Here’s how you can pay for your trades with Goodments. 

Your Goodments Wallet

Your very own personal bank account set up in your name with your own BSB and Account number. It is the most cost-effective way to fund your trades, but depending on your bank it can take up to 3 days to transfer the money into the Wallet. Your Wallet is also the place where you receive any withdrawals made from your US Trading account. 

To use the Wallet, simply set up a regular, or one-off transfer from any of your other bank accounts into your Goodments account for free.  Your balance will then appear in the Goodments app, ready for you to use for investing. Select the Wallet at Check Out to pay for trades. 

To make your Wallet active, don’t forget you need to accept the Terms sent you by email from our banking partner, Macquarie.


Instant trading with Direct Debit

Using direct debit means you can start trading immediately. Your details are encrypted and stored by a third-party payment provider. The Goodments team can’t even see them. There’s a $0.25 fee to process direct debits, charged by our banking partner. To use Direct Debit simply select the option at Check Out and enter your bank details into the app and away you go.


Instant trading with Direct Debit

Once you’ve got into making some trades, your US Dollar Trading account will also become active.

If you sell any shares, your US Dollar proceeds will come into this account, ready to either be used to buy your next shares or transfer back to your Goodments Wallet.

This account means that you have access to those funds as soon as any sells are complete, as opposed to transferring funds back to Aussie dollars which can take time and is subject to an FX conversion.

To use your trading account, simply select the option at Check Out. 

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