Round-ups (Automatic vs. Manual)
When you register for an Raiz account, you can choose whether you want Automatic Round-ups turned on (the default) or if you want to manually approve round-ups on your transactions. With Automatic Round-ups turned on, the app will monitor your spending and automatically approve and invest your round-ups for you. With Automatic Round-ups turned off, you must manually approve each round-up to be invested.
To enable or disable automatic round-ups, go to:
- Main Menu
- Select or deselect Automatic Round-ups. A green circle means Automatic Round-ups are enabled.
If Automatic Round-ups are disabled, you can choose to manually round-up your transactions. Simply go to the Round-ups screen and select the + symbol next to each round-up transaction you’d like to invest.
Please note that both automatic and manual round-ups have a minimum threshold of $5, which must be crossed before they are invested. Once your round-ups cross this threshold, Raiz initiates the investment, and the transaction will be shown as pending on the History screen. Please allow 1-3 business days for investments to be processed.
If Automatic Round-ups are turned on, then your round-ups will be automatically approved and invested, and an acorn will show next to each transaction. If Automatic Round-ups are not turned on, your round-ups are on manual mode. In this mode, transactions with a + sign next to them can be rounded up with a tap. Pending transactions, or those that have not yet been settled with your bank or credit provider, will display a clock symbol next to them. These transactions are not yet available to be rounded up. Cashback is highlighted in green and can be invested with a tap.
Whole Dollar Round-ups
The app’s default behavior is to round up all transactions to the next dollar. When you make an even whole dollar transaction, such as spending $25.00 at a movie theater, the app will round up $1.00 for you (or allow you to round up $1.00 if you don’t have Automatic Round-ups turned on). If you wish to decrease the amount that is rounded up on whole dollar transactions, please follow the instructions below to configure it to any sub-dollar amount, even $0.00.
To adjust Whole Dollar Round-ups, go to:
- Main Menu
- Tap the gear icon in the top right corner of the Accounts page. Drag the slider to choose a set amount that actually gets invested when you have a whole dollar transaction.
Linking and Unlinking Spending Accounts for Round-ups
To link or unlink your credit or debit card as a Spending Account to be monitored for Round-ups, go to:
- Main Menu
- To link a new Spending Account, tap Add Spending Account and follow the prompts on the following screens. For further instructions, see our Registration Guide.
- To select additional Spending Accounts to monitor for round-ups (effectively turning them on for round-ups), tap the plus signs next to the sub-accounts that you wish to use for round-ups. These will usually be the bank accounts that you often use for purchases. Some accounts with infrequent activity may not show any round-ups once they are activated. Once you have selected a bank account for round-ups, its plus sign will turn into a green circle with a check mark in it.
- To deselect Spending Accounts so that they will not be used for round-ups, simply tap their green circles with check marks, which will turn back into plus signs.
- To unlink an entire Bank Account and therefore all of its Spending Accounts, tap Unlink next to the bank or credit provider name.
The first value on this screen is your account value. This is the same value displayed on your Home Screen. The dollar and percentage values below it, however, represent the change in value of your portfolio’s ETF positions (not your account value) since the closing prices of the last market day. This change is different than the change shown on the Home Screen because the Home Screen reflects deposits, withdrawals and dividends, while the Positions Screen does not.
The lower portion of the Positions Screen displays the 7 ETFs that make up your portfolio. You can tap on the $, %, and Shares tabs to view, respectively, the value, percentage of your portfolio, and total number of shares you own for each of the 7 ETFs. Tap on a fund to access its information and historical performance.
To view featured holdings of the ETF, swipe left on the lower portion of this screen.
There are many more holdings in each ETF than what is listed on this screen. For more information please visit the individual ETFs prospectuses.
Raiz offers 5 different portfolios, each comprised of varying allocations of the same 7 ETFs based on different degrees of risk. You can change your portfolio at any time. You might consider changing your portfolio if your investment goals, time horizon, preferred level of risk, or other factors change.
Change your portfolio at any time by going to:
- Main Menu
- Tap one of the 5 different selectable circles, each representing a different portfolio.
- Once you have decided on a portfolio, confirm this change by selecting Change Portfolio.
When you deposit into your Raiz account, each deposit is invested into these 7 ETFs proportionally to your target allocation. If your portfolio gets out of balance due to market movements, your deposits are only invested into the ETFs that are underrepresented relative to your target allocation. Additionally, if your account gets far enough out of balance, Raiz will automatically rebalance your positions by selling and/or purchasing shares or fractional shares of the 7 ETFs, to bring them back in line with your target allocation. A rebalancing will generally occur when you change your portfolio.
The History screen of the app has two tabs: Pending and Processed.
The Pending tab shows account transactions that have not been processed. These can include “buy” (deposit) and “sell” (withdrawal) orders. You can cancel transactions that are pending, unless a lock appears next to the investment. Simply swipe a pending transaction and press "Cancel." Please note that if the "Cancel" button does not appear, your investment is being processed and can no longer be canceled.
Keep in mind that deposits to your Raiz account take 1-3 business days to process, and withdrawals take 5-7 business days to process into your bank account. Withdrawals take an extra few days because industry regulations require a 3-day settlement period after investments are sold before the money can be transferred out of an investment account. If you have changed your funding source (bank account) in the last 60 days, it may take longer to verify the transaction and receive your withdrawal.