Key Takeaways: POLi is one of the largest Australian payment providers, it is a subsidiary of Australian Post. It is accepted as an AUD deposit method on most major Australian brokerage platforms. At the time of writing, it is accepted on eToro, Interactive Brokers and SelfWealth.
We recommend using eToro Australia, it is the world largest multi-asset investing platform. eToro allows Aussies to invest in six different asset classes including shares, ETFs, commodities, indices, fiat currencies and cryptocurrencies. To learn more about eToro, you can visit our comprehensive eToro Review.
What is POLi?
POLi is an online payment system that allows customers to pay for goods and services directly from their bank account. The payment is then processed immediately, allowing businesses to receive payments quickly and securely. POLi is available to customers of major banks in Australia, including ANZ, Commonwealth Bank, NAB and Westpac.
POLi was founded in 2006 and is headquartered in Melbourne. The company has a strong focus on security and has been accredited by major banks and financial institutions around the world. POLi also offers a number of other payment solutions, including POLi Pay, which allows businesses to accept payments via credit card, debit card or bank transfer.
How to buy Shares with POLi in Australia
The easiest and most affordable way to buy shares with POLi in Australia is through eToro. eToro accepts multiple AUD payment methods including POLi, Bank Transfer, Credit/Debit Card, Skrill, Netller & PayPal. Follow the below steps to buy shares with POLi.
- Sign Up: Create an account on eToro and complete the verification process.
- Deposit AUD: Click 'Deposit Funds', choose 'POLi', input your full name and follow the prompts on POLi.
- Find Stock: Find the stock you want to buy in the search bar and select 'Trade'.
- Buy Asset: Enter the amount you want to invest and click 'Set Order'.
What are the fees involved in buying stocks?
Luckily for eToro users, the platform offers free AUD deposits for POLi users. Additionally, it offers brokerage-free trading on stocks and ETFs. This means you do not need to pay any fees when you purchase stocks. The only two fees eToro charges is a $5AUD fee for every withdrawal and an inactivity fee of $10 a month will be charged when you don't use the platform for more than 12 months.
Is eToro a secure platform to use?
Yes, eToro is the most secure trading and investing platform in the world. eToro AUS Capital Limited (ABN 66 612 791 803) is regulated in Australia by the Australian Securities and Investments Commission (ASIC). Additionally, it is the holder of an Australian Financial Services Licence (AFSL), number 491139. For more information on the eToros licensing in Australia, please click here.