AFRIKAANS ENGLISH

 

Frequently Asked Questions

 

• Are Group insurance and Funeral insurance compulsory?
  NO - but one unit is recommended. In case of death, the proceeds are credited to your Koopkrag account and any surplus paid to your estate.

• What is the bonus year?
  September (previous year) till August (current year). Your December account will be credited with the accumulated bonus.

• Do I earn bonus on petrol?
  NO - you pay a 1.83% handling fee but it remains more convenient and cheaper to use your KOOPKRAG card instead of cash.

• Is KOOPKRAG only in Pretoria?
  KOOPKRAG's suppliers are nationwide - please refer to our suppliers guide for a list of KOOPKRAG suppliers in your area.

• Is the Guarantee fund compulsory?
  YES - it is similar to a savings account that will be credited to your KOOPKRAG account in the event of cancellation of your KOOPKRAG account or your resignation as a member. Interest is payable on the balance of your Guarantee fund at rates as determined by Koopkrag Limited from time to time.

• Does the bonus percentage change?
  The bonus percentage is determined annually depending on the company's financial results.

• How do I determine my monthly purchase limit required?
  Your limit is determined by your monthly requirements subject to approval from KOOPKRAG.

• Can my purchase limit be increased?
  A request to have your purchase limit increased can be done telephonically.

• What happens when I exceed my monthly purchase limit?
  Your transaction can be declined and a administration fee will be charged. This can be prevented by requesting a temporary or a permanent purchase limit increase in advance.

• In the event of a claim at Santam short-term insurance who do I contact?
  Santam Claim Centre (Theft or an accident) at Tel: 0860 122 331.

• Who do I contact if I want to change my policy details at Santam?
  Santam Telecentre at Tel: 0860 102 722.