A Recurring Investment can be set up by following one of the 3 easy methods explained below:
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 Recurring option in the menu per the image below. Doing so will take you to the Recurring Investments page of the website.
2. Click on the Menu in the top left hand corner of the screen and select the Recurring option
3. Clicking on the setup recurring button under this tab will take Investors to ‘Browse the market’ page in which either ETF’s or Unit trusts can be selected.
4. After selecting an instrument of your choice you should arrive at the Buy page of that ETF from which they can continue from method B below.
B. From the Buy page of an Instrument
When you navigate to the buy page of an ETF, 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 Invest2. You will see options to click on Recurring or Once Off Investment - see the two light-blue buttons in the image below
3. Click on the Recurring button - this will change the color of the button from light-blue to dark-blue.4. After selecting the recurring option - this 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 0% default value for the annual increase percentage. Both of these figures can be changed on this page.User Accounlable Funds - choosing this option will mean it is your responsibility to have funds 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 User Account Available Funds 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
6. Choose when you want the payments to occur. You have the choice of making the recurring investment every:
- Year7. Choose the day on which you'd like the recurring investment to be made. You can choose the:
- 1st of the month
- 25th of the month
8. 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.
9. If you choose a Debit Order as the method to fund your recurring investment, you will to:
- Confirm that the bank details displayed to you on the screen are accurate.
- Accept the Terms and Conditions.10. If you choose Available Funds 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.11. 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:
- Recurring Investment details - this part of the confirmation outlines the following details for you to check.
- The ETF you are buying
- The chosen payment method
- The frequency of the payment
- The annual % increase chosen (default value of 10% if not changed)
- The date on which the first Investment will be made
- Investment cost - this part of the confirmation outlines the costs of the Investment for you to check
- Broker commission - usual brokerage cost of 0.25%
- Settlement and administration - the usual cost of 0.075%
- Investor protection levy (IPL) - the usual cost of 0.0002%
- VAT - levied against the 3 fees above
- Recurring Investment fee - a new fee that covers the cost of administering the recurring investment facility12. 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 belowYou 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 recurring investment on SatrixNOW? for details on how do to that.
C. From the Cog icon on the corner of an ETF you own
All the ETFs an Investor owns can be found on the Account Overview screen of their Investment and TFSA accounts.
Each ETF on the page has a small blue gear icon in the top right-hand corner of the rectangular block as shown by the downward pointing arrow in the image below.
Clicking on this cog icon will give the Investor a number of options in relation to that particular ETF
Should an Investor like a particular ETF and want to create a Recurring Investment for it, they can do so as follows:
1. Click on the blue 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 0%).
The Investor can now continue with the steps as explained in detail from Step 4 onward of Method B in this FAQ article (see above).