATM that accepts Mastercard. You’ll need to select CREDIT after inserting your card and follow the prompts to make a withdrawal.

Sharesies doesn’t currently charge a fee for withdrawing money from an ATM, but some ATM providers may charge their own fee. If Sharesies introduces ATM fees in the future, we’ll let you know. Please note: if you’re transacting in a foreign currency (either by purchasing from an overseas merchant or shop, or withdrawing from an overseas ATM), the cost you are charged for the foreign currency transaction (or the amount of the foreign currency that you receive), will also include an amount to cover the foreign currency exchange fee we are charged by our foreign exchange provider.

Spend doesn’t support direct debit payments or transfers to external bank accounts.

If you still have money in your Spend account, you’ll need to transfer the remaining balance into your Wallet before it can be closed.

To close your Spend account:

Once closed, your Spend account and any cards attached to it will no longer be active or available in the app.

Spend cards don’t have a card number, expiry date, or security (CVC) code printed or displayed on them. These details are stored in the Sharesies app so that only you can access them, which helps protect your information if your card is lost or stolen.

You can temporarily freeze a card in the app. Please freeze your card in-app and let us know immediately if it’s lost or stolen, or if you know or suspect that:

You can see a history of your transactions in-app. If you don’t recognise a transaction or think there may be errors, or something suspicious with a payment (or you want to dispute a transaction), freeze your card in-app and let us know immediately.

To freeze or unfreeze your card:

Sharesies may also freeze or suspend your card or your Spend account (or both) if the activity on, or use of, your Card or account appears suspicious, fraudulent or illegal. We’ll let you know if we do and what to do next.

You can turn the following card features on or off in-app for extra security:

To manage your card security controls:

Need a hand? You can always reach us by sending us a quick message in the app or via chat, or emailing help@sharesies.co.nz.