FREQUENTLY ASKED QUESTIONS

Drip is an app to learn to invest and build long-term wealth. It is currently in Beta.

We offer interactive learning experiences, minor accounts for under 18s with parental controls, 15 investment options with unlimited transactions, and a minimum of only $5 to start.

Drip is an initiative of BetterLabs Ventures, a $23m Venture Fund operating out of Western Australia.

BetterLabs has supported many startups in the fintech and education space, such as WeMoney and IDEA Academy. We have a team of professionals in finance, education and innovation.

Drip is licensed in Australia as a representative of Cache Investment Management. We offer investment options from the Cache Multi-Class Investment Fund, issued by K2 Asset Management.

Drip is a safe and legitimate Australian micro-investing app. Drip uses encryption protocols to ensure user information is fully protected. Robust processes prevent fraudulent and criminal activity and our team is continuously monitoring for unusual or suspicious activities.

All investments carry risk.

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Drip is an Australian investing app for families and people who want to start investing. It is an Australian legal requirement to be 18 years or over to make investments, so if you are a parent or guardian you can open a Drip account and invest on behalf of a child. You will have full control over the investments.

Kids and teens can research investment options and make suggestions or investment requests that the adults can then approve or decline, having the final say in the investment decisions.

Parents have the option to setup a Minor or an Adult Account, depending on who they want the ultimate beneficiary of the investment to be.

At Drip, we understand the importance of affordability and education. This is why Drip was designed to make micro-investing more accessible and encourage learning.

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Learning plans:

Invest & Learn (only available on iOS):

Drip has been designed to be an educational hands-on experience and, for a limited time only, we are offering the educational plan for your child under 18s for just $6.99/month ($14.99/month in the future). As a parent, you and your child can try Invest & Learn features for free for the first 4 weeks trial. This will give your child access to their own app and all of our learning features.

For more information, please view our Pricing here, read our Term & Conditions and Schedule of Fees and Promotional Deals.

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Invest:

There is no monthly fee for an Invest only account. Invest only accounts do not have child app access included and have limited features, but maintain access to the 15 investment Options via the adult app.

💹 Financial product:

Our investment product charges just 0.8% pa on investment accounts - equal to just $8 per year (or 66c per month) on a $1k balance, which is less than the cost of one trade at many brokers.

For small balances, share trading platforms may not work well, as brokerage and other fees can end up higher, and they often have minimum trade sizes and fees.

Drip offers a smart way to invest small amounts in carefully selected ETFs without having to worry about saving big lumps of money or paying fixed transaction fees.

Additional costs, such as the management fee charged by the ETF manager, apply. For more information on the investment options, please read the PDS and TMD.

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Drip offers a smart way to invest small amounts in carefully selected ETFs without having to worry about saving big lumps of money or paying fixed transaction fees, such as brokerage.

Our fees are charged as a percentage of the value invested, allowing to maximise the learning by diversifying your portfolio.

Please consider your personal circumstances and read our Product Disclosure Statement for more information. All investments carry risk.

You can start from only $5!

After you make your first $5 deposit to the Drip wallet, you can invest in the investment options with no minimum amount required.

Absolutely! Kids & teens learn by doing. They can use their app to look up companies and investment options, make investment suggestions, track how the investments are doing and more.

It will be a great educational topic for the dinner table.

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Kids & teens are exposed to more and more money situations. They are starting to make independent financial decisions and use financial products.  

There are lots of significant financial firsts, such as getting a debit card, receiving their first pay or learning about superannuation. And if they are not supported in those complex decisions, there is a risk of getting into trouble.

Studies show that 43% of 18 to 24's old Australians  can't meet their personal debt obligations, with 90% of young Australians experiencing some financial difficulty (2021data).

That’s why Drip gives them the chance to learn in a safe environment, while they have you and time by their side.

With guidance and time, kids & teens can leverage the power of compounding to grow their wealth and the ability to be patient during the inevitable bouts of market volatility.

Selecting an Adult or Minor Account depends on whether you want yourself or the Minor to be the ultimate beneficiary of the investments.

A Minor Account is an investing accounts in which the parent act as a trustee for the teen’s money, with the teen’s name on the record.

This means the teen is the ultimate beneficiary of all investments, and the parent is taking care of it until they turn 18.

At any point after the teen turns 18, it is possible to request the account to be transferred to their name, gaining full ownership of the account (subject to additional KYC processes).

Only a parent or a legal guardian can open a Minor Account, so you will need to upload a birth certificate or a Medicare card to prove the relationship.

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It is an Australian legal requirement to be 18 or over to start investing.

After an adult or parent creates an account, there is no minimum age to use Drip. The educational experience on Drip is made for kids & teens; but you can start investing and learning if you are a beginner yourself too.

You can start saving early on. We support a broad age range to learn finance. No minimum (or maximum) age here.

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Drip understands that true financial success can come from diversifying your investments. That's why we created a bunch of different investment options, each of them with 1 or 2 ETFs inside.

From ETFs of well-known companies in different regions like Australia, US and Asia to precious metals like gold and even crypto. We also have options that include different assets and cater for your risk profile, like balanced or growth.

Parents and teens can explore each of them in detail in the app and in our Investment Options List here.

1. We receive your investment request. We usually issue your units by the next business day after 11 am AEDT. In some cases, it might take up to two business days.

2. During this short period, you can see your investment "pending" on each investment option page.

3. Once the units are issued, your home page shows you everything: your total balance, returns, and a breakdown of each option. For more info on a specific investment, check the investment option page. It shows detailed returns and a performance chart.

On this beta version of the app, each parent can only link one child. This feature will be launched in the near future. In the meantime another parent or guardian can create the account for a second child. The educational resources and learning experience with Drip can be shared with the whole family!

After the parent signs-up, they can easily and safely link their bank account for direct debit deposits and withdrawals. Only a parent can link a bank account, and only one bank account can be linked to Drip’s wallet.

All Drip investments are done from the wallet, and minors can see the wallet balance at any point in time.

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1. We receive your top-up request. If the request is made after 4pm AEDT (after the banks close), the direct debit instruction will be processed the next business day.
During this short period, you can see the value “pending” on your home page.

2. We will direct debit your funds from your bank account. It can take up to 3 business days for these funds to clear.

3. Once we receive and accept your cleared funds from your bank (we can’t proceed until we receive the cash), your money will appear in your wallet. If we cannot process your top-up, your money will be returned to you.

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When a child downloads Drip on their device, and try to log in with their mobile phones, they will be prompted to enter their parent's mobile if they don't have an account yet. They can send parent invites straight from the app!

You can decide which investment options your teen can see, explore and suggest.

You also have the authority to approve or deny your teen's investment requests, as well as set the limits on how much they can suggest.

Drip was entirely designed to be an educational hands-on experience. All screens are simple and graphic, and have explainers of main concepts to help teens become financially savvy effortlessly. On the Learn section of the app, they can access a Market Explorer (to explore companies and holdings of the investment options), News, a Dictionary and the Drip Calculator. They can also reach out to Splash, their financially savvy chatbot coach. Drip users can seamlessly learn about risk, diversification, shares, ETFs, strategies and more.

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In Settings on the adult or parent app, you should see a "Withdraw" button. You can withdraw funds and these will be transferred back to the bank account linked. Only adults can deposit and withdraw funds.

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Unlike other investing apps, Drip is designed to maximise the learning experience. Our mission is to help the next generation achieve long-term financial success, so we chose not to focus on investment volume nor transaction fees.

We want to encourage teenagers to build healthy financial behaviours, saving consistently and exploring a diversified portfolio.

This is why we offer unlimited transactions without transaction fees that may impact the investment return. If we charged $2 per transaction, it wouldn’t make sense to invest $5, right?

In turn, in order to cover the costs, we need to charge a subscription fee for access to our services. We believe this is the best way to align incentives between us and our customers and enable us to continue providing a premium product for our clients.

Please read the PDS, TMD and Term & Conditions for further information. Other costs may apply.

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You can cancel your subscription at any time in the Apple or Android App stores subscriptions page.

Taxation rules for children are different from the taxes you pay as an adult.

Drip is not a registered tax agent and cannot provide any advice on tax. We recommend you get professional taxation and/or financial advice before opening a Drip account.

General information from the Australian Taxation Office(ATO) on children’s investments can be accessed at: Children's share investments | Australian Taxation Office (ato.gov.au)

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You can ask for some of your data to be deleted and still keep the account, or you can ask for all of your data to be deleted when closing your account. To make a request or close your account, please reach us via hello@dripinvest.com.au.