Sharesies Spend is currently in beta and Investback is not visible in the Sharesies app just yet.
To access Sharesies Spend before we roll out to everyone, you’ll first need to register your interest and be invited to early access.
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.
The Investback reward is not currently live in the app, but you will start earning on eligible transactions as soon as you start using your Card. When it is live in the app:
any earnings you may have accrued so far will be visible in the app and they will at that time be invested into a nominated investment on the Sharesies app;
earnings can be tracked over time in the Portfolio.
As a condition of having a Spend account and using the Spend service you automatically instruct Sharesies to invest your Investback earnings into the nominated investment(s).
Our intention is for our customers to have choice over the Investback earnings and the investments that can be invested in.
The 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 nominated 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 nominated investment, or make other changes to the Investback reward, from time to time.
The Spend Terms and Conditions apply.
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.