Open Collective
Open Collective
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Important details to how the wallet works 🚀🌳
Published on November 10, 2021 by Alexander Scott McCall


Kia ora!

We are super excited that THIS IS THE WEEK THAT WE LAUNCH OUR WALLET to enable you to start contributing towards purchasing our first forest.

This email outlines how this will work and once again please poke holes in our methodology, any concerns you have or how we can improve.

TLDR: Wallet info in this email - Keep an eye on your inbox this Wednesday for our Wallet release and how you can start toward regenerating our first forest 🚀🌳

What is the outcome we are collectively seeking?
  • Purchase our first forest by April 2022
  • Have $100,000NZD of collective funds ready to deploy by April 2022
How will the wallet work?
  • This wallet is a storage place for you to start contributing weekly funds that you are earmarking for investment in our first forest e.g. $20 per week.
  • We have partnered with Open Collective to enable your wallets to be transparent and easy to top up (more on Open Collective below).
  • You will be required to create a profile and select your contribution amount on the Regenerate NZ Open Collective page. Think of this as your Regenerate NZ account.
  • We have enabled contribution via Stripe so you can auto top up weekly via Credit or Debit. Small fee. Stripe fees are 2.9% + $0.3 per transaction so you will see $20 per week via debit is $20.88 at checkout ($0.88 of Stripe fees) etc. $20.88 at checkout = $20 in your wallet.
  • We have enabled contribution via Direct Deposit. Zero fees. $20 at checkout = $20 in your wallet. This means you can create a recurring weekly bank transfer to your wallet with your unique transaction code. This will be sent to you via email and displayed at the checkout. Please note due to open banking limitations in NZ we will manually reconcile these transactions to your profile once per week (a.k.a. they won't show up instantly on our platform like direct debit).
  • The Open Collective platform automatically reconciles and updates all balances so you can track your contributions, how we are progressing towards our $100k goal and there's even a leaderboard if you want your profile & wallet to be visible.
  • At this stage we only have recurring contribution functionality but we will be looking to enable lump sum contributions (coming soon).
  • The Regenerate NZ wallet is a location for our backers to start collectively working towards purchasing our first forest. Think of it like your Sharesies wallet, a secret savings account or like you are contributing towards a long term crowdfunding campaign.

What the wallet is not
  • The Regenerate NZ wallet is not a direct investment in any investment product.
  • All investment offers will be made in due course in alignment with Financial Market Conduct Act 2013.
  • Your wallet is not an interest bearing account and does not generate returns. Funds are held on account in your wallet and all balances in individual wallets are tracked via the Open Collective platform. These funds are non interest bearing. All funds are held locally via our BNZ Business Banking Accounts. These funds are not used elsewhere for any investment capacity. Your wallet. Your funds.

To read more about:

What happens when we hit our target?
What happens if I want to withdraw funds or not participate in the investment offer?

Please head along to our latest blog on our website