Tuesday, 7 February, 2023

Joint Accounts

Bring dreams to life, for you and your loved ones.

If you would like to build your investments with another person, such as a spouse, business partner, or family member, a joint account will allow you to do so.

Joint investment accounts are equally owned by two to three individuals, and all account owners have equal rights and access to the account.

Why should you open a joint account?

Share your goals and dreams

If you share goals and dreams, why not work together to reach them? By combining your funds, you will have more capital to work with. A larger initial investment will grow your wealth faster if you choose to reinvest and compound your earnings. It may also be useful to be accountable to each other for your investment goals.

 

Share the love

You may invest on behalf of someone you care about that may not be able to do so for themselves, such as your child or grandchild. In this way, you can set your loved ones up for the future.

Imagine paying your daughter’s university tuition or buying your grandson their first plot of land. All thanks to investments you have made over a long period of time.

 

Underage individuals

Children under the age of 18 have to open a joint account with a parent or guardian until they are legally able to operate their own accounts.

How do we open a joint investment account?

You and your investment partners will have to download and fill out this form. It will require information from all the intended account holders including ID. Once complete please scan and send it back to us for account approval.

You can get in touch with us at info@altxafrica.com if you need any assistance with the account opening form.

 

What can we do with a joint investment account?

Once your account is created, it functions like any other ALTX investment account.

You will have access to our online and mobile touchpoints to place your orders, and you can choose from any of our innovative investment products to achieve your goals.

What do we need to know about our joint investment account?

Minimum Investment

The minimum investment on ALTX is 100 units, which is equivalent to a face value of only UGX 10,000. That’s right, with just ten thousand shillings you can begin earning from your investment instantly.

 

Account Maintenance Fees

ALTX charges a subscription fee of $6 (or approximately UGX 21,000) per year. This is an annual fee used to maintain our systems and ensure you have an unrivaled investment experience.

The fee is collected when you transact. That is only when you buy (invest) or sell (liquidate).

 

Regular Investment

In order to benefit from your investment account, it is best to plan to invest regularly. This can be every week, every month, or every quarter. The frequency is up to you but it is important to stick with it.

Regular investment allows you to achieve smooth growth of your wealth over time.

If you would prefer to make smaller investments, for example, investors taking advantage of our UGX 10,000 minimum, you will need to do so more often (at least weekly) in order to meet your goals.

Any two or three private people who wish to invest together, for instance, couples or parents with children under 18 who would like to save for their future.