Summary: The only way to invest in stocks with an ASB bank account is by going through a secure brokerage platform. You cannot currently invest in stocks directly on the ASB banking platform. This is because it is yet to implement a share-investing feature on its platform.
When deciding what brokerage platform to use, there are a few things to take into consideration. It’s important to compare security, fees, features, assets and support options on each platform. We recommend using the eToro exchange, as it offers high security and brokerage-free trading.
What is ASB Bank
ASB Bank is one of NZ's leading banking institutions. They have a long and proud history of helping Kiwis with their finances since 1847. With over 5,500 employees and 500,000 customers, ASB is big enough to provide the products and services NZ residents need but small enough to care about each and every one of its customers.
ASB offers a wide range of financial products and services, including everyday banking, home loans, personal loans, investments, insurance, foreign exchange, and more.
How To Buy Stocks With ASB Bank in NZ
In this guide, we show New Zealand investors the easiest way to buy stocks with an ASB bank account. Follow the below steps to begin investing in stocks with an ASB bank account for zero commissions:
- Create an account on eToro and finish your verification.
- Select ‘Deposit Funds’, pick a method and send funds to your eToro account.
- Search for the stock you want to buy in the search bar and tap ‘Trade’.
- Input the amount you want to invest and click ‘Set Order’.
What deposit methods can I use to buy stocks with ASB Bank?
There are multiple deposit methods that are supported for ASB Bank users. All deposits on the eToro exchange are free for ASB Bank account holders. You can deposit funds on eToro with an ASB bank account through Bank Transfer, Credit/Debit card, PayPal, Skrill, Klarna & Neteller.
What are the risks involved in buying stocks?
When you buy stocks or shares, you're actually buying a part-ownership stake in a company. This means that the value of your investment can go up or down, depending on how the company is performing. It's important to remember that stocks are a long-term investment, so have a time frame in mind when you make your purchase.
It's also crucial to diversify your portfolio by investing in a range of different companies and sectors. This way, you'll be able to mitigate some of the risks associated with investing in any one particular company. And finally, remember to review your investments regularly.