Hi I’m new here, I tried to tap for my free share. It said I had to top up then when I topped up it said I had to fill in a W8-BEN? I cannot find any details of what this is or where I can fill it out on the site,
Can anyone help?
Its what is required of all financial institutions by the big old USA.
Basically you aren’t going to get taxed by US.
Edit- or at least they tax dividends less
It’s an American tax form, basically confirming you don’t live in the US so your withholding tax rates can be reduced from 30% to 15%, or to 0% if your shares are held in a SIPP
Thanks so much, does anyone know where I access one and how I them send to you freeshare to get my free shares?
You should be one built into the app. I know I did mine as part of the on boarding to the app but this could of changed as that was a while ago
Edit: this is what the website states:
- Once you’ve completed account setup, you’ll be guided through a couple of steps:
- The W-8BEN form to let you invest in US stocks.
- Topping up your account.
- Once you’ve topped up and the money has arrived in your account and you have filled out your W-8BEN form, a mystery share will appear in your General Investment Account on your portfolio screen. We’ll grant the share itself in the coming weeks.
So I imagine it’s after the sign up. It’s worth noting you also need to top up your account and payment to the app take 2 to 3 working hours so it wouldn’t appear in your app till Monday
Hi @MN4538 -
The W-8BEN is the US tax exemption form which can be found by hitting the Profile icon to the top-right of the Portfolio screen, then scrolling down until you see the option to sign in-app. You should also be prompted so sign the W-8BEN if you try to buy a US stock. Just drop me another message here if you can’t find it.
Thanks to @Rollingskies and @Jonny for the help!
Thank you so much I’ll look now xx