Terms and Conditions for the purchase and use of Sharesies Gift Codes
Last updated: December 11, 2017
Sharesies Limited (“Sharesies”, “we”, “us” or “our”) is the issuer of Sharesies Gift Codes (“Gift Code(s)”).
These terms and conditions apply to you, the purchaser or recipient who uses a Gift Code. By purchasing or using a Gift Code, you acknowledge and agree to these terms and conditions.
To help you get the most out of your Gift Code, please make sure you read and understand these terms and conditions.
1. Non-refundable and expiry
Gift Codes are non-refundable. You can't cancel or return Gift Codes once purchased
Gift Codes expire on the date that is 24 months following their date of purchase (“Expiry Date”). You can't use a Gift Code after its Expiry Date. You lose the unredeemed value on the Gift Code at the Expiry Date and it becomes the property of Sharesies Limited
2. What can you use a Gift Code for?
A Gift Code is a one-time use code per Sharesies account to
- pay the Sharesies annual subscription fee (in whole or part); and/or
- buy investments available through the Sharesies online investment platform.
Gift Codes cannot be exchanged, refunded or redeemed for cash. You must use the full face value of the Gift Code
3. Gift Code redemption process
When you buy a Gift Code, we issue a redemption code, which must entered for a Sharesies account by the Expiry Date.
To redeem the Gift Code:
- you need to log in to your Sharesies account and enter the redemption code; or
- if you don't have a Sharesies account, you need to sign up for one and you may enter the redemption code while signing up.
You must have an active account (i.e. able to trade) before any value of your Gift Code is available to buy investments. Once available in your account, you don't have to spend the value of your Gift Code in a single transaction.
If for any reason you cannot open an account with Sharesies, you will lose any unused Gift Code value.
4. Who can open a Sharesies account?
To open a Sharesies account you need to:
- be 18 years or older;
- be a New Zealand tax resident living in New Zealand;
- pay the annual Sharesies subscription fee;
- complete the identity and address verification requirements; and
- meet our eligibility requirements (e.g., we don’t currently onboard US or foreign tax residents).
5. Face value
When you buy a Gift Code, you choose a face value—from as little as $5 up to $2,000.
The total price you pay for a Gift Code will be the face value plus the card payment processing fee from Stripe. We’ll let you know what the fee is when you choose the amount—so there are no surprises at checkout.
6. Paying for your Gift Code
We accept major credit and debit cards. Once you complete your purchase, you will receive an email receipt.
7. Is Gift Code money held on trust?
Gift Code purchase money is not held on bare trust for the purchaser or any intended third party recipient.
Once a redemption code is entered into an active account, the money value of the Gift Code available for investing is treated as 'client money' and is transferred to and held by Sharesies Nominee Limited on bare trust for that Sharesies account holder under the Terms and Conditions.
You must not use Gift Codes as a way to transfer money from one person to another. Sharesies monitors transactions for such activity including money laundering or financial crime.
10. Cancellation of Gift Codes
You can't cancel or replace a Gift Code if lost or stolen. Once used, Sharesies is not responsible for any loss suffered by the purchaser or recipient.
If the Gift Code is not working, Sharesies will investigate and, where appropriate, replace the Gift Code. Sharesies is not responsible for any loss suffered by the purchaser or recipient from a non-functioning Gift Code.
Without limiting any of our rights under the Terms and Conditions, Sharesies reserves the right to refuse, cancel or void (as appropriate) any Gift Code and/or any investments held through the platform:
- if the Gift Code is issued in error;
- for any breaches of these terms and conditions and/or the Terms and Conditions;
- if required to do so by law, any regulatory authority or court; or
- if Sharesies suspects that the Gift Code was obtained or used fraudulently or unlawfully.
11. Potential delays in processing of instructions using Gift Code monies
Sharesies may delay placing any orders or instructions in respect of a Sharesies account that has redeemed a Gift Code until the funds used to purchase that Gift Code have arrived with Sharesies as cleared funds.
12. Changes to these terms and conditions and governing law
Sharesies may change these terms and conditions from time to time by uploading a new version on the Website. New Zealand law governs these terms and conditions, and the courts of New Zealand have exclusive jurisdiction.
13. What is Sharesies?
Sharesies is a registered Financial Services Provider (FSP550746). Sharesies provides an online investment platform designed to make investing easy and accessible for New Zealanders. Sharesies is not the manager or issuer of the funds available to buy through the platform. It's important to consider your investment objectives and read the fund’s product disclosure statement (“PDS”) carefully. It contains the fund’s investment objectives, risks, charges and other information, which should be considered carefully before investing. A PDS for each of the funds available on the platform is on the Sharesies website and platform. The PDS and the Sharesies website and platform also names the issuer of each fund.
If you have any queries or questions relating to the purchase or use of Sharesies Gift Codes or these terms and conditions, please contact us at [email protected]