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Setting up an EasyEquities account for a minor or child

If you're under the age of 18 and would like to open an EasyEquities account, or you are a parent who would like to open an EasyEquities account for your child, you'll need to open a minor account. This requires some additional documentation, which is detailed in this article. 

The Authorised User (Eg. parent or guardian of the minor) opening the account on behalf of the minor, needs to complete an 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. 

Info needed
Acceptable verification documents

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 none 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

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 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 - 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


4. Proof of Bank account
This item is not mandatory / required for opening an account, however we can only process withdrawals into a verified bank account with the name of the account holder (the minor in this case) and their ID.
  • 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 individual's bank account will be used to fund the EasyEquities account in order to run a recurring investment)

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. 

Here is a list of valid FICA documents that can be used to verify physical residential address:

  • 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, i.e. a landline 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 lives in any type of residence (eg. hostel/barracks) a letter from the administration department of such residence on an official letterhead.

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