Qoins 2.0

Pay off debt with spare change

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Thanks @erictwillis for hunting us! Qoins was originally on Product Hunt last year as a web-only app. Since then, we've launched iOS and Android apps, improved the service quite a bit, and now we support thousands more banks and credit cards. The basic idea is that we round up each one of your checking/credit purchases to the next dollar, and at the end of each month, we'll automatically send out a payment towards whatever debt that you have. (Credit card, loan, etc.) Think like Acorns or Qapital, but for debt. Our only fee is that we deduct $1.99 from monthly payments that we send out on your behalf. (So if you round up $70 in one month, we'll send out a payment for $68.01.) We've found that debt is a much bigger issue than saving, as most of the time you're earning less than 1% interest on savings accounts but paying higher interest rates on your debt. Questions? Comments? Fire away! My cofounder and I will be here all day to answer them! P.S. If you sign up through this link, you'll get an additional $3.00 added to your first payment: https://qoins.io/?ref=producthunt
@erictwillis @nwashjr2 As an acorns user, I wanted to switch to Qoins, but was turned off by the fact that Qoins charges twice as much per month. If they charged equal, I'd switch.
@swetzequity So we actually only charge more than Acorns because of the cost associated with sending out payments on your behalf. Also, in terms of monthly returns/impact on your finances, I can guarantee that we bring a higher average monthly return on your money than Acorns does from rounding up your purchases. We haven't had anyone say that the cost was too much once they've started using the service and could see the impact it was having on their finances. 😁
@erictwillis @nwashjr2 @swetzequity You could always switch to Qapital, which can help you do the same thing without payment. I actually moved from Acorns to Qapital. You get more saving rule choices as well.
The idea and execution looks solid. Looks like a neat interface with the app. Best of luck.
Congrats on launching on iOS and Android!
Available in the UK?
@angus_halen Not quite yet! We'd love to expand there, but we don't quite have a timeline on that yet. 😒