How to Make a Deposit Into Your Franc Account

You’ve signed up for a Franc account, set up your investment goal, timeline and amount you want to invest…now what?

Now’s the time to put your money where your goals are! We’ve made it really easy to deposit into your Franc account so you can start building your wealth and growing your money simply and quickly.

There are two ways to make a deposit into your account:

Option 1: Make an InstantEFT in the Franc app

Banks supported by InstantEFT on Franc app

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Our InstantEFT payment system is available to account holders at these banks: FNB, Capitec, Standard Bank, Absa, Investec, Nedback, TymeBank, African Bank and Bidvest.

Step 1: Simply log into the app, tap on the deposit button, and choose the Deposit via Instant EFT option.

Step 2: Fill in the amount you wish to deposit, which goal/s you want it to go into, and how often you want to deposit.

Step 3: Check the details in the deposit summary, then click on the orange arrow at the bottom of the screen to go through Ozow’s payment process. Ozow will request you to log into your banking app for the deposit to be processed.

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What’s Ozow? Ozow is a payment solution that has been chosen by thousands of South African businesses, from Takealot to Vodacom, to process their payments. They adhere to the highest international standards of security.

Once your InstantEFT is processed, the deposit will reflect immediately in your account. Like the name says, it’s instant! It will just take a few days for us to receive the money and then for it to be invested into your fund, during which time you won’t be able to withdraw it.

Option 2: Make a manual EFT from your bank account

You can also deposit into your investment from your own banking app. Firstly, make sure your Deposit Split is set correctly (more on that below).

Step 1: Log into your bank account and go to the feature that allows you to make a deposit.

Step 2: Enter our account details, found below:

Name: Franc Stokvel
Bank: Nedbank
Account Type: Savings
Account Number: 2011140927
Branch Code: 198765
Recipient Reference: This is important 🚨Use your unique personal reference code, which can be found at the top of your Profile tab on the app. If you don’t, we can’t allocate your deposit to your account.

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We’ve made it even easier! If you bank with Capitec, Nedbank or FNB, we are already loaded as a public beneficiary so it’s easy peasy for you to add us. Just search for "Franc Stokvel" in the payments section and you will see our details.

Tips to help you deposit seamlessly

We have a few tips to make your depositing even simpler:

Set a stop order on your banking app. To help you save regularly, you can automate your investments so that money goes off your bank account on the same day every week or month. This is great if your goal is to invest regularly and build up your investment.
Set a reminder on the Franc app. Set deposit reminders via the Profile tab on the Franc app. You can choose if you want to be reminded to deposit weekly or monthly, which day you want to be reminded on, and through which channel.

The Deposit Reminder screen on the Franc app.

What’s a Deposit Split?

Setting your Deposit Split on the Franc app.

If you’ve set up more than one personal goal or have a Shared Goal, then you should update your Deposit Split so we know which goal to put your money in.

That means you don’t have to make a deposit for every goal – you just need to make one deposit and we’ll allocate it according to what you’ve set.

There are two ways to do this:

You can update your Deposit Split via the Profile tab on the Franc app. If you make a manual EFT, we’ll allocate the money according to that setting. You can change this at any time.
Every time you make an InstantEFT, you can update your deposit split.