This month we’re giving you the chance to win one of ten $50 bonuses invested into your Raiz account! Simply have ‘Raiz Kids’ enabled with at least one child before July 31st to be eligible for your chance to win. T&Cs here
Not familiar with Raiz Kids? We’ve got you covered with some frequently asked questions below
How does Raiz Kids work?
Raiz Kids uses your pre-existing Raiz account to automatically save for kids. In the Raiz Kids section of the app, you can select the portion of your balance that you want to go towards your Raiz Kids once they’ve turned 18. You can change the portion that goes to your Raiz Kids (via the Slider) at any time. Raiz Kids will then equally split that among the kids you have added.
For example, if you have selected 50% of your total balance to go towards your Raiz Kids and your balance is $1000, then $500 of it will go towards your Raiz Kids goal.
If you then put in a $10 recurring deposit, 50% of this ($5) will also go towards your Raiz Kids goal. This can be changed or removed at any time.
Essentially, as your Raiz balance changes in value, your Raiz Kids balance will be adjusted to reflect the portion you have selected.
What happens when they turn 18?
Once your Raiz Kids reach the age of 18, they are then able to open their own Raiz Account, with the option of having the funds transferred into their account. Otherwise, the funds will remain within your account until you request a transfer.
Can I remove my Raiz Kids?
Yes, you are able to edit and remove your Raiz Kids at anytime. Then your balance will then recalculate equally across any remaining Raiz Kids.
Can I still withdraw my balance if it is split into Raiz Kids?
Yes, the balance will withdraw equally among the partitioned amount. For example, if 15% of your total balance is split to go into Raiz Kids, and you wish to withdraw $100, then $15 of that will come from the Raiz Kids goals.
When will I know if I’ve won?
The ten winners will be notified by email when the credit investments will be deposited into their Raiz account, by Friday, 16th August 2019.
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.
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Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.
Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.