How do I deposit money in my Unhedged account?
How long does it take for the money to show up in my account?
Why are my cleared funds different compared to what I put in?
Which payment methodologies can I use?
Can I cancel an investment instruction?
Why can’t I setup a direct debit from my savings account?

In order to put the algorithms to work, you need to add funds to your Unhedged account. You can do this easily in the app. Read on for the details.

The Basics

When you create an Unhedged account, you immediately link your bank account to it. This link is important. It adds a layer of security to make sure that you are the only person to add and withdraw money from your account.

Whenever you want to deposit funds into Unhedged, you simply select the amount you'd like to invest. After you've verified the transaction with a security code (sent to you via SMS), the funds are on their way!

The Details

Once you have confirmed you want to add funds to Unhedged, the algorithms set the price for your investment. Once that is done, your investment is shown in your Unhedged app and the algo's are getting to work for you.

Sounds like magic? We have set up Unhedged as a Unit trust with so-called 'forward unit pricing'. Your price to buy into the fund is set shortly after you submit your request to add funds, and waits for the money to arrive. Once your money arrives, this instruction is honoured.

We are making sure that there are no arbitrage opportunities in this process (the US market closes before the Australian day starts and we do not allow for anyone to try to game the system). For more info, see articles on Unit Trust and Valuation of my portfolio.

In the meantime, the bank transfer is in progress. It might take your bank a little while to process the transaction and for us to allocate it to the correct algorithms for you. During this time, it is not possible to make changes to the instructions you gave. Depending on your bank, it can take anywhere between 1 and 4 business days.

Once all is done and dusted, we will share an official confirmation email with you for your records.

Different Value in the App

The value you see in the app is unlikely to be exactly the same as the amount you invested. There are two reasons for that:

Market movements may have impacted the value of your investment. Basically, the algo's start working for you shortly after you submit your request, as soon as it is shown in the app. If you check your app on the days after, your investment may have already made a loss or profit (The latter is what we're here for after all!).

Secondly, every time you add funds, you are incurring a buy spread. The buy spread is 0.25% of the money you are adding to the algorithms. This is not a fee, but a way to make sure that the costs that are made to enable your transaction don't negatively impact other investors in the fund. For more detail, check out the article on the Impact of buy/sell spread.

How to Pay

We already mentioned that you link your bank account to your Unhedged account for security reasons. When you link your bank account, we ask you to provide us with a 'Direct Debit Authorisation'. This means that whenever you add funds in the app, we ask your bank to transfer the amount to us. You don't need to do anything else!

As an alternative payment method, it is possible to transfer directly to Unhedged, but for the moment requires completing and sending us an electronic form. Please contact our friendly operations team via chat or email if you want to use this payment methodology.

Direct debit & savings are not friends

When you link your bank account to Unhedged, it's important to check if your bank allows you to set up a Direct debit transaction. Most transaction accounts can be used, but only a handful of banks allow you to set up direct debits from a savings account. Banks want their customers to accumulate money in savings accounts, not spend it. They limit the way you can take money out. You usually don't get a bank card to pay in the shops and you may only be allowed to make transfers to one specific account. They might even punish savers for making withdrawals (e.g. no interest that month).

If you've accidentally linked a savings account that is not compatible to your Unhedged account, our friendly team can help you change that. Feel free to reach out to us via chat or email.

Cancellations

Once you submit a request to add funds in the app, we immediately sent a request to your bank to make the transfer. As this part of the process is out of our hands, Unhedged cannot cancel this request. You may be able to ask your bank to cancel the transfer before they get to it (normally within 1 business day after your request).

However, we can refund your money once it hits our account. This can take up to 6 business days; 3 business days to arrive to our account and 3 to return to your bank account.

Remember, you can withdraw your funds from Unhedged at any time through the app or by contacting support.

Links to related articles:
Valuation of my portfolio
Impact of Buy/sell spread
Contact us

Information contained here is prepared by Unhedged Pty Ltd ACN 646 421 730 (AR 001288751) an authorised representative of Cache Investment Management Pty Ltd ACN 624 306 430 AFSL 514 360. Units in the Unhedged Fund are issued by Melbourne Securities Corporation Limited (ACN 160 326 545 AFSL 428 289). All information is general information only and doesn’t take into consideration your personal circumstances, financial situation or needs. Before making a financial decision you should understand the risks and read the relevant PDS and TMD and consider whether the product is right for you and seek advice if necessary. Any information contained here may have been automatically generated by an algorithm based on raw data inputs and has not been independently verified and is subject to change. Past performance is not indicative of future performance. Unhedged Fund APIR Code: UPL9838AU International Securities Identification Number (ISIN): AU60UPL98384. Copyright (C) 2022 Unhedged. All rights reserved.
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