Why is my deposit being blocked by my bank?
Recently, there have been instances of fraud in the New Zealand banking system, which are unrelated to Superhero. Unfortunately, we’ve become aware that ASB Bank may have blocked certain accounts, including some linked to our partner, Airwallex.
In some cases, this may result in a hold being placed on fund transfers to your Superhero account. We understand this can be frustrating, but we recommend contacting your bank and asking them to release your transfer to your Superhero account.
What is my Superhero Wallet?
Your Superhero Wallet is your personal cash management account. This is where you can hold uninvested cash, see all your trading activity, and where any income or investment distributions you’ve received are deposited.
What are Available Funds?
Available Funds are funds that can be immediately used for trading.
What are Unsettled Funds?
Unsettled Funds are funds used to buy and/or sell orders on your account that have been executed but have not yet settled.
- You can use unsettled funds on sell orders to trade
- You can not use unsettled funds on buy orders to trade
What are Restricted Funds?
These are funds withheld from your account in order to fulfill pending buy orders, or declared, but not yet paid, dividends.Â
Funds may also be restricted if you elected to participate in corporate actions (e.g. share purchase plans, entitlement offerings).Â
What does Total Cash mean?
Total Cash is the amount of funds available to be transferred to your bank account.
Can I trade using my Unsettled Funds?
Unsettled Funds are funds used to buy and/or sell orders on your account that have been executed but have not yet settled.
- You can use unsettled funds on sell orders to trade
- You can not use unsettled funds on buy orders to trade
Can my Superhero Wallet go into overdraft?
No, you cannot make trades unless you have enough available funds in your Superhero Wallet to cover the trade.
Does Superhero pay interest on cash held in my Superhero Wallet?
No, Superhero does not currently pay interest on cash held in your Superhero Wallet.
Do I need to maintain a minimum cash balance in my Superhero Wallet?
No, you do not need to maintain any cash in your Superhero Wallet to keep it active.
