• expired

$10 AUD off Company Share Gift Cards off (~ $16 AUD) $12 USD + $6 USD Flat Fee + Other Fees @ Stake

210
SANTARALLY

Never posted here but it seems like I've found a good deal (free money is always a good deal) - not sure how long it is until they figure it out and close the loophole. Got a marketting email about this earlier today;

CODE: SANTARALLY

stake are offering 10 AUD off gift cards. So…

  • 10 USD gift card costs 10 USD (actual value of shares) + 5.99 USD (flat fee for gift cards) + 0.07 USD (conversion) + 1 USD (2% credit card fee or 1 USD minimum).
  • That's 22.66 AUD in total (@ the time of writing - this might change a bit).
  • But if you take off 10 AUD that's 12.66 AUD
  • For which you get 13.29 AUD worth of shares (for 12.66, which is an instant profit of ~5%)

So this doesn't scale with value - the 2% card fee + 0.7% conversion fee makes it unprofitable at values above 37 USD - but if you are willing to make a tonne of small purchases and then sell up (or if you happen to want to invest in US shares) then you can actually make money.

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closed Comments

  • Comes up with “error” when I enter the code on a US$10 gift card order

  • I've actually only tried it with 37 USD transactions so far (testing it out)… the calculations above were based on the highest possible profit margin (since 10 USD is the minimum gift card).

  • Sounds simple - NOT !!

  • Yeah.. seems to error @ 10 USD, works @ 20 USD

  • They allow the code only for txns US$12 or higher. So that negates any benefit to buying gift cards after paying the brokerage and gift fees. They also offer free brokerage via a multitude of other online promos anyway. So this is just a lot more work to achieve the same outcome.

    How can you even truly own a fraction of a share anyway? Aren’t you just buying a share of a share then? Thus you basically have no control over that share? Seems super dodgy to me.

    • No… 12 USD minimum just drops the profit a bit (to about 3% at the current exchange rate).

      At this precise moment I could buy 12 USD (15.94 AUD) worth of shares for 15.47 AUD.

  • 5mins work @ $0.45 profit is $5.40/hr (at best). False economy. You'd make more profit buying and re-selling off Amex statement credit offers. Nothing to see here lol.

    • It's similar to those surveys you have to do for a few bucks at a time.

    • This is a fair call. Obviously I was on the email list because I already use stake (and happened to be planning to purchase a lot of shares today anyway). I don't think it takes 5mins per transaction - but I guess this varies person to person… also, give cards can be purchased with credit cards - so I'm getting FF point too.

      • Looking at this again, my comment was overly cynical. I assumed you might have been trying to advertise this service (with such a marginal saving). Anyway it’s not terrible, just not super practical haha. Congrats on your first deal post and keep posting. It’s what sets this community apart from the fake “bargain” sites.

      • FF points FTW, if you could be bothered churning enough through a card which earns points for the transactions and doesn't charge you international transaction fees (e.g. ANZ Rewards Travel), potentially adds a bit to the deal - it's essentially free FF points even if you're just breaking even on the cash front.

  • Use zippay to avoid credit card fee… I did it this morning and save further $3. Just don't forget to pay the zippay before the due date.

    • Thanks for sharing the deal this morning Mr member since 2012 with no posts. /s

      • Not sure why i got your /s … I simply shared my experience, Mr member since 2014 with 40 post…

  • So can you buy multiple "gift cards" and "gift" them to yourself under the one account?

  • +3 votes

    SANTARALLY anagram for SATAN LLYAR

  • I like this kind of deal, teaching people how to arbitrage from financial instruments.

  • This is not expired yet (code is still valid, not sure until when from the email I received).