Receive A$100 after You Transfer A$5000 Worth of Shares to Your Superhero Account @ Superhero

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Wilson Heroes HL on 02/03/2022 - 11:40 superhero.com.au (119 clicks)
Last edited 03/03/2022 - 11:54 by 1 other user

Just got a text msg about the superhero offer

Get A$100 when you transfer your Aussie or U.S. shares to your Superhero account!
Hold Aussie or U.S. shares with another broker or platform?

Get A$100 when you transfer $5,000 or more of shares to your Superhero account by 31 March 2022.

How to transfer your shares
Complete and sign the relevant share transfer form below (electronic signatures not accepted). Don’t forget to include your Superhero account number and make sure that the name on both accounts is the same.
Australian Broker to Broker Transfer Form
Australian Issuer Sponsored Transfer Form (shares from a share registry)
U.S. Share Transfer Form
Send your signed (electronic signature is not accepted) form and a copy of a government-issued photo ID to us via email at [email protected]. Please ensure your signature on the form matches your ID.
Your shares will ordinarily be moved to your Superhero account within 7 business days. In a small number of cases it may take a little longer. You will receive a confirmation email once your shares are available in your Superhero account.
Note: you can only transfer whole shares to Superhero (i.e. not fractional shares).

Terms & Conditions
Overview

This promotion offers registered Superhero users to receive A$100 for an Australian Share Transfer over the value of A$5,000 and A$100 for a U.S. Share transfer over the value of US$5,000 worth of shares. To participate, users must agree to these terms in addition to the Superhero Member Terms & Conditions.

Promotion Period

Offer Period. This promotion is available from 9:00am AEDT on 2 March 2022 until 11:59pm AEDT on 31 March 2022. During this time, the user must initiate an eligible share transfer to Superhero.
Redemption Period. Promotional funds will be available in your Superhero Wallet within 7 business days of the date your shares are received into your Superhero account.
Eligibility

To be eligible for the Superhero Share Transfer Promotion, a user must:
Initiate an Australian share transfer of A$5,000 worth of shares or more using either our Broker to Broker Transfer Form or SRN Transfer Form during the promotion period; or
Initiate a U.S. share transfer of US$5,000 worth of shares or more using our U.S. Transfer Form during the promotion period; and
Your transferred shares must be received into your Superhero account in order to receive the A$100 promotion; and
be 18 years of age or over.
The market value of the securities transferred into your Superhero account is calculated using the price of the security at the close of business on the day the shares are received into your Superhero account.
Transfers must meet the above minimum values at the time your shares are received into your Superhero account.
Only one Australian Transfer and one U.S. Transfer per Superhero user is eligible for this promotion (maximum of A$200 promotional funds per user).
This promotion is limited to the first 2,000 eligible transfers.
How it Works

Superhero users will receive A$100 for an eligible Australian share transfer of A$5,000 worth of shares or more and A$100 for a U.S. share transfer of US$5,000 worth of shares or more for the first 2,000 customers who initiate a successful share transfer between 2 March 2022 and 31 March 2022.
Redemption

Promotional funds will be available in your Superhero Wallet within 7 business days of the date your shares are received into your Superhero account
Promotional funds will be given in Australian dollars only.
Any funds received from the promotion will be restricted in your Superhero account for 12 months, meaning these funds will be unavailable for withdrawal but will be made available to trade with.
During the first 12 month period, any funds in excess of the A$100 promotional funds received into your Superhero account will be available to withdraw.
If any shares are transferred out of the Superhero account that received the share transfer within 12 months from the transfer in date, the promotional funds (A$100) will be debited from your Superhero account.

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Superhero

• 

  Charlie Dont Surf on 02/03/2022 - 11:58

  +3

  I did this last year, when it was $3000 minimum. Transferred a single holding across.

  You need to keep the shares for 12 months, so if you're thinking of doing the same (i) choose a stock that you're likely to hold for that period of time and (ii) I'd suggest making it a company stock instead of an ETF and (iii) ideally make it a stock that isn't paying dividends,

  The last two points are just for simplicity (reporting, admin) given Superhero isn't a CHESS broker.

  • 

    bfg100k on 02/03/2022 - 19:07

    Can you elaborate what you mean by "just for simplicity (reporting, admin) given Superhero isn't a CHESS broker."?

    • 

      Charlie Dont Surf on 02/03/2022 - 19:33

      With a CHESS-sponsored broker, the stock is owned and recorded in your name (HIN) at the share registry (eg. Computershare, Link Market Services), and you therefore have access from the registry to EOFY tax statements, dividend/distribution statements etc - current and historical. The annual tax statements can get a bit complicated for ETFs, especially international ones. When I held some ETFs with Superhero last financial year, I found their tax statements and reporting to be inadequate. My understanding is that they've improved in this area, but for the purpose of this churning exercise I would prefer to shift across a holding that has little or no tax-reporting requirements. (Sharesight is great and can help in this regard.)

      • 

        bfg100k on 02/03/2022 - 19:57

        Thanks for the insight. I only started buying shares (and only ETFs at this point) this FY so yet to get hit with the tax reporting burden. Was planning to use Superhero as my one and only brokerage but I'm guessing that is not wise? Do you have another that you recommend?

        • 

          Charlie Dont Surf on 02/03/2022 - 20:09

          +1

          @bfg100k: As I said above, my understanding is that they've improved their reporting regime, so I might be describing a "false fear" that has now been rectified. There might be new information on other forums (Reddit, Whirlpool etc) about how they're going now. But, really, it's at EOFY (tax time) that the test will come.

          Of course, the $0 brokerage for ETFs at Superhero is hugely attractive, especially if you're investing small amounts at regular intervals. At the budget end of town, Stake is competing hard with $3 brokerage (CHESS sponsored). If I was you, I'd probably stick with Superhero at least until the end of the financial year, then reassess after you file your tax return.

          And definitely make sure you use Sharesight and record all your ETF trades there - up to 10 different holdings with their freebie account - as they get the nitty-gritty of ETF distributions extremely accurate.

• 

  mountaineer on 02/03/2022 - 13:29

  I did that too. They don't allow you to withdraw the $100 for 90 days if that concerns you. Just to clarify keeping the transferred shares for 12 months just mean not to be transferred out to another broker you can dispose when you see fit, right?

  Thinking of moving some US shares over anyone done that? Is it as easy as the Aussie one?

  • 

    Charlie Dont Surf on 02/03/2022 - 14:29

    Yes, of course you are able to sell at any time, but I would expect that you'll lose that $100 bonus if you dispose of them within 12 months.
    (Good question though….worth checking T&Cs)

    • 

      LLK on 03/03/2022 - 13:16

      good question!

  • 

    abc on 02/03/2022 - 16:30

    I just bought an ETF with the $100 free brokerage.

• 

  amorn on 02/03/2022 - 14:38

  do you guys use /don't use it for trading? why?

  • 

    mountaineer on 02/03/2022 - 16:41

    It is a good platform, good for non sophisticated investor who may just do infrequent buy and hold….no fancy functions like options etc (as far as I know).

• 

  haylazf16 on 02/03/2022 - 19:19

  Is this Australian regulated platform?Comsec reports all my trading to ATO. Do we have to do some extra reporting ourselves apart from normal tax return?

  • 

    amorn on 21/03/2022 - 11:54

    wanted to know as well

• 

  Fvntom on 03/03/2022 - 22:59

  -1

  Have to hold for 12 months or you get no bonus? This sounds like a Ponzi scheme if you ask me.

  Trust, if you want real returns on your money, which literally get paid out every single day, go try the 4.01% apr Earn feature on the Finder App.

  Can literally take your money out whenever you want and keep your earnings…which is $200+ if you put the same $5000 in there for 12 months that you’d be putting into this app. Sounds like a no brainer to me.

  I challenge you to try it and then try to tell me I’m wrong.

• 

  izkai67 on 05/03/2022 - 18:00

  +1

  only for first 2000 transfers, it's in term & condition. no thankz I don't even know if I am number 2001. why not used dates instead?

• 

  BigBTrain on 13/03/2022 - 10:02

  Is there a way to find out how many transfers have already occurred?

• 

  watwatwat on 18/03/2022 - 10:12

  +1

  Jesus Christ, do they expect anyone to actually fill this out? Stake has an awesome transfer all within the app.

  This company wants you to fill out these crappy paper forms, they don't accept digital signature, and then after all that crap is done then they will lock your shares for 12 months?

  Ain't no one got time fo dat.

• 

  rektrading on 21/03/2022 - 12:01

  Superhero is paying a 2% return for them to hodl the assets for 12M.

  How are they making money on this scheme?