Summary: The bank does not directly offer the ability to buy or sell shares after they closed their ANZ Share Investing app in 2022. This means that ANZ customers must deposit Australian Dollars (AUD) from their accounts to a licensed share brokerage platform. We recommend eToro as it supports over 3000 shares, ETFs, commodities, and more. It is registered with ASIC in Australia and adheres to all relevant financial regulations in the country.
- Regulated in Australia and trusted by over 30 million investors.
- Invest in over 3,000 shares, ETFs, commodities and other assets.
- Deposit methods include Bank Transfer, POLi, Debit Card, Credit Card, and more.
Can I Buy Shares with ANZ?
The ANZ Share Trading application stop providing services in 2022 and all existing customer accounts were transferred to CMC Markets Invest in 2023. However, this is not considered a secure or trustworthy platform. Our expert team recommends using a broker that is overseen by the Australian Securities & Investments Commission (ASIC) to ensure regulatory compliance in Australia.
How to Buy Shares with ANZ Bank
ANZ customers who are interested in purchasing shares must use an ASIC-licensed broker. The best option for Australian investors is eToro due to its wide range of over 3000 shares, ETFs, commodities, indices, forex, and more. The platform has no minimum deposit requirement to open an account, and the accepted AUD payment methods are POLi, credit card, debit card, and bank transfer.
To get started with an ANZ Bank account, follow this simple guide:
- Open Account: Register for a free account on eToro by completing the verification requirements.
- Deposit AUD: Connect your ANZ Bank account and deposit Australian Dollars.
- Find Shares: Search the eToro platform to find the asset you want to buy.
- Buy Asset: Input your desired purchase amount and execute your trade.
About ANZ Bank
ANZ Bank, short for Australia and New Zealand Banking Group Limited, is one of the largest and most prominent financial institutions in the Asia-Pacific region. Founded in 1835, the bank has its headquarters in Melbourne, Australia, serving diverse clients, including individuals, small businesses, and large corporations. The bank offers a comprehensive range of financial products and services, such as savings accounts, loans, investment solutions, and insurance.
The bank is renowned for its commitment to innovation, often leveraging cutting-edge technology to enhance customer experience. Its global presence extends to over 30 countries and is widely recognised for its corporate responsibility initiatives, including sustainability and community programs. It has over 1,700 branches across Australia and New Zealand and a large network of ATMs. They also offer 24/7 online and mobile banking for their customers.
Share Trading Fees
Thinking about stepping into the stock space with ANZ? Understanding the fees involved is crucial. Here's a brief rundown of the potential costs you may face when using a brokerage platform:
- Deposits: Generally, SANZ doesn't charge customers for transfers to authorised brokers. But if you're eyeing a platform that operates in USD, watch out for foreign exchange fees. Our studies show that PayID transfers are your best bet for affordable investing experience.
- Spreads: Trading on certain platforms may subject you to a spread of around 1%. For instance, eToro has a slim spread, which could lead to long-term financial benefits.
- Withdrawals: Be prepared for a 5 EUR charge when moving Australian dollars to your ANZ account from eToro.
Choosing eToro for your stock trading ventures gives you the advantages of quick transactions, fair fee schedules, and a range of options. Finding a broker with transparent pricing is essential for cost-conscious investors.
Final Thoughts
To sum up, the ANZ Share Investing service has now closed, and customers will need to use an alternative platform to buy and sell shares with their bank accounts. A great option is the eToro trading platform, which offers fast deposits via ANZ Bank transfers, along with 0% commission on share trading. It is also regulated by the ASIC, providing Australians with a secure, trusted, and transparent environment to trade thousands of shares and other assets.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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