What is InvestorPay?

InvestorPay is Computershare’s foreign currency payment solution using Hyperwallet.

What is Hyperwallet?

Hyperwallet is a PayPal Group service and one of the world’s leading suppliers of secure payment and foreign exchange solutions.

Why is Computershare introducing this service?

Due to broader market reform on payments by the Reserve Bank of New Zealand, notably the removal of New Zealand dollar cheques by New Zealand Banks, Computershare is introducing InvestorPay as an efficient way for overseas investors to receive funds directly into their local bank account, in their local currency.

Is Hyperwallet secure?

Hyperwallet was chosen as it met Computershare’s strict compliance and security requirements.

How will the payment process work?

When a payment is made to an overseas investor who previously received their funds by New Zealand dollar cheque:

  1. You will receive an email from Computershare advising the payment is pending, along with a link to the payment advice. This payment advice will also advise you that the payment will be paid via Hyperwallet.
  2. A separate email from Hyperwallet will to be sent to your nominated email address asking you to activate your account with Hyperwallet, select your local currency and nominate a bank account in which to receive the payment. The email will be sent from do.not.reply@hyperwallet.com please ensure you add this to your email address list so that emails are received and not sent to your spam.
  3. The payment will then be made, net of fees, and should be received within a couple of days after registration.

Subsequent payments will not require you to register with Hyperwallet, the payment will automatically be converted to your elected currency and paid directly to your nominated bank account. You will receive an email from Hyperwallet confirming the payment.

You can view the status of your payments and history at any time after you have activated your account by visiting computershare.hyperwallet.com.

What information will I need to register with Hyperwallet?

You will need your CSN or holder number to register with Hyperwallet. You can locate your CSN or holder number in your most recent dividend or interest payment statement. Hyperwallet may require you to meet their Anti Money Laundering checks (AML) by providing proof of identification and address. The required documents will differ depending on the country where you reside. If the registered holder is a company then it will be required to provide additional information including articles of incorporation and director information.

What is the minimum payment amount?

The minimum payment amount is NZ$10.00. For any dividend or interest payment amounts that are less than the minimum, these payments will be withheld until there is a combined payment amount greater than NZ$10.00 at which stage you can request the payment to be made.

Can I receive my payment in a currency that isn’t my local currency?

Payment will be made to a local currency bank account in the country of the registered address held by Computershare. Alternatively, you can elect to receive your payment in US dollars to your local bank account. Please note if you elect to be paid in US dollars it will incur an additional fee from Hyperwallet. You will be notified of this fee before your payment is processed.

If you have an existing PayPal account, you can elect to receive your payment in a number of the major currencies as determined by PayPal from time to time.

What if I am enrolled in a full or partial dividend reinvestment plan?

If you are enrolled in a dividend reinvestment plan you will continue to receive shares in lieu of a cash dividend. Please note that companies can elect to suspend or cancel a dividend reinvestment plan at any time, at which point your dividend will be paid as a cash dividend.

What are the fees?

Fees will automatically be deducted from your payment as follows:

  • Hyperwallet fee - Hyperwallet will charge you a fee equivalent to NZ$2 per payment and will set the rate based on the current market and will retain either 2% or 4% of the foreign exchange spread applied to the exchange rate depending on conversion of the currency you have elected.
  • AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD & USD will be charged at 2% and all other eligible currencies charged at 4%.
  • Computershare fee - Computershare will receive a rebate from Hyperwallet equivalent to NZ$1 per payment and 1% of the foreign exchange spread applied to the exchange rate.
How is the exchange rate determined?

Currency exchange rates depend on the trading market, the value of the transaction and the fee arrangement in place with Hyperwallet that processes the payment. The currency exchange rate is based on the live/market midpoint-rate (interbank) FX spot rate between a currency pair which is updated every 2 minutes. The margin fee is applied to the live/market midpoint-rate (interbank) spot rate.

Are there are restrictions?

Hyperwallet will pay to over 100 countries, the only countries where this service is not available are Cuba, Iran, Iraq, North Korea, Somalia, Sudan and Syria.

What if my bank account has been closed?

If your nominated bank account held by Hyperwallet has been closed, then your payments will be returned to Hyperwallet. You will need to provide your new bank account to Hyperwallet (refer question below) and request the payment be reissued. This will involve a second foreign currency conversion back to NZ dollars and will incur the same Hyperwallet fees described above.

How do I change my bank account?

You can access your details within the Hyperwallet portal by logging into your account at computershare.hyperwallet.com. Select “Add Transfer Method” then enter your new bank account details.

What if I don’t want to use InvestorPay?

If you do not wish to use InvestorPay, you must provide Computershare with details of a New Zealand dollar account with a local New Zealand bank to receive future payments.