Frequently Asked Questions

Frequently Asked Questions2020-05-03T14:54:51+02:00
How secure are my personal details?2020-05-03T14:52:27+02:00

All your personal details are encrypted and securly stored.
Access to your personal details is logged and strictly controlled.

How secure is my account?2020-05-03T14:51:43+02:00

Your account’s security is our priority!
Your account password for instance, is only known by you – since we store it in a hashed form, there is no way that even we could tell you what it is!
Password Strength – we enforce strong passwords when you register.
Two factor Authentication – we support two-form authentication as another level of security, where we call and verify with you to doubly verify change activity.
Encryption – All our web service communication is encrypted using SSL (https)

Do I have to pay another registration fee if I empty my Vault?2020-05-03T14:48:58+02:00

No, the registration fee is a once off fee that covers you for a lifetime – even if you empty your vault, and decide to buy bits at a later date – your account will still be available when you return at no additional fee.

Can I collect the gold (when less than a Zahab medallion)?2020-05-03T14:48:04+02:00

No, by law we are allowed to sell you Zahab medallions, as that is our offering to you. If you opt to cashout before you accumulate a 25.5g Zahab Medallion – you will receive the equivalent monetary value paid into your bank account

Is there a limit to how many times I can cashout?2020-05-03T14:46:33+02:00

You are allowed 4 cashout’s a month, thereafter you will be charged a service fee of 2% on the transaction total for each additional money cashout when the monthly allowance is exceeded.

Do I have to cashout all Zahab medallions at once?2020-05-03T14:45:18+02:00

No, you can choose to cashout as many medallions as you wish. The remaining medallions will be kept safe by us.

How do I receive my Zahab medallion(s)?2020-05-03T14:44:08+02:00

You can either collect your medallion(s) from our showroom in Durban or it can be securely couriered to you.

If I cash-out – do I have to take the Zahab medallions2020-05-03T14:42:40+02:00

The choice is yours… you can decide to be paid out the value of the medallions, or you can take delivery of the medallions.

Do you pay out in cash?2020-05-03T14:41:09+02:00

No, for security and governance reasons, we pay directly into your South African bank account.

How long does it take to get my money?2020-05-03T14:40:25+02:00

It takes between 3 – 5 working days, AFTER you have validated the cashout.

How much can I withdraw at a time?2020-05-03T14:39:43+02:00

It’s up to you – you can cashout as little as 1 Zahab bit or as much as your entire vault.

How do I sign up for the Debit Order option?2020-05-03T14:38:30+02:00

Simply log into your account. Select the my details option – and select the Debit Order option.

How does the debit order process work?2020-05-03T14:37:49+02:00

Simply complete the debit order mandate form, where you can specify how many bits you want to automatically purchase monthly – as well as you get to specify money limit of the debit order (since the Zahab bits price fluctuates) – we will not exceed that value. So, no end of the month surprises!
Then on the monthly debit run, your specified bank account will be debited – and your Zahab bits Vault credited with the number of Zahab bits purchased.

What forms of payment do you accept?2020-05-03T14:36:24+02:00

We accept all major credit and debit cards, such as – VISA and Mastercard – As well as SiD (Secure EFT) and Masterpass. There is also a debit order option.

Is there a limit to how much I can store in my vault?2020-05-03T14:33:54+02:00

No, you can buy as many Zahab bits & Zahab medallions as you wish.

Can I buy more than 1 Zahab medallion at a time?2020-05-03T14:32:59+02:00

Yes, simply contact us – and we will assist with the transaction.

Who can register?2020-05-03T14:29:41+02:00

Currently we cater for anyone with a valid South African ID number and South African bank account (with any operating bank within South Africa)

Why is there a fee to register?2020-05-03T14:28:58+02:00

There is a once off fee that goes towards the added security by verifying each registration as each registrant must have a valid South African Identity and a valid proof of residence.
This is a once off cost – there are no subscription costs.

Why do I need to register?2020-05-03T14:25:01+02:00

By registering, a secure account is created allowing you to purchase Zahab bits.
Legally we also need to know who you are, and verify your details.

Are there monthly costs?2020-05-03T14:22:07+02:00

No, you buy as and when you want to. The only possible re-occuring cost is if you have signed up for the debit order option to buy Zahab bits automatically on a monthly basis.

How many Zahab bits do I need before I can get a 25.5g Zahab Medallion?2020-05-03T14:20:58+02:00

100 bits

Why does the Zahab bit value keep changing?2020-05-03T14:20:07+02:00

The price of a Zahab bit is directly linked to the Gold Price. The Gold price is updated daily, therefore will change the price of a zahab bit daily.

Can I buy Zahab bits at anytime of the day or night?2020-05-03T14:19:09+02:00

Absolutely! Zahab bits is a 24 / 7 service!

Is Zahab bits registered with the relevant regulators?2020-05-03T14:18:19+02:00

Zahab bits is a product of Randeree Jewellers and is registered with the relevant regulatory entities :-

  • We are a registered Tax paying company with the South African Revenue Service (SARS) and comply with all their regulatory requirements.
  • We are registered with CIPC (Companies and Intellectual Property Commission) and comply with all their regulatory requirements.
Is Zahab bits regularly audited?2020-05-03T14:15:41+02:00

Zahab bits are audited once a month by an independent auditing company.
The audit covers (and not limited to) the following :-

– Verify the stock levels of gold agree with the accounting records of Zahab bits sold.
– Verify the accounting records agree with the relevant source documents, ensuring that the accounting records are accurate and that all transactions have been accounted for.
– Verify that internal control measurements have been set in place, ensuring that assessed risks are minimalised to an acceptable level.
– Verify that all the membership / registration with all relevant authorities in good standing.

Contact Info

151 Stephen Dlamini Road

Phone: +27 31 202 4701

Web: RjCOIN by Randeree Jewellers

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