Deposits
You can deposit money into your Franc account in a few different ways, depending on what's easiest for you. All deposits must include your unique reference so we can correctly allocate your funds.
Please note that the bank account to pay into for Investment Goals is different to the bank account to pay into for Savings Account, RA, TFSA and Bitcoin.
You can deposit via:
- Instant EFT (in-app, if your bank is supported). Funds reflect on your balance immediately, and you'll authenticate via your banking app. Note that your account must be verified before using this option, and Capitec and Absa does not currently support Instant EFT for Savings Account, Bitcoin, RA or TFSA deposits.
- Manual EFT from your banking app. Select this option when clicking on Deposit to find the relevant banking details and your unique reference to execute the EFT from your banking app.
- ATM cash deposit. Cash deposit fees apply and only the net amount received will be invested.
- A recurring stop order or scheduled payment set up from your bank. Can be cancelled at any time and must include your unique reference.
Deposits can take 1–2 business days to reflect depending on your bank. Once received, we'll automatically invest it based on your goal and investment split. You can deposit money from different banks, and you can deposit even if your account verification is still pending.
Deposit splits
If you have more than one personal goal or a Shared Goal, you only need to make one deposit and we'll allocate it based on your Deposit Split settings.
You can update your Deposit Split:
- In your Profile tab – this applies to any manual EFTs.
- During Instant EFT – you can update it each time you deposit.
Banking details & references
If you're depositing via a manual EFT, note that Franc uses different bank accounts depending on the type of goal you're funding:
Non-investment goals (Savings Account, TFSA, Bitcoin & Retirement Annuity)
- Bank: Nedbank
- Account type: Current
- Account number: 1285788907
- Branch code: 198765
Investment goals (Cash Fund, Local Equity Fund & Offshore Equity Fund)
- Bank: Nedbank
- Account type: Savings
- Account number: 2011140927
- Branch code: 198765
If you bank with Capitec, Nedbank or FNB, Franc is already loaded as a public beneficiary. Just search for "Franc Stokvel" when making a payment.
Using the correct reference
Each goal has its own unique reference. Always use:
- Your personal Franc reference when depositing across your personal Investment and Shared Goals (found in the Profile tab), or
- A goal-specific reference when depositing into a Savings Account, Bitcoin Goal, or Tax-Free Savings Account (e.g. lebo1-sav or fred1-btc)
If you used the wrong reference, email your proof of payment to info@franc.app so we can allocate it correctly.
How much to contribute
We always advocate for starting small and building your deposit up as you build confidence. Start with an amount that fits your budget. Small, consistent contributions add up, and you can increase deposits as your income grows. Note that even if you've set a target or regular contribution, that's just a suggestion – you're not locked into depositing any set amount.
Deposit reminders
Need a bit of a nudge to keep the saving habit going? When you make your first deposit, we'll encourage you to set up a deposit reminder. If you do, you'll receive notifications via email, SMS, or app on the day of your choice to stay on track and avoid missed payments.
Streaks
Franc Streaks tracks consecutive deposits without a withdrawal being made – it's a way to keep track of your investing momentum. Celebrate progress and stay motivated – consistency is key for long-term goals.
Special cases to know
International deposits
You can deposit from an overseas bank as long as you use your unique reference and select the option to pay all fees. If fees are shared, the funds will be returned at your own cost. Franc can only pay withdrawals into bank accounts in South Africa, Namibia, Eswatini, and Lesotho. A R50 fee applies for non-South African accounts.
Deposits while verification is pending
You can deposit even if your account hasn't been verified yet. Funds will only be available to withdraw once verification is complete.
Depositing without a bank account
You can contribute via ATM cash deposit, but you will need a bank account to withdraw.
Offshore Equity Fund minimum
If your deposit is less than R200 per goal toward the Offshore Fund, it will automatically be invested in the Local Equity Fund instead.
RA and TFSA minimum
If your deposit is less than R125 towards either of these products, it will automatically be invested in the Savings Account instead.