Saving Just Got Easier.
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Saving can be hard,
so why do it alone?
Rotational savings for the Digital Age.
We connect communities of people who save together, because pooling short-term monthly payments can help you save capital faster.
How to with Fastsusu
Register & Activate
Create an account using our secure and encrypted registration form. Sign-up information will need to be verified in order to make and receive payments. A valid U.S bank account will be required upon registry.
Start a savings plan
Saving with others can help you reach your savings goals faster. Find a group online or save with a group of friends. Commit to rotating funds on a weekly, bi-weekly or monthly basis. Our system tracks and notifies you of upcoming payments.
Withdraw & Transfer
When it's your turn to receive funds, easily deposit the collection into your linked bank account. Transactions are fast & instant, as we've partnered with trusted and reliable payment providers.
Here's how group savings work
Each member of a group is assigned a scheduled payout date, in which they collect a lump sum of the groups contribution.
In the example, a group of 5 members with a goal to save $400 per month, will each contribute $100 dollars per payment period.
The scheduled recipient for the payout collects the combined group contribution of $400. This process continues and completes when all members have a turn to collect on their assigned pay date.
Transform the way you save.
Fastsusu is a mobile application designed to help individuals achieve their financial savings goals and build credit. Users connect through community based money pools and rotate their funds to save capital faster. The platform simulates the traditional form of a rotational savings club.
Rotational savings clubs are also known as tandas (Latin America), cundinas (Mexico), susu (West Africa and the Caribbean), partnerhand (Carribean/UK), hui (Asia), Game'ya (Middle East), kye (South Korea), tanomosiko (Japan), pandeiros (Brazil) and arisan (Indonesia).
In order to save with Fastsusu, you must be over the age of 18 with a valid U.S. bank account.
Fastsusu is free to join! However, we require a payment of 2% for every transaction deposited into the users linked bank account.
Please complete the registration form here. You will be notified of our expected app release date. Once the application is available on the IOS and Google Play store, you will receive a link for mobile download.
Fastsusu digitizes the process of a traditional group savings method called a susu. In a susu, a group of people set the amount of cash they each wish to save for the month. This goal amount could range between $1,000-$10,000.
In order to attain this goal, each member agrees to pool their contributions in a pot for one person to collect. Payments are split between the number of people in the group and this process continues every month until each member has a chance to collect the lump sum.
This process makes it easier for each person to save a larger amount of capital by making small payments over time, with the help of others. The idea of micro loans or short term savings loans can alleviate the burden of outside loans with high APR rates.
We've partnered with trusted banking API providers who cross - check our users bank accounts for credibility. This is to mitigate the percentage of failed payments.
In the event a member fails to make a payment in a public group, the owed amount will transfer to our partnered lender. The user will then be responsible to pay the due balance.
In addition, members who owe capital are subject to a ban from participating in future groups, and risk the report of such failed payment to credit bureaus.