A Recurring Investment is a two-fold process, and it is very important that you understand this in order to carry out both elements of the process so that the platform can process your regular investments correctly. The two elements of the process are:

1. Moving funds from your bank account to EasyEquities

2. Telling the platform what to purchase with those funds.

In this article, we deal specifically with how to get those funds into the minor account and then provide a hyperlink to a separate detailed FAQ article (HYPERLINK)  which explains how to tell the platform what to buy with those funds.

The transfer of funds into free cash for a minor account can actually be done in one of 2 ways as follows:

A. Via Manual Debit Order - through EasyEquities

Using this method, you give EasyEquities permission to transfer funds from your bank account to the platform at the regular intervals you choose.

Due to the way debit orders work, they, unfortunately, can NOT be setup for Minor accounts on the platform in the same way as they can for persons of legal age. 

This method involves the Authorised User of the minor account completing the following 2 simple steps.

1. Complete this Debit Order Authority form.

2. Email the signed form to [email protected] 


PLEASE NOTE:
If you opted for this method of transferring funds automatically on a regular basis to the minor account, you NOW need to instruct us what instrument/s you would like to buy with those funds.

You can do this by setting up a Recurring Investment on the platform by following step B on the How do I set up a Recurring Investment on a Minor account? FAQ article.




B. By setting up a recurring payment / stop order on your bank account - through your bank

Using this method, you instruct your bank to transfer funds from your bank account to the EasyEquities minor account at the regular intervals you choose.

Most banks now offer their clients the ability to setup recurring payments / stop orders on their online banking platform.

This is a simple way to regularly transfer funds from your bank account to an EasyEquities Investment / TFSA account where it can be used by a Recurring Investment that is set up to be made out of Free Cash.

As the options for the specific day of the month on which Recurring Investments can run on EasyEquities are the 1st, 15th and 28th day of each month, recurring payments should be setup to transfer funds to free cash a minimum of 2 full working days (probably safer to choose 3 days) before the day you intend setting up the recurring investment for.


PLEASE NOTE:
1.> It is absolutely imperative to the success of a recurring payment (stop order) that the correct reference be used on that recurring payment so that we know which client and which account (Investment or TFSA) to allocate the funds to.

Please read this FAQ article for a detailed description of the reference you should use - What reference should I use?

2.> If you opted for this method of transferring funds automatically on a regular basis to the minor account, you NOW need to instruct us what instrument/s you would like to buy with those funds.

You can do this by setting up a Recurring Investment on the platform by following step B on the How do I set up a Recurring Investment on a Minor account? FAQ article.