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Funding & Withdrawals
What is “funding” my goal?

Funding your goal is just the process of putting in money to start investing to achieve your financial goals. This happens after you create and enter preferences for your goals. You can either fund one goal at a time or fund a few goals together. It’s better to fund them together to save costs and time. However, you can also fund different goals again and again at different times according to your convenience.

How do I deposit funds into my goals?

You can deposit funds through a payment gateway or a transfer from your bank account/ your joint bank account when you fund a goal. Just select either “Payment Gateway” or “Bank Transfer” once you have entered funding amounts for your goals. If you transfer from your bank account make sure that you input your NRIC (or passport no. for foreign residents) in the “recipient reference” of your bank’s platform. We also allow for “shopping cart” funding of goals where you can fund a few goals at once. Not funding each goal individually will save you costs and time.

What is Akru's RHB Bank Berhad account number?

Our RHB Bank Berhad account number for your transfers is 21412900322937 (account name: Universal Trustee (Malaysia) Bhd For Akru Now Sdn Bhd). Be sure when you are setting up transfers to use your NRIC (or passport no. for foreign residents) in the recipient’s reference.

Do I have to pay fees for online cash transfers?

We offer both free and fee transfer methods. It’s free if you transfer directly from your bank account. If you use our appointed third-party payment gateway for online transfers, the fees are as follows:

As we are a startup, the passing of commercial cash transfer fees to the customer will go a long way in helping us maintain your account while allowing us to focus on investing for you. In exchange, we promise to keep our fees low while absorbing all trading costs and give you a product you love using.

How can I reduce the impact of cash transfer fees?

Akru is all about low costs and we have endeavoured to absorb all trade-related costs like brokerage, custodian and remittance fees to give you a seamless experience without any hidden costs. We also don’t charge sales fees and our pricing is very cheap. Therefore, we would love for cash transfers to be a low-impact cost for our investors. While the cash transfer fees of RM1-2 may seem small, it could be big if you’re transferring only a small amount. Here are some ways to reduce/eliminate the transfer fee impact:

  • combine fundings for various goals into one (we allow you to do that)
  • direct transfer from your bank, bypassing third party gateways, is totally possible for single or auto/recurring investments: just use your NRIC (passport no. for foreign residents) in your bank reference to us.
  • introduce your friends and get a promo code from us!
How do I set up regular investing with Akru?

You can set up automatically recurring investments either from your bank or with our payment gateway. The former is free whereas the latter is RM2 per setup and RM1 per transfer. First click "Invest Now". Specify amounts for the different goals you want to save for. Select "Make this regular". For payment gateway setups, your regular investment will be activated on the date you specify and continue automatically on your specified intervals thereafter subject to sufficient funds in your bank account. For setups from your bank, fill in the “standing instruction” form online and add your NRIC (or passport no. for foreign residents) in the recipient reference.

What if I want to deposit a big amount and can’t do it online?

Payment gateway and online bank transfers only allow transfers of up to RM30,000. To deposit an amount higher than RM30,000, you can either use a cheque or perform a fund transfer from your bank account. Fund your goal(s) the normal way by clicking "Invest Now", then select “Online Bank Transfer'' and proceed to bank in your cheque into the custodian bank account: RHB Bank 21412900322937 (account name: Universal Trustee (Malaysia) Bhd For Akru Now Sdn Bhd). Then alert us by email.Fund your goal(s) the normal way by clicking “Invest Now”, then select “Online Bank Transfer'' and proceed to bank in your cheque into the custodian bank account: RHB Bank 21412900322937 (account name: Universal Trustee (Malaysia) Bhd For Akru Now Sdn Bhd). Then alert us by email. If you’re using an electronic or telegraphic transfer, do enter your NRIC (or passport no. for foreign residents) in the description. Your funds would then be invested once they are credited into the custodian bank account.

How regularly should I invest?

You have full discretion on how much and when you want to invest. You can skip a month or two, and then resume. But fixed regularity is best for achieving goals because emotions can get in the way of investing discipline. It’s best to set up an automatic monthly investment on our platform or make free automatic recurring transfers from your bank. If you do the latter, make sure you include your NRIC (passport for foreign residents) as the recipient reference.

Where can I see all my investment activities?

In your dashboard, you will be able to see your total assets, transactions and returns.

How and when do I receive my statements?

You will be emailed a statement with a record of your transactions and investments monthly. If you conduct one or more transactions on any given day you will also be emailed a statement at the end of that day. You can also see a record of transactions by going to the dashboard.

How long does it take for my money to be invested?

When we receive your money, it takes about 2-3 business days for your fundings to be invested. This is to account for remittance to our broker in Singapore as well as the 12-hour time difference with the US market. Occasionally, public holidays in the US will add a few more days to the implementation.

How does my money get allocated if I have multiple goals?

We get all the information from your funding inputs. There would be no issue with payment gateway transfers as the matching would be perfect. There would also be no issues with regular investing which have been set up beforehand.

For direct transfers from your bank account which avoid fees, we will apply the following rules:

  • If a bank transfer is less or more than your inputs, we will invest goals from the highest amount to the lowest with any balance uninvested. We will prompt you to input goal funding for the balance and invest only when that is done.
  • If a bank transfer is made without inputs. We will prompt you to input and invest only when that is done.
Is there a fixed amount I need to invest?

There isn’t. It’s all up to you. You can start with any amount and continue with any amount. We would encourage you to set up automatic recurring transfers to your goals though as that would make sure you won’t forget to invest!

Is there a minimum investment?

With Akru, you can invest any amount you wish, no matter how big or small. There aren’t any restrictions on that but bear in mind the impact of online cash transfer fees.

What currencies can I use to fund my account?

You can fund your account with RM only. We will then convert the RM into USD using the prevailing exchange rates.

Why does Akru convert my money into USD?

We invest a lot in US-listed ETFs that are priced in USD (even if they invest in other regions). If you have goals that require ringgit investments, we would not convert that to USD.

Is an initial deposit required to be a customer?

There is no minimum initial deposit to open your account. Furthermore, you do not have to hold a minimum balance, there are no extra fees for inactivity.

How do I withdraw money from my goal(s)?

Go to your dashboard, select Withdraw. Enter the amounts you wish to withdraw from specific goals. Beware that withdrawing too early may affect your goal planning and might incur realised losses.

How soon can I get the funds after I submit my withdrawal request?

The withdrawal process may involve disposal of financial assets and transfer of funds from overseas. This may take up to 5-6 business days but may also be faster. We will endeavour to give you withdrawal proceeds as soon as they become available.

Can I withdraw to a bank account that is different from the one I originally made the deposit?

Withdrawals can go to another bank account as long as the bank account has the same legal name associated with the account and after you add details for that bank account in the profile section of Akru website.

Can I withdraw in USD to a USD account?

Sorry you can’t. When you withdraw funds, any USD proceeds from the sale of securities will be converted to RM. Akru has not been set up to transfer USD directly to you.

Where do dividends go?

We automatically reinvest any dividends you receive.