Back to All
added

Introducing Wallet Accounts

about 1 year ago by Oliver Fawcett

👋 Hi everyone!

We have been having a look at our investment accounts, and have noticed that our results are inconsistent with respect to "wallet" balances.

Wallet accounts are a sort of holding account that some providers use - you move money into them prior to investing or withdrawing. Sort of like the equivalent of a checking account.
We also noticed that in some cases the portfolio balance reported by the provider was portfolio value + wallet value and in others was simply portfolio value, meaning that we weren't providing a way to see the wallet balance at all!

As of the 1st of March we will be splitting these wallet accounts out into separate accounts with a type of WALLET. This will affect the following providers:

  • Sharesies: No changes to the portfolio balance, there will be 3(!) new wallet accounts appearing per-portfolio - one for each currency Sharesies supports (NZD, AUD, USD).
  • Kernel: No changes to the portfolio balance, there will be one new wallet account appearing per user (just NZD here).
  • Hatch: Previously the portfolio balance included the wallet balance, so existing Hatch portfolio balances will drop by the value of the wallet. There will be one new NZD wallet appearing per user.
  • Stake: Previously the portfolio balance also included the wallet balance, so existing Stake portfolio balances will drop by the value of the wallet too. There will be one new NZD wallet appearing per user.

No other providers will be impacted.

We hope these changes are useful and not too disruptive (in most cases wallet balances are small, so changes should be minor).