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‘Take on Wall St’ cash draw Program Terms & Conditions

Last updated 4th November, 2021.

Overview

The ‘Take on Wall St’ cash draw promotion is run by Stakeshop Pty Ltd (New Zealand). The program provides new customers to Stake with the chance to win US$10,000 after they fund their Stake account using payment methods provided by Stake, within Stake’s platform and fulfill the competition eligibility criteria.

Customers must agree to these ’Take on Wall St' terms and conditions, plus the FSP terms and conditions and the Stake terms and conditions.

The ‘Take on Wall St’ free stock promotion period is defined as 9:00 am NZST on 10th November 2021 through 11:59 pm NZST on 31st November 2021. Terms & Conditions set out the promotion and the conditions and restrictions of the promotion.

Eligibility Criteria

In order to qualify for this promotion you must meet all of the following:

  • Does not have an existing funded individual or non-individual (Company, SMSF) Stake account before PROMO START TIME/DATE.
  • Use promotional code WallStreet when creating their new Stake account as at or after PROMO START TIME/DATE.
  • Fund their new Stake account (minimum NZ$50.00) within the promotion period.

If eligible, you will be entered into the draw to win US$10,000 in cash to be determined at the close of the promotional period.

Before opening a Stake account and choosing to invest please read the relevant terms and conditions and FSG. Free stock carries capital gains tax implications.

For the removal of doubt, here are the funding gateways that will earn free stock on first fundings. This list may be updated from time to time.

Draw

At the completion of the promotion, all eligible participants will be entered into a draw to win the US$10,000. The draw will be run and organised by Stakeshop Pty Ltd (New Zealand). The drawing of the winner will be selected at random by the Stake Marketing Manager at 9:00 am AEST on December 1st 2021. Stake will make all reasonable efforts to contact the winner, however, if the respondent fails to claim the prize within 30 business days, Stake reserves the right to run a re-draw and determine a new winner.

Prize

The winner will receive US$10,000 that will be placed into their Stake account. These funds cannot be withdrawn within 60 days after they have arrived. You may be liable for capital gains tax on the entire value of the cash draw prize. This is dependent on your personal circumstance and you will need to seek advice from a tax professional.

New Zealand

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Program Election

Once eligible under the Eligibility Criteria, you can elect to claim your free stock and be part of the FSP or elect not to receive free stock. If you elect to claim your free stock, you agree to the FSP Terms & Conditions listed in this document.

Restrictions

Customers are not eligible to set up multiple accounts to claim more than one entry into the draw. For the avoidance of doubt, only 1 entry per person under this program.

This program is also not available to Non-Individual accounts (SMSF, ISAs, Company and Minor accounts)

Customers who already have an existing funded account with Stake (unless made via direct USD transfer) before the promotion period begins.

Implications of owning stock

Owning a share in a business comes with fluctuations in price. Share prices fluctuate daily and can be volatile assets. Stake is not in any way promoting and/or recommending the stock you are issued with as part of this Free Share Program.

Tax Implications

You may be liable for capital gains tax on the entire value of the cash draw prize. This is dependent on your personal circumstance and you will need to seek advice from a tax professional.

Severability

If any provision in these terms is held to be invalid, void, or unenforceable, such provision (or the part of it that is making it invalid, void, or unenforceable) will be struck and not affect the validity of and enforceability of the remaining provisions.

Termination and Changes

Stake may suspend or terminate the Program or a user’s ability to participate in the Free Stock Program at any time for any reason.

We reserve the right to suspend accounts or remove Free Stock if we notice any activity we believe is abusive, contrary to Stake’s brand values, fraudulent, or in violation of the Stake Terms & Conditions. We reserve the right to review and investigate all referral activities and to suspend accounts or modify referrals in our sole discretion as deemed fair and appropriate.

The scope, variety, and type of services and products that you may obtain by redeeming Stake Rewards can change at any time.

Legal & Updates to the terms

These ‘Take on Wall St’ cash draw promotion Terms & Conditions are governed by and constructed in accordance with the laws of New Zealand.

We can update these ‘Take on Wall St’ cash draw promotion T&Cs at any time without prior notice. If we modify these terms, we will post the modification on the Stake website & app which are effective upon posting. Continued participation in the Free Stock Program after any modification shall constitute consent to such modification.