Awesome content, big fan of kernel but hadn’t really looked at the others, thanks for your education on financial tech and and all the other literature you do 👍
Still don’t know which one to pick. Only planning to save $100 min a fortnight as a start. Will add more as able don’t want to touch the money at all for a long time.
Is it preferable to keep the emergency fund in banks or in fintechs that offers higher interest rates and that have the ability to withdraw (including atm withdrawal) or spend money without any delay.
Here's an article from sharesies that explains the concept in better words than I can explain! www.sharesies.nz/learn/who-owns-the-investments-i-have-through-sharesies-hint-you-do
BNZ has continued to be competitive with, or better than most fintech savings rates for quite some time. I don't understand the appeal of the less convenient, generally risker fintech options at the moment. They may be worth keeping in mind in case BNZ slashes rates after next weeks RBNZ announcement though I guess.
I wondered HOW CAN THEY AFFORD TO DO THAT. ARE THEY INVESTING AT OVERSEA BY TAKE MONIES FROM HERE WITH LOWER INTEREST AND LEND THE MONEY TO THIRD World WITH HIFHER RATE: 20% RATES. IT HAPPENS IN CAMBODIA. I Supposed😂😂😂.
@BrentColeman so how do they make a return then? They must be making a spread on the deposit somewhere or it's the dumbest business model in the world.
@ they often get institutional rates which are higher than retail. All these fintechs also offer several services, these rates may be loss leaders for an upsell elsewhere such on investment products, or even on their company valuation.
Awesome content, big fan of kernel but hadn’t really looked at the others, thanks for your education on financial tech and and all the other literature you do 👍
I second that 😀
Appreciate the support!
Still don’t know which one to pick. Only planning to save $100 min a fortnight as a start. Will add more as able don’t want to touch the money at all for a long time.
Is it preferable to keep the emergency fund in banks or in fintechs that offers higher interest rates and that have the ability to withdraw (including atm withdrawal) or spend money without any delay.
All comes down to your personal preferences, and how quickly you would need to access your cash.
Hi, can someone explain what "holding on trust" means?
Here's an article from sharesies that explains the concept in better words than I can explain! www.sharesies.nz/learn/who-owns-the-investments-i-have-through-sharesies-hint-you-do
BNZ has continued to be competitive with, or better than most fintech savings rates for quite some time. I don't understand the appeal of the less convenient, generally risker fintech options at the moment. They may be worth keeping in mind in case BNZ slashes rates after next weeks RBNZ announcement though I guess.
I wondered HOW CAN THEY AFFORD TO DO THAT. ARE THEY INVESTING AT OVERSEA BY TAKE MONIES FROM HERE WITH LOWER INTEREST AND LEND THE MONEY TO THIRD World WITH HIFHER RATE: 20% RATES. IT HAPPENS IN CAMBODIA. I Supposed😂😂😂.
Haha nope not here! With what's on their website, it'd be fraud if it were!
@BrentColeman so how do they make a return then? They must be making a spread on the deposit somewhere or it's the dumbest business model in the world.
@ they often get institutional rates which are higher than retail. All these fintechs also offer several services, these rates may be loss leaders for an upsell elsewhere such on investment products, or even on their company valuation.