Big questions, or small, we’ve got you covered.
Brought to you by the team that founded Verve Super back in 2018 – Verve Money is an Australian ethical investing app supporting you to build your wealth and flex your power for good. Today, Verve has over 25,000 amazing community members (and growing) working towards their financial independence and invest in a better future for all.
Through the app, we offer investors the opportunity to invest in the Verve Money Fund: a retail managed fund with three expertly curated and ethically invested portfolios of listed and unlisted assets. These portfolios vary in risk level, minimum investment time frame and target return. All of Verve Money’s portfolios are ethically invested and require an investment of just $1 to get started.
Interests in the Verve Money Fund (ARSN 662 622 899) are issued by Melbourne Securities Corporation Limited (ACN 160 326 545, AFSL 428289).
The Manager of the Fund is Verve Money Pty Ltd (ABN 71 653 669 366, AFS Representative No. 0012941184), a Corporate Authorised Representative of True Oak Investments Ltd (ABN 81 002 558 956; AFSL 238184). The Verve Money team has been in the investment industry for many years, with Verve Super operating since 2018. Verve invests more than $200 million in funds for more than 6,000 members across both our products. You can read more about the founders on the 'about us' page.
We thought you’d never ask! Sign up and download the app to get started.
Once you sign up you will: Set your goals, choose an investment portfolio, and make a deposit, and that’s it!
With no account fees or investment management fees on balances under $1,000, and only $1 needed to get going, there’s every reason to start.
Getting started with Verve Money is quick and easy. Download the app through the App store or Google Play store. We’ll collect some personal details to set up your account and you’ll select a goal you’re investing towards. You’ll then need to select the investment portfolio which best reflects your investment timeframe and risk tolerance. Once you’ve set up your account and your first goal you’re ready to fund your account and automate your goal top-ups. You can view the performance of your investment at any time via the app.
To set up an account, you’ll need to provide basic personal information (full name, residential address and DOB), some proof of identification (such as a passport or driver’s license), and details of an Australian bank account in your name. We also recommend that you provide us with your Tax File Number (TFN).
To open a Verve Money account, at the time of application you must be:
(a) A person who is at least 18 years of age at the time of making the application*;
(b) A representative applying on behalf of a Self-Managed Super Fund; or
(c) A representative applying on behalf of a proprietary company incorporated in Australia.
* Additional eligibility conditions may apply if you are not an Australian citizen or permanent resident.
As a financial institution, Verve Money has obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act (2006) (AML/CTF Act 2006). This means we need to confirm that you are who you say you are by verifying your details with ID such as your driver’s licence or passport. In most instances, this is a digital process initiated through the Verve Money App. Any information you provide through this process will be handled with care and in line with our obligations under the Privacy Act 1998.
You will be unable to open an account if: 1) You are under 18 years of age; 2) You are not an Australian citizen or permanent resident; 3) Your identification cannot be successfully verified; or 4) You are identified as being a Politically Exposed Person. If you are unsure why your account application has been rejected please send an email to hello@vervemoney.com.au.
To reset your password, open your Verve Money app and select “Forgot Password” beneath the sign in form. Once you confirm your email address, we will send you instructions on how to reset your password.
To update your name, phone number or email address please initiate the request in the app by heading to Profile under My account details. You will receive an email from hello@vervemoney.com.au with further instruction on how to validate your personal information.
To update your residential address or date of birth, please email hello@vervemoney.com.au and we’ll let you know what information we require to verify the change.
Your Verve Money account and investments remain safe and active even if you delete the app or get a new phone. We operate in the cloud which is where this data is securely stored. Just redownload the app at your convenience and you should be able to log straight back into your account.
You can withdraw your total account balance or a specific amount at any time through the app. To initiate this process, select the goal details page from which you can select the withdrawal option in the top right hand corner. If you would like to close your account please proceed through the Profile screen in the app. Please contact hello@vervemoney.com.au if you have any questions.
If you have noticed an unauthorised transaction on your account, please contact hello@vervemoney.com.au as soon as possible.
In the process of setting up a new money goal you will be given the option to fund the goal either with a “One-Off”, “Fortnightly”, or “Monthly” deposit. If you have made a ‘One Off Payment’ and would like to start making a recurring payment, you can click “Deposit Funds” and toggle to “Fortnightly Deposit” or “Monthly Deposit” to initiate a recurring deposit across any of your goals.
The most common reason for an automated recurring payment not appearing in your account is that there were insufficient funds in your nominated bank account, meaning that when the automated request to transfer funds from your nominated bank account to your Verve Money account was made, it failed due to insufficient funds. If this is the case, or you believe another issue has taken place, please contact your financial institution or email hello@vervemoney.com.au for further assistance.
To update your bank account details please email hello@vervemoney.com.au to receive further instructions.
To close your account please withdraw all funds from all goals and ensure there are no pending transactions. Once actioned, navigate to your profile in the app, select 'My account details', then select close account and follow the prompts. Please contact hello@vervemoney.com.au if you have any questions.
To cancel a pending transaction please contact hello@vervemoney.com.au.
When you invest with Verve Money, you own units in a managed fund. A managed fund is an investment vehicle looked after by a professional fund manager (in this case, Verve Money), which collectively invests funds from multiple investors. You own units in the managed fund, which buys and sells individual investments on your behalf. This makes it easier for you to diversify your portfolio, and gain access to investment opportunities that may not be otherwise available to you as a stand-alone investor.
Verve Money gives everyday Australians access to diversified, ethically screened portfolios with 20% of each portfolio invested in climate solutions. Each portfolio contains a different mix of investments in bonds, fixed interest, Australian equities, international equities and alternatives. Some of these investments are listed on the sharemarket, some of these investments are held through an Exchange Traded Fund (ETF) and others are directly held private investments that would otherwise be inaccessible to individual retail investors. You can see our full list of investments on our ethical investing page on our website. For more information on how we invest you can also refer to the Investment Guide.
If a dividend is payable, you will be eligible to receive it if you hold underlying assets in your investment portfolio at the Distribution Date (generally 30 June). It will be reinvested into your Verve Money account automatically, so you can take advantage of compound interest. You’ll be able to see your Distributed earnings (i.e. the dividend paid to you) in the Recent transaction list of each goal. This information will also be available on your Annual Statement.
Any income dividends are paid annually and will be reinvested into your Verve Money account automatically, so you can take advantage of compound interest. You can withdraw the amount of any dividend that has been automatically re-invested by making a withdrawal request.
The Verve Money app is free to download. To start investing in your first money goal you need just $1.
Good question. To us ethical investing means uncompromising returns: we don’t compromise on our values (hopefully your values too!), and we don’t compromise on seeking a financial return for our members.
At Verve, we don’t believe it’s good enough to just screen out a few harmful industries like fossil fuels, weapons and tobacco. We really want to create change. That means having a robust screening process in place and seeking out investments that will leave the world in a better place than before we started investing.
There’re three steps to how we invest ethically.
You can read more on our ethical investing page.
We think the best we can do is be upfront about our values and honest about what we do and don’t invest in, to let you make that decision yourself.
Before we started Verve Money we interviewed and surveyed over 500 people to understand what was important to our future members. Check out our ethical investing page, you’ll see a list of the investments we avoid, and also those we seek. You can also find a link to our full investment list so you can have a look at the investments we make and decide for yourself.
Our mission is to make ethical investing accessible and affordable to support anyone to achieve their goals by investing in line with their values.
We’ve designed Verve Money as a low-fee way of entering ethical investing and we’ve made it possible to do so on a small balance (remember there are no account fees or investment management fees charged on balances under $1,000).
But to be clear, we’re not setting out to be the low-cost carrier of investing.
Instead, we make it as easy as possible to get involved and aim to balance the cost of doing ethical investing right with better financial outcomes for investors.
Yes, there are risks associated with investing and your investment in Verve Money, like other investing platforms, is subject to market fluctuation. For more information, refer to the PDS and Investment Guide.
For the FY23 financial year, all members will receive a transaction statement for each investment option held during FY23. If your balance was $0 on 30 June 2023 then you will not be eligible to receive a distribution statement or an annual tax statement. Still have questions? Email our friendly team at hello@vervemoney.com.au for further assistance.
The Verve Money Fund has elected to apply the attribution managed investment trust (AMIT) regime. Under the AMIT regime, income, capital gains and tax are attributed to individual members.
After the end of each financial year, Verve Money will issue members with end of financial year statements to help you complete your tax return. Any statements we are required to send you will be available in the Verve Money app in the “Statements and documents section”. We also notify members via email. Some members may choose to use a tax accountant or financial adviser to assist with their tax return while others may use the ATO’s myTax in the myGov portal to complete their return. For information on how to complete your return, we recommend visiting the ATO’s website.
Capital gains occur when you sell an asset for more than you bought it for, and make a profit. Capital gains tax is the tax you pay on these profits.
The Verve Money Fund receives dividends from the companies and assets it invests in, which may be fully or partially franked or unfranked. This impacts upon the tax that the Fund has to pay, and therefore, the dividends that it distributes to Verve Money investors. For more information on dividends, visit the ATO website.
When you make a withdrawal from your Verve Money account, you may incur taxable capital gains, depending on your individual circumstances. If we have your Tax File Number on file we can report tax information to the ATO on your behalf — this may mean your tax return is pre-filled with the relevant information. You will also receive an Annual Statement around tax time which can be used to complete your tax return. For more information on the tax rules that apply to your Verve Money account, please read the PDS and Investment Guide.
The Verve Money app is free to download. We’re here to make achieving goals and investing ethically more accessible for everyone.That’s why we do not charge fees for accounts with a balance of less than $1000, or for withdrawals, transfers between goals or account closures.
If your account total account balance is greater than $1000, you will be charged a monthly account fee of $4.50 and a percent based investment management fee which depends on the portfolio you select when you complete the goal set up. As the Investment Manager, these fees go towards supporting our operation and improving the tools available to Verve Money investors. For more information on fees please read the PDS and Investment Guide.
You can request a transaction statement by contacting hello@vervemoney.com.au.
Yes, around tax time each year you will receive an Annual Statement and a Distribution Statement from Verve Money that will provide you with the details you need to complete your tax return. If we have your Tax File Number on file we can report tax information to the ATO on your behalf — this may mean your tax return is pre-filled with the relevant information. You will be notified when your Annual Statement is ready for download in the app. For more information on the tax rules that apply to your Verve Money account please read the PDS and the Investment Guide.
You will not be charged any fees if you have less than $1000 in your Verve Money account. Indirect costs and a buy-sell spread may apply. For more information on fees please read the PDS and the Investment Guide.
Fees will apply if the balance of your account (including when it is spread across multiple goals) is greater than $1000. If this is the case, you will be charged fees at the end of each month. For more information on fees please read the PDS and Investment Guide.
Verve Money does not charge a fee for withdrawals, transfers of money between goals, or account closure. This means we do not charge you for moving money between goals or moving money out of Verve Money. Costs may be incurred if you decide to change the investment option that you goal is invested in, because this triggers a buy-sell transaction.
The Verve Money app is completely free to download.
We’re here to make achieving goals and investing ethically more accessible for everyone. That’s why we do not charge account fees or investment management fees for accounts with a balance of less than $1000, or for withdrawals, transfers between goals or account closures.
Fees do apply if the balance of your account (including when it is spread across multiple goals) is greater than $1000. We charge a monthly account fee of $4.50 and a percent based investment management fee which depends on the portfolio you select when you complete your goal set up. Indirect costs and a buy-sell spread may also apply. For more information on fees, please read the PDS and the Investment Guide.
To change the investment portfolio that your goal is invested in, begin by setting up a new goal which mimics the details of your previous goal, with your preferred investment portfolio. Return to your original goal and select “transfer”. This will allow you to transfer the balance of your original goal to your new goal with the desired investment portfolio. You can then delete your original goal once your balance is $0 and you ensure there are no pending or recurring deposits. Costs may be incurred if you decide to move money between different investment portfolios because this triggers a buy-sell transaction. For more information on fees please read the PDS and Investment Guide.
Verve Money has constructed three investment options which vary in the level of risk, suggested minimum investment timeframe, target return and type of assets invested in.
It’s up to you to determine which investment option meets your risk appetite. In making a decision, we recommend that you consider your age, your investment timeframe, your risk tolerance, and where other parts of your wealth are invested.
To learn more about each investment option please refer to the Product Disclosure Statement, the Investment Guide, the Target Market Determination and visit our website.
Remember, the information provided does not take into account your personal financial objectives, situation or needs. You should consider obtaining financial advice tailored to your personal circumstances when making a decision about investing in the Verve Money Fund.
At Verve Money we use goals to help you define, plan for and achieve your vision.
When you open your Verve Money app there is an option to “Add a new goal”. Select “Add a new goal” and we’ll walk you through the process of setting up your first money goal.
You can have up to five goals linked to your Verve Money account. Tip — more isn't always better when it comes to setting and achieving financial goals. Focus on your top priorities and set out to reach them, as you get closer to achieving those goals consider adding more into the mix!
Woo! It’s time to celebrate. When you have reached your goal it is up to you whether you’d like to increase the goal target amount and keep investing, withdraw the funds, transfer them to another goal, or just keep the money invested.
To delete a goal, first you must ensure your account balance is $0, there are no active monthly deposits and there are no pending transactions. Once complete, visit the goal details page, navigate to the top right icon and select delete.
To edit a goal, visit the goal dashboard and select ‘edit’. You’ll be given the option to edit the photo, title, amount and time horizon associated with your goal.
To change the investment option you will need to set up a new goal which mimics the details of your previous goal, choose your preferred investment portfolio, and transfer funds from your original goal to your new goal. There is no fee associated with changing a goal or setting up new goals. Costs may be incurred if you decide to move money between different investment options because this triggers buy-sell transactions. For more information on fees please read the PDS and Investment Guide.
At Verve Money, we have strict account protection policies, for example, ID verification, timed log-outs and multi-factor authentication, to help ensure only you can access your account.
Your data is encrypted and stored offsite to protect you from criminal activity. We will never share, sell or rent your personal information. We adhere to the NIST cybersecurity framework. This is the global standard in cyber security to protect you from criminal activity.