by Sam Ryan

Powering Stake AUS

We know the safety of your funds are important to you and this is something we don’t take lightly either. So we wanted to refresh your memory with information on how things work under the Stake AUS hood.

How the CHESS system works

Developed and maintained by the ASX, the Clearing House Electronic Subregister System (CHESS) is responsible for processing all your ASX transactions.

That’s where your Holder Identification Number (HIN) comes in. Every time you make an investment, the security is assigned to your HIN, ensuring it is held under your own name.

Ultimately, with the CHESS system, the ASX itself has a record of you owning the shares under your own name.

How your trades make it to the exchange

When you place a trade on Stake AUS, this is sent directly to our executing broker partner, FinClear.

Operating as an Australian Financial Services Licensee and an ASX Market and Account Settlement Participant, FinClear then takes your trades directly to the “floor” of the ASX. Of course, this all happens digitally these days.

This is where the CHESS system (outlined above) kicks in to process all of your ASX transactions and ensure they are held in your name, on your HIN.

How the Stake AUS account works

The Stake AUS account uses a digital wallet & transaction account that allows you to keep AUD to use to invest. It is provided by Airwallex, as part of setting up a Stake account.

Each Stake AUS account has a BSB and Account Number to enable you to make deposits into your account. The account supports NPP Payments too, so you can receive funds into the account in minutes instead of waiting hours (more below).

All transactions from deposits, withdrawals, trade settlement, movement of cash, dividends, and corporate actions are recorded in the Stake AUS account. If you have settled funds available, you can also transfer from your Stake AUS account to your Stake Wall St account.

How your AUD cash is held

The funds in your account (provided by Airwallex) are covered by a bank guarantee issued by an Australian bank, in accordance with requirements of APRA. Your funds may also be held on trust at an authorised deposit-taking institution in a client monies account.

Previously, the funds in your Wallet (which is provided by Airwallex) had been held in an account at an Australian bank held on trust for you. The new structure above does not impact the way you can use our services.

Since this change, terms and conditions were updated. In particular, clause 5 of the Payout & FX Terms has been amended to address the bank guarantee. Updated T&Cs.

Additionally, the Product Disclosure Statement with key information about your account has been updated. Updated PDS.

These changes are in effect. FAQs.

How deposits work

Depositing into your Stake AUS account is easy, and it even supports instant deposits with NPP (Read more about New Payments Platform).

Depositing into your Stake AUS account is easy, and it even supports instant deposits with Osko and NPP (Read more about ).

Using a bank transfer, you can send funds from your bank to your Stake AUS account in minutes, anytime of the day and including on weekends. Simply use the BSB and Account Number provided on Stake. As soon as your funds land, we’ll notify you of it via the Stake App.

You are also able to deposit into your Stake AUS account using Debit or Credit Card as well as Apple or Google Pay. Fees apply to debit and credit card deposits.

Check out the Stake payment methods for more information.

As always, if you ever require any support or have any feedback for us, please contact us here.

Portrait photo of Sam Ryan, Product Marketing Specialist at Stake.

Sam Ryan

Product Marketing Specialist

Sam is a product marketing specialist at Stake with 6 years of finance experience in Australia. With a Bachelor in Business from the University of Technology, Sydney, he specialises in product marketing and communications strategy. Previously, he has worked in the home lending and retail banking sectors with experience in customer success, marketing and product at Mortgage Choice and Ubank (formerly 86 400). At Stake, Sam helps manage the launch of new products and features whilst also focusing on marketing campaigns that help improve the Stake experience.

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Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

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