EasyEquities new R25 monthly fee

As an EasyEquities client, did you get an email warning you about the new mandatory R25 per month?

  • Yes

    Votes: 76 33.3%

  • No

    Votes: 152 66.7%
  • Total voters
    228
No, I did not.

I also didn't get the email about the maintenance that happened over the weekend (I found in a thread on MyBB)

I have a faint memory of an issue long ago where I unsubscribed from their mailing list, but was also unsubscribed from the important emails they sent out as well.

I think I contacted them to get it sorted (after I noticed I was missing mails that guys posted on MyBB) but I can't find any record of this.
 
Nope, but received this, email about some sort of "loyalty" program, which I wasn't interested in and deleted.
after seeing all the talk on My BB, I dug a bit deeper and noted the Purple Highlighted part (I highlighted it in here.)
Note also the DATE, 31st November, no such date exists, so as far as I'm concerned, legally, there's no fee payble.

"
Hi Legend,
At EasyEquities, our purpose remains to democratise investing and empower financial dignity for all while building the world’s best investment platform - easy, safe, enjoyable, rewarding, educational and with a superb user experience.
Fractional shares, no minimums, no monthly account fees, global accounts (US, UK, EU, AUS), EasyProperties, EasyFX, Rise EasyRetire, EasyCrypto, EasyProtect and EasyCredit are all evidence of our progress towards delivering on our purpose. And we aren’t nearly at the end of the road.
Thrive
We built Thrive, our loyalty program, to drive good investment behaviour. We rewarded Thrivalists with the ability to earn zero brokerage fees across a diverse range of Thrive stocks which when combined with our incredibly low fee structure has, over nine years, gone on to save the EasyEquities community more than R2 Billion in brokerage fees alone when comparing our fees with our nearest competitors.
Since our launch in 2014 we have over 2 million registered account holders, with over 850,000 of you actively shaping the future of investing. We're inching closer to that magic one million mark.
Our demographics also tell a compelling story, with 58% male and 42% female investors, and a median age of 30 – proof that we've managed to get the youth invested and more women able to easily prove how smart they are at investing.
Our Donate for Good charity initiative is also thriving with previous organisations having received a staggering amount of over R1,2 million from more than 90 000 EasyEquities community members. Truly remarkable, and even more so if one considers that many people “only” donate R5. It shows the power of small amounts and compounding if you ask us - no amount is ever too small to invest or donate.
Introducing the Thrive Fee
Thrive is built on the pillars of education, financial health, and giving back – to you and to our community. What was once a voluntary program, is now mandatory for all EasyEquities users.
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.
Each level achieved earns you a 10% brokerage discount on Thrive Stocks. Achieve Thrivalist status (level 3 and higher) and your Thrive Fee is free! All Thrive activities are designed to encourage and reward positive investing behaviour, the more positive the behaviour the more rewards you earn. Thrive Rules

Learn More About Thrive

Thank you for being a valued member of the EasyEquities community. If you have ideas on other activities you’d like us to reward, please drop us a line here.
Investing is not a one day game – but takes commitment and consistency. By staying the course and working on developing your good investment habits even more, you are placing yourself in the best possible position to grow your financial wealth. We wish you the very best on your investment journey.
Happy Investing
The EasyEquities Team"
 
Just sold all of my holdings. Waiting for the cash to reflect, then will withdraw everything and close the account.
Won't hurt them much, but I'm sure I'm not the only one.
 
Glock26 said:
Just sold all of my holdings. Waiting for the cash to reflect, then will withdraw everything and close the account.
Won't hurt them much, but I'm sure I'm not the only one.
Click to expand...
How would this work with a TFSA? If you withdraw then you lose that amount from your lifetime limit as far as I am aware.
 
Glock26 said:
Just sold all of my holdings. Waiting for the cash to reflect, then will withdraw everything and close the account.
Won't hurt them much, but I'm sure I'm not the only one.
Click to expand...

Same, this was just play account for me, think in total around R200,000 - so no major loss to them, but - all those R200,000s will add up.

I just am not interested in loyaly schemes, even worse when the target is a moving post.
 
ronz91 said:
ah okay so transfer, not withdraw. where are you moving it to? if you dont mind me asking
Click to expand...
I already have the same at Sygnia - I ran them both to do a comparison over time - R500 each... value has remained consistant, so just transfering it to them.

The rest is maxed out elsewhere.
 
No, I did not receive an email. They can close my account when they start putting it in a minus. What I know about this is what I have read in the news. They can f**k off.
 
Bunta said:
Nope, but received this, email about some sort of "loyalty" program, which I wasn't interested in and deleted.
after seeing all the talk on My BB, I dug a bit deeper and noted the Purple Highlighted part (I highlighted it in here.)
Note also the DATE, 31st November, no such date exists, so as far as I'm concerned, legally, there's no fee payble.

"
Hi Legend,
At EasyEquities, our purpose remains to democratise investing and empower financial dignity for all while building the world’s best investment platform - easy, safe, enjoyable, rewarding, educational and with a superb user experience.
Fractional shares, no minimums, no monthly account fees, global accounts (US, UK, EU, AUS), EasyProperties, EasyFX, Rise EasyRetire, EasyCrypto, EasyProtect and EasyCredit are all evidence of our progress towards delivering on our purpose. And we aren’t nearly at the end of the road.
Thrive
We built Thrive, our loyalty program, to drive good investment behaviour. We rewarded Thrivalists with the ability to earn zero brokerage fees across a diverse range of Thrive stocks which when combined with our incredibly low fee structure has, over nine years, gone on to save the EasyEquities community more than R2 Billion in brokerage fees alone when comparing our fees with our nearest competitors.
Since our launch in 2014 we have over 2 million registered account holders, with over 850,000 of you actively shaping the future of investing. We're inching closer to that magic one million mark.
Our demographics also tell a compelling story, with 58% male and 42% female investors, and a median age of 30 – proof that we've managed to get the youth invested and more women able to easily prove how smart they are at investing.
Our Donate for Good charity initiative is also thriving with previous organisations having received a staggering amount of over R1,2 million from more than 90 000 EasyEquities community members. Truly remarkable, and even more so if one considers that many people “only” donate R5. It shows the power of small amounts and compounding if you ask us - no amount is ever too small to invest or donate.
Introducing the Thrive Fee
Thrive is built on the pillars of education, financial health, and giving back – to you and to our community. What was once a voluntary program, is now mandatory for all EasyEquities users.
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.
Each level achieved earns you a 10% brokerage discount on Thrive Stocks. Achieve Thrivalist status (level 3 and higher) and your Thrive Fee is free! All Thrive activities are designed to encourage and reward positive investing behaviour, the more positive the behaviour the more rewards you earn. Thrive Rules

Learn More About Thrive

Thank you for being a valued member of the EasyEquities community. If you have ideas on other activities you’d like us to reward, please drop us a line here.
Investing is not a one day game – but takes commitment and consistency. By staying the course and working on developing your good investment habits even more, you are placing yourself in the best possible position to grow your financial wealth. We wish you the very best on your investment journey.
Happy Investing
The EasyEquities Team"
Click to expand...

That email is bad. It is even titled, "Thrive to remain fee free". Then it goes on to introduce a Thrive fee, making a voluntary community program mandatory by design where exemptions for the payment of the fee may apply either by category or by the completion of community tasks.
 
okay so what does one actually have to do to not pay the fee?
 
ronz91 said:
okay so what does one actually have to do to not pay the fee?
Click to expand...

Need to be 21 years old or younger, or you need to be 65 years old or older. Everyone else has to do the Thrive challenges. You need to reach Thrive Level 3 or higher not to be charged.

This whole concept, as in their own words, is to promote positive investing behavior.
 
Fulcrum29 said:
Need to be 21 years old or younger, or you need to be 65 years old or older. Everyone else has to do the Thrive challenges. You need to reach Thrive Level 3 or higher not to be charged.

This whole concept, as in their own words, is to promote positive investing behavior.
Click to expand...
I am between 21 and 65 :ROFL:
What way is there to reach Level 3 besides a monthly deposit?
 
Bunta said:
Note also the DATE, 31st November, no such date exists, so as far as I'm concerned, legally, there's no fee payble.
Click to expand...
Trust me bud... Charles does not GAF what you're concerns are. And I make that judgement just based on his general displayed attitude.

But I mean, he also literally made a joke of it:

SIMON BROWN: Last question – starting end of November?

CHARLES SAVAGE: Yes. Exactly. The first date is the end of November. Another important point – we’ve been criticised for the communication – the communication is day one communication, that’s the first level. We’ve 30 days of planned communication and engagement in different places. And so what customers have seen is just day one. The first fee run will be on 30 November. I know we noted that it was going to be 31st November. [Chuckles] We obviously know something and everyone else doesn’t – there’s obviously another day on the calendar.
Click to expand...

Perfect time to say "oops, we ****ed up, apologies, typo"... but he came in strong with the "smart" reply.
 
Dylan_G said:
Trust me bud... Charles does not GAF what you're concerns are. And I make that judgement just based on his general displayed attitude.

But I mean, he also literally made a joke of it:



Perfect time to say "oops, we ****ed up, apologies, typo"... but he came in strong with the "smart" reply.
Click to expand...
LOL. there's fukkall "smart" about that reply.
 
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