{"id":3252,"date":"2017-04-09T09:59:00","date_gmt":"2017-04-08T22:59:00","guid":{"rendered":"https:\/\/blog.stillaslife.com\/?p=3252"},"modified":"2018-09-09T08:41:50","modified_gmt":"2018-09-08T22:41:50","slug":"how-found-money-works-in-acorns-australia","status":"publish","type":"post","link":"https:\/\/stillaslife.com\/how-found-money-works-in-acorns-australia\/","title":{"rendered":"How “Found Money” works in Raiz (previously Acorns Australia)"},"content":{"rendered":"
I signed up with Raiz (previously Acorns Australia)<\/a> when they first launched here in February 2016. Then, in late 2016, Acorns Australia<\/a> added the “Found Money” feature to their app before later rebranding as Raiz<\/a>. The concept behind this is that you get rewarded with bonus money in the form of cash back, for shopping with participating retailers. Generally, when you make a purchase on one of your linked cards, let’s say for $10.30, you would then automatically pay $0.70 from your funding account into your Raiz<\/a> investment account, effectively rounding your purchase up to $11.00 and contributing to your investment portfolio at the same time.<\/p>\n When you activate “Found Money” for a participating retailer, that retailer will reward you with bonus money deposited into your account for eligible purchases. Each retailer is different, but I have seen three different ways of calculating\u00a0the amount so far. The most common are multiples of your regular round-up amount. For example, 4x your round-up on a $0.70 round-up means the reward would be $2.80. The second reward method is a percentage back. For example, I’ve seen four of the retailers offering 10% of your purchase value back. So on $10.30 that would be $1.03.<\/p>\n