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Round Bank

A radical way
to manage money

One Round at a Time

iOS 8.0+ and Android 4.4.2+ required

Round Bank is a call to action for all of us to invest in small businesses. Basically we all contribute $10 a month. There is a joining fee of $100. The contributions will then be used to fund purchase orders of members of the stokvel at a fee of 6% of purchase order value.


We are registering a bank. We have currently submitted an application to the at the Reserve Bank to become a CFI (Co-Operative Financial Institution). This will allow the ROUND to function in almost every way like a bank.


The Roundbank Round will be run from the Roundfund Platform (Android & iOS Apps available). Once registered on the app, simply click on the blue plus button at the bottom of the screen and click “Join Group”; search for The Roundbank and you will be ready to go.

The Road To Round Bank

RoundMoney Round

This is where we are right now (transitioning to stage 2). We have a $10 a month Roundstock that buys us assets on The Roundfund. The members & proceeds of these assets are the human and financial capital we will need to get to stage 2

Co-operative Financial Institution

This is a saving and credit union that is registered with the Co-operative Banks Development Agency (CBDA) within national Treasury (with new Twin Peaks Regulation, with The Prudential Authority at The Reserve Bank). This institution is able to take deposits and offer credit to its members.
Requirements: 200 Members, $100 000 in capital.

Co-Operative Bank

This is very similar to a CFI, the major difference being that the minimum capital requirement is $100 000 and for all intents & purposes it is a bank for it’s members to draw credit from as well as them equally owning it.
Requirements: 200 members
$1million in capital Reserves

Mutual Bank

A mutual bank is the middle ground between a cooperative bank and full commercial bank. It is licensed to take deposits by the Reserve Bank, but unlike a commercial bank, each depositor owns a piece of the bank, can share in its dividends and has a voting right at the Annual General Meeting (AGM). Unlike a Co-operative bank, Mutual banks have strict capital reserve requirements as well as strict regulation very similar to that of a commercial bank.
Requirements: $10million in reserves for registration
Expected Registration Date: December 2020

Commercial Bank

This is a fully fledged bank, governed and registered with the reserve bank. These are strictly regulated and are the corner stone of the economy. Unlike a mutual bank; these are not owned by the depositors but rather shareholders. All are public companies with very high reserve requirements.
Requirements: $25million in capital reserves for registration
Expected Registration Date: December 2025

Frequently asked questions

The Round Bank is a call to action for all of us to invest in small black owned businesses. Basically we all contribute $10 a month after paying a $100 joining fee.  The contributions will then be used to buy assets that will be collectively owned by the members.

The Roundfund App has a pre-populated constitution for the members which covers most of the framework within which we operate. It is a living constitution, which means it can be and will be amended accordingly based on the mandate of the Roundfund.

There are contractual agreements with all parties involved at each stage of the process, from you signing up to the Roundfund, to the RoundVest purchasing assets to the entrepreneur to the point the return is paid back by the entrepreneur.

At this stage it is not open for under 18s. Each person can represent only one person( themselves). If someone under the age of 18 wants to participate their parents/ guardian needs to do it on their behalf.

When time approaches to register as a Co-operative Financial Institution (CFI) we will have a working committee elected by the members. As a starting block, the Roundfund has a single mandate to purchase assets on The People’s Fund. This is in the interests of expediency so that things are simple. There will be a guiding principle for the purchase of the assets, however, which is diversification.
As the Roundfund grows we will look for governance mechanisms that allow for the election of members based on experience in the respective fields. Currently, as the mandate is clear, the administration only requires the communication of which assets the Roundfund owns currently and the proceeds due to it.

The bank account is held under the Roundfund trust account. Roundfund can only action or have access on the bank account according to the mandate of the Roundfund and the instructions given on its platform.

Effortless savings

Taking down the barriers between money and wealth.

iOS 8.0+ and Android 4.4.2+ required