How Investback works
When you use our Spend service, you earn 1% back of the amount you spend on any eligible transaction, invested weekly. For example, that’s $1 invested for every $100 you spend using your Sharesies Debit Mastercard, with no caps or minimums on the amount you could earn.
As you spend, we track your earnings and show an overview in your Spend account. Your earnings are automatically invested into your nominated investment on a weekly basis, and you’ll be able to track them over time in your Portfolio.
Choose where your earnings are invested
When you set up your Spend account, you’ll be prompted in the sign-up process to choose a company or fund that you’d like your earnings to be invested in.
You can choose from over 8,000 companies and funds across US, Australia, and NZ exchanges available through Sharesies’ Invest service. Or, you can choose for your Investback earnings to be invested into:
your Sharesies KiwiSaver Scheme account (if you have one)
a Sharesies advised portfolio (if you have one); or
the default nominated investment—Smart Global ESG ETF.
You can change your Investback selection at any time.
Investback earnings used in the Sharesies KiwiSaver Scheme will be made and treated as voluntary contributions to your KiwiSaver account and will be subject to the applicable KiwiSaver rules, including restrictions on withdrawals until you’re 65, or for a limited range of other reasons.
The default nominated investment for Investback is not a recommendation or opinion by Sharesies Financial Limited or any other Sharesies entity as to whether or not the investment is a good investment or suitable for any particular purpose or investor. Sharesies Financial Limited does not provide advice or recommendations. Once made, the value of your investment may go up or down.
We may change the Investback earn rate, the default nominated investment, or make other changes to the Investback reward, from time to time.
Change where your earnings are invested
To edit your Investback selection:
go to Portfolio > Spend
tap ‘View details’ next to ‘Investback’
Tap ‘Edit’ next to ‘Investback choice’ and follow the prompts.
Track your Investback earnings
You can see your Investback earnings in the app by heading to Portfolio > Spend > Investback.
If you’re currently earning Investback (or have earned Investback at any stage), you’ll see three numbers in your Investback overview:
the amount of potential earnings in your current earning period
the amount you earned in your previous earning period (last time)
the sum of all your current and previous earnings (all time).
All amounts of earnings are estimated, until they have been reviewed for eligibility.
There isn’t currently a way to see your earnings broken down by each individual purchase, or detailed Investback reporting. If you’d like to look through your spending activity more broadly, you can still check your general transaction history by going to Portfolio > Spend and scrolling down to ‘Transactions’.
If you think the amount of your Investback earnings may be incorrect, it may be best to wait until the end of your current earning period, to give time for your transactions to be processed and assessed for eligibility.
It can sometimes take a few days for a transaction to clear and be included in your Investback earnings.
You will not pay a brokerage transaction fee or currency exchange fee on Investback orders under the Invest Service, and if you’re on a Sharesies plan it will not count towards your plan’s coverage. For any advised portfolio(s), your portfolio fee will continue to apply. All usual fees and charges under the Sharesies KiwiSaver Scheme will apply to any order placed using Investback earnings and orders will be consistent with your existing Investment Plan.
What purchases are eligible to earn the 1% Investback
Most of the payments you make with your Card will be eligible to accrue Investback earnings. We reserve the right to determine eligibility, as well as change or waive the eligibility criteria from time to time. The following transactions are not eligible to accrue earnings (this is a representative, rather than an exhaustive list):
top ups of your Account;
withdrawals from your Account (for example, withdrawing cash from an ATM using your Card, or transferring money into your Sharesies Wallet);
any gaming, gambling or betting transactions (including lotteries, prize draws, casino gaming, off-track betting, syndicates and wagers);
purchase of cash-substitutes (like travellers’ or bank cheques), or use of money transfer or remittance services;
any transaction that we reasonably believe is for a business use or purpose (and not for your own personal use);
purchases of cryptocurrencies or other cryptoassets;
any transaction that we reasonably believe is likely to breach (or has breached) the Spend Terms and Conditions, applicable law, or any other relevant laws and regulations in any other country, or any applicable limits;
any transaction you have received a refund for, for example as part of the disputes process set out in the Spend Terms and Conditions;
any other transaction that we do not believe meets our criteria for fair use of the Investback reward.
The Spend Terms and Conditions apply.