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How do I set up a Recurring Investment?

A Recurring Investment can be set up by following one of the 3 easy methods explained below or for a quick run-through, you can watch this Youtube video:

A. From the Recurring investments page

The setup of a Recurring Investment can be initiated from the Recurring Investments page as per the steps below.

1. Click on the My Recurring Investments option in the stack menu per to the left of the EasyEquities logo, as in the image below.

Doing so will take you to the Recurring Investments page of the website.

2. Click on the Setup Recurring Investment button under the specific type of recurring Investment you'd like to make. 

There are 3 types as follows:

1. Shares / ETF's - clicking on the setup button under this type this will take Investors to the Browse companies page from on which they can search for and select shares / ETF's to buy in the usual manner. After selecting a share or ETF they should arrive at the Buy page of that share or instrument and can then continue to method B below.

2. Bundles - clicking on the setup button under this type will take Investors to the Baskets page of the site. After selecting the basket they like clicking on the buy button for that basket, they should arrive at the basket Buy page and can then continue to method B below.

3. Available Funds - unlike the two actions above clicking on the setup button under this type will take Investors directly to the setup page from which you can follow these steps:
  1. Input the amount of money you would like paid into your available funds / free cash each time.
  2. Input the percentage you would like the Recurring Investment to increase by each year anniversary of the setup
  3. Select the payment method you would like to use to move funds into your free cash - the only option for this type is Debit Order from Bank Account which will already be selected as the default option when you arrive on the page. Please note, if your bank account is not verified, you will see a warning that debit order functionality isn't available until you verify your bank account. Consult this FAQ article for details on how to do so.
  4. Select whether you would like the payment to occur every Month / Quarter / Year - if you select Quarter / Year you will need to select a month of the year on which the quarter / year begins.
  5. Select the day of the month on which you'd like the payment to go out of your account
  6. Review your banking details and confirm they are correct by clicking on the radio button
  7. Accept the terms and conditions by clicking on the radio button
  8. Complete the setup by clicking on the Continue button

B. From the Buy page of an instrument ( share / ETF ) or product ( basket / bundle )

When you navigate to the buy page of a share, ETF, basket or bundle, you will be greeted with the familiar buy options of selecting one of the standard amounts (Ie. R250, R500, R1000) to Invest together with the custom amount field - as shown in the image below.

To setup a Recurring Investment from here, please follow the steps below:

1. Select / enter the amount you'd like to Invest

2. Click on the Monthly button if you'd like to setup a Recurring Investment

3. Doing so, will take you to the add recurring investment screen with the recurring investment amount populated with the amount you selected / input on the previous page as well as a 10% default value for the annual increase percentage. Both of these figures can be changed on this page.

5. Choose whether you want the charges option for the specific Recurring investment to exclude / be inclusive of transaction fees. For each recurring investment setup, you can choose the option that suits you at the time. This will override your site wide excluded vs inclusive settings.

6. Choose a payment method for your Recurring Investment. The options are:

1. Debit Order from Bank Account - choosing this option you are giving EasyEquities permission to pull a selected amount from your bank account each month / quarter / year you choose.

2. Free Cash (available funds) - choosing this option will mean it is your responsibility to have free cash available in your account on the selected date of the Recurring Investment. If the funds are not there at the time we try to Invest them for you, the Recurring Investment will not be made.

If you see the message below, your bank account has not been verified and you'll notice that ONLY the free cash option of funding your recurring investment will be available to you. Should you wish to set up a debit order, you will need to verify your bank account by following the instructions in this FAQ article

7. Choose when you want the payments to occur. You have the choice of making the recurring investment every:

  1. Month
  2. Quarter
  3. Year

8. Choose the day on which you'd like the recurring investment to be made. You can choose the:
  1. 1st of the month
  2. 15th of the month
  3. 28th of the month

9. If you choose the quarterly or annually options, you will be required to select the month on which you want the quarter or year to start.

10. If you choose a Debit Order as the method to fund your recurring investment, you will to:
  1. Confirm that the bank details displayed to you on the screen are accurate.
  2. Accept the terms and conditions .

11. If you choose a Free cash as the method to fund your recurring investment, you need only accept the terms and conditions by clicking on the little box presented to you on the bottom left of the page. 

12. Once you have completed all your selections, click on the continue button - this will take you to the confirm your recurring investment page, which will summarise the full details of your recurring investment in 2 parts:
  1. Recurring Investment details - this part of the confirmation outlines the following details for you to check.
    1. The instrument / product you are buying
    2. The chosen payment method
    3. The frequency of the payment
    4. The annual % increase chosen (default value of 10% if not changed)
    5. The exclude fee or fee inclusive option chosen
    6. The date on which the first Investment will be made
  2. Investment cost - this part of the confirmation outlines the costs of the Investment for you to check
    1. Broker commission - usual brokerage cost of 0.25%
    2. Settlement and administration - the usual cost of 0.075%
    3. Investor protection levy (IPL) - the usual cost of 0.0002%
    4. VAT - levied against the 3 fees above
    5. Securities transfer tax and administration - the usual cost of 0.25% (this is not charged against investments made in a TFSA account)
    6. Recurring Investment fee - a new fee particular to the setup of the Recurring Investment

13. Once you have checked all of the details of your recurring investments and are happy they are correct, click on the Add to recurring button at the bottom right of the confirmation screen. 

Doing so will take you to the recurring investments page on which you will see a confirmation that the recurring investment was successfully created - see image below

You will also see details of the recently added Recurring investments which you can edit / remove at any time. Please see our FAQ article on How do I edit or remove a recurrring investment? for details on how do to that.

C. From the Cog icon on the corner of an instrument ( share / ETF ) you own

All the instruments an Investor owns can be found on the Account Overview screen of their Investment and TFSA accounts.

Each share / ETF on the page has a small red gear icon in the top right-hand corner of the rectangular block as highlighted in the image below.

Clicking on this cog icon will give the Investor a number of options in relation to that particular share / ETF

Should an Investor like a particular share / ETF and want to create a Recurring Investment for it, they can do so as follows:

1. Click on the red gear icon

2. Click on the Add Recurring option displayed in the image above 

Doing so will take the Investor to the add recurring investment screen

3. The Investor can now choose the particular details of the Recurring Investment they would like to setup, starting with entering the amount they would like to invest in the chosen instrument and if desired, changing the annual increase percentage (from the default value of 10%).

The Investor can then continue with the steps explained in detail from Step 4 onward of Method B in this FAQ article (see above).

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