You can make a FX transfer of NZ dollars into USD on Stake. You'll get direct access and visibility to the spot FX rate with full transparency of any fees.
You can make bank transfers inside Stake (using POLi) and funds go directly into your brokerage account. You can fund and be investing in the stock market on the same day.
When you fund your account you can choose the speed (express or regular) you want it in your brokerage account. With express funding, you're funds will be in your account and ready to be invested just a few hours later.
Getting Free Stock
When you fund your account for the first time on Stake, you’ll get a free stock of Nike, Dropbox or GoPro. All you need to do is fund within 24 hours of your account opening. Simple as that.
Read on for the ways to fund your account and get into the market (and get that free stock).
Bank transfers with POLi
All transfers of NZD to USD to your brokerage account are made via POLi.
When using POLi you are safely logging into your bank account to make a your bank transfer directly from Stake. All your security features of your bank account apply, including second-factor authentication and any transaction limits you have set up.
With POLi a pop-up will appear that asks you for your bank credentials and pre-populates the payment form for you to make a direct transfer to Stake with NZForex (the NZ arm of OFX) who then moves your money to your USD trading account.
As you are securely accessing your bank, if you have second-factor authentication set up at your bank you will be required to confirm your transfer - this adds another layer of security to your transaction. Similarly, any limits set up at your bank will apply.
You should check this with your bank if you run into any issues.
POLi is an Australia Post company that allows you to access your regular bank and savings account from Stake's website. POLi is able to provide consumers a convenient and affordable method of payment by simply accessing their original bank site via the POLi servers.
It is widely recognised and used at many notable companies including Air New Zealand, Qantas, Facebook, Virgin Australia, Emirates, Victoria's Secret and more.