Hatch investment service?

[Mickey]

One disadvantage i see here is that they do not provide a foreign exchange account, forcing you to accept the current day's exchange fees immediately on transaction.

Looks like the Hatch account is a foreign exchange account if the chat session I had on their site is anything to go by - see below:


Hi - do dividends and proceeds from sales remain in US Dollars in the Hatch Account or are they converted to NZ Dollars on whatever the exchange rate is at the time?



Hi there Michael,
The dividends are paid back into your Hatch account in USD and will stay there until you choose to withdraw them (back into NZD).
I hope this helps!
Thanks,
Kristen


Yes, I think so. So basically, say I deposit $NZD20,000, which converts to USD at whatever rate is applicable - my Hatch account is in USD. Any dividends or sales go into that account as USD and I can continue to purchase stocks using those USD until such time as I need to top up again



Exactly!! You've got it.
Kristen