Pilot rules and privacy

Version 2026-10-pilot-v2. Please read this before you register. If anything is unclear, ask the administrator before you join.

1. What this is

STOKVEL is a small, private savings circle (a "stokvel") run as a pilot among people the administrator knows. The administrator acts as chairperson, treasurer and secretary. It is not a bank and it does not pay interest or returns. Only take part with money you can afford to commit for the whole period.

2. How the pilot group works

  • A group has 4 seats and runs for 4 months. It starts only once all 4 seats are filled. There can be more than one group, and a member can take part in more than one; each group is paid separately, with its own payment reference.
  • Every month each member pays the monthly amount set for their group, and each month one member, in seat order, receives the whole pot (the monthly amount times the number of members). For example, with 4 members paying R100, the pot is R400. Your group's own amount is always shown on your page before you join.
  • Over the whole group every member pays in exactly as much as they receive once. In the example, R400 in and R400 out. If everyone pays, nobody gains or loses money.
  • The administrator assigns the seats. Once the group has started the order stays fixed. You can see your own seat and payout month on your profile, never other members' names.

3. No deposit - trust

  • There is no security deposit. The pilot runs on trust, which is why every member is checked and approved by the administrator first.
  • Only join with people you would trust with your own money, and only commit what you can pay every month.

4. Paying in and paying out

  • Pay your monthly amount by EFT from your own bank account by the 28th of every month, using your own payment reference (shown on your profile). You carry your own bank's EFT fee; the administrator carries the fee on payouts.
  • Upload your proof of payment on your profile. The administrator confirms every payment against the bank statement.
  • Payouts are made around the 15th of the following month. A payout is never made until every member's payment for that month is confirmed.
  • Payouts go only to a bank account in the member's own name. Before a payout you will be asked to re-confirm your banking details, and the payout is held until you do. If you change your banking details there is a waiting period, and the administrator will check with you that the change is really yours.

5. Late or missed payments

  • There are no late fees. You will receive reminders before and after the due date.
  • If a payment is 7 days late you receive a warning. At 14 days you receive a final notice. After that the administrator may remove you from the group.
  • Because a payout waits for everyone's payment, a late payment delays the member who is due to be paid. Please pay on time.

6. Leaving or being removed

  • If you want to leave, tell the administrator as early as possible.
  • If a member who has already received their payout stops paying, they are removed and they may not join future groups. The administrator decides how any remaining shortfall is handled.
  • If a member leaves or is removed before receiving a payout, the administrator decides how their confirmed payments are returned and tells them in writing.

7. Blocked members

A member who is removed for not paying may be blocked from registering again. For this, the system keeps your identifying details (email address, cell number, ID number and, later, bank account) in a protected form, so that a blocked person cannot simply register again with a different email address. The administrator decides every block personally. You may ask the administrator to review a block by writing to jwelthagen@gmail.com.

8. Your personal information

Under the Protection of Personal Information Act (POPIA) the administrator is the "responsible party" for your information.

  • What we collect: your name and surname, email address and cell number; your password (stored only as a secure hash); your ID number and the bank account details you give us once you are approved (the account must be in your own name); proof of payment you upload; and a record of your payments, payouts and activity on this site.
  • Why: to run the savings group, to pay the right person, to contact you about payments, and to recognise people who were blocked for non-payment. Your ID number is used only to confirm who you are and to recognise blocked people.
  • Who sees it: only the administrator. Other members see only how many seats are filled, plus their own details.
  • How it is protected: the site works only over HTTPS, sensitive items such as your ID number and bank details are stored encrypted, and access is logged.
  • How long: while you take part, and afterwards for as long as needed to keep financial records and the blocklist.
  • Your rights: you can ask the administrator what is held about you, ask for corrections, or ask for deletion of anything no longer needed. You may also complain to the Information Regulator of South Africa.

9. Changes

These rules may change for future groups. The version you accepted, and the date, are recorded when you register. Changes will be communicated to you before they apply.

10. Questions

Write to the administrator: jwelthagen@gmail.com.