Author Topic: So an interesting thing happened to me on Easy Equities...  (Read 2545 times)

Hamster

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Actually, a "dodgy" thing happened.

I was updating my positions on Bloomberg and to do that I drew the transaction report on my TFSA account. With regards to my DIVTRX:

On the 19th of Jan 2016 I sold all of it which brought my position to 0.
Then, because of site limitations I made 3 buy transactions on the 25th of April 2016. All in all I had bought a total of 747.2106 shares.

But, on the account overview page it shows I only have 727.2104. I went over it again - same result. I then immediately sent an email to them to look into this because somewhere 20 shares have gone missing. (this was yesterday)

Late today I get a response back requesting I send them a screenshot of my overview page (why I do not know since they have the data). I send it to them and then check the screenshot myself - I now have 747.2014 shares. I went back to my document from yesterday to check if I had a brain fart but no, yesterday it showed 727.2104.

So end result - all is fine (save 0.0002 shares that are still missing). The question is:

* was there a data issue that they fixed?
* was this a rebalancing process on their side?
* did something more "untoward" happen?

And then the biggest question - are there any other instances like this where shares are "missing" or don't add up.

Anyway, given past experiences, I just do not have trust in their system atm and come November I'm moving my TFSA to ABSA. It's like a car that keeps on breaking down: I cannot trust their platform.
« Last Edit: June 17, 2016, 05:53:20 pm by Hamster »

Patrick

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Re: So an interesting thing happened to me on Easy Equities...
« Reply #1 on: June 23, 2016, 10:14:32 am »
Just caught this now. Quite worrying, I wonder what would have happened if you never complained. I always thought the shares were registered in your actual name at the JSE, so regardless of what easy equities would show, you couldn't in reality lose anything...

They also made a mistake on my account quite early on. Dividends due to go into my TFSA actually went into my regular account. They sent me a mail saying it happened to a few people and would be reversed, but I still have R250 odd in my regular account, an account I have never made a deposit into.

I've had so many back and forward emails, but the money is still there...

joeman

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Re: So an interesting thing happened to me on Easy Equities...
« Reply #2 on: June 23, 2016, 12:17:22 pm »
This is freaking me out as I am in the process of moving my stocks from SB to EE mainly because of the costs and I'm starting to wonder if that is a smart move.  :(  :'(
Keep calm

Mr_Dividend

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Re: So an interesting thing happened to me on Easy Equities...
« Reply #3 on: June 23, 2016, 07:20:23 pm »
Quote
They also made a mistake on my account quite early on. Dividends due to go into my TFSA actually went into my regular account. They sent me a mail saying it happened to a few people and would be reversed, but I still have R250 odd in my regular account, an account I have never made a deposit into.

Not good and ANOTHER story that makes you wonder what goes on over there.  Getting a decent amount of money in the next month or so and although I would love to put it in my EE account and save a fair amount on fees's, I think I will have to then constantly go though the accounts with a fine tooth comb.

That said, nothing comes close for guys spending <R5000 per transaction. But jeez, they needs some controls.

PlatinumWealth.co.za

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Re: So an interesting thing happened to me on Easy Equities...
« Reply #4 on: June 27, 2016, 09:57:27 am »
Hamster was all of this resolved?
www.PlatinumWealth.co.za <- South African Investment and Finance forum.

Hamster

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Re: So an interesting thing happened to me on Easy Equities...
« Reply #5 on: June 27, 2016, 10:03:34 am »
As per OP the number was magically corrected (save 0.0002 of a share). Never took it further (no point).

PlatinumWealth.co.za

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Re: So an interesting thing happened to me on Easy Equities...
« Reply #6 on: June 27, 2016, 01:43:49 pm »
Nice!
www.PlatinumWealth.co.za <- South African Investment and Finance forum.