Can I link my existing bank account to my Superhero Wallet?
You cannot directly link your bank account to your Superhero Wallet. If you want to transfer money from your bank account in near real time, you can use your personalised PayID found in your Superhero Wallet to do so.
How long does it take for funds I’ve withdrawn from my Superhero Wallet to land in my bank account?
The time it takes for funds to land in your bank account may vary depending on your bank. The withdrawal will generally take between 1 to 2 business days to appear in your bank account.
Is there a daily limit for transferring funds out of my Superhero Wallet?
Superhero has a current daily withdrawal limit of $20,000 to help protect your assets from fraud, as stated in our Terms and Conditions.
In certain circumstances we may be able to increase this limit to a maximum of $100,000 where further documentation is provided. Requests to increase your withdrawal limit may take between 1-2 business days to approve. Please contact us via chat or email us via hello@superhero.com.au.
Is there a minimum amount for BPAY transfers?
You must transfer a minimum of AU$100 when making a payment to your Superhero Wallet via BPAY. Heads up: a $1 processing fee will be subtracted from the total payment.
Is there a minimum amount for PayID transfers?
There is no minimum amount for payments made via PayID.
How do I deposit funds using PayID?
To deposit funds using PayID go to your Superhero Wallet, scroll to Deposit Funds, and then Click ‘Copy’ next to the PayID symbol. This is your unique Superhero PayID.
You will then need to go to your bank’s app/website. Once you are there, you will need to select “Email Address” within the transfer section, and enter your PayID found in your Superhero Wallet.
How long does it take for funds to be deposited into my Superhero Wallet?
PayID: Funds will usually arrive in your wallet instantly. Please note: some banks may withhold your first deposit for up to 24 hours.
BPAY: Deposits take 1-2 business days to land in your Superhero Wallet.
Learn more by reading our guide on funding your Superhero account.
Why can’t I withdraw funds from my Superhero Wallet?
There may be a number of reasons why you can’t withdraw funds from your Superhero Wallet. These could be:
Maximum Withdrawal Reached
The maximum amount you can withdraw at any time is shown in your ‘Wallet’ under ‘Total Cash’, subject to the daily withdrawal limits. The daily withdrawal limit for Superhero accounts is $20,000.
Trade Settlement Timings
Share sale proceeds will settle to your account according to the T+2 settlement process in Australia and the U.S. T+2 means the Transaction day plus two trading days.
Bank Account Verification
You are only able to withdraw funds from your Superhero Wallet to a bank account that is both:
- In the name of your Superhero account
- Has been used to deposit funds into your Superhero account
In some circumstances we may ask you for additional identification information in order to verify your bank account details for withdrawal.If you are having issues with withdrawing funds from your Superhero Wallet or require a higher daily withdrawal limit, please contact us via online chat or email.
Help! I’ve withdrawn money into the wrong bank account.
If you have entered incorrect bank details when withdrawing funds from your Superhero account, please get in touch via chat or email at hello@superhero.com.au as soon as you become aware of the error. Superhero will then make best endeavours to recall the funds.
In some instances, if an incorrect BSB or account number has been entered, the funds will bounce back to your Superhero Wallet within 2 business days.
In other instances, Superhero will need to contact our banking partner to request a recall of your funds. The time taken to process these types of requests is longer as the request needs to go through external banking procedures.
Are there fees attached to my Superhero Wallet?
It doesn’t cost you anything to hold funds in your Superhero Wallet. We do not charge fees for account maintenance or inactivity. You can find our full fee schedule for trades and FX transfers here.
