Did you know?
More than 70% of Americans are living paycheck to paycheck, thus hindering their ability to save on a monthly basis. To make matters worse, any unexpected expenses result in the need to take out loans with high interest rates or re-pay debt with incurred late fees. Nonetheless, some communities have figured out a way to save on a consistent basis & gain access to interest free capital faster. They do this through a system of saving with a group of people, otherwise known as a susu.
A susu is a traditional saving method, originating from West Africa and the Caribbean, in which members of the same community pool their finances on a scheduled basis. Through a susu, people who save collectively, find that it helps them stay on track and instill discipline to make scheduled payments. This scheme is practiced worldwide and has proven to help individuals in countries such as South Korea, Mexico, Japan, Indonesia, UK, and Brazil, all of whom have their own versions of susu.
While it is true that the traditional susu is highly effective, it is not accessible to everyone who wants to save. Problems often arise with finding an individual to manage the group to ensure that each member pays back the community on their scheduled payment.
Thanks to the brilliant minds behind Fastsusu, there is now a way for you to participate in your very own susu using a mobile device. With just a few taps, saving money with friends and family has never been this easy.
What is Fastsusu?
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 and digitizes the traditional form of a rotating savings club, known as a susu.
The app’s mission is to help customers commit to a savings plan, use their funds to make meaningful purchases, and connect with a community of like-minded people. Fastsusu’s values are rooted in providing a secure, safe, and trustworthy platform for its customers.
How Does Fastsusu Work?
Let’s take a user who wants to save $1000. They can create a group in Fastsusu and send invitations to 10 friends. Once everyone accepts the invitation, the $1000 will then be divided by 10. So, each person agrees to contribute $100 per month. The first person on the list will take the whole amount. Another person will take $1000 next month. The same process will happen until everyone in the group gets $1000.
Who is Fastsusu for?
Fastsusu is for individuals looking to save a sizable amount of funds to make important purchases. Fastsusu can help with saving to buy a vacation package, repay student debt, lease an apartment or put a down payment on a vehicle.
Benefits of Using Fastsusu
Here are some benefits of saving money through Fastsusu:
- Fastsusu allows you to access funds for unexpected or large expenses.
Let’s be real, accidents and illnesses are inevitable. By using Fastsusu, you can choose to join or create a savings group that grants you access to a lump sum of cash faster, plus you can always rely on that amount being available to you.
- Fastsusu helps you become a disciplined saver.
With Fastsusu, you will be encouraged to save money regularly. Being financially disciplined can be hard, however, saving in a group can keep you accountable for on-time payments.
- Fastsusu allows you to save time and start planning for the future.
Let’s face it, going to banks with limited operating hours can be time-consuming, especially for busy people. Skip the lines and deposit your funds directly into a linked bank account. Use those funds for retirement planning, your child’s expenses, world travel and more.
- User Verification
Fastsusu ensures that all users are verified before they can join your savings group. With this feature, you can feel at ease about saving money with people you can trust.
- Easy Tracking
Fastsusu has a user-friendly dashboard that lets you see important details such as how much money you’ve saved and your past and upcoming transactions.
- Notifications & Reminders
With Fastsusu, we’ll keep you notified of all transactions. You can trigger the app update you through notifications and reminders, letting you stay on top of your payment dates.
- No Hidden Fees
Unlike many apps out there, Fastsusu won’t charge you any hidden fees. The only fee you pay is a 1% fee of each transaction made on due dates.
How to Join and Start Saving.
Follow these steps to start using Fastsusu:
1. Register and activate an account.
Create an account using our secure and encrypted registration form. Personal information will be verified to ensure that our members save with trustworthy individuals. To make and receive payments, a valid U.S bank account will be required upon registry.
2. 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.
3. Withdraw and transfer funds.
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.