Flip - I just have to rant about this. I setup an Auto Share Invest account for my daughter, before she was born. Now being born, well and alive, I want to set up a Standard Bank Account for her, in her name, and transfer "my" auto share invest account into her name. Mainly in the event that if I croak at least this account wont incur estate duties and her guardian will be able to access cash until my estate goes through. I will / would still obviously manage the account until she comes of age. You would think this would be possible.....ha NOT!
Apparently I can only open up an auto share invest account in her name when she turns 7. Now what genius decided that 7 would be a good age for someone to have an auto share invest account. Is that when you suddenly become financially aware - I certainly missed that boat big time.
And they call it "simpler, better, faster"....hmmm.
And dont get me started on the flippen call centre....grrrr