Let’s get you FICA verified.
You’ve registered - nice one. Before you can dive into investing, there’s one more step: FICA verification. It sounds official (it is), but for most people it’s quick and happens automatically in the background.
Here’s everything you need to know.
EasyEquities is a licensed financial services provider, which means we’re legally required to verify the identity of everyone who opens an account. This comes from the Financial Intelligence Centre Act (FICA) - South Africa’s law for preventing money laundering and financial crime.
It’s not optional, and it’s not about us not trusting you - every regulated investment platform has to do this.
For the vast majority of individual users, it’s automatic. As soon as you register, we run identity checks in the background using the details you gave us - no extra effort needed on your side.
Typical timing:
- Most accounts: verified within 1–2 hours
- Some take up to 4 hours
- In rarer cases, up to 24 hours
If it’s been longer than 2 business days and you’re still not verified, that’s your cue to submit a support ticket so the team can look into it.
Usually not. If you’re an individual over 18 registering with a South African ID, automated verification typically handles everything.
You may be asked for documents if:
- Your details couldn’t be automatically confirmed
- There’s a mismatch between what you entered and official records (like Home Affairs data)
- You’re opening a more complex account type (minor, company, trust, stokvel, foreign national, etc. - those have their own document lists)
If we need something from you, we’ll email you exactly what’s required. No guessing games.
The most common reason is incomplete or missing information on your profile - especially in the KYC (Know Your Client) section. If any required fields are outstanding, verification can’t complete until they’re filled in.
Quick checklist if you’re stuck:
- Is your KYC / personal details section fully completed?
- Does your ID number match what’s on your ID document exactly?
- Is your mobile number entered without the country dialling code?
- Is your citizenship captured on your profile? This one’s easy to miss - an empty citizenship field can quietly block both FICA verification and basic things like saving your mobile number.
Sort those out first - it resolves the majority of hold-ups.
Good question, and a common mix-up - but no, these are two completely separate processes.
| FICA / Identity Verification | Bank Account Verification | |
| What it confirms | Who you are | That the bank account you’ve linked belongs to you |
| Required for | Using the platform at all | Withdrawals and recurring investments (debit orders) |
| Can be pending independently? | Yes | Yes |
You can be fully FICA verified with no bank account linked yet, and equally, your bank account status has zero effect on your FICA status. They just don’t talk to each other - if you’re having trouble with one, it's not necessarily because of the other.
During registration, you were asked whether you’re a:
- DPIP - Domestic Prominent Influential Person
- FPPO - Foreign Prominent Public Official
- PEP - Politically Exposed Person
- PIP - Prominent Influential Person
- Or a family member / close associate of someone in one of these categories
This is a standard compliance question required under FICA (Schedule 2), designed to flag individuals in high-profile public or influential roles - think government officials, senior judges, state-owned entity executives, or senior business leaders who deal heavily with government.
For the overwhelming majority of people, the answer is simply “No.”
Answered “Yes”?
That does not stop you from opening an account. It just means your account may go through enhanced monitoring as part of standard compliance practice - nothing more dramatic than that.
This trips people up, so here’s the honest breakdown:
| Detail | Can you change it yourself? |
| Name, ID number | Not currently self-editable - needs to go through support |
| Address | Yes, updatable by you |
| KYC details | Yes - and this one’s important, outstanding KYC info is the #1 reason FICA doesn’t complete |
| Beneficiaries | Only applicable to Retirement Annuity (RA) accounts |
Where to update your details:
- Mobile app: My Profile
- Web: EasyID, My Profile, Account Management
If something needs changing that you can’t edit yourself (like your name or ID number), submit a support ticket and our team will help sort it out.
If you’ve registered as a foreign national, you may notice you’ve only got access to a USD account rather than the full suite.
That’s because ZAR, TFSA, and RA account types are only available to residents of South Africa and the Common Monetary Area (Namibia, Lesotho, and Eswatini). If you’re outside that group, you’ll see USD (and demo) accounts by default.
If you do have a South African ID and a South African bank account, it’s often possible to get ZAR access activated - see this FAQ for how to open an account as a foreign national.
- Double-check your KYC / personal details section is fully complete
- Confirm your ID number and mobile number were entered correctly
- If it’s been under 2 business days, sit tight - this is completely normal
- If it’s been longer than 2 business days, submit a support ticket using Access Your Account → My Account isn't Verified Yet drop-down options so it goes straight to the right team
Stuck?