Getting started with FirstStep - Part 1

We’ve put this ‘Getting Started’ guide to help you get started with the FirstStep app (iOS / Android). Here, we focus on making contributions into your FirstStep account and making withdrawals. So here goes..

Enable Roundups

You can round up the loose change from your everyday electronic transactions. For example, say you spend $4.50 for a coffee each morning. We round this amount to the nearest dollar, in this case $5.00 and invest $0.50 every time you buy a coffee!

To do this, navigate to the ‘Account’ tab in the FirstStep app, and click the ‘Linked Bank Accounts’. Scroll down to the section titled ‘Linked Bakn Accounts’ and enable roundups by toggling on (purple/red to the right means ON, grey and to the left means OFF).

Set a recurring contribution

You can set a contribution that occurs every week, fortnight or month. For example, you could set a $10 weekly contribution, after which $10 gets contributed to your FirstStep account each week. To do this, navigate to the ‘Home’ tab in the FirstStep app, and click the ‘Getting Started’ card. Scroll down to the section titled ‘Recurring Contribution’ and select the amount you’d like to repeat on a weekly, fortnightly or monthly basis.

Make a one-off contribution

You can choose to make a one-off contribution at any time. Add $5 or $25, the value of a hot dog or a ride share, to boost your portfolio. To do this navigate to the ‘Home’ tab in the FirstStep app, and click the ‘Contributions’ card and scroll down to the ‘One off top up’ section.

Edit your weekly contributions

Each week, we will add up your roundups + recurring contributions + one-off top ups, and transfer it to make investments. However, at any time during the week (and before we transfer it!), you can choose to edit how much we transfer for investments. To do this navigate to the ‘Home’ tab in the FirstStep app, and click the ‘Contributions’ card and click the pencil icon to edit.

Make a quick deposit

You can now make a voluntary on-demand contribution at any time. To do this, navigate to the ‘Home’ tab, click the ‘Contributions’ card, and select ‘Collect Tomorrow Instead’ and we will initiate a transfer at any time of the week. You can edit the amount you transfer by clicking the pencil icon.

Contribute via Bank Transfer

You can now make a voluntary contribution to your FirstStep account directly from your bank. We’ve provided our custodian’s BSB and Account Number, as well as an important Reference number, which you must include when you make the transfer from your bank. To do this, navigate to the ‘Home’ tab in the FirstStep app, and click the ‘Getting Started’ card. Scroll down to the section titled ‘Invest via Bank Transfer’ and then use the information provided to make a transfer via an EFT bank transfer. Don’t forget to include your unique reference number!

Make a withdrawal

To make a withdrawal, navigate to the ‘Investments’ tab, click the icon that looks like ← → and then select the amount you’d like to withdraw.

We are here to help

If you have a question or having trouble with FirstStep, please contact us straight away through the app or by replying to this email at hello@firststep.co. We’ll help as soon as we can.