Annual account fee
The annual account fee is charged once per year to help cover the cost of running your Spend account and card. It’s automatically deducted from your Spend balance.
When you open a Spend account, you'll receive a 30-day fee-free period on the annual account fee. After that, the annual account fee will be charged on its due date each year. We’ll give you a heads up before this fee is due.
The annual fee for your Spend account is:
$25 per year or;
$12 per year if you’re on a Sharesies plan.
If you received a discount on the annual account fee by having a monthly Sharesies plan, and you then cancel that plan, you may be charged the difference between the full annual account fee ($25) and the discounted account fee that you paid ($12), e.g. $13.
If there aren’t enough funds in your Spend account to cover the account fee, it could go into a negative balance. If your account has a negative balance, you’ll need to repay the amount owing to us. If you top up or receive money into your Spend account, we’ll use some of this money (or all, as relevant) as payment against your negative balance.
Replacement physical card fee
Your first physical card is free. After that, a replacement physical card costs $15.
You won’t be charged for replacement cards that are reissued due to expiry.
ATM withdrawal fees
You get 3 free ATM withdrawals each month. After that, you’ll be charged $5 per withdrawal. This applies whether you withdraw cash in New Zealand or overseas.
Separate to our fee, some ATM providers may also charge you their own fee for using their services.
Currency exchange fee
If you make a transaction in a currency that isn’t your home currency, an FX fee will apply.
A 0.5% currency exchange fee applies on foreign currency transactions (in-person or online).
The currency exchange fee is calculated on the amount to exchange, and charged on top of the amount that is exchanged.
Disputes and chargebacks fee
If you spot a charge on your Spend card that doesn’t look right, you can ask Sharesies to help you dispute the transaction. We’ll investigate, and we may request a chargeback (that’s when we ask the merchant’s bank to return the money on your behalf).
A chargeback fee of $35–$70 may apply if the chargeback is unsuccessful. This fee is only charged where following review of a dispute it’s established that the transaction or charge should remain, or if you have acted fraudulently or negligently.
Merchant surcharge
Some merchants may charge a merchant surcharge, which is a percentage of the transaction value—typically 1.5%-2.5%.
You may also be charged processing fees by third parties (for example, ATMs or banks) for cash withdrawals or purchases using your Spend card.
Spend fees and the Investback earn rate are subject to change.
We also earn interest from any money in your Spend account.