When opening a new trading account with GT247.com as an individual, you will be required to submit FICA documentation to our support team in order to verify and activate your trading account.
In a nutshell, a South African citizen is required to provide us with proof of the following:
- A copy of your ID / Passport or Driver's License
- Proof of residence (not older than 3 months)
- Proof of bank account (a bank statement or letter from your bank)
The above documents must be emailed to firstname.lastname@example.org using your trading account number as the subject heading.
Usually, a successful verification is completed within a few hours during business days but please allow 48 hours in order for our team to attend to your verification.
Once successful, you will receive an email notifying you that your trading account has been successfully verified.
Read below for alternative acceptable documents that may be used in place of the aforementioned:
|Acceptable verification documents |
Proof of Identification
|South African Citizen |
- A valid South African issued Identity card OR green bar-coded identity document
If not available then...
- A valid South African driver's licence* or
- A valid South African passport*
*subject to approval by GT247.com, and must be accompanied by an affidavit confirming why identity card or Green bar-coded ID cannot be provided
- Valid passport bearing passport number and photograph
- Second means of verification i.e. drivers license
- Asylum seekers/refugees must submit a valid passport / unexpired section 22 or section 24 permit as well as a valid Maroon refugee identity document.
|Proof of Physical Residential Address|
A bank statement not older than 3 months displaying your name, physical address and the account number is usually best for this as it will act as a proof of address as well as bank verification all in one.
The document which must reflect name/initials and surname, physical address or property descriptions (i.e. erf/stand numbers) and must be less than 3 months old.
A list of valid FICA documents that can be used to verify the physical residential address is detailed below:
- A utility bill, such as water, electricity or rates (less than 3 months) We may accept a utility bill that is addressed to a post box number if it shows your name, erf/stand number, township and suburb
- A bank statement or financial statement from a financial institution (less than 3 months old)
- A copy of a signed lease agreement (by both parties), (less than 1-year-old)
- A municipal rates and taxes invoice (less than 3 months old)
- A mortgage statement from another financial institution, (less than 6 months old)
- A telephone account, ie. a landline or cellphone account (less than 3 months old)
- An official tax return/tax assessment (less than 1-year-old)
- Official correspondence from the South African Revenue Services ("SARS") (less than 3 months old)
- A recent life insurance policy issued by an insurance company
- Correspondence from a body corporate or share–block association (less than 3 months old)
- A valid television license document
- A recent short–term insurance policy document or a short–term insurance renewal letter (less than 1-year-old)
- A retail account statement/invoice (less than 3 months old)
- Where the person live in any type of residence (eg. hostel/barracks) a letter from the administration department of such residence on an official letterhead
Problems with Proof of Physical Address
It may be the case that you do not have one of the suitable "proof of address" documents listed above with your name on it.
This is usually the case where you may be living with another person who is the homeowner such as a spouse, parent, sibling, life-partner
In these situations, you will need to provide "Proof of Residential" address by emailing us the following documents:
A document from the list of valid FICA documents in the row above, less than 3 months old, reflecting:
The name/initials and surname of the person you live with (Ie. spouse, parent, sibling, life-partner etc.)
The physical address or property descriptions (i.e. erf/stand numbers)
A copy of the identity document of the person you live with (Ie. spouse, parent, sibling, life-partner etc.)
The "Confirmation of address" form - available HERE - completed and signed by the person
you live with (Ie. spouse, parent, sibling, life-partner etc.)
If you are a student residing at a student residence, hostel or boarding house and are unable to provide proof from the homeowner, please send the following:
A written statement from the educational institution or the residence, hostel or boarding house (on a formal letterhead) confirming your residence at the physical address of such residence, OR
The attached "Confirmation of address" form, completed and signed by a representative of the educational institution, together with a proof of their identity
Proof of Tax Reference Number
This is ONLY applicable to individuals opening a USD account.
For an individual opening such an account we require a SARS Document containing the individuals:
- Income Tax number