When you sign up to Stake you can make a bank transfer from your Australian account to your Stake account. In just a few, simple steps you can buy U.S. stocks with Stake.
How do I transfer?
- Tap the wallet icon > click deposit > enter amount
- Select method > bank transfer
- Choose your bank transfer speed (Instant or Regular) and click next
- You'll receive an estimated summary of your transaction. With the final amount confirmed when your transaction has been processed
- Initiate the transfer from your Australian bank, using the details provided on the next screen
- It's vital that you enter the correct REFERENCE for the transfer, which will be your Stake Account number (beginning with ST).
The speed of your transfer will depend on:
Step 1: From your bank to Stake
- Your bank may or may not send transfers instantly
- Non-instant transfers will be received in 1-2 business days
- Once we receive the funds, we'll send you an email confirming: FX rate, fees, $USD, and delivery time
Step 2: Stake allocates the funds to your account (instant or regular)
Here's what to expect, once Stake receives your funds:
|Service||Speed||Given that Stake has received your funds by|
|Instant||Receive your funds instantly||N/A|
|Regular||Receive your funds in the second trading session (1pm NY time)||4pm (AEDT)|
Things to consider
- It is vital that your reference number is correct (your Stake account number starting with ST). If you do not include the correct REFERENCE, your funds will be returned, which may incur fees. It takes up to 30 days for money to be returned.
- Please note that, for some banks, REFERENCE is different to DESCRIPTION. The description is often for your records, and may not be visible to Stake. Please ensure that it is the REFERENCE that includes your Stake account number.
- Stake does not accept deposits from third parties. All deposits have to be in your name
- Please ensure that the name on the remitting account is an EXACT match to that on your Stake account. We are NOT able to accept fund transfers otherwise, for any reason - no third party transfers, no related company accounts, friends & family accounts etc.
- You must initiate the transfer via online banking. We do not accept transfers made by your branch or cash / cheques.
- The minimum deposit amount is $50 AUD.
- For security purposes, your bank may hold payments to new payees for 24 hours (check with your bank for more info), which will delay the process at step 1.
- If your bank does not send payments instantly (via OSKO, PayID), the AUD transfer to Stake (step 1) will take approximately 1-2 business days.
- If you haven't heard from us within 2 business days, please contact the Stake Support Team with a copy of your transfer receipt.