Keep your stokvel savings safe

2018-11-22 06:02

IF you are a member of a cash savings club, advise members of your club of the following tips that will assist your club from being victim to cash robberies:

• Refrain from making cash deposits of club members’ contributions on high risk days.

• Ensure persons depositing club cash contributions or making withdrawals are accompanied by at least one club member or more.

• A stokvel, savings club, or burial society can arrange for members to deposit cash directly into the club’s account instead of collecting cash contributions.

• Refrain from announcing the date when the stokvel will be paid out to other persons who do not need to know.

• Arrange for the club’s pay-out to be electronically transferred into each club member’s personal account or accounts of their choice instead of carrying large amounts of cash or keeping the cash at home.

— Supplied.

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