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ABSA stockbrokers becoming more expensive

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Patrick:
They've created an inactivity fee of R35 for every 60 days you don't transact. As someone who funds their TFSA in a lump sum this won't do for me.

They've done the same with their ETF only account, and for their regular account they now require you to trade 3 times per month before they waive the monthly fee. That one used to be trade 5 times a year and pay no fees, then it was no fees AFTER your 5th trade per year, now it's 3 times per month.

I don't like companies that behave this way, I find it very dishonest. The least they could have done would be to grandfather the rule for current users and only apply it to newcomers. As such I have already sent in the form to move my TFSA to Easy Equities, goodbye ABSA.

Patrick:
So just tweeted that my moving forms to EE are in and that I'm happy that they've never shifted goalposts. Their CEO replied that they never will. It's in writing now :)

PlatinumWealth.co.za:
EasyE is awesome!

Mr_Dividend:
Excellent - For me, I do trade with my TFSA - so will leave it as is for the moment.  My main account has 23 counters - will just find out how much it will cost to move to EE. Thinking it might take 3 - 4 years or so to recoup the cash(depending on how much they increase the rates). Might do a bit of Tax/loss/resetting - offsetting some fees.

Patrick:
I was under the impression that moves are free. You'll actually transfer positions to EE not cash.

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