Opening an account with Hatch is free, but there are brokerage, exchange and tax reporting fees you should be aware of.
When you buy or sell shares or ETFs from your Hatch account, you pay a brokerage fee that we split with our US broking partner, Drive Wealth:
To buy or sell a fraction of one share: $3 USD
To buy or sell one or more shares (including fractions of shares): $0.02 USD a share, rounded to the nearest $0.01 USD. There's an $8 USD minimum fee, so up until you buy 400 shares, you'll be paying a flat rate of $8 USD on every order
If you buy any amount from 1 - 399.9999 Tesla shares, the fee will be $8 USD
If you buy 401 Tesla shares, the fee will be $8.02 USD.
A 50bps* fee is included in the exchange rate you see in Hatch. Our fee is lower than what most banks charge (which is usually about 1% of the money you exchange). We split this fee with our FX partner World First. It works like this:
- Base exchange rate (Interbank rate): 1 NZD = 0.67 USD
- Hatch rate: 1 NZD = 0.665 USD (0.67 - 0.005)
- Bank rate (estimated): 1 NZD = 0.660 USD (0.67 - 0.01)
*If you want to make a deposit or withdrawal over $100,000 NZD, contact us to discuss a reduced fee
Tax reporting fees:
Once you have made an investment through Hatch, every part of your US tax requirements is automatically taken care of for you. The processing fees are deducted from your available balance in Hatch and paid directly to our partners. Hatch doesn’t take a cut:
- One-off W-8BEN processing fee: When you make your first deposit, a one-off $1.50 USD fee is deducted to cover the cost of processing the compulsory W-8BEN tax form.
- Annual tax return filing fee: An annual $0.50 USD fee will be deducted from your available balance to cover the cost of processing your annual US tax return.
With Hatch, there are no hidden fees, and no management or custodial fees.