Easy Equities good or bad?

This one
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Some time or other when logging in you would have gotten a prompt asking your employment status. I just selected private employment even though I won't reach the limits.
 
Yeah i saw that table.

and also this message"
If the deposit is a larger than normal sum and of an irregular nature (e.g. a bonus, inheritance, commission, proceeds on sale of assets) you can also email documentary evidence of that particular deposit to us so that we can take that into account too"

What documents can i provide to show savings. As mentioned the source of the funds is cash savings / portion of inheritance received.
 
AliC said:
If the deposit is a larger than normal sum and of an irregular nature (e.g. a bonus, inheritance, commission, proceeds on sale of assets) you can also email documentary evidence of that particular deposit to us so that we can take that into account too"
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Wow what a load of bull - Absa - transferred double that upper UDL to my trading account today - brought stock with it 50 mins later - none of that sort of nonsense
 
AliC said:
Yeah i saw that table.

and also this message"
If the deposit is a larger than normal sum and of an irregular nature (e.g. a bonus, inheritance, commission, proceeds on sale of assets) you can also email documentary evidence of that particular deposit to us so that we can take that into account too"

What documents can i provide to show savings. As mentioned the source of the funds is cash savings / portion of inheritance received.
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Really, if you have large enough sums to exceed the limits I'd suggest going to another platform. This is because EE is running at a loss and they can't handle people that put a large strain on their funds. It isn't a Fica or Sars requirement but a bunch of their own polony.
 
Swa said:
Really, if you have large enough sums to exceed the limits I'd suggest going to another platform.
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I agree with this, for different reasons though. When you're investing in excess of R100k pa do you really trust the likes of EE and their shakey platform with your money?

You get what you pay for and with larger transactions the trading costs become less of a concern.

The UDL is not that big of a deal though. They blocked me, I sent them my payslip and they raised the limit without a fuss.
 
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I have no idea how these upper limits work. I don't recall doing anything special or requesting an increase, but I see mine is set to R200 000.
 
Thanks for the insights.

Hopefully like you say the UDL isn't to much of a problem and if i send them my payslip they unblock it. Even though it has no correlation to the money invested in a lump sum. They gave me the same copy paste reply you get on the FAQ section.

Would only think that when you start getting to R1 mil invested PA, maybe EE becomes abit of a worry. Like i said i really don't think its bad for buy/hold.

Out of interest didn't find much information about transferring a portfolio out of EE. Only that it is $25 per counter. Is that $25 per actual share or $25 for the whole bunch of 1 company /ETF.
 
Bincx said:
I have no idea how these upper limits work. I don't recall doing anything special or requesting an increase, but I see mine is set to R200 000.
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Where do you see that? I can't find it in my profile. And R200k quite a weird amount when the maximum tier is only R50k.

AliC said:
Thanks for the insights.

Hopefully like you say the UDL isn't to much of a problem and if i send them my payslip they unblock it. Even though it has no correlation to the money invested in a lump sum. They gave me the same copy paste reply you get on the FAQ section.

Would only think that when you start getting to R1 mil invested PA, maybe EE becomes abit of a worry. Like i said i really don't think its bad for buy/hold.

Out of interest didn't find much information about transferring a portfolio out of EE. Only that it is $25 per counter. Is that $25 per actual share or $25 for the whole bunch of 1 company /ETF.
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That is a strange statement. Transferring is usually done by the acquiring broker and they usually don't charge if you transfer a complete portfolio.
 
Swa said:
when the maximum tier is only R50k
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Mine is set to R100k. The table is just a reference. No ways will EE stop you from spending more since that's how they make money.
 
Swa said:
Where do you see that? I can't find it in my profile. And R200k quite a weird amount when the maximum tier is only R50k.
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I did a deposit yesterday and it was shown in the email confirmation.
Deposit amount
Deposits for the year
Upper limit (this was R200 000) on the email.

Not sure where to check this otherwise
 
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Bincx said:
I did a deposit yesterday and it was shown in the email confirmation.
Deposit amount
Deposits for the year
Upper limit (this was R200 000) on the email.

Not sure where to check this otherwise
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I'm assuming the upper limit isn't a hard limit, it's just the limit that triggers their AML.
 
I had issues with the UDL when they first implemented it. But after asking for it to be lifted twice, I think it's high enough that the admin is over. Minor inconvenience, but far from the end of the world
 
Hamster said:
Mine is set to R100k. The table is just a reference. No ways will EE stop you from spending more since that's how they make money.
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They stop you when you want to withdraw. Happened to me twice.. Phone call sorted it out after loosing it over the phone with them.
 
zerocool2009 said:
Where do you see the UDL limits?
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Just reading through these - went back and checked their confirmation of deposit email they sent me - UDL is in there. Good to know, thanks all. (is that per year or ever?)
 
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