Sokoni Savings Pocket Terms

1. What the Savings Pocket is

The Sokoni Savings Pocket is a closed-loop, prepaid shopping balance linked to your registered Sokoni account. You voluntarily add money when you choose and may apply the balance toward purchases on www.sokoni.co.za after you meet the minimum spend threshold.

It is not a bank account, deposit account, investment, loan, or gift card. It does not earn interest and is not transferable to other people.

2. Eligibility

• Registered, signed-in customers with a verified email may use one pocket per account.
• You must accept these terms (version 2026-06-01) before your first top-up.
• Sokoni may refuse, suspend, or close a pocket for fraud, abuse, chargebacks, or breach.

3. Limits

• Minimum single top-up: R100
• Maximum single top-up: R5 000
• Maximum balance: R15 000
• Minimum balance to spend at checkout: R200

Until you reach R200, your balance is visible but locked for spending (it remains your prepaid credit).

4. Top-ups and spending

Top-ups are processed via PayFast. Balance is credited only after confirmed payment (ITN/webhook), not when you return from the payment page. At checkout you may opt in to use your pocket for part or all of the order total (together with PayFast for any remainder).

No Sokoni top-up fee applies at launch. We will give at least 30 days' notice before any fee.

5. No cash withdrawal

You cannot withdraw pocket balance to a bank account except where law or a court order requires it, or Sokoni publishes a regulated closure refund process after legal approval. This is prepaid shopping credit, not e-money with open-loop cash-out.

6. Refunds and returns

Your Consumer Protection Act rights on goods remain unchanged. Where a return or cancellation is approved, amounts paid from your pocket may be credited back to your Savings Pocket within a reasonable period (typically within 3 business days for pre-dispatch cancellations). Refunds to the pocket are not cash withdrawals.

7. Dormancy and account closure

After long inactivity we may send warnings before classifying a balance as dormant (process subject to CPA fair terms). If you close your Sokoni account, unused pocket balance may be forfeited after notice where below practical refund thresholds, or refunded via EFT after identity verification where required by law.

8. Insolvency risk

If Sokoni ceases trading, pocket balances may not be fully recoverable. You are an unsecured creditor for prepaid balances. This risk is disclosed at activation.

9. Fraud, chargebacks, and AML

Stolen-card top-ups, promo abuse, or suspicious activity may result in balance reversal, suspension, and cooperation with payment partners. Enhanced verification may apply for high cumulative top-ups.

10. Changes

Material changes will be communicated with at least 30 days' notice where required by the Consumer Protection Act. Continued use after the effective date constitutes acceptance of updated terms.

11. Privacy

We process pocket ledger data, payment references, and fraud signals under our Privacy Policy and POPIA for pocket operation, disputes, and legal compliance.

12. Contact

Questions: support@sokoni.co.za or the on-site support chat.