$10 Referral Bonus after First Investment (Was $5) (New Members Only) @ Raiz Investment App

81

Go to Deal

beeawwb on 01/03/2021 - 02:26 raizinvest.com.au (123 clicks)
Last edited 09/03/2021 - 17:37 by 2 other users

Posting as the current offer is an increase of the previous referral amount (usually $5) - I can’t find any information on when this deal started, it’s not in the Raiz blog, but I’ve confirmed it’s listed in the app with $10 referrals.

My assumption is that this will be a limited time offer for the month of March, as the previous time this was offered was for the month of September.

How Raiz Works

Raiz is a micro-investing app that works by allowing you to start investing with as little as $5. Users can invest into their Raiz account through round ups, recurring investments, and lump sum deposits.

Money in your Raiz Investment Account is invested into a mix of exchange traded funds (ETFs) in accordance with one of six different Portfolios selected by you. Raiz provides Australians access to start early, invest often and reach their financial goals.

More Information
https://raizinvest.com.au/blog/how-raiz-works/

Fees
https://raizinvest.com.au/fees/

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Raiz

• 

  leetguy101 on 01/03/2021 - 06:59

  +8

  Insane fees

  • 

    clx on 01/03/2021 - 07:29

    +1

    Yep. A fair bit higher than Spaceship - nearly triple. Don't know how they justify it.

    • 

      toniyellow on 01/03/2021 - 09:43

      +5

      It's actually even higher than that

      Spaceship has only the management fee - no underlying fees - because they buy directly, they don't use ETFs

      Raiz on top of the management fee you also have the underlying fees (MER) of the ETFs in the portfolios, which are passed on as well as transaction costs, operational costs, netting spread and 'other costs' are all passed on, on top of the management fee- https://raizinvest.com.au/product-disclosure-statement/

      I can't understand how this is popular at all, good marketing I guess.

      • 

        capslock janitor on 31/03/2021 - 22:42

        -1

        Raiz fees get blown way out of proportion.

        Spaceship only distributes income once a year (and higher risk). With only two portfolios.
        Raiz has more choice but with 3.50 a month in fees, though tax deductible. And pays dividends throughout the year.

        (It's probably not worth it if you maintain a balance of 100. Get your balance high as quickly as you can. Only add money you won't need for a few years.
        It also has roundups and rewards)'

        There are some questions about Spaceship's transparency, and there's a clause about it's discretion to withhold dividends or something…to do with they owning the shares, rather than the user? I'd read their PDS before signing up :)

      • 

        capslock janitor on 01/04/2021 - 11:29

        Why the neg?

• 

  Diji1 on 01/03/2021 - 08:12

  +1

  Another investment app for idiots.

  You know what they say about fools and money.

• 

  hanger7 on 01/03/2021 - 08:49

  Especially when FOMO is concerned…

• 

  abc on 01/03/2021 - 08:55

  I’m assuming you have to click on the referral links and not the deal link?

  Have the referral codes changed?

  • 

    capslock janitor on 31/03/2021 - 22:08

    It seems the links are different now, but codes are same

• 

  Edamamme on 01/03/2021 - 08:58

  +10

  Email from Raiz this morning**

  ‘From 1 April 2021 the monthly maintenance fee will increase to $3.50 for active account balances of less than $15,000. For accounts with balances equal to or greater than $15,000, the account fee remains the same at 0.275% a year.

  For the Sapphire Portfolio, the monthly maintenance fee will increase to $3.50 for active account balances.

  There is no fee change for the Custom Portfolio, which launched in January this year.’

  • 

    King Steuart on 01/03/2021 - 09:17

    So $10 for a $15000+ invest, sign me up

  • 

    beeawwb on 01/03/2021 - 09:20

    Yeah, just got the email as well. Can't help but wonder if this increased referral is an attempt to distract from the news.

    • 

      Edamamme on 01/03/2021 - 09:27

      Most definitely used to soften the blow, as they run these promotions anyway so it makes sense to line them up I’m guessing.

• 

  samfisher5986 on 01/03/2021 - 09:51

  +4

  Raiz is not an investment app in my opinion, its a place to hold your money while they sting you with fees while getting you to use their Cash Rewards system and survey system for both their profit and yours and so you don't realise that their investment platform makes no money at all and how bad the fees are, which are basically hidden by the surveys/cash rewards.

• 

  FreddyMerc on 02/03/2021 - 22:36

  My referral bonus is still coming in at $5

  • 

    capslock janitor on 31/03/2021 - 22:08

    Did you email them about it?