Easy Equities good or bad?

[LJS18]

So no way to transfer it from EE$ back to EEZAR?

Read somewhere that they're working on it.

 

[mr_norris]

Thanks guys, yes I mean for transferring money in or, more importantly, out.
The EE site says you need an account that can accept dollars if you want to take money out of your EE USD account. The implication being that a standard SA bank account won't do. Is that correct, or am I misunderstanding?

With FNB you can open a global account which you can transfer the dollars to. I think it's free, not 100% sure. But I know it's quite easy to do if you're an FNB customer. Don't Standard have something similar?

 

[HauntingAngel]

With FNB you can open a global account which you can transfer the dollars to. I think it's free, not 100% sure. But I know it's quite easy to do if you're an FNB customer. Don't Standard have something similar?

Fnb global account not free anymore. It’s about $17 per year.

Standard Bank’s is the shyft app. Much nicer and I think no monthly/yearly fees.

 

[mr_norris]

Fnb global account not free anymore. It’s about $17 per year.

There is only a card fee for $20 PA I could find, no account fees. I am not sure if a card is mandatory though.

 

[newby_investor]

If you want to take the money offshore why not use the EE forex service?

When I took it offshore (about 2 years ago now), FNB was cheaper than EE for the amount I was doing.

There are other services which will do it, but basically wherever you go it becomes more economical when the numbers are above R50k or so.

 

[PPLdude]

24 hours and the inter-account transfer is still not reflecting.

Do they process these requests manually?

 

[cr@zydude]

24 hours and the inter-account transfer is still not reflecting.

Do they process these requests manually?

You could try their automated complaint line, someone might get back to you in the next month.

 

[safejack]

Testing out Etoro for International trades, just had a issue with verification , as you need your passport
but the platform is nice and easy to use.
Like that if you want to buy you dont need to wait like EE a couple days before the money pulls through for USD

 

[Kashman]

Testing out Etoro for International trades, just had a issue with verification , as you need your passport
but the platform is nice and easy to use.
Like that if you want to buy you dont need to wait like EE a couple days before the money pulls through for USD

how long is a couple of days? I am looking to pay from my bank account into their USD account(potentially).

 

[zerocool2009]

Hey guys, sorry if this has been asked already, not gonna try to wade through 130 pages.

Can I use an FNB Global account with EE for their USD Account?

I am now funding my EE USD account also, as the Tesla and Apple shares dropped like a brick.

I am now on the same page as you (its all about the RAND vs USD value and FEES).

So, your question is / was : How can you fund your EE USD smartly ?

 

[8BitLife]

I am now funding my EE USD account also, as the Tesla and Apple shares dropped like a brick.

I am now on the same page as you (its all about the RAND vs USD value and FEES).

So, your question is / was : How can you fund your EE USD smartly ?

The bottom part of this blog:

Investing PROPERLY offshore in 3 easy steps – The Investor Challenge

 

[Swa]

I am now funding my EE USD account also, as the Tesla and Apple shares dropped like a brick.

I am now on the same page as you (its all about the RAND vs USD value and FEES).

So, your question is / was : How can you fund your EE USD smartly ?

It didn't drop. They did a share split so it's still overvalued.

 

[K3NS31]

So no way to transfer it from EE$ back to EEZAR?

With FNB you can open a global account which you can transfer the dollars to. I think it's free, not 100% sure. But I know it's quite easy to do if you're an FNB customer. Don't Standard have something similar?

24 hours and the inter-account transfer is still not reflecting.

Do they process these requests manually?

I am now funding my EE USD account also, as the Tesla and Apple shares dropped like a brick.

I am now on the same page as you (its all about the RAND vs USD value and FEES).

So, your question is / was : How can you fund your EE USD smartly ?

Hey All, thanks for the input.
Here's what I ended up doing, which worked really well - just did a SWIFT international transfer straight from my FNB cheque account to EE's USA bank account. Get this, took an hour to clear. The dollars reflected in my EE account very fast. I was expecting at least 24 hours.
Also, it seems that you can accept money via Swift to an FNB cheque account as well, so that should work for getting the money back.
I wanted to explore the Global account option but was in a hurry. It may still be cheaper, but I figured it would take longer.

 

[8BitLife]

Hey All, thanks for the input.
Here's what I ended up doing, which worked really well - just did a SWIFT international transfer straight from my FNB cheque account to EE's USA bank account. Get this, took an hour to clear. The dollars reflected in my EE account very fast. I was expecting at least 24 hours.
Also, it seems that you can accept money via Swift to an FNB cheque account as well, so that should work for getting the money back.
I wanted to explore the Global account option but was in a hurry. It may still be cheaper, but I figured it would take longer.

You know FNB charges you 2.5% inside the spread (which they are quiet about) and then another 0.5% in commission(which they actually do tell you about)? For every R10,000 you send offshore through FNB you pay them R300 in fees.

 

[e4et]

Has anyone had any feedback from EE regarding the SARS numbers reflected on the TFSA section still being incorrect ?
They have not even responded to the last ticket I logged.

 

[cr@zydude]

Has anyone had any feedback from EE regarding the SARS numbers reflected on the TFSA section still being incorrect ?
They have not even responded to the last ticket I logged.

They will get to your ticket, eventually, probably. As they say, they're a technology driven company, that means take a number and hope that the great machine fixes the issue.

Another member has posted that EE told them to get a tax consultant and closed the query.

 

[e4et]

They will get to your ticket, eventually, probably. As they say, they're a technology driven company, that means take a number and hope that the great machine fixes the issue.

Another member has posted that EE told them to get a tax consultant and closed the query.

Yeah, that was me, when I logged the first ticket :-

 

[qc_fs]

Yeah, that was me, when I logged the first ticket :-

I logged a ticket for the same issue, response was that they are aware of the issue and working on it....

 

[Dylan_G]

Stumbled on this one yesterday. Just going to throw it in here for awareness.

Original Tweet:



A bit further down that thread, people were asking about Easy Equities implementing two-factor authentication and the question was posed to the CEO.

The reply:



In his opinion, there is no need to implement 2FA, even though almost every bank+crypto exchange site has it?

It troubles me because as the months go on, my Easy Equities balance grows... I don't want to have the majority of my investments on a platform that has, by executive decision, no intention of strengthening its security.

 

[mr_norris]

All this time I thought 2FA was on the cards and going to be added. I am very surprised at his reaction. Perhaps they will have a zoom / webinar apology then implement it anyway?