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Invest your spare change, and watch your portfolio grow.

Raiz (which was previously known as Acorns Australia) is just like a digital coin jar. How it works is that you download the Raiz App, then link it to your bank accounts and/or credit cards that you choose. Then, when you make transactions on those accounts that you have chosen, it rounds each transaction up to an amount you have selected, and invests that amount into an investment portfolio (that you have also selected on set up).

The default option is to round up to the nearest dollar, but you do have a choice to change this. So, for example, you spend $4.50 on a coffee on your debit or credit card, it would round it up to $5.00 and the 50c difference is invested on your behalf. Each time $5.00 is accumulated in your investment account, it is invested into the portfolio that you selected when you signed up.

This is how your spare change is accumulating into a growing investment portfolio!

Raiz is free to download, but there is monthly fees once your balance is more than $0. A monthly fee of $1.25 is charged for accounts with a balance of under $5,000 and 0.275% annually for accounts with a balance of $5,000 and over.

It’s also really flexible. You can deposit additional funds at any time to increase your investments, and also make unlimited withdrawals at any time without incurring any fees. There are also no fees for switching investment options.

Overall it is a fantastic way to start an investment portfolio, and automatically contribute to it without you really even noticing it.

What are the risks

Of course there are the standard investment risks as the portfolio’s are invested into options that are subject to market movement.

It’s a great way to get started, but once your balance builds, there may be more cost-effective options to investing.

Check the Raiz website for more information


The Next Step Financial Group Pty Ltd, ABN 50 163 965 946 is an Authorised Representative of Count Financial Limited. ‘Count’ and Count Wealth Accountants are trading names of Count Financial Limited ABN 19 001 974 625 Australian Financial Services Licence Holder Number 227232 a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Count is a professional Partner of the Financial Planning Association of Australia Limited. Count advisers are authorised representatives of Count.

General Advice Warning

This document contains general advice. It does not take account of your objectives, financial situation or needs. You should consider talking to a Financial Adviser before making a financial decision.


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