Booster Savvy: A Smarter Way to Spend and Earn
Managing money is about more than just spending - it’s about making your money work for you. Traditional bank accounts offer convenience but often fail to deliver meaningful returns. Booster Savvy flips the script, offering an investment account that functions like a debit card but helps your money grow while you use it.
If you’re looking for an alternative to a standard bank account that provides returns on every dollar while keeping your funds accessible, Booster Savvy could be the perfect fit.
What is Booster Savvy?
Booster Savvy is a managed investment scheme that allows you to use your money like a transaction account while earning a Set Return each month. Unlike a savings account that offers interest, Booster Savvy pays returns by allocating additional units to your investment. The fund primarily invests in bank deposits and government securities, aiming to provide a return competitive with on-call bank accounts while keeping capital stable.
Booster also has the potential to provide Bonus Returns, which may be paid quarterly if the fund generates surplus income beyond the Set Return.
How is Booster Savvy Different from a Bank Account?
✅ Earn Monthly Returns – Your money grows with a Set Return, paid in additional investment units.
✅ Full Spending Flexibility – Use your Booster Savvy Mastercard debit card online, in-store, and overseas.
✅ No Monthly Account Fees – Unlike banks, Booster doesn’t charge a standard account fee.
✅ Automated Money Management – Smart tools like Stacks, Salary Split, and Boost help you manage finances with ease.
Booster Savvy is not a bank account—but it provides many of the same conveniences while offering investment benefits.
How Does Booster Savvy Work?
Once you open a Booster Savvy account, you receive a debit card and full access to your money via the Booster NZ app. You can deposit funds, make payments, and withdraw cash anytime.
Earning Returns
With Booster’s Savvy Fund, you earn a Set Return that’s reviewed regularly to stay in line with market conditions. This return is credited monthly as additional investment units, helping your balance grow steadily over time.
Plus, if the fund performs well, you could receive a Bonus Return at the end of each quarter - a nice extra boost on top of your regular earnings.
Right now, the current Set Return is 3.5% per annum (before tax) - a compelling alternative to the average rate of 1.97% p.a. offered by New Zealand banks on call savings accounts.
Please take a look at this Booster Savvy comparison chart for a full breakdown of the differences between Savvy and regular savings accounts.
💡 Important: Returns are not guaranteed and can change based on economic factors like interest rates.
Daily Transaction Limits
To keep your funds secure, Booster applies daily limits on transactions:
NZ Eftpos purchases: $2,000
Online Mastercard payments: $5,000
Apple Pay/Google Pay: $2,000
NZ bank transfers: $9,999
Overseas ATM withdrawals: Set by ATM operator
At this time, direct debits and international bank transfers are not supported, though you can set up recurring payments using your debit card.
Smart Money Management with Booster Savvy
Booster Savvy isn’t just about earning returns—it also helps you manage your money better with intuitive tools:
1. Stacks: Organise Your Money Like a Pro
With Stacks, you can split your funds into different categories for better budgeting. Whether you’re saving for bills, travel, or a new gadget, you can allocate money to each Stack while still keeping it accessible for spending.
2. Salary Split: Automate Your Savings
Want to make sure you’re consistently saving? With Salary Split, you can automatically distribute your paycheck across different Stacks when it hits your account. This helps ensure that bills, savings, and everyday spending are all covered.
3. Boost: Save Without Thinking About It
The Boost feature rounds up every transaction to the nearest $0.50, $1, or $5, putting the difference into your savings Stack. Over time, these small amounts can grow into a meaningful sum!
Fees & Costs: What You Need to Know
One of Booster Savvy’s biggest advantages is its lack of monthly fees. However, some transaction-specific fees may apply.
💡 Good to Know: Booster may pass on fees for certain services, such as replacement cards or chargeback disputes, but standard account operations are fee-free.
How to Access Your Money
One of the key advantages of Booster Savvy is full liquidity—your money is accessible whenever you need it. You can:
✔ Make EFTPOS payments in NZ and overseas
✔ Use Apple Pay or Google Pay for contactless transactions
✔ Withdraw cash from ATMs (NZ and overseas)
✔ Transfer money to NZ bank accounts (instant and scheduled payments)
🚫 What You Can’t Do: Booster Savvy does not support direct debits or international bank transfers.
How Safe is Booster Savvy?
Security is a top priority, and Booster provides several layers of protection:
🔒 Instant Card Locking – Lost your card? Lock it instantly via the app.
🔒 Two-Factor Authentication – Extra login security to protect your account.
🔒 Fraud Monitoring – Transactions are monitored for suspicious activity.
If fraudulent transactions occur, Booster may be able to recover lost funds, depending on the circumstances.
Who Should Consider Booster Savvy?
Booster Savvy is ideal for Kiwis who:
✅ Want better returns than traditional transaction accounts
✅ Need easy access to money for everyday spending
✅ Prefer a fee-free banking alternative
✅ Enjoy smart money management tools
If you regularly use direct debits or make international transfers, Booster Savvy may not be the best option.
Final Thoughts: Is Booster Savvy Worth It?
Booster Savvy bridges the gap between a spending account and an investment fund, giving you the best of both worlds. With competitive returns, no account fees, and smart money management tools, it’s a great alternative to a traditional bank account.
However, since it’s not a registered bank account, it does come with some limitations (no direct debits or international bank transfers).
If you’re looking for a flexible way to manage everyday spending while growing your savings, Booster Savvy is worth considering.
🔗 Learn More & Sign Up: Booster Savvy Website
🔗 Still have questions? Take a look at the Booster Savvy Help & Support page for a extensive list of frequently asked questions or download the Booster Savvy informational flyer here.
