Betashares Direct | Frequently Asked Questions

What is Betashares Direct?

Betashares Direct is a new investing platform designed to help you build wealth, your way.

With Betashares Direct you can invest in any ETF traded on the ASX with zero brokerage and no account fees on ETF holdings. You can set up recurring investments and cost-effectively automate your investing strategy by accessing professionally constructed pre-built portfolios or build-your-own custom portfolios, all with streamlined, personalised performance and tax reporting to make your investments simple to administer and manage.

*Refer to the Product Disclosure Statement for more information on interest retained by Betashares on cash balances and AutoPilot portfolio fees..

Who is Betashares?

Betashares is a leading Australian fund manager, with a focus on exchange traded funds (ETFs). Established in 2009 with the vision of enabling every Australian to financially progress, we serve over 1 million investors and thousands of financial advisers, managing more than $37 billion in assets.

Learn more about Betashares here.

How do I open a Betashares Direct account?

It takes just a few minutes to open an account with Betashares Direct.

Simply download the Betashares Direct app for your iOS device via the App Store or for Android via Google Play. You can then sign-up and register for an account by providing:

• Your email address,
• Your name, date of birth, and address (as they appear on your ID)

If we are unable to verify your identity from the information provided above, we may ask for additional information including:

• A current Australian Driver’s Licence, or
• An Australian passport or international passport within three years of its expiry date.

What if I don’t have a passport or driver’s licence?

If you don’t have a current Australian Driver’s Licence or a valid passport, our customer support team will assist you through live chat or via email (support@betashares.com.au) by asking for documents such as your Medicare card, bank statements, or utility bills.

To comply with Australian AML/CTF laws and AUSTRAC guidelines, Betashares is obliged to collect certain personal details to open a Betashares Direct account for you. This includes your legal name, date of birth, address, and sources of wealth.

What are the investment options on Betashares Direct?

Betashares Direct currently offers access to the following investment options:

• Any ETF traded on the ASX or Cboe Australia with zero brokerage
• AutoPilot portfolios - automated investing allowing you to:• invest in a range of professionally constructed pre-built portfolios to suit different risk/return profiles and investment strategies
• build your own custom ETF portfolio (up to a maximum 10 ETFs) to suit your own goals and financial circumstances.
• set up recurring investments into one or more ETFs of your choosing

What are AutoPilot Portfolios?

AutoPilot Portfolios let you easily and efficiently automate your investing strategy. The benefits of AutoPilot Portfolios include:

• Make recurring or one-off investments from your bank account directly into your Autopilot portfolio
• Choose from diversified pre-built portfolios, or customise your own investment strategy
• Instantly top up your AutoPilot Portfolio direct from your Cash Wallet
• Your investments into AutoPilot are made automatically according to your chosen portfolio’s strategy
• Automatic monitoring and rebalancing of your portfolio
• Automatic reinvestment of your distributions
• Low monthly fees with zero brokerage

How does Betashares protect my account and personal data?

The security of your Betashares Direct account is very important to us. We have implemented robust measures to safeguard your account and sensitive personal information:

• You are verified by email when your account is created and each time you login
• We will notify you when a new login is detected, highlighting the time of login and device used.
• For mobile, access to your account is secured with a unique passcode. If your device supports it, you can use Face ID for quick and secure access.
• Data, including personal information data, is encrypted to prevent external attackers accessing unencrypted data and protect against data breaches.
• Protections in place if your Betashares Direct account is shared on screen sharing tools typically used in phishing attempts.

If you have any security or privacy concerns relating to Betashares Direct, please contact Customer Support through the live chat feature, via email support@betashares.com.au, or over the phone 1300 202 738.

Can I transfer my ETFs from my existing broker to Betashares Direct?

The ability to transfer ETFs from and to another broker will be made available soon.

Is Betashares Direct available on Web?

Not right now, but access via Web will be available in the near future.

Is Betashares Direct available on Android?

Yes. You can download Betashares Direct for Android from Google Play.

Is Betashares Direct available for SMSFs, Trusts and Companies?

Betashares Direct will be open to SMSF and Trust accounts soon.

Do I own my investments held on Betashares Direct?

You are the beneficial owner of the investments held in your Betashares Direct account. As the beneficial owner, you retain the rights to distributions paid on your investments. You have the sole right to dispose of (sell) your investments.

All investments are held on a pooled basis by the custodian of Betashares Direct. Betashares has appointed Citigroup Pty Ltd as the custodian to hold investments on Betashares’ behalf.

‍When you open a Betashares Direct account, a Cash Wallet will be opened for you. The cash in your Cash Wallet will be pooled with the cash balance of other investors, and held in one or more Australian bank accounts operated by the custodian.

Do I need to be an Australian tax resident to invest on Betashares Direct?

Yes, currently Betashares Direct is only available to Australian tax residents. This means you must be able to provide an Australian residential address as a part of the onboarding requirements.

When you make your first deposit into your Betashares Direct account, you will also be asked if you are a tax resident of any other country. If so, you will be asked to provide your Tax Identification Number (TIN) for that country.

If you are a tax resident of the United States (as well as Australia) the field to enter your TIN will be mandatory because we are required to collect this under the Foreign Account Tax Compliance Act (FATCA).

How does Betashares Direct help me with tax reporting?

Betashares Direct has been built to significantly simplify tax time for you.

At the end of each financial year, Betashares will automatically provide you with a single annual tax statement relating to all your investments in Betashares Direct. This includes gains and losses from ETFs bought and sold over the last financial year, income received from ETF distributions, and the consolidated report of all the tax attributes associated with your ETF holdings on Betashares Direct. You will be able to use this document, or send to your accountant to facilitate efficient preparation of your tax return.

In addition, information from your Betashares Direct annual tax statement will be provided to the ATO, who will use it to pre-fill your tax return on myGov account.

The Betashares Invest Tax Guide is also available to accompany the annual tax statement which may also assist you or your tax agent with the preparation of your tax return.

What are the fees and costs for using Betashares Direct?

Betashares Direct aims to keep your costs low, to help you maximise your investment returns over the long-term.

No brokerage fees apply for investing in, or selling, ETFs using Betashares Direct.
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If you decide to automate your investing using an AutoPilot Portfolio (pre-built portfolios or custom portfolios), low monthly portfolio fees apply. These portfolio fees don't apply to an AutoPilot custom portfolio with a single Betashares ETF.
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Interest income received on the cash balance in your Cash Wallet is retained by Betashares, this amount is not directly deducted from your Betashares Direct account. No minimum cash balance applies to your Cash Wallet.
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No other account or transaction fees apply to your Betashares Direct account.
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Consistent with Betashares philosophy and focus on helping clients build long term wealth, Betashares Direct is subject to a fair use policy, to ensure the platform is not used in an excessive manner.

For more information on the above fees and costs, please refer to the Product Disclosure Statement

Do platform fees apply to your individual ETF holdings on Betashares Direct?

No platform fees apply to individual ETFs held in your Betashares Direct account (i.e the ETFs held outside an AutoPilot Portfolio).
‍
Interest income received on the cash balance in your Cash Wallet is currently retained by Betashares. This amount is not directly deducted from your Betashares Direct account. No minimum cash balance applies to your Cash Wallet.

For more information on the above fees and costs, please refer to the Product Disclosure Statement

I’m a financial adviser, how can I make use of Betashares Direct?

Betashares Direct is currently for self-directed investors. Financial advisers continue to be a core focus of our business and we are actively exploring functionality that will enable financial professionals to work with their clients on the platform, as well as a financial adviser referral program for investors with more complex needs. If you would like to provide feedback into what adviser specific features would be of most value, we encourage you to contact us. Financial advisers are also able to register for Betashares Direct accounts as individual investors.