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.