Easy Equities good or bad?

Out of interest, why does Easy Equities take so long to process transactions? EFT payments often take up to 4 days to complete. Out of 7 EFT payments I made the past few months, only a single one took 2 days. Not sure how long transfers from your ZAR account to USD account takes, but it seems it may be days too. Thinking of probably just cancelling the transaction, just getting the money paid out and move to a service like Trade Station or IB.
 
zerocool2009 said:
Make sure you use the right banking details. (Example FNB to FNB etc)

Mine takes 5 min to reflect on EE's side
Click to expand...

I did. FNB to FNB each and every transfer. I am not that lucky at all. Not even with foreign payments from FNB Forex to them for my USD account, all takes about 4 days and some more. Also, even to EasyProperties, 4-5 days on average. Just tried to do a conversion at 8 this morning from my ZAR to USD, still nothing there either.
 
rvZA said:
Out of interest, why does Easy Equities take so long to process transactions? EFT payments often take up to 4 days to complete. Out of 7 EFT payments I made the past few months, only a single one took 2 days. Not sure how long transfers from your ZAR account to USD account takes, but it seems it may be days too. Thinking of probably just cancelling the transaction, just getting the money paid out and move to a service like Trade Station or IB.
Click to expand...
I am not sure why you are having such trouble. What bank are you sending from and what account details are you using for them?

When I do an EFT from FNB to their FNB account, it doesn't take more than a couple of minutes. This is just local stuff though.

As for International transfers to my US EE account, even using the Shyft app takes ages for me.
 
mr_norris said:
I am not sure why you are having such trouble. What bank are you sending from and what account details are you using for them?

When I do an EFT from FNB to their FNB account, it doesn't take more than a couple of minutes. This is just local stuff though.

As for International transfers to my US EE account, even using the Shyft app takes ages for me.
Click to expand...

Not sure either. But, I transfer from my FNB to their FNB and never had a time when it showed within minutes.
 
zerocool2009 said:
Contact EE via Twitter and question it.

For USD its average 3 days to show in the USD account
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Yes, 3-5 days for forex payments seem to be the norm. Never had this with TDAmeritrade or IB before. Forex payments usually reflected in my trading account the same day. Also see on their FAQ a transfer between your ZAR and USD account could take 48 hours.

Just cancelled my transaction and will look at opening an account with IB or TradeDesk instead. I rather prefer services working faster on these transactions so one can have access to your funds and start trading or investing.
 
EFT took few minutes couple of times(rand account). Sending directly to usd account took a week- twice, and only showed after opening a ticket.
 
rvZA said:
Not sure either. But, I transfer from my FNB to their FNB and never had a time when it showed within minutes.
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Standard Bank and FNB are slow even with internal transfers.
Absa/Capitec found to be the fastest 24/7.
 
Louis72 said:
Standard Bank and FNB are slow even with internal transfers.
Absa/Capitec found to be the fastest 24/7.
Click to expand...

Yeah, this is stupid. It just killed EE for me. I do not like to wait days or weeks for transactions to be done. I like the way American firms work. Everything happens within a working day. Just better doing business and investing this way. By the way, just spoke to EE. Apparently you have to wait 5 working days for shares to be settled. With TDAmeritrade, shares were settled within 24 hours. Not sure how long it takes with IA. Just another reason to move abroad instead.
 
rvZA said:
Yes, 3-5 days for forex payments seem to be the norm. Never had this with TDAmeritrade or IB before. Forex payments usually reflected in my trading account the same day. Also see on their FAQ a transfer between your ZAR and USD account could take 48 hours.

Just cancelled my transaction and will look at opening an account with IB or TradeDesk instead. I rather prefer services working faster on these transactions so one can have access to your funds and start trading or investing.
Click to expand...
EasyFX/internal transfer (ZAR->USD) - if you do it before 10:00 has always been available by market open in US same day (barring ofc weekends/holidays here or US etc)
 
starmage said:
EasyFX/internal transfer (ZAR->USD) - if you do it before 10:00 has always been available by market open in US same day (barring ofc weekends/holidays here or US etc)
Click to expand...

Okay, I will see later today.
 
starmage said:
EasyFX/internal transfer (ZAR->USD) - if you do it before 10:00 has always been available by market open in US same day (barring ofc weekends/holidays here or US etc)
Click to expand...

You were right. I see the funds were available just before the markets opened abroad.
 
mr_norris said:
I am not sure why you are having such trouble. What bank are you sending from and what account details are you using for them?

When I do an EFT from FNB to their FNB account, it doesn't take more than a couple of minutes. This is just local stuff though.

As for International transfers to my US EE account, even using the Shyft app takes ages for me.
Click to expand...
It shouldn't really matter. Any transfer should reflect by 6PM the following day at the latest unless it's a Sunday.
 
Hi all :)

Anyone have any opinions on the idea of long term investing in Easy Equities USD ETF and one day looking to take your money out?

My questions are:

1. You can withdraw your EE USD into a USD bank account if need be, right?

2. And then, if I wanted to withdraw my ETF savings into my ZAR bank account one day. It looks like the fee to move your funds from USD to ZAR is about a 0.6% fee, see hypothetical example attached. Is this reasonable?

I have been passive/DCA investing for quite some time but looking to put a bit of my life savings into a USD ETF for long term/retirement, I am just trying to understand if Easy Equities is a good approach? As in, taking the money out one day.

Thanks!




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SergioDomngos said:
Hi all :)

Anyone have any opinions on the idea of long term investing in Easy Equities USD ETF and one day looking to take your money out?

My questions are:

1. You can withdraw your EE USD into a USD bank account if need be, right?

2. And then, if I wanted to withdraw my ETF savings into my ZAR bank account one day. It looks like the fee to move your funds from USD to ZAR is about a 0.6% fee, see hypothetical example attached. Is this reasonable?

I have been passive/DCA investing for quite some time but looking to put a bit of my life savings into a USD ETF for long term/retirement, I am just trying to understand if Easy Equities is a good approach? As in, taking the money out one day.

Thanks!




View attachment 1186104
Click to expand...

Bump.
 
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