DMA

YOUR FAQs ANSWERED

Please click on one of the below links for quick access

Transfers

General Account Mangement

Onboarding

Trading & Reporting

Treasury

Transfers

Removal of Delisted Shares

Please download and complete the BIC Transfer form for Shares. DMA’s trading desk will remove the delisted shares at no cost, however it will be subject to brokerage fee.

The Dematerialization of Share Certificates

Please do download the following documents for the dematerialization of share certificates. Dematerialization is the process of converting shares from physical certificates to electronic form.

Please not: there is a charge of 1,000 USD per share certificate

Document requirement for Direct Registration System (DRS)

The DRS enables clients to elect to hold their assets in book entry form directly with the issuer. The following documents are required: Canadian DRS:

Cost: Canadian DRS – 1000 CAD per instrument United States DRS – 1000 USD per instrument

HOW TO COMPLETE THE PRICE CHANGE TEMPLATE

Please download and complete the price change template

Column A = Client DMA ID

Column B = Client DMA Account number

Column C = Position ID of instrument (this can be found on Webconnect under Open positions , position details)

Column D = Ticker code (i.e IMB:xlon)

Column E = Quantity shares

Column F= Old price (incorrect price of the shares)

Column G = New price (price it should be – please note that GBP should be in Pence and ZAR in Cents. Certain ETF’s are tradeable in Pence and Pounds – please take note of this)

Column H= No need to complete this.

Column I= Value Date of the price

Column J = No need to complete this

Please note: There is a charge of USD 10 per line for a price change

Position Movements

Please download and complete the Position movement template. Please provide supporting documentation for third party local (JSE) transfers. DMA do not process any offshore third-party transfers.

How to complete the position movement template.

  • Client ID: Client’s DMA ID
  • From account: Account number, positions should be moved FROM
  • To account: Account number, positions should be moved TO
  • Ticker: Abbreviation used to uniquely identify traded instrument (AAPL:xnas)
  • Amount: Amount of shares that need to be moved
  • Position number: Position ID, which can be found under Position details on Webconnect
  • Instrument Type: Instrument Type (etc. Shares, Bonds, Mutual Funds)
  • Related Orders Cancel?: leave blank
  • Purchase price: The price the shares need to be moved at

Position moves cost: USD 10 charge per line split.

Local (JSE) third party internal transfer costs: ZAR 100 per line capped at ZAR 1000.

For internal cash movements, please download and complete the cash journal template to transfer funds internally

Stock Transfer IN/Out of DMA

The following documents are required:

  • Stock transfer template (The same template can be used for both stock transfers into DMA, as well as stock transfers out of DMA)
  • PDF valuation statement reflecting the clients name and account number from the receiving or sending broker not older than 3 months
  • Wrapped products – DMA require a signed instruction letter from the wrapper provider confirming the transfer
  • Asset Swap transfer out – DMA require a confirmation letter from the receiving entity (SARB approved Institutional Investor) confirming they have sufficient capacity to accept the transfer and will, subsequently to receipt, fulfil Quarterly Asset Allocation Reporting in terms thereof.

How to complete the stock transfer template:

A. Client ID: DMA ID number
B. Account number: DMA account number
C. Product type: Share – SH | Bond – BO | Mutual Fund – MF
D. ISIN: Identification Share Number.
E. Bond code: Bond number (Leave blank if only shares are being transferred)
F. Exchange: XJSE , XNAS, XDUB, XLON …
G. Currency: ZAR, USD,EUR, GBP …
H. Amount: Amount of shares
I. Price: Open price or market price (change of beneficial owner) of share
*Please note, GBP prices need to be in Pence and ZAR prices in Cents. Certain ETF’s are tradeable in Pence and Pounds.
J. Broker name: The Counter party’s name (Platform name)
K. Broker contact: A contact person at the counter party
L. Broker phone: A telephone number of the contact person at the counter party
M. Broker mail: Email address of the contact person at the counter party
N. Client account at broker: The client’s account number held at the counter party

Please do not change the layout of the template as the system will reject it and the instruction would then need to be resubmitted.

Please ensure that all instruments in GBP are quoted in GBP and all ZAR prices are quoted in cents, there will be a USD 10 per line charges if the prices are completed incorrectly.

There is an account closure fee of USD 10 / ZAR 100 per line capped at USD 100 / ZAR 1000.

General Account Management

How do I elect on a corporate action?

You have the ability to elect on a corporate action for a client account or, if you are an investment manager, a segment of clients. This is done on the DMA trading platforms.

  • Go to DMATraderGo or DMAMonitor
  • Go to the ACCOUNT section of the platform:
DMA TraderGo Picture1
  • Click on “Other” and “Corporate Action Events”:
DMA TraderGo Picture2
  • Select your CA event and elect accordingly.

Moving cash between sub accounts

Please complete this journal and submit it through to support@dma.co.za

From Account: The account where the cash currently sits

To Account: The account where the cash needs to be transferred to

Amount: The amount of cash to be transferred

Value Date: The value date of the transaction

Booking Text: The booking text that will appear on the client statement

Currency: currency of the amount stated. Please note the currency needs to match the currency of one of the accounts involved in the transfer

Requesting IT3 Certificates

DMA offers IT3C and IT3B certificates for client investments. We can generate bulk statements for your client base or for a relevant individual.

Please submit your request with the relevant client ID or structure ID (if bulk) to support@dma.co.za

IT3 Statements can be pulled off your CRM system. Please engage with your RM (Relationship Manager) if you require access to this platform.

How do I give trading access to individuals on a structure or legal entity?

DMA requires an Authorised Dealer Form to be completed and submitted to dqm@dma.co.za

Along with this dealer form, DMA will require FICA details for the individuals stipulated on the form.

It is important to note that DMA keeps only one Authorised Dealer Form on file for a relevant structure. If there is a request to add or remove a certain individual, DMA will require a new Authorised Dealer Form.

  • Click here for the Authorised Dealer Form.
  • Complete the name of the FSP/Trust/Corporate in the Company section and the relevant structure or client ID in the Account section:
Authorised Dealer Form Picture1
  • Complete the individual’s details, email address and phone number in the relevant boxes:
Authorised Dealer Form Picture2
  • Collate and submit the Dealer Form and FICA details to dqm@dma.co.za

How do I give my clients online access?

Clients are set up with either trading access or reporting access. You can arrange the preferred default access setting with your Relationship Manager. For more on giving your client access to the relevant trading or reporting platform, see below.

Trading Access If your clients require trading access, direct them to: https://trade.dma.co.za  Your client will need to use the relevant client ID that has been issued, as well as a password. If your client requires a password to be set up or reset, please direct them to https://passwordreset.dma.co.za  or alternatively reset the password through your CRM platform.

Reporting Access If your clients require reporting access, direct them to: https://trade.dma.co.za/monitor  Your client will need to use the relevant client ID that has been issued, as well as a password. If your client requires a password to be set up or reset, please direct them to https://passwordreset.dma.co.za  or alternatively reset the password through your CRM platform.

Remediation Process

General In terms of the Financial Intelligence Centre Amendment, Act 1 of 2017, we are required to identify and verify our clients’ personal information, known as the KYC or Know-Your-Client process, as well as obtain sufficient information on the client’s activities and the purpose for which our services are used.

Why do we need to collect KYC information? Due to legislation we need to know who our clients are and how they intend to use our services. We therefore need to ask clients to update their client information and potentially supply supporting documents, e.g. to verify source of funds and wealth.

Do we ask all our clients for this information? Yes absolutely. We are obliged to check and update a client’s personal information and documents, not only when we begin a new relationship with them, but also throughout the client relationship – no matter who the client is, or how long they have been with us.

What if a client who should be terminated holds cash and has open positions? If the client has not closed any open positions and withdrawn the cash on the account, DQM will notify the Head of Sales to close the open positions. Once the positions have been closed, Sales will refer the account to either Applications or Support for the payment process to be initiated. Funds will be transferred to the most recent account used for funding.

Is the client allowed to renew their documents after termination? No, if the account is already terminated then a new account will need to be opened and new documents submitted.

What documentation should be collected from the client? The kind of documentation needed varies depending on client type, client relationship and personal circumstances.

Onboarding

Completing a W8BEN Form

Due to the nature of these forms being IRS requirements, we cannot advise instructions in filling out the necessary fields. The IRS has put together instructions for the relevant forms. Click the relevant link below.

W8BEN instructions

W8BENE instructions

Opening a Corporate account under an investment manager

Opening a corporate account under an investment manager requires the following documentation:

  1. Corporate application form (Completed and signed by the authorised individual, unless the investment manager has a discretionary agreement with the client and the appropriate resolutions are in place with DMA).
  2. Power of Attorney (Signed by the authorised individual and a signatory of the investment manager).
  3. Cover Letter indicating brokerage profile, money manager fee and house structure (if relevant).

Supporting Documentation (Original hardcopies are not required. Documentation for Corporates established outside of South Africa must be certified; Documentation for South African Corporates, South African directors and South African shareholders need not be certified. DMA may require further documentation at its discretion and is obliged to identify the entity down to ultimate beneficial owner unless an exemption is applied on a risk analysis)

  1. Certificate of Incorporation
  2. Change of name documentation (if applicable)
  3. Memorandum of Incorporation / Memorandum & Articles of Association / Constitution (if applicable)
  4. Register of Directors
  5. Register of Shareholders (reflecting all shareholders with 20% or more of the voting rights at a general meeting of the entity)
  6. Entity organogram for complex structures
  7. Resolution/ Signatory Rules identifying those individual persons authorised to act on behalf of the entity (“Authorised Persons”)
  8. South African Barcoded Identity Document/card (Primary Identification; both pages/sides) for all Directors, Shareholders, Authorised Persons ^ – All non-South African Directors and Shareholders, copy of passport
  9. Utility bill as proof of residence for all Directors, Shareholders, Authorised Persons (dated in the last three months) ^^
  10. Utility bill Proof of registered address/operating address if not specified in the company documents already listed ^^
  11. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank.

^^ Where ID is not available, Passport or Temporary ID document (a valid explanation must be provided as to why SA ID is not available as they are Secondary Identification documents)**

^^ Where utility bill is not available: Bank/ mortgage bond statement (dated within 3 months of application to DMA) Letter from Bank confirming residential address (dated within 3 months of application to DMA) Property Title Deed or Lease Agreement A telephone account (dated within 3 months of application to DMA) A valid television license document (applicable to SA Res only) An official document issued by Tax Authority (dated within 3 months of application to DMA) An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it’s clients/customers (dated within 3 months of application to DMA)

Applicants that are unable to provide one of the above should contact DMA for further guidance.

Where a Director or Shareholder is an entity, please see FICA requirements dependant on entity type (Corporate/Trust) for that particular Director/Shareholder.

Opening a Joint Client Account under an investment manager

Opening a joint investment account requires the following documentation:

  1. Joint application form (Completed and signed by the clients, unless the investment manager has a discretionary agreement with the clients and the appropriate resolutions are in place with DMA).
  2. Power of Attorney for each individual (Signed by the clients and a signatory of the investment manager).
  3. Cover Letter indicating brokerage profile, money manager fee and house structure (if relevant).

Supporting Documentation for each individual

(Original hardcopies are not required. If the client is not a South African resident, you must provide certified copies of your documentation. DMA may require further documentation at its discretion)

  1. South African Barcoded Identity Document/card (Primary Identification); both pages/sides ^ – All non-South African clients, copy of valid passport
  2. Municipal Utility Bill as proof of residence (dated within 3 months of application to DMA) ^^
  3. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank
  4. W8BEN if the client is opening an offshore investment account

^ For South African applicants where ID is not available, Passport or Temporary ID document (a valid explanation must be provided as to why SA ID is not available as they are Secondary Identification documents)

^^ Where utility bill is not available:

  1. Bank/ mortgage bond statement (dated within 3 months of application to DMA)
  2. Letter from Bank confirming residential address (dated within 3 months of application to DMA)
  3. Property Title Deed or Lease Agreement
  4. A telephone account (dated within 3 months of application to DMA)
  5. A valid television license document (applicable to SA Res only)
  6. An official document issued by Tax Authority (dated within 3 months of application to DMA)
  7. An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it’s clients/customers (dated within 3 months of application to DMA)

Opening a Trust Account under an investment manager

Opening a trust account under an investment manager requires the following documentation:

  1. Trust application form (Completed and signed by the authorised individual, unless the investment manager has a discretionary agreement with the client and the appropriate resolutions are in place with DMA).
  2. Power of Attorney (Signed by the authorised individual and a signatory of the investment manager).
  3. Cover Letter indicating brokerage profile, money manager fee and house structure (if relevant).

Supporting Documentation

(Original hardcopies are not required. Documentation for trusts established outside of South Africa must be certified; Documentation for South African trusts. South African trustees and South African beneficiaries need not be certified. DMA may require further documentation at its discretion and is obliged to identify the entity down to ultimate beneficial owner unless an exemption is applied on a risk analysis)

  1. Trust Deed
  2. Letter of Authority from Master of the High Court or other relevant authority (if applicable)
  3. South African Barcoded Identity Document/card (Primary Identification; both pages/sides) for all Trustees, Named Beneficiaries as well as the Founder/Donor ^ – All non-South African Trustees/Beneficiaries/Founders/Donors, copy of passport
  4. Utility bill as proof of residence for all Trustees, Named Beneficiaries, as well as the Founder/Donor (dated in the last three months) ^^
  5. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank
  6. W8BENE (if this is an offshore investment)

^ Where ID is not available, Passport or Temporary ID document (a valid explanation must be provided as to why SA ID is not available as they are Secondary Identification documents)

^^ Where utility bill is not available:

  1. Bank/ mortgage bond statement (dated within 3 months of application to DMA)
  2. Letter from Bank confirming residential address (dated within 3 months of application to DMA)
  3. Property Title Deed or Lease Agreement
  4. A telephone account (dated within 3 months of application to DMA)
  5. A valid television license document (applicable to SA Res only)
  6. An official document issued by Tax Authority (dated within 3 months of application to DMA)
  7. An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it’s clients/customers (dated within 3 months of application to DMA)

Applicants that are unable to provide one of the above should contact DMA for further guidance.

Where a Trustee or Beneficiary is an entity, please see FICA requirements for a Corporate for that particular Trustee/Beneficiary.

Opening an Individual Cliient Account under an investment manager

Opening an individual investment account requires the following documentation:

  1. Application Form (Completed and signed by the client, unless the investment manager has a discretionary agreement with the client and the appropriate resolutions are in place with DMA.)
  2. Power of Attorney (Signed by the client and a signatory of the investment manager).
  3. Cover Letter indicating brokerage profile, money manager fee and house structure (if relevant).

Supporting Documentation

(Original hardcopies are not required. If the client is not a South African resident, you must provide certified copies of your documentation. DMA may require further documentation at its discretion)

  1. South African Barcoded Identity Document/card (Primary Identification); both pages/sides ^ – All non-South African clients, copy of valid passport
  2. Municipal Utility Bill as proof of residence (dated within 3 months of application to DMA) ^^
  3. Proof of Banking Details in the name of the Applicant i.e. Bank Statement, Cancelled Cheque or Letter from the Bank
  4. W8BEN if the client is opening an offshore investment account

^ For South African applicants where ID is not available, Passport or Temporary ID document (a valid explanation must be provided as to why SA ID is not available as they are Secondary Identification documents)

^^ Where utility bill is not available:

  1. Bank/ mortgage bond statement (dated within 3 months of application to DMA)
  2. Letter from Bank confirming residential address (dated within 3 months of application to DMA)
  3. Property Title Deed or Lease Agreement
  4. A telephone account (dated within 3 months of application to DMA)
  5. A valid television license document (applicable to SA Res only)
  6. An official document issued by Tax Authority (dated within 3 months of application to DMA)
  7. An account statement or invoice issued from an Accountable Institution obliged by law to identify and verify it’s clients/customers (dated within 3 months of application to DMA)

Trading & Reporting

Allocation of dividends on CFD Positions

Dividends on CFD positions are booked into your account on the Ex-date with value on Pay-Date. If you are eligible to receive dividends when holding a position in a CFD, DMA will allocate cash to your account.

  • Please note that if you are holding a short position in the CFD, the amount will be deducted from your account.
  • You can find details of these movements in the “CFD Cash Adjustments” report in the “Account” tab.

Calculating CFD Financing

  • Due to the fact that CFDs are margin products and long positions result in the borrowing of funds by the client, financing costs apply to the borrowed amount if the long position is held overnight. Intraday CFD positions are not charged financing.
  • As they are subject to a mark down, short positions may also result in financing costs, which may result in the interest credit becoming an interest debit.
  • Financing is charged on CFDs on single stocks and stock indices, but not on expiring CFDs (commodity and Forex CFDs, and some stock index CFDs)
  • The financing commission is calculated daily and charged on a monthly basis.

Calculating Margin on a Client Account

Margin Utilisation is calculated as = (100 * Used for margin) / (Account value + Other collateral – not available as margin collateral).

Calculating Conversion P/L

Stocks are cash products, so if you buy a USD-denominated stock (for example from a CHF denominated account), your profit or loss will also be influenced by how the USDCHF exchange rate changes while you have the position open.

Example: Let’s examine the example of a position in the United States Oil Fund, LP (USO:arcx) where 46 shares were bought on a CHF account on the 11th of December 2014. By the 16th of February, the ETF had fallen from 22.69 to 19.62 – meaning the client was losing on the trade itself.

Besides that, a further loss has been accrued due to the CHF strengthening against the USD over the two months since the shares had been bought, so now the rate applied on the conversion back into the account was less favourable (0.92661365 vs. 0.97438770 when the position was originally opened.) These rates take into account any conversion cost applied.

Enabling short-selling of Contract options for a Client

Writing/selling Contract Options requires activation of an advanced option profile. For this, we need your written confirmation that you are aware of the risk involved in shorting options and have relevant experience. Kindly contact DMA Support to request the advanced option profile.

This is only applicable for Contract Options (meaning stock options, options on futures and indices) – you can short-sell FX Options without activating the advanced option profile.

Please send this through to trading@dma.co.za.

Margin Closeouts

Clients who trade in leveraged products will utilise available margin to hold the relevant positions. The available margin level will depend on the cash balance and available collateral offered through any cash equity positions.

  • Clients will receive margin calls (up to 100%) to their registered email, and through push notifications on their platform logins.
  • DMA will allow a client to go over 100% margin for 47 hours. If the client stays over 100% for over 47 hours, DMA will automatically closeout all leveraged positions at market.
  • If a client breaches the 150% margin utilisation level, DMA will closeout all leveraged positions at market – regardless of the aforementioned time period.

DMA Misdeal procedure

If a trade has been placed in error, the following must be done and communicated to DMA:

  • Immediately counter the relevant trade. Example: Account is long 200 Sasol Ltd:
DMA Misdeal Prodedure Picture1

Misdeal is made and 200 Sasol Ltd shares are sold:

DMA Misdeal Prodedure Picture2

Immediately counter the misdeal by buying 200 Sasol Ltd shares:

DMA Misdeal Prodedure Picture3
  • Notify trading@dma.co.za of the misdeal by indicating the account in question and the relevant trade that was placed in error.
  • DMA will move the two lines (the original sell and the buy) to your error account for the two lines of the trade to settle.
  • You will be required to settle the loss of the trade in the error account.

Net Free Equity

Net Free Equity (NFE) is:

The cash balance of your main trading account,

PLUS OR MINUS any unrealised profits or losses from open CFDs, FX Forwards and Futures on your main trading account,

PLUS the market value of any FX Options on your main trading account,

MINUS any margin required for financing open positions on your main trading account and sub-accounts.

  • To avoid paying overdraft interest on your account you are required to hold sufficient cash collateral ensuring a positive Net Free Balance.
  • Interest is calculated daily and settled monthly – within seven business days after the end of each calendar month.
  • You can view the NFE in the “Interest Details” report of the “Account” tab.

Pulling Client statements on DMA Monitor

Trade.dma.co.za/monitor is a reporting platform that allows various client reports to be pulled. These reports can be defined in terms of dates, exported to Excel/PDF or viewed on the platform itself.

  • Use the Search field to find and select your client:
Client Statements Picture1
  • Select “Historic reports”:
Client Statements Picture2
  • Select the report you wish to pull

Related Orders

Market Orders These are orders to buy or sell a specified instrument as soon as possible at the price obtainable in the market. BUY: When placing a Market Order to buy, the order is filled immediately (when the market is open), at the best available price for the specified amount. SELL: When placing a Market Order to sell, the order is filled immediately (when the market is open), at the best available price for the specified amount.

Limit Orders Limit Orders are commonly used to enter a market and to take profit at predefined levels.

When a Limit Order is triggered, it is filled as soon as possible at the price obtainable on the market. Note that the price at which your order is filled may differ from the price you set for the order – if the market’s opening price is better than your limit price. BUY: When Limit Orders to buy are placed below the current market price (passive order), it will be executed when the market reaches the price level specified. If the order is placed above the current market price (aggressive order), the order is filled instantly at the best available price below or at the limit price. SELL: When Limit Orders to sell are placed above the current market price (passive order), it will be executed when the market reaches the price level specified. If the order is placed below the current market price (aggressive order), the order is filled instantly at the best available price above or at the limit price.

Stop Orders Stop Orders are commonly used to exit positions and to protect against trading losses. It’s a resting order that will convert into a market order, once the order price has been reached. BUY: Stop Orders to buy are placed above the current market level and are executed when the market reaches the price level specified. SELL: Stop Orders to sell are placed below the current market level and are executed when the market reaches the price level specified.

Stop Limit Order A Stop Limit Order will be executed at a specified price (or better) after your specified Stop Price has been reached. Once the stop price is reached, the Stop Limit Order becomes a limit order to buy (or sell) at the limit price or better. A resting order, which will convert into a limit order with a separately defined limit, once the order price has been reached.

Trailing Stop Order A Trailing Stop Order is a stop order that has a trigger price which changes. As the market rises (for long positions), the stop price rises according to the proportion set by the user, but if the price falls, the stop price remains unchanged.

This type of stop order helps an investor to set a limit on the maximum possible loss, without limiting the possible gain on a position. It also reduces the need to constantly monitor the market prices of open positions. A resting order, where the order price is set at an initial level and a firm distance to market, which will allow the order price to move along with market movements opposite to the order direction, and which will convert into a market order, once the order price has been reached

Related (Contingent) Order

Several types of related orders are available:

“If Done”

An “If Done” order consists of two orders: A primary order that will be executed as soon as market conditions allow it, and a secondary order that will be activated only if the first order is executed.

“One Cancels the Other”

A “One Cancels the Other (O.C.O.)” order consists of two orders. If either of the orders is executed, the related order is automatically cancelled. 3-way contingent orders are where two orders are placed if a primary (If Done) order is executed. These orders are themselves related as “O.C.O.”

Subscribing to Live Pricing on the DMA Platform?

Most instrument classes are 15 minutes delayed when it comes to displaying the relevant pricing feeds (last traded, bid and offer). Live pricing is depicted by the following sign next to its feed in the watchlist or open positions:

Live Price

Live Pricing Picture1

Delayed Price

Live Pricing Picture2

In order to subscribe to live pricing, follow the steps below:

  • Ensure you are on the top level of your structure (no client name should be displayed):
Live Pricing Picture3
  • Select “Account”:
Live Pricing Picture4
  • Select “Other” and “Subscriptions”:
Live Pricing Picture5
  • Select “Subscribe” on the relevant exchange for which you require live pricing. Level 1 is your top bid/offer and level 2 displays depth in the bid and offer tables:
Live Pricing Picture6

Complete your details and click “Subscribe” at the end of the form submission.

Treasury

Intermediary Bank Fees on Withdrawals

If your bank does not have a direct relationship with DMA’s bank (Crown Agents Bank (UK) [CAB]), your bank will need an intermediary/correspondent bank to facilitate transfers, a service for which the intermediary/correspondent bank will charge. The intermediary/correspondent bank then acts on behalf of the beneficiary bank (your bank).

The intermediary bank/correspondent bank is the bank that receives the bank transfer for your bank in the country of the sender (UK). Example: If you want to draw money from your trading account to your bank account in South Africa (FNB/ABSA/Standard Bank etc.), and there is no direct relationship between CAB and your bank, then the money is first transferred to the intermediary/correspondent bank for onward transfer to your bank and subsequent deposit into your account.

DMA transacts on a “shared costs” basis for withdrawals out of your trading account – meaning the charges are split between DMA and yourself. DMA will pay its bank charges and any other payment order costs, while you will bear the charges levied by any other banks (intermediary/correspondent, beneficiary bank etc.) and you will receive the balance.

Setting up a recurring Withdrawal

DMA offers the ability to set up a standing instruction on an account when it comes to withdrawals.

  1. Complete the Periodic Withdrawal Form and have it signed by the authorised individual for the account.
  2. Provide updated proof of banking, which includes the account holder’s name and bank account number.
  3. Submit the above documents to vault@dma.co.za.

What are the funding details for DMA Investment Accounts?

Please contact your relationship manager for funding details.

PLEASE NOTE:

  1. The funds must originate from an account held in your name, we DO NOT accept 3rd party deposits.
  2. We DO NOT accept funding from a credit card.
  3. If you are banking with FNB or Standard Bank, you will need to drop the first digit of the account number : i.e. 121-011845-002 will therefore become 21-011845-002.

Please make sure you submit the relevant proof of payment to vault@dma.co.za with the appropriate V code.

How do I withdraw money from a local investment account?

To withdraw funds from a local investment account, send an email instruction with the appropriate V code to vault@dma.co.za.

DMA will withdraw funds to the registered bank account on file. If you need to ascertain the details that DMA have saved on file please see the counterpart profile on DMA’s CRM system or contact your Relationship Manager.

How do I withdraw money from an offshore investment account?

If you are requesting a withdrawal from your investment account, DMA requires a Withdrawal Form to be completed and submitted to vault@dma.co.za using the appropriate V Code.

Completing a Withdrawal Form:

Completing a Withdrawal Form
  1. Select if want the account to be closed post the withdrawal.
  2. Indicate the DMA account number from which the funds need to be withdrawn.
  3. Indicate the name of the DMA account holder.
  4. Name of receiving bank.
  5. Address of receiving bank.
  6. SWIFT code of receiving bank. Please note this can be found on your bank’s website.
  7. Clearing code of your receiving bank. Please note this can be found on your bank’s website.
  8. Receiving bank’s branch name.
  9. Amount to be withdrawn.
  10. Currency of amount to be withdrawn.
  11. Account number or IBAN of the receiving bank account.
  12. Reference for the payment.
  13. Corresponding bank’s name. This can be found on your bank’s website or by contacting the receiving bank.
  14. Corresponding bank’s address. This can be found on your banks website or by contacting the receiving bank.
  15. Corresponding SWIFT. This can be found on your bank’s website or by contacting the receiving bank.

Working with DMA Treasury

In order to ensure efficiency with withdrawal and deposit requests, DMA encourages partners to make use of “V-Codes” when engaging with vault@dma.co.za.