Easy Equities good or bad?

Wow Easy Equities is amazing compared to the absolute piece of crap that is FNB Sharesaver.

I opened an account like a year ago (because FNB wouldn’t let me have a second savings pocket like TymeBank) to potentially put some money away for our domestic.

I could never actually figure out how to make it work it’s that bloody hostile and then noticed a couple of months ago I’m being charged R20 a month for this thing I don’t use.

So I figured it’s a dormancy charge and so I struggled through getting it setup and put R300 a month in which is the bare minimum.

Let it chug along a little bit but the R20 a month hung around making it so expensive it basically can’t make a profit for many years so I decided **** that I’d rather put that into an RA than this crap.

Think you can close it yourself? Nope you have to CALL someone to do it and you need to sell all your shares out first which took a good two weeks to clear.

Guess what? They charged me R57.50 per sale from two funds it was invested in.

So of the entire R1200 I put into this fund I got a whopping -R96 out at the end of the and that’s excluding the R20 a month they take off from your main account.

Definitely do not recommend.

In contrast it would have cost almost nothing on Easy Equities, would have shown a profit and I could have self managed it all.
 
SauRoNZA said:
Wow Easy Equities is amazing compared to the absolute piece of crap that is FNB Sharesaver.

I opened an account like a year ago (because FNB wouldn’t let me have a second savings pocket like TymeBank) to potentially put some money away for our domestic.

I could never actually figure out how to make it work it’s that bloody hostile and then noticed a couple of months ago I’m being charged R20 a month for this thing I don’t use.

So I figured it’s a dormancy charge and so I struggled through getting it setup and put R300 a month in which is the bare minimum.

Let it chug along a little bit but the R20 a month hung around making it so expensive it basically can’t make a profit for many years so I decided **** that I’d rather put that into an RA than this crap.

Think you can close it yourself? Nope you have to CALL someone to do it and you need to sell all your shares out first which took a good two weeks to clear.

Guess what? They charged me R57.50 per sale from two funds it was invested in.

So of the entire R1200 I put into this fund I got a whopping -R96 out at the end of the and that’s excluding the R20 a month they take off from your main account.

Definitely do not recommend.

In contrast it would have cost almost nothing on Easy Equities, would have shown a profit and I could have self managed it all.
Click to expand...

I took the leap many moons ago moving my normal and tfsa share saver! I fully agree! When the masses left, they all of a sudden stopped the monthly fee on the TFSA leg!
 
SauRoNZA said:
Wow Easy Equities is amazing compared to the absolute piece of crap that is FNB Sharesaver.

I opened an account like a year ago (because FNB wouldn’t let me have a second savings pocket like TymeBank) to potentially put some money away for our domestic.

I could never actually figure out how to make it work it’s that bloody hostile and then noticed a couple of months ago I’m being charged R20 a month for this thing I don’t use.

So I figured it’s a dormancy charge and so I struggled through getting it setup and put R300 a month in which is the bare minimum.

Let it chug along a little bit but the R20 a month hung around making it so expensive it basically can’t make a profit for many years so I decided **** that I’d rather put that into an RA than this crap.

Think you can close it yourself? Nope you have to CALL someone to do it and you need to sell all your shares out first which took a good two weeks to clear.

Guess what? They charged me R57.50 per sale from two funds it was invested in.

So of the entire R1200 I put into this fund I got a whopping -R96 out at the end of the and that’s excluding the R20 a month they take off from your main account.

Definitely do not recommend.

In contrast it would have cost almost nothing on Easy Equities, would have shown a profit and I could have self managed it all.
Click to expand...

Why didnt you just “moved” the shares without selling
 
SauRoNZA said:
Didn’t even consider it.

It was pure torture dealing with the entire thing so that probably would have been worse.

Happily pay the R100 odd to just be rid of them.
Click to expand...

I paid R150 to move R250 000 out!

Glad you saw the light! Been preaching that for years. Fnb charges a fee, and you could have the same funds costless per month
 
I had the same joy with Share Saver. IMO their ETN's are much better with Shares Zero. No account fee, just transaction fees.

FNB are a mixed bag. When I initially opened my Share Saver account, there were no monthly fees. Then they changed it and I moved to EE :D
 
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