Rotating savings groups work. They have worked for generations, and they work because the people in them know each other. Nothing about the app changes that part.
What it changes is where the money sits between the day everyone contributes and the day somebody collects.
What goes wrong with cash
- One member holds the pot, which makes them a target and puts a friendship on the line.
- A member travels and their turn is missed, and there is no record of who is owed what.
- Somebody pays in cash and there is a disagreement about whether they paid.
NOMBCEANTBFS
How it works here
One member creates the group and sets the amount, the frequency and the order of turns.
Everyone joins with their phone number and confirms the order before the first cycle starts.
Contributions are debited automatically on the agreed day. Everyone can see who has paid.
On collection day the full amount lands in that member’s account. No cash changes hands.