Qoins

Pay off debt with spare change

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Reviews

Discussion

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Nate WashingtonMakerHiring@nwashjr2 · Co-founder, Qoins
Hey everyone excited to be on Product Hunt today! Thanks to @erictwillis for hunting us! I'm Nate, one of the cofounders of Qoins. One issue that's always at the back of my mind is the amount of debt that I have to pay back. Between student loans, a car loan and credit cards, it sometimes feels like I'll never get everything paid off. We built Qoins to tackle this problem. Think of us like Acorns or Digit, but for paying off debt. We round up spare change from your everyday transactions and apply them directly towards paying off your debt. For example, buying a $5.35 sandwich will send $0.65 towards paying off student loans, credit cards, and more! By using Qoins and having additional payments go out every month, you can become debt-free months or years early! We support Instant Verfication for the top US banks, and we'll have access to thousands more banks within the next month or two. Please feel free to ask any questions!
Vinnie Termini@vinnie_termini
I have always been on the fence about "round-up-to-savings" apps, but I love this approach. The following, taken from Qoins Terms of Service, could/should be outlined on the main page or where otherwise appropriate: Qoins may charge fees in conjunction with the use of the Service. These fees will be deducted from the user's Qoins balance, amd not charged to the user's bank account. Fees include: $1.00 per month, for use of the service. This fee will only be deducted during months in which the user sends at least one transfer. $5.00 for each failed ACH transfer from the user's bank account to Qoins. If the user has multiple or frequent failed ACH payments, we reserve the right to terminate their use of the Service.
Nate WashingtonMakerHiring@nwashjr2 · Co-founder, Qoins
@vinnie_termini Thanks for the kind words and the feedback! We'll work on making that a little more transparent.
Zack Hickman@hickmanzackary · Just some guy
@vinnie_termini Yes I definitely agree. I went through signing up and setting everything up without that being made apparent to me. I'm sure it was somewhere but I shouldn't have to search for something like that. It can be perceived as poor taste/taking advantage.
Elizabeth S Hunker@elizabethhunker · EIR @ vLAB
There are so many round-up apps now... and they're all pretty fantastic - Nice one, @QoinsInc @nwashjr2 @erictwillis
Nate WashingtonMakerHiring@nwashjr2 · Co-founder, Qoins
@elizabethhunker Thank you!
Andrew Mutavdzija@andym_dc · JD
@elizabethhunker Besides Acorns, what else is out there?
Stephen@stephenalan · PM | USPTO
Wow. I'm disappointed that this isn't getting more upvotes/traction. I think this is a strong NEED (and I don't use that word lightly) in under-served communities. Kudos @nwashjr2
Nate WashingtonMakerHiring@nwashjr2 · Co-founder, Qoins
@stephenalan Thank you! We've definitely had a positive response so far!
Charley Ma@charleyma · Fintech @ Plaid
Congrats on the launch guys! Great twist on the round-up concept :)
Nate WashingtonMakerHiring@nwashjr2 · Co-founder, Qoins
@charleyma Big thanks to you guys over at Plaid!