How it works
A simple, plain-English explanation of how savings, payouts, and the platform fee work together.
1. The magic money hook
Instead of remembering to put money in, we link your bank account to the group once. When it is your turn, the system automatically pulls the right amount from your bank — like a magnet for your savings.
2. The pot of money
Your money travels from your bank into a safe digital bucket. Each cycle, everyone pays in on the group's contribution day — including the person whose turn it is to receive the pot. The system waits a few business days for the bank transfer to clear, then sends the whole pot to the person whose turn it is — automatically, on a system-calculated date. No one has to vote on when payouts happen.
3. The helpers get a tiny slice
Alájọọzzy takes a very small platform fee to keep the lights on — it covers the cost of running the platform and securely settling your money through Stripe's payment infrastructure. The platform fee is collected once from your first payment only and is non-refundable. Every cycle after is just your flat contribution. Group creators receive a 50% discount on their platform fee as a thank-you for organising the group.
In short
- You: put money in automatically on the group's contribution day — every cycle, even when it is your turn to receive the payout.
- The group: collects the money in a safe vault.
- The payout: the system sends the big pile to the person whose turn it is, a few business days after everyone's money has cleared — no voting needed.
- The platform fee: a one-time non-refundable slice from your first payment to keep the platform running and settle your money securely through Stripe. Group creators get 50% off.
Important: Alájọọzzy does not cover, insure, or reimburse losses if a member defaults. If a default occurs, recovering the unpaid amount is strictly the responsibility of the group members — resolved within and between yourselves. The platform cannot intervene or recover funds on your behalf.