Save faster.
Welcome to Wedge. And welcome to reaching your savings goals faster.
Don't save your questions. We've got answers.
Wedge Management Limited (Wedge) is a proudly New Zealand owned and operated fund manager, with the goal of bringing fairness to financial services.
The team at Wedge have a long history in the professional management of large investment funds on behalf of hundreds of thousands of New Zealanders. Our decades of collective experience managing low risk portfolios affords us a unique view of just how appallingly savers in New Zealand are being treated. It also presents a great opportunity to do something about it.
Wedge knows what people should be earning on their money and by delivering it to savers at scale we hope to help rid New Zealand of low interest bank accounts, forever.
Wedge is licensed by the Financial Markets Authority (FMA) as a retail managed investment scheme manager. Wedge's licensed activities are regulated by the FMA, and day-to-day supervision of the Wedge Savings Fund is overseen by The New Zealand Guardian Trust Company Limited.
Wedge is a digital savings provider offering an online savings account, which brings the best of a bank savings account into a managed fund.
Savings Funds are great for savers because they offer a competitive return and free access to your money.
You can easily open an account by downloading our app through the App Store or Google Play and following the simple instructions. This should take only a few minutes.
Important notes:
The Wedge Savings Fund is not a bank account but an income-orientated managed fund.
The Fund may temporarily restrict or suspend withdrawals in certain extreme circumstances.
Before opening an account, it’s important you read and consider the fund's Product Disclosure Statement. This document will give you important information to help you decide whether this is the right product for you.
There is also additional information about the Wedge Savings Fund on the Disclose Register.
New Zealand’s savings crisis.
An astounding 56% of New Zealanders surveyed in the Canstar Consumer Pulse Report 2024 are living payday to payday, up from 52% the year earlier. While nearly half of all respondents said they don’t even have enough put away to survive for two months without a regular wage.
Our lack of savings is a huge societal and economic problem which is contributing to rising rates of theft and violent crime, mounting mental health illnesses, and terribly low productivity. A contributor to this crisis is the shocking amount of money New Zealanders miss out on by having to accept the low interest rates paid on bank savings accounts.
Wedge puts this number at $3 billion a year currently – a truly outrageous amount of money that should be in New Zealanders pockets.
Big bank profits.
New Zealand’s four big Australian-owned banks are some of the most profitable banks in the world. This is in large part due to the terribly low interest rates they offer us on our savings.
Our Minister of Finance, Nicola Willis went as far as saying competition between our four biggest banks “resembles a cosy pillow fight, with profit margins coming first and everyday Kiwis coming second”. And the Commerce Commission recently said, “competition isn’t working as it should in this sector, and Kiwi consumers are missing out as a result”.
This is the world’s biggest bank robbery. It’s just the banks that are doing the robbing.
Wedge was built around its team of experienced investment specialists. Dave, Ange, and Lyle have almost 60 years of collective financial markets experience. Prior to launching Wedge, they worked together at one of New Zealand’s largest fund managers, where they helped run one of the country’s largest and most awarded cash and fixed income businesses.
Andy is the sole non-investment professional founder. He’s one of New Zealand’s most experienced strategy and marketing professionals, and is passionate about great customer experience.
Wedge is also supported by a group of exceptional business partners including:
Service Provider Software Development and Maintenance: Edition Studios
Online Security: Sonar Cloud, Snyk, AWS WAF and Microsoft
Legal Counsel and Tax Advice: Chapman Tripp
Accounting: Deloitte
Fund & Scheme Supervisor: The New Zealand Guardian Trust Company Limited
Custodian, Registrar, and Fund Administrator: Adminis NZ Limited
Auditor: Grant Thornton
Quite a lot actually.
Firstly, “wedge” is slang for money. And given our mission is to put billions of it into the rightful pockets of New Zealanders, we thought it was a fitting name for our company.
The wedge is also a common symbol used to signify disruptive business models.
Our hope is the Wedge Savings Fund will drive a wedge into New Zealand’s savings market, displacing poorly suited bank savings accounts and traditional managed funds, as the better way to save faster.
Our mission is to save New Zealanders a billion dollars in interest they currently miss out on every year.
Wedge estimates New Zealanders missed out on approximately $3 billion dollars in 2024 by having their money sitting in low interest bank savings accounts.
The Wedge Savings Fund is a managed fund which offers a competitive Set Rate and ready access to your money.
The Fund invests your money into wholesale cash and high-quality fixed interest assets which earn interest. This interest is then used to pay the Set Rate on the Fund.
Wedge has designed the Fund this way to be an attractive alternative to an on-call bank savings account.
Important notes:
The Wedge Savings Fund is not a bank account but an income-orientated managed fund.
The Fund may temporarily restrict or suspend withdrawals in certain extreme circumstances.
Before opening an account, it’s important you read and consider the fund's Product Disclosure Statement. This document will give you important information to help you decide whether this is the right product for you.
There is also additional information about the Wedge Savings Fund on the Disclose Register.
All money in the fund is held in bare trust with a registered New Zealand bank. And the fund’s investments must always carry an average 'Investment Grade' credit rating.
No investment is ever completely safe. However, it’s extremely rare for an Investment Grade entity to get into financial difficulty.
To further protect the fund, our team of highly experienced investment professionals also actively manage every investment.
Wedge also stands behind the fund and will top-up the fund with its own money in the unlikely event that the fund's investments do not earn enough to pay the Set Rate.
For more information, please refer to our Product Disclosure Statement.
The fund’s investments must maintain at an average 'Investment Grade' credit rating at all times.
As at 20 May 2025, the fund’s weighted average credit rating was AA-.
This is the rate of return your money is earning when it’s invested in the Wedge Savings Fund.
The Set Rate offered by Wedge on the fund is an annualised pre-tax rate of return which will be continuously published on the Wedge website and on its app.
The Set Rate is a variable rate subject to change without prior notice – the same way an on-call bank savings account works.
For more information, please refer to our Product Disclosure Statement.
Yes.
The Set Rate you earn on your money in the Wedge Saving Fund is a daily variable interest rate. Therefore, it is subject to change without notice. This is the same as how an on-call bank savings account works.
Wedge displays the current Set Rate on its website and app.
Yes.
Wedge Management Limited is the manager of the Wedge Savings Fund. The company holds a Managed Investment Scheme manager's licence issued by the Financial Markets Authority.
Wedge is also supervised by The New Zealand Guardian Trust Company Limited (NZGT), who oversee and monitors our operations. NZGT is one of the longest standing and most awarded supervisors in the country.
Wedge has designed the Wedge Savings Fund to ensure members are always put first.
Members earn the Set Rate on the fund before Wedge is eligible to earn anything.
Wedge only earns money if the fund generates a return above the Set Rate, once members have been paid their interest first and in full each month.
For more information, please refer to our Product Disclosure Statement.
Wedge has revolutionised the New Zealand savings market by reordering the way managed funds work. This is so that the Wedge Savings Fund can work for both cautious investors and savers.
The fund pays its members a Set Rate on their money before Wedge is eligible to earn anything. Wedge only gets to keep the return the fund generates above the Set Rate, if there is one. This is the opposite of how a traditional managed fund works.
In flipping the traditional managed fund model on its head, we’ve ensured there is absolutely no question about who is working for who (hint: we work for you!) and who our priority is (hint: it’s you!).
For more information, please refer to our Product Disclosure Statement.
The Wedge Savings Fund invests your money into high-quality, low-risk cash and fixed interest assets which earn interest. This interest is then used to pay the Set Rate the fund offers.
When compared to a standard bank savings account rate, returns from our managed fund look very good indeed.
For more information, please refer to our Product Disclosure Statement.
The fund’s administrator, Adminis NZ Limited (FSP507546), values the assets held in the Wedge Savings Fund each day. Adminis is an independent and regulated asset valuation specialist.
Wedge does not charge a management fee on the Wedge Savings Fund.
Instead, Wedge only gets to keep what’s left over of the fund’s return once it has paid you the advertised Set Rate. This is regarded as a performance-based fee for the purposes of the Financial Markets Conduct Act 2013. If there is no excess fund return, Wedge does not receive a fee.
You might also want to check out the FAQ "How do I know Wedge is always working for me?".
For more information regarding fees, please refer to our Product Disclosure Statement.
Wedge Management Limited holds a Managed Investment Scheme manager's licence, regulated by the Financial Markets Authority and a registered Financial Services Provider in New Zealand.
Wedge is supervised by The New Zealand Guardian Trust Company Limited (NZGT), who oversee and monitor our operations. NZGT is one of the longest standing and most awarded supervisors in the country.
NZGT has appointed Adminis NZ Limited (Adminis) as the independent custodian of the Wedge Savings Fund. As custodian, Adminis holds all fund investments for your benefit.
'Investment Grade' is a term given to cash or fixed interest assets which are considered to have a low risk of default. These are assets that are assigned a credit rating of at least BBB- or Baa3 by ratings agencies such as Standard & Poor’s, Fitch, and Moody’s.
While past performance is not a reliable indicator of future performance, there has never been a default of an Investment Grade rated entity in Australia or New Zealand.
Yes.
As an active fund manager driven to lift the wealth and wellbeing of New Zealanders, Wedge has a Responsible Investment Policy that addresses how we incorporate responsible investment considerations, weigh environmental, social and governance (ESG) factors, and integrate our values into the investment decisions we make.
You can find our Responsible Investment Policy here.
No.
Wedge does not currently offer financial advice, sorry.
Bonds are fixed interest assets that represent a loan made by a lender (investor) to a borrower (typically a corporation or government).
In return for their lending money, the owner of the bond receives interest and the return of the bond's face value at maturity.
Any New Zealand resident aged 18 years or over is welcome to join Wedge.
To open an account, you must have a valid NZ driver licence or NZ passport, an IRD number, and an email address.
We are working on welcoming under 18s and joint account holders onto the platform shortly.
To open a Wedge account, you’ll need a valid NZ driver licence or NZ passport, an IRD number, email address, and just a few minutes of your time.
Simply download the Wedge app from the App Store or Google Play and follow the instructions.
To make the Wedge Savings Fund as accessible as possible, we have chosen to not have any minimum account balance requirement.
However, if your balance is zero for a year or more, Wedge does reserve the right to close your account.
The Wedge Savings Fund allows you to make withdrawal requests via the app without penalty.
Simply tap the ‘Withdraw’ button and follow the instructions. If you haven’t provided us with your bank account details yet, we will need to verify that it is a New Zealand bank account and that you’re one of the named owners of the account. Don’t worry, verification is an easy, one-time process that is done automatically within the app.
Your withdrawal will typically be processed and in your account the next business day. However if you make a withdrawal after 4pm the withdrawal will not be processed until the following business day, and in your account the business day after that.
Important note:
The fund may temporarily restrict or suspend withdrawals in certain extreme circumstances.
Before opening an account, it’s important you read and consider the fund's Product Disclosure Statement.
This is your account number at Wedge.
You can find by tapping 'More' and then 'Personal details' in the app, or by clicking 'Add money' where it is called your 'Reference'.
It's really important you include this number in either the 'Reference' or 'Particulars' field when transferring money into your Wedge account from your bank. That way, we know it’s your money when it arrives.
We’re really sorry for the inconvenience this has caused you.
If your ID verification failed it means we could not match the details you entered to a registered database.
Our team is here to help. Please email us your ID and proof of address to support@wedgemoney.co.nz and we hope to have you sorted quickly.
If you can't remember your password you can click 'Reset password' on the login screen, and we will send you an email with a temporary password.
If you've lost access to your email, please email us at support@wedgemoney.co.nz. You should expect a response from us within 24 hours.
This might seem strange when you’ve only ever saved through a bank account, because banks usually only add interest to your account once a month.
Wedge goes one step better, displaying your balance including the interest you’ve earned up to the previous business day. Helping you stay more in touch with your money.
Then, at the beginning of each month, the interest you've earned during the previous month is automatically reinvested in the fund to ensure your money compounds over time. This purchase of additional fund units in the fund will appear in your transactions.
Yes.
The interest you earn on your balance accrues daily and is paid and reinvested monthly. Which means, each month you will earn our great rate of return on your new balance.
Yes.
But Wedge only welcomes businesses and trusts onto the platform by appointment. Please email support@wedgemoney.co.nz to express your interest in joining.
Not at the moment, sorry. But we’re working on it.
We’re really sorry for the inconvenience this has caused you. Please email us at support@wedgemoney.co.nz. We will respond to you within 24 hours.
In the meantime, rest assured your account will continue to earn our great rate of interest.
If you close your account we will pay the balance on your account to your verified bank account.
Please note, when making a withdrawal, Wedge is required to deduct the tax you owe Inland Revenue on your investment in the fund. Therefore, when making a full withdrawal from your Wedge account, the amount you receive in your bank account is likely to be less than the balance that was shown in the app, prior to making your withdrawal request. This is because your balance in the app has not had the required tax deducted from it yet.
Wedge will pay the tax you owe Inland Revenue on your behalf. Wedge doesn’t charge penalties or withdrawal fees on our accounts.
The Wedge Savings Fund trust account is held with the BNZ.
The account is in the name of 'NZGT ASF Wedge Savings Scheme' (NZGT stands for New Zealand Guardian Trust Company Limited, the fund's supervisor).
This is to ensure your money is safeguarded at all times and is never mixed with Wedge money.
Yes.
Wedge ensures you and your money are secure from the second you sign up. We achieve this in several ways:
• Strict identity checks.
Powered by sophisticated machine learning, Wedge through its identity verification partner CloudCheck, can quickly and thoroughly identify people to prevent bad actors from setting up accounts.
• Biometric security.
Every smart device is attached to your biometrics. So, if your phone is stolen, or your account is logged into on a new device, the same checks will apply.
• Bank account verification.
Wedge will only authorise payments from your Wedge account to a bank account that has been verified as being yours, by using the open finance experts at Akahu.
Wedge takes the security and confidentiality of your personal information very seriously.
We use secure data centres with restricted access to store and process your data. All member data is encrypted at rest and we enforce HTTPS for all communications to maintain confidentiality and integrity.
Our public-facing Application Programming Interfaces (APIs) are protected behind the Amazon Web Services (AWS) Web Application Firewall (WAF), which helps block common threats such as SQL injection, cross-site scripting (XSS), and other web exploits.
Wedge also utilises Multi-Factor Authentication (MFA) to secure access to our cloud infrastructure.
This is an important security measure that Wedge uses to ensure your money is always returned safely to you.
Bank verification also forms an important part of our Anti-Money Laundering and Countering Financing of Terrorism Programme.
Bank verification is a one-time process that is easily done within our app. Simply follow the instructions after tapping the ‘Withdraw’ button. Your money will then be transferred to your verified bank account within two business days.
Yes.
Wedge is required to comply with all relevant laws and regulations – and when you run a financial services business there are a lot of them! This includes adherence to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
• Create and use a strong password
• Never share your password or Wedge ID
• Enable multi-factor authentication on your device(s)
• Use a secure connection and be extra careful when on public WiFi
• Only download the Wedge App from official app stores.
If you get a suspicious call, email, link, or text from someone pretending to be from Wedge, reach out to us at support@wedgemoney.co.nz for assistance.
Do not click on any suspicious links or respond to any unknown texts; and if you doubt a call is legitimate, hang up immediately and call us on 09 959 3343 if during office hours (9am to 5pm Monday to Friday).
Alternatively, you can email us details of the suspicious activity and we’ll get back to you once we have investigated the situation.
If you think you might have been the victim of a scam, or you notice anything out of the ordinary with your Wedge account, call us on 09 959 3343 during office hours (9am to 5pm Monday to Friday) so we can take the necessary actions.
Alternatively, you can email us details of the suspicious activity at support@wedgemoney.co.nz, and we’ll get back to you once we have investigated the situation.
Yes, on some phones you are able to add facial recognition to specific apps as an extra security measure.
If you have an iphone, just hold your finger on the Wedge app icon, and follow the prompts. For other types of operating system see the manufacturers guidance.
Not yet, sorry. But we’re working on it.
You can do this by bank transfer into the Wedge Savings Fund trust account. Simply set up the trust account as a payee with your bank then transfer the funds.
Account name: Wedge Savings
Account number: 02-0200-0127022-000
Reference: Your unique Wedge ID which can be found in the 'Add money' or 'Personal details' sections of the app.
Wedge is also listed as a payee in your bank app, under the exact name:
NZGT ASF Wedge Savings Scheme
It is very important you include your Wedge ID in either the 'Reference' or 'Particulars' field of the transfer. That way, we know it’s your money when it arrives.
No, sorry. We are currently working on more ways for you to add money to your Wedge account though.
We’re sorry to hear that. We know this can be unsettling. Please send us an email to support@wedgemoney.co.nz and we’ll track it down for you.
To help speed up the process, please include the following details in your email:
• The name on your Wedge account
• Your Wedge ID
• Which bank you transferred your money from
• What the amount was that you transferred
• The date you made the transfer
Your money begins earning the Set Rate of interest from the next business day after it has been received and assigned to your Wedge account.
The easiest and safest option when making a payment to your Wedge account is to search the list of registered payees at your bank.
The Wedge Savings Fund is a registered payee with all major banks. It can be found listed as: NZGT ASF Wedge Savings Scheme
Alternatively, you can use the bank account details found in the Wedge app.
Please don’t forget to include your Wedge ID in either the 'Reference' or 'Particulars' field, so that we can identify it’s your money when it arrives.
Most New Zealand banks are also in the process of introducing a ‘Confirmation of Payee’ service. The new service will enable you to check if the account name and account number match before making a payment. This will reduce the risk of mistakenly paying the wrong person and can help avoid scams.
No.
Wedge Management Limited is a licensed fund manager, and is regulated by the Financial Markets Authority.
Therefore, any investment in the Wedge Savings Fund will not be protected by the Depositor Compensation Scheme once introduced under the Deposit Takers Act 2023 (expected to be 1 July 2025).
Great question!
This is another benefit of saving through a Portfolio Investment Entity (PIE) rather than a standard bank account.
The fund’s administrator will deduct the tax you owe from your balance when you make a withdrawal from your Wedge account and again soon after the end of each tax year. This means you will earn interest on your higher pre-tax balance throughout the year.
If you saved through a bank, Resident Withholding Tax (RWT) would be deducted for your account each time interest is paid.
The Wedge Savings Fund is a multi-rate Portfolio Investment Entity (PIE).
This means you’ll pay tax on the interest you earn in the fund, based on your Prescribed Investor Rate (PIR).
The fund’s administrator will deduct and pay the tax you owe to Inland Revenue from your Wedge account each time you make a withdrawal from your account and again soon after the end of the tax year.
The tax you owe will be calculated based on your PIR at that time.
The Wedge Savings Fund is a multi-rate Portfolio Investment Entity (PIE).
As well as it being a smart way to lower your tax bill, saving through a PIE can also simplify things. That’s because the fund is responsible for calculating and paying your tax on your behalf. When the time comes, the fund’s administrator will make the necessary deduction from your account and pay Inland Revenue on your behalf. This will happen each time you make a withdrawal from your Wedge account and again soon after the end of the tax year.
It’s your responsibility to ensure we have your IRD number and your correct Prescribed Investor Rate (PIR). If you don't give us the correct PIR, you could end up either over or underpaying tax, and having to tidy it up in your tax return.
When available, you will be able to view and download your PIE Tax Certificates from the Wedge app by tapping 'More' in the bottom toolbar and going to 'Documents'.
Your PIE Tax Certificate will show your Prescribed Investor Rate (PIR), the income and tax credits you received, and the tax you’ve paid. They will most likely be published in May of each year.
Your PIE Tax Certificate provides a breakdown of the income you earned on your Wedge account, any tax credits applied and the tax you’ve paid in that tax year.
These certificates, when available, can be viewed and downloaded from within the Wedge app under 'More' in the bottom toolbar and going to 'Documents'.
They will most likely be published in May of each year.
We rely on you providing us the correct Prescribed Investor Rate (PIR) when you open your Wedge account.
It is very important you give us the right PIR and that you let us know if your PIR changes.
If it turns out that your correct PIR is higher, you will be required to pay any tax shortfalls as part of the income tax year-end process and you may be subject to interest and penalties if the tax is not settled by the due date to Inland Revenue.
If your PIR changes, please email us at support@wedgemoney.co.nz and we’ll update your details right away.
Adminis NZ Limited, the fund’s administrator, calculates and pays the tax you owe Inland Revenue on your behalf.
Adminis provides these services to over 50 fund management and adviser clients across the region, which collectively have over $10 billion under administration.
Please email us at support@wedgemoney.co.nz and we will update it for you.
Your Prescribed Investor Rate (PIR) is the rate our fund administrator will use to calculate how much tax you owe Inland Revenue on the interest you receive on your Wedge account.
If your PIR changes, you will need to email us at support@wedgemoney.co.nz to let us know.
The tax you pay on the income you earn in your Wedge account is calculated at your Prescribed Investor Rate (PIR). This can be either 10.5%, 17% or 28%.
Therefore, anyone in a personal income tax bracket higher than 28% will generally pay less tax saving through a Portfolio Investment Entity (PIE) than saving through a standard bank savings account.
If you wish to delete your account and all associated data, please follow these instructions:
1. Email us at support@wedgemoney.co.nz.
2. Title your email 'delete account'.
3. Clearly provide the following information:
- Your name
- Wedge ID.
4. Clearly explain that you would like to close your account and have all your data deleted from our records.
Please note that we are legally obliged to retain certain data for a period of time. This includes
ID verification data, as well as any anti money laundering and countering financial terrorism information collected, including source of wealth or source of funds documentation.
We must store this information for a period of 7 years.
For tax purposes, all financial records must also be retained for at least 7 years after the end of the financial year to which they relate. Financial records include records required to be retained by section 22 and table 2 of Schedule 3 of the TAA Act.
Following this period, Wedge will securely delete and dispose of all customer data.
If any of your devices have been lost, stolen, or may be at risk please change your password. You can do this by following the steps below:
1. Tap the ‘More’ button in the bottom taskbar
2. Select ‘Security’ and ‘Change password’
If you’ve noticed anything unusual on your account, please contact us right away.
Also regularly reviewing your transactions can help protect your account.
We’re really sorry we weren’t able to answer your question with our FAQs.
Please email us your query at support@wedgemoney.co.nz
You should expect a response from us with 24 hours.
Yes, please! We’d love to hear from you.
Wedge wants to help save New Zealanders billions of dollars in lost interest each and every year. While were not afraid to take this huge challenge on ourselves, we also know it will take a village to get there.
Please email Dave at dave.mcleish@wedgemoney.co.nz to discuss any partnership opportunities you think Wedge should consider.
We’d love to hear from you.
Please email Andy at andy.mcleish@wedgemoney.co.nz
We’re sorry to hear that. Losing your phone can be such a pain!
Please email us at support@wedgemoney.co.nz.
We will temporarily freeze your account until you’re back up and running with a new phone.
Also, don't worry your account will continue to earn our great rate of interest while it’s frozen.
Your money is always kept separate from Wedge money.
The investments held by the Wedge Savings Fund are in the name of the custodian, Adminis NZ Limited. While any cash in the fund is held in trust at a registered New Zealand bank in the name of the supervisor, The New Zealand Guardian Trust Company Limited.
That way, no matter what happens to Wedge your money will not be impacted.
Yes, please! We’d love to hear from you.
Wedge wants to be New Zealand’s most trusted savings partner. To achieve this lofty goal, we know we're going to have to keep getting better every day. And without your feedback, that’s going to be a whole lot harder.
So, please let us have it, by emailing us at: feedback@wedgemoney.co.nz.
Wedge Management Limited
Level 1
St Kevins Arcade
183 Karangahape Road
Auckland Central
1010
New Zealand
Welcome to Wedge. And welcome to reaching your savings goals faster.