Terms of Use

Version date: 2026

These Terms and Conditions govern the operation of the Stokvel Account offered by Massmart through its Makro and Cash & Carry operating banners. By applying for or using the Stokvel Account, the Stokvel and its members agree to be bound by these Terms.

A “Stokvel Account” is an account made available by Massmart, acting through its Makro and Cash & Carry stores, to a registered Stokvel group for the limited purpose of enabling its members to make pre-payments and apply those payments exclusively toward the purchase of goods from Massmart stores.

1. The sole purpose of the account is to enable Stokvel to place funds towards future purchases at Massmart stores and to access Stokvel pricing, promotions and benefits.
2. The account may not be used as a general savings vehicle or for on‑demand withdrawals.
3. The account is not a deposit‑taking product or banking service. Funds credited constitute pre‑payments for goods and services.
4. Massmart may conduct identity verification and sanctions/watchlist screening at onboarding and on an ongoing basis. By applying, the Stokvel and members consent to all due diligence necessary for compliance with FICA and our internal AML requirements. The following minimum requirements must be followed to open an account in our stores:
   

   4.1 the Stokvel must submit its name and constitution (or complete the in‑store equivalent)

   4.2 valid identification, proof of address, email and cellphone numbers for at least two members (Main and Second Members)

   4.3 details for any additional members and completed forms.

5. Massmart relies in good faith on the information, mandates and instructions submitted by the Stokvel’s nominated representatives and has no obligation to verify internal authority beyond standard identification checks.
6. Massmart assumes no responsibility for, and will not mediate, arbitrate, investigate, validate or become involved in, any internal disputes, governance issues or authority challenges between members. All such matters must be resolved solely by the members.
7. Members must ensure that information provided to Massmart is accurate, complete and up to date, and must promptly notify Massmart of any changes to membership, authorised representatives, contact details or signatories. Members are responsible for ensuring contributions and account activity comply with applicable law.
8. Payments into the Stokvel Account may be made as follows:
   

   8.1 By direct deposit or electronic transfer into the Banners nominated Banking account, using your account number as a payment reference; or

   8.2 in cash at the Banner specific Store, provided that such cash payment does not exceed R5 000.00 (Five Thousand Rand), or any amount as Massmart may, in its discretion, determine.

   8.3 Linked account card issued by the store's top-up processes.

9. All payments require reconciliation. Members must retain proof of payment.
10. The account is not interest‑bearing, and no interest accrues on balances.
11. The account may not be used for general savings unrelated to Massmart purchases, money remittances, withdrawals outside the permitted refund triggers, storing funds belonging to non-members, and loan extension to third parties.
12. You may only be entitled to a refund on any balance in your Stokvel Account at our sole discretion and in compliance with the applicable laws. Funds paid into these accounts are intended to be utilised by you as a pre-payment to purchase products from our stores. Massmart will only be required to process a refund back to you in respect of the Stokvel Account in the event that:
    

    12.1 The stokvel cancels the purchase before any goods are supplied;

    12.2 the product(s) that you purchased from the banner is returned to the specific banner as a result of it being defective and you have requested a refunded in respect of that product and not a store credit; and/or

    12.3 the pre-payment was made in respect of a product(s) which is no longer available in our stores; and

    12.4 stokvel failed to meet a required condition;

    12.5 as may be required by Law.

13. Where a refund is approved under these Terms, the Stokvel must provide all required documentation (which may include bank confirmation, identity documents and proof of residence) and must complete the prescribed Massmart refund request form.
14. Massmart will maintain transaction records and make statements available at reasonable intervals. The Stokvel must review statements and promptly report discrepancies.
15. Massmart will process personal information in accordance with the Protection of Personal Information Act, 2013 (POPIA) and its privacy notices. Members consent to such processing for onboarding, screening, account servicing, fraud prevention and related purposes.
16. The Stokvel and its members indemnify Massmart against all claims, losses, damages, costs and liabilities arising from fraudulent, unlawful, incorrect or unauthorised activity by the Stokvel or any person purporting to act on its behalf, and from inaccurate information supplied to Massmart.
17. Massmart may suspend or terminate the account if onboarding or ongoing compliance requirements are not met, if suspicious or fraudulent activity is suspected, if conflicting or unclear mandates are presented, or if operational or legal risks make continuation untenable. Upon termination, Massmart will issue a final statement and process any lawful refundable balance under clause.
18. Massmart may amend these Terms to reflect legal, regulatory or operational changes. The current Terms will be made available through official channels. Continued use of the account after notice constitutes acceptance of the amended Terms.
19. Queries regarding the account should be directed to the relevant store or Massmart customer support channels communicated from time to time.

1. Massmart is committed to ensuring that every customer is satisfied with their purchase. Our goal is to supply products that meet the applicable standards, fit for purpose, and align with the expectations of our Stokvel account holders and customers.
2. Where concerns arise in respect of any product purchased in any of our stores, our first and preferred remedy is always to assess the product and offer a suitable replacement, where possible. A refund will only be considered where a replacement is not feasible, or where the specific circumstances expressly allow for a refund in accordance with this policy, the Massmart returns and refunds policy, and all applicable laws.
3. This Stokvel account refund policy must be read in conjunction with the Massmart terms and conditions on our website, the specific terms and conditions applicable to the product or service purchased, and the Stokvel account terms.
4. A stokvel account is a pre-payment facility that allows a registered Stokvel account holder to deposit funds for the sole purpose of purchasing goods from Massmart stores. It is not a savings account, does not permit on demand withdrawals, and does not accrue interest. Refunds are not automatic and can only be processed under defined circumstances and at the sole discretion of Massmart.
5. Refunds may only be processed in the following circumstances:
   

   5.1 Account closure initiated by authorised Stokvel representatives: A refund may be processed where the Stokvel account’s duly authorised signatories jointly request closure of the account, supported by a signed Stokvel resolution and all required documentation.

   5.2 Defective goods returned and refund chosen.

   5.3 Where goods purchased using Stokvel funds are returned due to a defect, and the relevant Stokvel member and/or customer elects a refund rather than a replacement or store credit, in line with the Massmart Returns and Refunds Policy.

   5.4 Pre-paid goods are unavailable.

   5.5 Where a pre payment was made for a specific product that is no longer available.

   5.6 Refund is required by law.

6. A refund will be processed where mandated by applicable legislation or regulatory obligations.
7. Refunds will not be granted in the following circumstances:
   

   7.1 Withdrawals and Cash-Out Requests:

   7.1.1 Where the customer attempts to withdraw funds for personal use not linked to a valid refund trigger as envisaged in clause 5 above.

   7.1.2 Where the customer seeks to use the account as a savings or withdrawal facility.

   7.1.3 Where no qualifying refund conditions exist.

   7.2 Lack of Required Documentation:

   7.2.1 No valid ID provided.

   7.2.2 No proof of residence.

   7.2.3 No bank confirmation letter (for EFT refunds).

   7.2.4 No proof of payment or purchase.

   7.2.5 Refund Form incomplete or not submitted.

   7.2.6 Compliance documents required for FICA, AML, or sanctions screening not provided.

   7.3 Non-Returnable or Restricted Items

   7.3.1 Perishables, hazardous goods, baby food, open personal care items, airtime, gift cards, or clearance goods sold in their state “as is”.

   7.3.2 Products returned outside allowed timeframes.

   7.3.3 Products damaged due to customer misuse, negligence, or incorrect use.

   7.4 Misuse, Negligence or Fraud

   7.4.1 Product damage due to misuse or contrary use.

   7.4.2 Evidence of attempted policy abuse.

   7.4.3 Suspicious activity relating to money laundering or fraud.

   7.5 Stokvel account holder must provide the following documents:

   7.5.1 proof of purchase

   7.5.2 a refund request form

   7.5.3 identity documents

   7.5.4 Proof of residential address (not older than 3 months)

   7.5.5 bank confirmation for the deposits and

   7.5.6 the product in original packaging where required.

8. Refunds up to R5 000.00 (Five Thousand Rand), or any amount as Massmart may, in its sole discretion determine, may be issued in-store (cash or voucher).
9. Amounts above R5 000.00 will be processed via EFT. Refunds take 7–14 business days, or up to 21 days where supplier assessment is required.
10. Food products, clearance items, and bulk orders follow additional conditions relating to packaging, defects, and eligibility.
11. The process includes assessment, replacement as first remedy, conditional refund, screening, and finalisation.
12. Massmart may investigate suspicious activity, delay or decline refunds, or suspend/terminate accounts where compliance risks arise.
13. All returns and refunds are handled in accordance with the CPA, operational standards, and legal requirements.