What is Stockspot Savings?
Stockspot Savings is an alternative to a high interest savings account and designed for cash savings you may need for shorter term goals, or for money you don’t want to invest in your Stockspot Portfolio. It is not a bank account, rather a higher interest earning Cash ETF that you can invest in as a better way to save for shorter-term goals. Our current cash ETF is the BetaShares Australian High Interest Cash ETF (AAA).
Who is it suitable for?
Activating your Stockspot Savings account is optional. Stockspot Savings can be suitable for clients who would like a place to park funds that may be needed in the shorter term (3 years or less).
Are there any fees with Stockspot Savings?
Stockspot doesn’t charge any additional fees for Stockspot Savings. The interest rate you see is what you get. The ETF issuer charges a management fee of 0.18% p.a. (this comes directly out of the ETF unit price and is already deducted from the current Savings rate).
Refer to the Stockspot Savings Fact Sheet for more information.
Minimum investment amount?
Stockspot Savings has a low minimum balance of $2,000 and minimum top-up amount of $500.
How do I activate and deposit into Stockspot Savings?
You can activate Stockspot Savings via your dashboard. We’ll send you an email to let you know when it’s active. Once active, select either Stockspot Savings or Stockspot Portfolio as your destination account for new deposits via the Deposit Money section of the dashboard.
You can also transfer money between Stockspot Savings and your Stockspot Portfolio via the Transfer Money section of the dashboard.
You can find out more about how Stockspot Savings works here.