We have been receiving a lot of questions about the Property Magicians Stokvel and how it operates, so we’ve created this page to answer all your questions. We have tried to make it as comprehensive as possible and have addressed the most frequently asked questions.
I have a few people interested in the stokvel where do they register?
IF YOU ARE BASED IN THESE 4 COUNTRIES: SOUTH AFRICA, NAMIBIA, LESOTHO OR SWAZILAND:
Please go to Google Play or iTunes to download the Stokfella app and join as a member and then search for the Property Magicians Stokvel and request to join as a member.
If you are not based in the above mentioned 4 countries: you have to pay money into the Stokvel bank account and we will invest the money directly into the stokvel account using Transfer Wise (wise.com) and send a proof of payment to: vangile (at) wealthy-money (dot) com.
You will receive monthly updates of your investment every month.
They can also join the Whats App group:
To join the What's App group, please click on the link below and ask to join: wealthy-money.com/whatsapp
2. How do I make a payment in to the stokvel?
IF YOU ARE BASED IN THESE 4 COUNTRIES: SOUTH AFRICA, NAMIBIA, LESOTHO OR SWAZILAND:
You join Stokfella. Once you’ve been accepted as a member in the stokvel, do an EFT transfer from your bank into your Stokfella account, using your unique reference number.
Here is a short video clip from Stokfella on how to do the transfer: https://youtu.be/EKOTzdYpbJM
IF YOU ARE NOT BASED IN THE ABOVE MENTIONED 4 COUNTRIES: You can make payments via the bank account:
Here are the company bank details for international transfers:
Bank: FNB (First National Bank)
Name: WealthyOnes (Pty) Ltd
Branch Code: 250 655
Account Number: 62913695857
Swift code: FIRNZAJJ
Reference: Your email address/ Full name
Bank Address: 6th floor, 1 first place, Simmonds street, Johannesburg, South Africa, 2001
Company Address: 7U Wilhemia Avenue, Johannesburg, Gauteng, South Africa, 1715
After you do the transfer send a quick email with your name, phone number, email address and Proof of Payment to Penny at: stokvel (at) wealthy-money (dot) com
3. What are the Stokfella banking details?
Here you go:
Please remember your unique Stokfella Reference number is critical!!! Where my blue mark is! Also the account details appear when you go to “make payment” on the App, next, then acct details appear
4. Where to I get my Stokfella reference number?
Your member reference number is the one that the Stokfella App gave you when you first downloaded and registered on WOPS. The 115 number that’s unique to you. Pls keep it safe. It links your money to your name
5. Is there a video or instructions showing how to make a payment using Stokfella?
Here is a short video clip from Stokfella on how to do the transfer: https://youtu.be/EKOTzdYpbJM
6. When will my money reflect on Stokfella?
When you do a transfer on Stokfella, the oney will reflect on the Stokfella app after 48-72 hours.
7. have you automatically joined the stokvel once you pay the joining fee?
Yes.
8. Is there an option to pay a once off annual contribution or does it have to be a monthly contribution onlY?
Great question
Once off is great but so is a monthly contribution.
When you pay once off that money will all be used to invest in the next deal. When you pay monthly your money can be invested in various deals. All the deals have different investment periods and returns on investment.
9. What happens one my investment is paid out? What are my options?
When you money is returned to you with the return on investment, you can choose to leave it in your Stokfella account or in our bank account, take the interest and use it or withdraw all of the money.
If you redeposit money from eWallet and reinvest the money in WOPS again… whatever the deal we are involved in, your money participates there again and continues to grow.
To better understand your investment decision, we recommend watching this video: https://youtu.be/2Pcr3nTe6Cw
10: Is there a minimum amount to participate in the stokvel or aNY deal? Is this going to be R1000 every month for 5 years ? Can a lump sum be made or we need to stick to monthly payments?
The joining fee for the Stokvel us R1000 (US$100). Paid once only. From then on it’s up to you what you pay and how you pay. Obviously the ROI on any deal is calculated on the amount you have contributed towards that deal. You choose if you want to make a lumpsum payment and how much you want to pay every month.
11. For those who cannot access the stokvel app, what reference do we use? Those not based in the 4 countries mentioned
Please use your email address as the reference and then let our secretary know your name and email address and send her your Proof of Payment at: stokvel (at) wealthy-money.com
The stokvel email address is also in the description of the Whats App Group.
12. How do we separate the joining and Registration amounts? do we have to pay joining fee separately and Then pay our contribution Next? or a R1000 will automatically be deducted from any Bulk amount I pay?
The joining fee is the first R1000/ US$100 you pay and it is separated by admin on the back end. The existing members already are on a different database. You won’t see this.
Example: you can pay R5000 and R1000 will be deducted for the joining fee and then R4000 invested.
13. Which email to send POP to? My payment is through the bank
Please use your email address as the reference and then let our secretary know your name and email address and send her your Proof of Payment at: stokvel (at) wealthy-money.com
14. What is the return on my investment?
The stokvel is focused on investing in property deals that yield a return on investment of 10.5% or more. The return on investment of every deal will differ depending on the deal. The terms and investment period of each deal will differ from deal to deal.
15. How long does it take to be approved as a member of the stokvel on the Stokfella app? How will one be notified of this?
It only takes a few hours - we try to do all our approvals in 24 hours. Vangile is in charge of approvals and you will receive a notification from Stokfella. In fact, everyone that’s a member will receive a notification from Stokfella letting them know that a new member has joined.
17. What does it mean if the Stokfella app gives me a "Top Up" message?
If you get a message to “Top Up” you are probably receiving this because you are asking to claiming fund which are not in your Stokfella account
18. How does the transaction fee on the Stokfella app impact on the deposited amount
We are paying for the fees until end of 2022
19. How do I calculate the rate of return on my stokvel investments?
We did a class on this, where we teach you how to calculate your rate of return: https://youtu.be/2Pcr3nTe6Cw
20. What does the “Claim” Button on Stokfella do?
When you make a claim, you are asking us to pay you money from the Stokvel and if you haven't made a payment to the Stokvel there is no way I can approve your claim cos you haven't invested yet.
Even then you much have invested with us for at least 6 months to get your money back or if your money is invested in a deal, you have to wait for the deal to pay your money back.
So claims are not you putting money into your stokvel account.
For more information on the Stokvel, please check out the following links: