HOW TO OPEN A MINOR ACCOUNT:

In order to open a Minor account, the Authorised User (Eg. parent or guardian of the minor) opening the account on behalf of the minor, needs to complete the ONLINE APPLICATION FORM and then email the documents listed on the form confirmation page (and detailed below) to our New Accounts department at newaccounts@easyequities.co.za  

The documents will be checked against the application form, and if in order, you will be sent a welcome email with all the account details. If not, you will be provided with guidance as to how to complete the process. 

PLEASE NOTE: Minor accounts are currently only available to South-African residents with a valid South African Identity document. 


Information needed

Acceptable verification documents

Mandatory Documents required for the Minor

Proof of Identification

 > South African Citizen
 
  • A valid South African issued Identity card OR green bar-coded identity document; OR
  • A valid birth certificate

    If non of the above are available - 
     a valid South African passport*

*subject to approval by EasyEquities, and must be accompanied by an affidavit confirming why identity card or Green bar-coded ID cannot be provided

Mandatory Documents required from the Authorised User

(Eg. Parent or guardian)




1. Proof of Identification
 > South African Citizen 
  • A valid South African issued Identity card OR green bar-coded identity document; OR

If not available:
  • A valid South African passport*
*subject to approval by EasyEquties, and must be accompanied by an affidavit confirming why a birth certificate is not available

 > Foreign National
  • Valid passport bearing passport number and photograph
  • Second means of verification i.e. birth certificate


2. Proof of Residence
As the minor most often resides with the Parent or guardian opening the account on their behalf, we need the following documents proving the minor resides with them:
  1. A valid FICA Proof of Residence document (see list of valid documents in the table below), proving the authorised user lives at the address they register with
  2. A Confirmation of address form ( HYPERLINK ) - completed and signed in which the authorised user declares that the minor resides with them at that address


3. Guardian Consent Form
Completed and signed by the authorised user Guardian Consent form  (HYPERLINK ) 



4. Proof of Bank account

This item is not mandatory / required for opening an account, but it is worth noting that we will ONLY pay out funds to a verified bank account in the name of the account holder (the minor in this case) so it may be worth considering at the time of opening the account.
  • A copy of a bank statement in the name of the minor, no older than 3 months old, that is officially stamped by the bank, OR alternatively
  • An official letter from the bank, on a bank letterhead listing details of the minor bank account, signed by the bank
 


Additional Documents required where individual other than the parent or guardian will open / operate the account.

Authority to operate account form

Please note: This ONLY pertains to situations where the parent / guardian of the minor gives permission to another individual (usually a close family member), to open / operate the account on behalf of the minor.

 

In addition to the signed form, we will require the following documents from the Individual operating the account
:
  1. Copy of ID
  2. Proof of residential address
  3. Proof of bank account, no older than 3 months old and stamped by the bank (if this individuals bank account will be used on the EasyEquities account)

Valid FICA documents for Proof of Address:

The document must:


  1. Clearly reflect the name/initials and surname, physical address or property descriptions (i.e. erf/stand numbers), AND
  2. Be less than 3  months old. 



A list of valid FICA documents that can be used to verify physical residential address is detailed below:

  • A utility bill, such as water, electricity or rates (less than 3 months)  We may accept a utility bill that are addressed to a post box number if  it shows your name, erf/stand number, township and suburb
  • A bank statement or financial statement from a financial institution (less than 3 months old)
  • A copy of a signed lease agreement (by both parties), (less than 1 year old)
  • A municipal rates and taxes invoice (less than 3 months old)
  • A mortgage statement from another financial institution, (less than 6 months old)
  • A telephone account, ie. a land–line or cellphone account (less than 3 months old)
  • An official tax return/tax assessment (less than 1 year old)
  • Official correspondence from the South African Revenue Services ("SARS") (less than 3 months old)
  • A recent life insurance policy issued by an insurance company
  • Correspondence from a body corporate or share–block association (less than 3 months old)
  • A valid television license document
  • A recent short–term insurance policy document or a short–term insurance renewal letter (less than 1 year old)
  • A retail account statement/invoice (less than 3 months old)
  • Where the person live in any type of residence (eg. hostel/barracks) a letter from the administration department of such residence on an official  letterhead