14/06/2022
Introducing Red Envelope, Klicknown's Exclusive Savings Club. We call it the laybye with benefits. By the way, only Klicknown can become your friend with benefits sahwira 😊. Wooow, isn't that cool?
ABOUT RED ENVELOPE
Red Envelope is Klicknown's exclusive 'member only' Savings Club that helps its members to reach their financial goals. Whether you want to start a business, buy a stand, a house, a car, or even marry, Red Envelope helps you make it possible. At Red Envelope, we believe that money is not a problem, but lack of planning, discipline, accountability, and thenecessary motivation are. We strongly believe that, with the right planning, discipline, accountability and motivation, financial independence can be achieved. We help you to not just dream it, but to live it.
HOW IT WORKS
Registration process
Complete and submit a fully signed membership registration form.
Pay a membership/ joining fee of US$15.00, renewable annually.
Pay monthly savings package subscriptions.
We have 4 savings packages: Bronze, Silver, Gold and Platinum. Each of these packages have a monthly subscription i.e. US$25, US$50, US$100 and US$200, respectively.
Pay the monthly subscription for your selected savings package. Monthly subscriptions are made for 12 months until the end of the current financial year.
Our financial year
Each financial year runs from 1 June of the current year to 31 May of the subsequent year e.g. 1 June 2022 to 31 May 2023.
Currency of transactions*
All transactions are made in United States Dollars.
Administration
Membership fees and penalties will go towards the administration of the club.
All savings subscriptions are put into the club's account and members are entitled to get their savings back, plus about ±5% interest per month, at the end of the financial year.
Payment methods
The manager will invoice and receipt all payments.
All payments are to be made in cash or via remittance service providers such as Access Forex, Mukuru or City Hopper.
Members are to submit their proof of payments, via email, to '[email protected]', clearly stating their full name, ID number, and purpose of payment i.e. membership fee, penalty, or the package.
Referral bonus
A member can refer new members to join the Club and earn a US$1 for each member that joins.
The referral bonus will be added to their savings and payable at the end of the financial year.
The more new members a member refers, the more they earn referral bonus.
Rights and responsibilities of the members
All members shall pay a US$15 annual membership fee at the beginning of each financial year.
All payments shall be made by the 25th day of each month. Any payment made after this date will attract a US$10 late payment fine.
Upon joining i.e. after paying the membership fee, members are entitled to receiving an exclusive Red Envelope branded t-shirt, and or any other material(s) as determined by the manager.
At the end of the financial year, members are entitled to get all their savings back, plus a total 85% of all the generated interest, shared on a pro-rata basis amongst the members.
The monthly savings made by members shall remain the sole property of the members.
Any withdrawal done before the end of the financial year will attract a 2% early withdrawal penalty fee, of all savings made to the date of when the withdrawal is made. If a member so chooses to withdraw their savings before the end of the financial year, they also forfeit any interest that was to be earned by them. Members, the manager, and other entities can borrow money from the club, repayable with a monthly interest. First priority is given to members.
Members get exclusive access to Red Envelope's 'member only' events, products and services.
A member can refer new members to join the Club and earn a US$1 for each member that joins. The referral bonus will be added to their savings and payable at the end of the financial year. The more new members a member refers, the more they earn referral bonus.
Rights and responsibilities of Klicknown, hereinafter referred to as the manager
The manager is responsible for managing and admnistering the affairs of the club. This entails registration of members, administering the savings account, and lending out of money in the savings account to eligible members and other entities to generate interest for the members, amongst other things.
The manager is entitled to 15% of all the interest generated by the Club as its management fee.
The manager is responsible for organizing events, products and services, for the benefit of the members.
The manager is responsible for making any necessary by-laws and policies, and or changes thereto, including the terms and conditions outlined herein, for the club, and reviewing fees and subscriptions payable by the members.
These terms and conditions are binding to all members. Do not miss out on the opportunity to become a member. Join today!
Do check out our catalogue here. The web and mobile app catalogue will he out soon too.
https://wa.me/c/263773993726