Mokhatlo Savings Account

Important Customer Information
  • Only standard M-Pesa customers are eligible for Mokhatlo Savings Account. Unregistered & entry level customers invited to join a group will be informed to upgrade their M-Pesa account
  • The maximum number of accounts a customer can join is 10
  • Only added members will be able to transfer funds to Mokhatlo Savings Account
  • Each Mokhatlo Savings Account will have its unique code
  • For groups with less than 5 members, each Mokhatlo Savings account will need at least 1 group leader, 1 group Approver & 1 regular member
  • For groups with 5 or more members, each Mokhatlo Savings account will need at least 2 group leaders, 2 group Approvers & 1 regular member
  • All Group Members will be notified in case of transactions via sms
It is a saving account for groups of people saving towards a common goal, where multiple M-Pesa registered customers can have access, in a controlled manner, to a shared account that allows for:
  • Gathering/saving of funds together
  • Use of funds to buy/pay for good/bills to the benefit of the entire group
It is a saving account for groups of people saving towards a common goal, where multiple M-Pesa registered customers can have access, in a controlled manner, to a shared account that allows for:
  • Gathering/saving of funds together
  • Use of funds to buy/pay for good/bills to the benefit of the entire group
  • Easy to Open
    • All groups can open an account by filling a simple form
    • Only one authorised person is needed to initiate the application
  • Increased security & transparency
  • Visibility: All members can view account transactions
    • Deposits
    • Withdrawal
    • Balances
    • Statements
  • Control: multiple group members will be needed for any approval process
  • No cash withdrawals without the approval of the assigned approvers
  • Safe storage of funds
  • Increased convenience
    • Real time transactions
    • No transaction limits
    • Unlimited number of group members can join account
  • No fees with the Mokhatlo Savings account