Once you have successfully created your Superhero account, you’re ready to deposit funds into your Superhero Wallet and start trading. Your Superhero Wallet has four sections:
- Bank Accounts
Deposit funds into your Superhero Wallet
Superhero only offers Direct Bank Transfers and deposits may take 1-2 business days to appear in your Superhero Wallet.
Transferring NZD to USD or AUD
Superhero allows you to transfer funds from NZD to USD or AUD and back in real time, with no express funding fees. If you wish to trade U.S. shares through Superhero, you will need to transfer New Zealand Dollars in your Superhero Wallet to U.S. Dollars. To get started, navigate to the USD tab in your Superhero Wallet.
Specify the amount in NZD you wish to transfer to USD (minimum trade amount for U.S. shares is $10 USD). Click the calculate button to see the amount you will receive in USD, as well as the FX Rate and the FX Fee that will be charged on the transfer (in NZD).
When you’re ready, click the confirm button to transfer funds in real time (no extra fee for real-time transfers). Transfer confirmation has a time limit of 10 seconds. If your transfer times out, simply re-enter the amount you wish to transfer and confirm.
To transfer funds back from USD or AUD to NZD, simply click the directional arrows button to reverse the transfer direction.
Types of Funds in your Superhero Wallet
Available to Invest
These are the funds you can use to invest right away, and the funds that can be used to transfer funds between NZD and USD or AUD.
Restricted funds are funds withheld from your account in order to fulfil pending buy orders or dividends that have been declared but not yet paid.
Funds may also be restricted if you elected to participate in corporate actions (e.g. share purchase plans, entitlement offerings).
Share sale proceeds settle according to the T+2 settlement process, on the trade date plus two trading days. During this time, unsettled funds can be used to place trades, but they cannot be withdrawn from your Superhero Wallet.
The total funds in your Superhero Wallet, including funds available to invest, unsettled funds and restricted funds.
Before you withdraw funds from your Superhero Wallet, you’ll need to have a Bank Account linked to your Superhero Wallet. Any deposit made using Direct Bank Transfer (Account Number) will automatically create and authenticate your bank account for withdrawal.
Funds can be withdrawn from the NZD tab of your Superhero Wallet. Enter the amount to transfer and a reference for your record. Funds can only be withdrawn from your Superhero Wallet in NZD. If you have sold U.S. or Australian shares and wish to withdraw funds, you will need to transfer the funds back into NZD.
For share sale proceeds – proceeds settle according to the ASX T + 2 settlement process, on the trade date plus two trading days. Once the funds settle, you can transfer and withdraw them.