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xlinknz

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#290808 6-Dec-2021 19:52
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Hi


I had small amount of shares with Hatch Invest but now that Sharsies also does NZX an ASX I am now wondering whether they are a better option


Costs are similar so that is not a decision maker for me


What have peoples preferences being?


 


 


 


 


 


 


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sbiddle
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  #2825258 6-Dec-2021 19:57
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Most obvious question to ask would be whether you have any fundamental issues with the sharsies share ownership model - because it's a deal breaker for many.

 

 


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mailmarshall
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  #2825260 6-Dec-2021 19:58
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Check out the comparisons on the Moneyhub website. There are a few of these platforms now including Stake and Investnow.

xlinknz

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  #2825263 6-Dec-2021 20:03
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Thank you all for the replies

 

mailmarshall: Check out the comparisons on the Moneyhub website. There are a few of these platforms now including Stake and Investnow.

 

Thank you yes the Moneyhib reviews are good

 

sbiddle:

 

Most obvious question to ask would be whether you have any fundamental issues with the sharsies share ownership model - because it's a deal breaker for many.

 

 

What is the share ownership model of Sharsies and how is that different to Hatch Invest as they appear the same?

 

 




freitasm
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  #2825265 6-Dec-2021 20:06
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I like how Sharesies is a lot faster to move money than Hatch.

Sharesies.




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ANglEAUT
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  #2825422 6-Dec-2021 23:57
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You might also be interested in these articles from Money King NZ. I like the in detailed descriptions

 

 





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mattwnz
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  #2825426 7-Dec-2021 00:27
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I find Sharesies website more user friendly. Hatch is okay but it is a $3 trade for more trades, so if you are drip feeding money in rather than investing larger amounts, it may not be as good for you


sbiddle
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  #2825483 7-Dec-2021 07:24
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freitasm: I like how Sharesies is a lot faster to move money than Hatch.

Sharesies.

 

Money deposited into hatch is typically there within a couple of hours now. That is no longer an advantage to Sharesies any longer.

 

 

 

 




freitasm
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  #2825502 7-Dec-2021 08:30
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Two weeks ago I sold some shares on Hatch. Withdrawal took days. Not fast enough compared to Sharesies. 





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xlinknz

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  #2825505 7-Dec-2021 08:36
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Interesting there is a difference between Hatch and Sharsies in regards to US Shares and tax. This article here on moneykingnz explains

 

It would seem that they treat the US tax liabilities different, Sharsies automatically deducts (US) FIF dividends at 33% but as the article points out that convenience means you cannot use NZ FIF tax rules if they advantage you and if you had more than US $50K you would be paying tax on dividends rather than using FDR or CV calculation

 

 


freitasm
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  #2825507 7-Dec-2021 08:38
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Sharesies.





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Earbanean
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  #2825508 7-Dec-2021 08:42
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freitasm:

 

Two weeks ago I sold some shares on Hatch. Withdrawal took days. Not fast enough compared to Sharesies. 

 

 

What was the currency of the those shares?  Did this process involve FX transfer as well?


freitasm
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  #2825511 7-Dec-2021 09:00
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US dollars. Then withdrawal took about three days. Not as fast as Sharesies which I can sell overnight, convert on the spot and withdraw complete on the same day or next.





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eracode
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  #2825526 7-Dec-2021 10:05
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xlinknz:

 

Interesting there is a difference between Hatch and Sharsies in regards to US Shares and tax. This article here on moneykingnz explains

 

It would seem that they treat the US tax liabilities different, Sharsies automatically deducts (US) FIF dividends at 33% but as the article points out that convenience means you cannot use NZ FIF tax rules if they advantage you and if you had more than US $50K you would be paying tax on dividends rather than using FDR or CV calculation

 

 

 



 

My understanding is that Sharesies is not an option if you want to invest more than NZ$50K cost in foreign shares - in that their system can’t handle the FIF rules.





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darylblake
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  #2825570 7-Dec-2021 11:35
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I use hatch. Have not used Sharesies.

Have an ASB Securities acct and Hatch for markets other than ASX NZSX 


mattwnz
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  #2826383 7-Dec-2021 23:59
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darylblake:

 

I use hatch. Have not used Sharesies.

Have an ASB Securities acct and Hatch for markets other than ASX NZSX 

 

 

 

 

I have an ASB account too and used them for years before sharesies came along. But the benefit of Sharesies is you can just drip feed $10 or even less at a time into most shares and the fees are usually just a percentage. While I think with ASB it is a minimum of $15 for NZ shares.  


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