Everything you need to read and agree to before joining Hatch
Hatch Terms and Privacy
Hatch is a platform that gives you access to world class investment options. Our official company name is Hatch Invest NZ Limited, and we’re part of the FNZ Group. These are the things you should know before you start using Hatch.
You’ll access the US share markets through an individual brokerage account with DriveWealth
DriveWealth is a U.S registered Broker and carries the U.S brokerage account you will access through Hatch.
DriveWealth Customer Account Agreement
When you sign up with Hatch you’ll agree to our terms, as well as DriveWealth’s Customer Account agreement. This is because your USD and US Shares are held in an account for you with DriveWealth, not with Hatch.
The DriveWealth Customer Account Agreement is very important, and you should read it. Some of the key clauses for Hatch accounts are:
- DriveWealth will independently verify your details to comply with US law
- DriveWealth may provide certain services to you with or through affiliates
- It may not be possible to cancel orders once you have placed them
- DriveWealth may remove the ability to buy shares in certain companies and ETFs. You will still be able to sell shares you already own
- It is your responsibility to keep your contact details up to date
- DriveWealth limits their liability to you – they are only liable to you for direct loss, and only where they are grossly negligent or engage in wilful misconduct.
This is a summary only; please read the Customer Account Agreement carefully and make sure you’re comfortable with the terms in it.
Note: Because the Customer Account Agreement applies to ALL DriveWealth accounts, some of the clauses may not apply to your Hatch/DriveWealth account. To avoid confusion, we’ve listed the clauses that may not apply.
Causes that may not apply:
Clause 27: Transfer of Securities and Other Assets into Account.
Only applicable if you already have a US brokerage account and transfer your shares into your
Hatch/DriveWealth account.
Clause 28: Rule 144 or 145(d) Restricted or Control Securities.
Only applicable if you already have a US brokerage and transfer your shares into your
Hatch/DriveWealth account.
These clauses don’t apply:
Clause 17: “Long” Sales; Authorization to Purchase or Borrow Securities.
Only applies to account types that are not available through Hatch.
Clause 14: Margin Accounts
Only applies to account types that are not available through Hatch.
Clause 14: Joint Accounts
Only applies to account types that are not available through Hatch.
Clause 14: Individual Retirement Accounts
Only applies to account types that are not available through Hatch.
Any money in your account that isn’t invested will be swept into a Money Market Fund
Any money in your Hatch account that isn’t invested will be automatically swept into DriveWealth’s Bank Sweep Deposit Program. This process is compulsory under DriveWealth’s Cash Management program. The Disclosure Statement includes important information about the sweep. It’s important you read this before agreeing to open an account with DriveWealth.You should know:
- The Bank Sweep Deposit Program is designed to allocate funds between program banks to ensure that your funds are eligible for the maximum FDIC insurance available (currently US$250,000 per bank and US$1,000,000 in total)
- There may be some limited exceptions to funds eligibility, particularly to the extent that you hold other deposits directly with the program banks
- DriveWealth is acting as your agent in respect of cash management through the Bank Sweep Deposit Program
- You will not earn interest or receive any dividends on any cash amounts with Hatch held through DriveWealth’s Bank Sweep Deposit Programme
The above applies to all Hatch customers (including existing customers) from 15 January 2026, DriveWealth will no longer sweep your uninvested cash into a Money Market Fund.
DriveWealth’s Privacy Policy
DriveWealth uses your personal information to provide brokerage services to you and they’re not subject to New Zealand Law. This means that they may not be required to protect your personal information in a way that, overall, provides comparable safeguards to those required by New Zealand privacy law. When you sign up to Hatch, you get an account with DriveWealth, so you also consent to DriveWealth using your personal information in accordance with their privacy policy.