What is ShareMeUp?
ShareMeUp is a micro-investing app that allows you to conveniently invest in selected NZX-listed shares from as little as $50 per transaction. ShareMeUp makes investing in shares more accessible, affordable and adaptable by eliminating barriers to investing, and giving you the ability to grow your shareholdings.
What can people invest in through ShareMeUp?
ShareMeUp allows you to invest in $50 – $500 worth of financial products on a weekly, fortnightly or monthly basis. You can invest in a range of selected NZX-listed companies (they have a full up-to-date list on their site of these companies).
You choose your recurring investment period, whether weekly, fortnightly or monthly, and the companies you would like to invest in.
Some key features of ShareMeUp include:
- Invest from as little as $50 in a selected range of NZX-listed shares
- Learn about the market in their Learn section
- Learn about your investments through their Reap integration (background information and financial performance metrics on companies)
How much does it cost to invest with ShareMeUp?
It’s free to sign up, then ShareMeUp charges a minimum brokerage fee of 99c, which is based on the minimum purchase amount of $50 per security. This brokerage fee is capped at 1.98% of the investment amount, which ranges between $50 to $500 per security.
In addition, ShareMeUp engages a third-party provider to carry out the direct-debit and cash transaction automation. For this service, the third-party provider charges a fixed fee for the payment transaction of $1 and a variable fee of 0.1% of the amount invested ($50). The variable fee of 0.1% is not calculated on ShareMeUp’s brokerage or the supplier charges, only the amount invested, which can range between $50 to $500 per security purchased.
How do I sign up to ShareMeUp?
To start investing in shares through ShareMeUp you will need to follow the steps below:
- Download the ShareMeUp App (available on Apple App and Google Play Stores)
- Sign up to ShareMeUp with an email
- Add a bank account that can be direct debited
- Select your investments and frequency
You’ll need to be over 18 and have some form of ID, such as a passport or driver’s licence.