• What happens when someone doesn't pay?

    •  When someone doesn't pay they have one week to submit savings payment. If insurance is bought by the team, the partner continues with the partner paying any missing hand. If user does not square up after a month (with 10% late fee) she will no longer be a part of the partner and collections methods will be employed.

    •  If insurance is not bought, the partner pauses for 1 month after a week delinquency. A hold is then placed on the deliquent user's account for the entire savings amount. After month collections process is employed. Delinquent party is banned from app. Once money has been received partner members are paid back their initial savings amount.

  • What about privacy?

    • Your privacy is extremely important to us. Your personal information will not be seen by anyone else in the app or even our advertising partners. Only friends you allow will be able to see your savings rating. Only savings partners will be able to see the amount in the pool and the goal of the partner.

  • What is a “Partner”?

    • A Partner is a savings goal. You can start a “Partner” with a friend or by yourself. Just want to get those stilettos or dress before the sale ends? Need to save up for your honeymoon, or holiday trip? The partner provides a great way to save by yourself or with friends in a quick and consistent fashion. Saving with friends, allows you to get the money even faster without having to borrow from the bank or use a credit card with hefty interest rates. Our business model is not centered around fees as this would be contrary to our purpose which is making sure you save as much money as possible.

  • How do I receive my Savings?

    • We are working on being able to send savings directly to your own Tomo Cash Card. You can then spend the cash how you see fit once you receive the text and/or email alerting you that the money has been deposited.

  • Can I leave my savings with you?

    • Yes, but only when transferring to another partner immediately after the end of your current partner. 

  • What is insurance?

    •  Insurance is an additional amount paid by the group to ensure the partner continues even if someone is delinquent with a payment. The individual insurance amount is equal to one hand divided by the amount of partner participants. (i.e. if one hand is $100.00 and there are 5 participants, individual insurance would be $20.00).

    • Insurance is set in place by the partner creator along with the partner goal and time frame.

  • Can I enter a partner with my credit card?

    •  No, you can only enter a partner with a valid bank account. We are still working out the details on PayPal, and Google Wallet.