for that month.Since its launch in Australia in 2016, more than 1.1 million users have downloaded the app, which holds more than $331 million in funds under management.Raiz Invest Managing Director George Lucas said the higher fees would help the company to continue "Our strategy is to provide customers with the exceptional experience, products and benefits they've come to expect from Raiz. Account fees If you have more than $5000 in your account, Raiz stops charging the monthly maintenance fee and instead charges an account fee of 0.275% per annum, charged monthly. It's great that you can see what percentage of your purchase price is returned and any discount deals that are being offered.The brands featured are some of the most popular in Australia, among which include: ASOS, adidas, Chemist Warehouse, Clinique, Myer, Specsavers and more.The fees remain as they were before, at $2.50 per month for customers that have less than $10,000 in their accounts or 0.275% a year for customers with balances equal to or greater than $10,000.To read more about the Raiz platform, you can read our original Compare your broadband and make sure you've got enough speed.Learn about the special deductions that apply this year.Optional, only if you want us to follow up with you.Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.finder.com.au is one of Australia's leading comparison websites. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. We provide tools so you can sort and filter these lists to highlight features that matter to you.We try to take an open and transparent approach and provide a broad-based comparison service. Raiz (formerly Acorns) charge $1.25 per month Administration fee, which is high for small balances and can erode any gains with only a few hundred dollars invested. The fee will be charged to your debit card nominated under your Funding Account. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. The one thing missing here in my view is the fees.The investment options are the same as before, but there's now more transparency around the methodology.As before, there are six portfolios available that you select based on your risk appetite. However, we aim to provide information to enable consumers to understand these issues.Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. It will not affect Raiz Invest Super accounts.Compare your broadband and make sure you've got enough speed.Learn about the special deductions that apply this year.Optional, only if you want us to follow up with you.Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.finder.com.au is one of Australia's leading comparison websites. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. We encourage you to use the tools and information we provide to compare your options.Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. We provide tools so you can sort and filter these lists to highlight features that matter to you.We try to take an open and transparent approach and provide a broad-based comparison service. You should consider whether the products or services featured on our site are appropriate for your needs. Please refer to our The Finder app is here. You can see how much you're putting in and how much you're getting in return. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. Ultimately, I was pleasantly surprised by the changes.I give the new design a thumbs up. Landing first on the Scroll down and you get your portfolio's performance over time, an option to make a one-off investment and in the "My Finance" tab there's a handy breakdown of your monthly spending habits categorised into themes such as entertainment, shopping and investments.What's great about this feature is it makes it really clear how your investments are working for you. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. That means if you have $1,000 in your account, you'll be paying around 3% in fees each year. "Raiz is also doubling its referral reward to $5.00 per referral and referee from 1 July.This is the first fee change since Raiz Invest launched in Australia in February 2016.
By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. No Minimums We never charge fees with a $0 account balance and you can get started with as little as $5.
Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product.
Please refer to our The Finder app is here.
However this did not discourage me for the following reasons: I could invest straight away with small amounts It’s fairly quick to sign up and link accounts You can learn more about how we make money When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity.