Finlee

about Birthday Stokvel

Make that special moment one to remember every year

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Overview

That special moment of the year when you were born has to be celebrated with friends and family. With a birthday stokvel, you can a certain amount to treat yourself.

How it works

A member of 12 people contribute R 100 and when is your birthday you would get R 1100. This would work provided that each month has a person whose birthday is on and in case there's two people in a month, the amount will be split.

Rotational

You contribute based on the number of members participating on a monthly basis

Sponsored Rotational

You contributed on a monthly basis not based by the number of members participating

Benefits

For Rotational

  • It improves your savings habits
  • You know the people that are participating
  • Funds transferred to your account monthly
  • Amount can be split in case there's two people in one month

For Sponsored Rotational

  • It improves your savings habits
  • People receive the amount equally at the same time
  • You don't have to wait for your turn
  • Disbursement of contribution alternates between two groups (Group A and B)

Getting Started Start contributing

Search and Join

Find the groups your interested in participating by either searching for them or joining the ones being created by Finlee

Create

You create 2 types of stokvels for 2 purposes for money or birthdays. Each type of stokvel provides different benefits.

Contribute

You can contribute for each month in advance to show members that you're a trustworthy person and prevents any issues in the long run.

FAQ Have questions

what is this about?

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Which payment processor are you using?

We use Payfast to process all payments

Will money be deducted automatically?

At the moment, NO. You will have to make sure you contribute towards the stokvel within a period of 25 days

How is the schedule determined?

The schedule is automatically set based on when you have joined or when your birthday is.

what if there is more than 10 people in a month?

If using the normal rotational stokvel, then the amount will have to be split and as for sponsored stokvel, people will receive the equal amount on that month without it splitting

what is required?

We would need a copy of your ID and proof of residential address(1-3 months old)

what if someone does not continue contributing after receiving the funds?

We may then have to consider registering the amount as debt cause he/she did not stick to the stokvel purpose