StokFella understands that these days, life can be hectic and it is possible for a member to forget where the next meeting is; forget how much they owe and forget who claimed in the past in their Stokvel group. All these factors create admin frustration for the group administrators (Chairman, Treasurer and Secretary) and can cause challenges or mistrust within the Stokvel. Hence why, some Stokvels never reach their full potential, or dissolve very quickly.
With a quick look on the StokFella App, be reminded of who the host is and where the meeting will be held. Further, monitor how much you owe or how much other members owe in your stokvel.
All these and many more, help the group and its members to manage their Stokvel activities better and understand their financial position from a group and personal level.
Basic is a Free offering solution that allows you to manage up to 15 members stokvel activities. The solution does not allow you to do any actual monetary management.
Advance is an investment offering solution that allows you to manage up to 50 members stokvel activities. The solution allows you to do actual monetary management at low fees which automates your stokvel administrations and contributions.
The offering allows your contribution funds to be linked to an investment fund of your group’s choice provided by authorised financial service provider and receive great targeted returns no matter the value of your funds.
It is also a great way to be fully transparent by conveniently making payments or claims anywhere and anytime on your mobile from and to your stokvel in a simple and the safety of your own home or stokvel gathering.
No, StokFella does not offer any financial advice nor employ financial advisors.
You are welcome to contact our registered and accredited FSP partners below for further assistance:
• Luthuli Capital (Pty) Ltd FSP Number 47081
Contact Detail: firstname.lastname@example.org
No, there are some sensitive financial information that will only be seen by approved members of your Stokvel group, such as your Stokvel’s group amount and total claim amount. However, some other financial information such as contribution fee will be available for anyone to see in order to make an informed decision to join or not join your Stokvel group.
Upon signup, you set up your own secret PIN code to access and transact. None of your card details are stored on your phone or on our servers. All transactions are encrypted using or IT partners security processes called tokenisation.
It is important you do not share your secret PIN code with anyone (including your fellow stokvel members).
No, if a member owes the group money, the App will decline the member to exist/delete the
group. The member must first settle all outstanding amount to be able exist/delete group.
Else a resolution guided by the powers of the Stokvel constitution by existing members must
be taken to advise the Chairman to remove the member from the group via Group Members.
Yes, if a member can no longer host the Stokvel event due to unforeseen circumstances, the Chairman is able to amend and update the host of the meeting. Once this is done, the App will update the group meeting and send a notification to all members.
Trust is the foundation of all Stokvels which members rely on. In most cases, members likely know each other on a personal level. StokFella App is built on top of this foundation, that trust is between members and the App only facilitates and assists in the management of their activities.
If you choose to join a Stokvel group found via the App where you do not personally know the members; we encourage you to get to do detail due diligence; know all members of that Stokvel personally first and monitor their Stokvel until you are comfortable to join the group.