SBG Securities

What do I need to open an SBG Securities (‘SBGS’)
You need an AutoBank or E Plan card linked to a savings or current account.

What do I need to apply?
You need to be a registered Internet banking user.

How long does it take for my account to be opened?
It takes at least two business days.

What is the minimum amount I can invest?
The minimum investment amount is R500 per share per payment.

On what dates can I sell my shares?
Shares can be sold on pre-defined dates only. Refer to the Internet banking web site for dates.should link to site

How many accounts can I have?
You can only have one SBGS for each card registered for Internet banking.

Can I receive my proceeds in an agent bank account?
No, the proceeds will only be paid into a savings or current account linked to your card.

Do payments to SBGS affect my EAP limit?
No, payments to SBGS do not affect the EAP limit on your card.

How long does a sale take?
It takes a maximum of five days from the date the transaction was concluded for the proceeds from the sale of shares to be credited to your account.

What happens to my dividends and interest?
The cash value of dividends earned on shares and interest on cash will be kept in your account and used to buy shares when your next purchase order is received.

Can I trade over the phone?
No, only online.

Will I be taxed on the profit?
SBGS  will send you a statement of all your trades at the end of each tax year. This statement can be used when completing your annual tax return. You will either pay capital gains tax or income tax on your profits, as determined by SARS.

What happens to extra cash in my account?
The funds are kept until your next purchase request and added to the purchase amount.

Can I amend or delete my order?
Yes, however, we must receive the amendment notice at least one day before payment.

Can I make payments at an ATM?
No, only through Internet banking.

What interest rate is paid?
Interest is paid on all cash held in your account at a rate determined by the JSE.

What does it cost to buy and sell shares?
Buy - R20 + 1% of the value of the transaction
Sell - R20 + 0.75% of the value of the transaction
(VAT included)

Are there penalty fees if I don't buy or sell shares?
Yes, there is an inactivity fee of R25, which will be charged for every 60 days that there is no activity on your SGBS account

Can I choose the buying or selling price?
No, the price is determined on the day the shares are bought or sold. The price will be the same as that at which SBGS trades the shares on the JSE's trading systems

If I want to choose my own prices what do I need to do?
You need to convert to a full online share trading account. Go to the online share trading page on this web site and select "Convert" should link to online share trading

How do I check the current price of each share?
The closing share price on each business day will be displayed in your portfolio the next day.

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