Free shares what is W8-BEN

Help 👋
#1

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?

1 Like
#2

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

1 Like
#3
#4

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

1 Like
#5

Thanks so much, does anyone know where I access one and how I them send to you freeshare to get my free shares?

#6

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:

  1. 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.
  1. 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

#7

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! :pray:

4 Likes
#8

Thank you so much I’ll look now xx