Free Stock Program Terms & Conditions
Last updated 17th of June 2021.
The Free Stock Program (FSP) is run by Stakeshop Pty Ltd (Australia & New Zealand) and HelloStake Limited (United Kingdom). The program provides new and existing unfunded customers with a free US listed stock when they fund their Stake account using payment methods provided by Stake within Stake’s platform.
This program allows for registered Stake users (a “Stake user”) to receive a free share for their first funding. To participate, Stake users must agree to these terms (FSP Terms & Conditions), which are in addition to the Stake Terms & Conditions.
These FSP Terms & Conditions set out the promotion and the conditions and restrictions of the promotion.
In order to qualify for this you must meet all of the following:
- Have a registered Stake account, including a verified email and account that has been approved for funding by Stake
- Such account has not yet been funded
- Have one Individual account only (non-individual accounts such as SMSF, Trust, ISAs etc are not eligible for free stock under this program)
- Fund within 24 hours or a time limit set by Stake of first viewing the Portfolio/Dashboard page on the Stake App and/or Website.
How it works
If you meet the Eligibility Criteria above, you will be asked to Claim your Free Stock after initiating your first funding through the Stake App and/or Website through the Stake platform using the funding gateways below.
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.
- AUD Wallet Transfer (via Macquarie)
- Bank Transfers via TrueLayer (in the Stake platform)
- TED Transfer (minimum R$500,00)
Once eligible under the Eligibility Criteria, you can elect to be 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.
If you agree and proceed by clicking the ‘Spin for stock’ button, you will play a free stock mystery game during which Stake will randomly issue you one of the six available stocks which will be presented to you at the time of spinning for stock. The free stock (or fraction of) earned will range in value of up to $150USD. Most people receive a stock bonus that has a value of less than $10 USD.
Customers are not eligible to set up multiple accounts to claim free stock. For the avoidance of doubt, only 1 claim of free stock can be made 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 a funded account
- Customers who already have an existing funded account with Stake (unless made via direct USD transfer)
Implications of owning stock
Owning a share in a business comes with fluctuations in price. Share prices fluctuate daily and can be a volatile asset. Stake is not in any way promoting and/or recommending the stock you are issued with as part of this Free Share Program.
You may be liable for capital gains tax on the entire value of the share when sold. This is dependent on your personal circumstance and you will need to seek advice from a tax professional.
Expiry of Claiming Free Stock
Free Stock is only available 24 hours from when you first view the Dashboard/Portfolio page on the Stake App / Website after your Stake account becomes approved.
If you do not fund within 24 hours of first viewing this page, or you actively elect not to claim your free stock, you will no longer be eligible for the Free Stock Program.
Stake or any of its employees is not affiliated with any company or issuer whose stock may be part of the Free Stock Program and is not affiliated with any exchange that the stock may be listed or traded on.
If any provision in these terms are 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 Free Stock Program Terms & Conditions are governed by and construed in accordance with the laws of New South Wales, Australia and shall be subject to the jurisdiction of the New South Wales Courts. In the UK they are subject to English Law.
We can update these Free Stock Program 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.