Round-ups are the most popular saving and investing feature at Raiz, with more than 230,000 Raiz customers using round-ups to boost their saving and investing.
For those not in the know about round-ups, let’s get you up to speed.
What are Round-Ups?
Round-ups are the virtual spare change from your purchases that get automatically invested on your behalf. As an example, if you buy a coffee for $3.50 and you have activated round-ups, your $0.50 virtual spare change will be invested into your Raiz account. Lunch cost $9.90 today? Then $0.10 is destined for your portfolio using the power of round-ups. The purchases can be in person or online. It all counts!
Round-Ups are automatic
Every time you spend, you could also be investing! Whenever or wherever you make a purchase using one of your linked spending accounts, Raiz keeps track of the amount. Once your round-ups reach $5 (or an amount of your choosing when you use Smart Round-Ups), your Raiz account automatically debits your account and invests this amount for you.
Link as many spending accounts as you like
If your debit card, credit card, credit union, or bank account is on the long list of compatible spending account partners, then you can round up with any or all of them!
However you choose to pay, round-up away!
Whether you choose to use debit or credit, apple pay, Pay Pass or good old-fashioned stick the card in EFTPOS machine, you may take advantage of round-ups at Raiz.
How do I activate Round-ups?
1 – Click Invest
2- Click Round-Ups
3- Click Round-Up settings Cog
4 – Click Settings Cog
5 – Activate Auto Round-Ups
What are Smart Round-Ups?
Smart Round-ups means you can override the $5 automatic round-up amount determined by Raiz, and choose from either $5, $10, $20 or $40 to be your preferred amount when your round-up funds will be invested (See icon 1 below).
What are Whole Dollar Round-Ups?
What about those purchases where they are an exact dollar amount (say $4.00)? Is this still an opportunity to round-up and invest? YES! All you have to do is select an amount in Whole Dollar round-ups between $0.00 and $1.00 to invest every time a transaction is on the whole dollar. Next time you pay $40.00 for popcorn and Coke at the movies 😬 you can know that you are still investing the amount of your choosing (See icon 2 above).
Round-Ups can help you reach your goals
Round-ups are a great way to boost your Raiz account. You can even think of it like tipping yourself to continually save and invest. Whether you are new to investing or are a regular Warren Buffett, round-ups can work for you to help you reach your saving and investing goals.
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We are not allowed, and have not prepared this information to offer financial product advice or a recommendation in relation to any investments or securities. If we did give you personal advice, which we did not, then the use of the Raiz App would be a lot more expensive than the current pricing – sorry but true. You therefore should not rely on this information to make investment decisions, because it was not about you for once, and unfortunately, we cannot advise you on who or what you can rely on – again sorry.
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