Easy Equities good or bad?

I am still super curious how they can go about disposing of *your* assets (selling shares) - then taking brokerage fee on the sale - and then dipping into the proceeds? That is tantamount to the bank just selling your car or house if you fall a day or two behind in payments - no court order, no nothing. Plus, they benefit from it (as in they make money from the fees when selling the assets too).

Next up , Checkers or Pick N Pay charging R50 for the honor of having a savings card - unless you make a minimum spend of R500 (yeah just being silly with the numbers - but a mandatory loyalty program that they can then change willy-nilly ... opens up some nice revenue opportunities for *any* business that has a loyalty program)
 
I still don't understand this whole Thrive business. Does this mean that when you opened an EE account you are automatically registered with this thrive business? Or is it something you would opt in separately? If it's something separate and you haven't opted in, do you still get charged R25? I'm so confused.
 
Magandroid said:
I still don't understand this whole Thrive business. Does this mean that when you opened an EE account you are automatically registered with this thrive business? Or is it something you would opt in separately? If it's something separate and you haven't opted in, do you still get charged R25? I'm so confused.
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Personally I never used it. I try to invite a friend once a month to get the R50 perk for costs.

Thrive is just when you dont want to pay fees when buying / selling (I assume).
 
zerocool2009 said:
Guys, in short, if you have an EE account dormant, you will be charge. If you have R1 deposit in ANY level, you are still for FREE. EE confirmed it now with me
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I test paid R10 and in total came to R11. 82 due to fees.
Looks like the first of the month I will have to ebucks and easy equities activities
 
How long before EE changes the goal posts like eBucks does....

Depositing to hit thrive level 3 is all good and well now but what happens if / when we are required to jump through extra hoops
 
ny152 said:
How long before EE changes the goal posts like eBucks does....

Depositing to hit thrive level 3 is all good and well now but what happens if / when we are required to jump through extra hoops
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I think they could have done this more professionally. Its in short, if the account is dormant, you will pay a R25 fee (as simple as that).
 
ny152 said:
How long before EE changes the goal posts like eBucks does....

Depositing to hit thrive level 3 is all good and well now but what happens if / when we are required to jump through extra hoops
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Simple answer find another platform and short PPE if your new platform allows....
 
And there is my biggest gripe with EE. The bullshittery.

I don't mind a R25 pm fee. They're providing a platform... they're providing a service... they can charge for it and if the value proposition is correct, I'll pay.

My issue with them is the nonsense of naming it a "Thrive fee" when Thrive is supposed to be their opt-in rewards scheme or whatever. Seems like they're trying to be smart but are just blurring the lines.

Feel like they just need to put their big-boy pants on, call it a platform fee and continue with business. I think more people would respect them for it, and there would be much less confusion.

Remember when they tried to sneak in an auto-opt-in for the securities lending thing in 2020 and then did a turn-around in less than 24 hours? They keep scoring own goals.
 
Who did not see this coming, they were in the news not long ago that said they aren't doing so great anymore.

mybroadband.co.za

EasyEquities boss claps back at critics

Purple Group CEO Charles Savage hit back at EasyEquities critics who raised concerns about the company’s directors buying stock on the cheap by exercising their options and dumping it on retail investors, all while talking up the company.
mybroadband.co.za mybroadband.co.za
 
Digilus said:
I am still super curious how they can go about disposing of *your* assets (selling shares) - then taking brokerage fee on the sale - and then dipping into the proceeds? That is tantamount to the bank just selling your car or house if you fall a day or two behind in payments - no court order, no nothing. Plus, they benefit from it (as in they make money from the fees when selling the assets too).

Next up , Checkers or Pick N Pay charging R50 for the honor of having a savings card - unless you make a minimum spend of R500 (yeah just being silly with the numbers - but a mandatory loyalty program that they can then change willy-nilly ... opens up some nice revenue opportunities for *any* business that has a loyalty program)
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Wouldn't there be tax implications to them selling shares on your behalf?
 
xrapidx said:
Wouldn't there be tax implications to them selling shares on your behalf?
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Yep - and according to their new terms .. they are not responsible for any tax implications. Note it still says "if you are a member"
From the Thrive Rules pdf.

6.1 Tax Liability
In no event will EasyEquities be liable for any tax consequences that may arise if you are a Member of Thrive and/or when you receive a Thrive Benefit/s as contemplated in the Thrive Rules and applicable Benefit Statement/s, as the case may be. You must obtain your own tax advice in this regard.
 
Any way to avoid this fee? I use it as a secondary account and throw in a couple hundred every few months and invest in high risk stocks. Basically a burner account for investing. Not worth it if there's a monthly fee.
 
Jan van Riebeeckstad said:
Any way to avoid this fee? I use it as a secondary account and throw in a couple hundred every few months and invest in high risk stocks. Basically a burner account for investing. Not worth it if there's a monthly fee.
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I am sure you move (EFT) at least R1 in right ? (into any EE account). Straight, USD, AUD (you name it).

So if you topup R1 ... the fee falls away (as simple as that)
 
zerocool2009 said:
I am sure you move (EFT) at least R1 in right ? (into any EE account). Straight, USD, AUD (you name it).

So if you topup R1 ... the fee falls away (as simple as that)
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Can you please point me to that rule.

I only see this:
Starting 31st November 2023, we are launching an enhanced Thrive programme and implementing a new cost, the Thrive R25 Monthly Fee.
This fee will only be charged to clients that do not reach an easily achievable Thrive Level 3 or above. Users 21 years of age and below, as well as users 65 years of age and above will be exempt from the Thrive Fee.
 
BuckRogers said:
Can you please point me to that rule.

I only see this:
Starting 31st November 2023, we are launching an enhanced Thrive programme and implementing a new cost, the Thrive R25 Monthly Fee.
This fee will only be charged to clients that do not reach an easily achievable Thrive Level 3 or above. Users 21 years of age and below, as well as users 65 years of age and above will be exempt from the Thrive Fee.
Click to expand...

I questioned it via Twitter ... And their reply ... (see below)

1698835619180.png
 
zerocool2009 said:
I questioned it via Twitter ... And their reply ... (see below)

View attachment 1611095
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EasyEquities really need to work on their communication skills. I went down a rabbit hole last night on their website trying to figure out how to get to level 3 and it all required carefully balancing your portfolio to their liking. This morning they have updated their website to show this new simple deposit rule.

Why not make this change clear in the email that went out or make sure your site is updated first?
 
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