Investing FAQs

View frequently asked questions about investing with UDC.

Does UDC have branches across New Zealand?

No, but you can visit your local ANZ branch to make deposits.

How do I invest with UDC?

Simply complete the application form for the relevant investment product:

1. Complete the form and remember to sign it.

2. Attach supporting identification and address verification documents (as listed on the application form. These documents need to be verified or certified as true copies of the originals).

3. Return your signed application form and supporting identification and address verification documents to UDC at:

UDC Investments
PO Box 91145
Victoria Street West
Auckland 1142

or to any ANZ branch

4. Lodge your funds by direct credit or by cheque deposit at any ANZ branch. Alternatively enclose a cheque made payable to "UDC Finance Limited" with your application form.

If you have any questions on the application process, please call the UDC Investor Services team on 0800 652 832, or visit your nearest ANZ branch.

Does UDC invest overseas?

No, UDC does not lend to companies registered overseas. UDC has a history of providing asset-based finance for New Zealand businesses in backbone industries like agriculture, forestry, construction and transport.

Can I view my transactions online?

Yes. UDC Live lets you access your UDC Call and Secured Term Investments online. UDC Live gives you up-to-date information on your deposits, lets you transact on your Call account, set up new Term Investments, reinvest maturing funds and arrange repayment of matured funds. It also allows you to change your contact details with us. UDC Live is a free password protected service.

How do I access UDC Live?

New users: If you’d like to have access to your investments through UDC Live, please call Investor Services on 0800 652 832 on business days between 8.00am and 5.00pm.

Existing Users: You can access UDC Live via the UDC Live icon on the front page of the UDC website or by typing https://nz.udclive.co.nz/external/login into your internet browser.

Can I withdraw my investment before its maturity date?

The pricing of the UDC Secured Term Investment assumes your invested funds will remain with us until their maturity date. You are not automatically entitled to withdraw your invested funds prior to maturity. However, in certain circumstances, such as the death of the investor or financial hardship, UDC may (but is not obliged to) consider written applications for early withdrawal.

Please note, if UDC does permit withdrawal in these circumstances, it has the right to amend the interest rate on the investment. Any such interest adjustment will be deducted from the balance of the investment as at the day it is repaid.

An investor in the UDC Call Account can withdraw all or part of their investment at any time. The minimum withdrawal is $500. An investor must maintain a minimum investment of $5,000. There are no restrictions on amounts you can deposit or withdraw when using UDC Live.

What is the penalty for early withdrawal of an investment?

For UDC Secured Term Investments, there may be a penalty of up to 50% of the amount of interest earned on the investment you are withdrawing. For details of this penalty you will need to discuss the matter with one of our Investor Services team. Proof of hardship may also be required.

Can I have my investment repaid to an overseas bank account?

Yes, however, we prefer to repay your investment to a New Zealand bank account. Dealing with international banks takes much longer and can cause a delay in receiving funds. An international transaction fee may be incurred.

Can UDC repay my investment by cheque?

UDC is unable to provide payments by cheque.

How do I deposit money into my UDC Secured Term Investment?

Electronic transfer

All electronic transfers should be made to UDC’s bank account 01 0505 0128966 00. Please ensure you put your Investor number or Inland Revenue number in the ‘payee reference’.

Telephone and Internet Banking transfers

Telephone or Internet Banking transfers can be arranged through your bank as a bill payment option for immediate clearance of funds.

Direct Debit

Complete the direct debit form available in the application booklet or call us on 0800 652 832 to request a direct debit form.

Cheque Deposits

Cheques can be attached to the application form printed from this website and posted to UDC Finance Limited, PO Box 91145, Victoria Street West, Auckland, 1142. Cheque deposits may also be made at any ANZ branch. Five working days clearance is required for cheques.

Cheques for UDC Secured Investments must be made out to ‘UDC Finance Limited’.

Cash Deposits

These may be made at any ANZ branch to UDC's account 01 0505 0128966 00. Remember to ensure your deposit is "payee referenced" with either your Investor number or Inland Revenue number.

How do I deposit money into my UDC Call Account?

Electronic transfer

All electronic transfers should be made to UDC’s bank account: 01-0564-0070266-00. Make sure your UDC Call Account number (or IRD number) is loaded as the "payee reference".

Telephone and Internet Banking

Telephone or Internet Banking transfers can be arranged through your nominated bank account as a bill payment option for immediate clearance of funds.

Direct Debit

Complete the direct debit form available in the application booklet or call us on 0800 652 832 to request a direct debit form.

Once a direct debit is set up, you can call us directly and ask for funds to be transferred from your nominated bank account to your UDC Call Account. Deposits require three working days clearance.

Automatic Payments

You can contact your bank to set up an automatic payment ensuring your UDC Call Account number is loaded as the "payee reference". Once your automatic payment is set up, three working days are required for clearance.

Cheque Deposits

Cheques can be attached to the application form printed from this website and posted to UDC Finance Limited, PO Box 91145, Victoria Street West, Auckland 1142. Cheque deposits may also be made at any ANZ branch using a personalised deposit book. Please note, five working days clearance is required for cheques.

Cash Deposits

These may be made at any ANZ branch of ANZ Bank New Zealand Limited to UDC's bank account 01-564-0070266-00. Remember to ensure that your UDC Call Account number is included to enable immediate clearance of funds.

What are the account numbers for electronic transfer or Internet banking payments?

Call Account 01-0564-0070266-000
Term Investment Account 01-0505-0128966-000

How do I make a withdrawal from my UDC Call Account?

Phone us on 0800 652 832 on business days between 8am and 4:30pm. The funds will be available in your nominated account the next business day. The minimum withdrawal is $500. An investor must maintain a minimum investment of $5,000. There are no restrictions on amounts you can deposit or withdraw, provided transactions are made via UDC Live.

Alternatively, put the instruction in writing and either post the original instruction to UDC Investments (PO Box 91145, Victoria Street West, Auckland 1142) or fax it to 0800 655 832 from your nearest ANZ branch.

How do I withdraw money from my UDC Secured Term Investment?

On maturity, you can either complete the repayment section on your maturity notice or put the instruction in writing signed by all account holders and send it to UDC Investments (PO Box 91145, Victoria Street West, Auckland 1142) or fax it to 0800 655 832 from your nearest ANZ branch. You can also manage your maturity instructions in UDC Live.

Can I use a joint account as my nominated account?

Yes you can.

Can I make cheque deposits?

Yes, you can either send the cheque to us at UDC Investments, PO Box 91145, Victoria Street West, Auckland 1142 to bank it, or you may bank the cheque at your nearest ANZ branch quoting the Investor number, or your IRD and reference number for your deposit.

Cheques for UDC Secured Investments should be made out to "UDC Finance Limited".

How do I change my nominated account?

You will need to put the instruction in writing signed by all account holders and send the original instruction along with verified bank account details to UDC Investments at PO Box 91145, Victoria Street West, Auckland 1142.

How can I update my contact details?

If you have an existing UDC investment, you can use this form to change your details, or you can call our Investor Services team on 0800 652 832. You can also update your contact details using UDC Live.

What are UDC’s investment terms?

UDC Secured Term Investment ranges from 1 month to 5 years.

For up to date rates, please refer to our investment rates.

For further information and terms and conditions, please refer to our Product Disclosure Statement.

How can I receive interest from a UDC Secured Investment?

You can choose to have your interest compounded back into your investment, or paid out to your nominated bank accounts. Some variations will apply depending on the term chosen.

Is my interest taxed?

Interest earned on UDC Secured Investments is taxable. Tax or Levy is deducted before interest is paid or compounded.

What happens at the end of the investment term?

What happens to your investment when its term ends, will depend on whether or not you have chosen an auto-renewal option at the beginning of your investment.

If you have chosen the auto-renewal option, we will automatically reinvest your investment for the same or a similar term at the corresponding interest rate on offer at the time. If your new investment is below the minimum principal amount, we will apply the On Demand Rate to your investment. You will have a two week cooling-off period starting from the day we automatically reinvest your investment - during this time you can choose to add additional funds, change the term of your investment, or have your investment paid to you.

If you haven't chosen the auto-renewal option, we'll send you a maturity notice two weeks before your investment term ends. You can complete and return the notice to us, telling us what you'd like us to do with your investment. You will have the option to reinvest, add additional funds or have your investment paid to you. If you haven't confirmed your chosen option before your investment term ends, we will apply the On Demand rate to your investment for 10 business day. On business day 11 we will automatically reinvest your investment for the same or similar term at the applicable interest rate on offer at that time. If your investment is below the minimum principal amount, we will apply the On Demand Rate to your investment. Note: this process may vary depending on the process applicable when you invested. If you’re unsure please call Investor Services on 0800 652 832.

What are the minimum investments?

UDC Call Account: $5,000
UDC Secured Term Investment: $5,000
Minimum balance: $5,000 unless we agree otherwise.

What is an Approved Issuer Levy (AIL)?

If you are a non-resident, you can agree to have deducted the cost of the Approved Issuer Levy (AIL). In this case we will deduct the AIL from the interest to be paid or credited to you and non-resident withholding tax will not be deducted.

As a non-resident investor, you are required to provide us with your overseas address and where applicable, to complete an AIL application which is available on request from us.

What is an On Demand Rate?

The On Demand Rate is the interest rate applied to an investment in certain situations referred to in the current Product Disclosure Statement, in particular, where an investment falls below the minimum required balance and in some circumstances where we haven’t received your maturity instructions. The On Demand Rate is lower than the call interest rate provided to UDC Call Investors. – For more information contact us on 0800 652 832.

 

Call us to discuss your investing requirements: 0800 652 832

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