Qoins

Pay off debt with spare change

2 followers

Pay off debt with spare change

2 followers

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Launch tags:Web App•Productivity•Fintech

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ArtSquare

There are so many round-up apps now... and they're all pretty fantastic - Nice one, @QoinsInc @nwashjr2 @erictwillis

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10yr ago

Qoins 2.0

Maker

@elizabethhunker Thank you!

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10yr ago

@elizabethhunker Besides Acorns, what else is out there?

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10yr ago

Bullish

@andym_dc @elizabethhunker https://digit.co/

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10yr ago

This is a great idea! Can you clarify whether or not direct payments are made from Qoin to a credit card account, for example? I know in many round-up apps users have to transfer money back out to checking accounts in order to pay off debt

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10yr ago

Qoins 2.0

Maker

@lena_merih_madenci Yes! Qoins makes payments directly to your lender for you. Once you link your information, you don't have to lift a finger if you don't want to!

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10yr ago

@nwashjr2 That's amazing! I can't wait to use this and tell all my friends :)

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10yr ago

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.

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10yr ago

Qoins 2.0

Maker

@vinnie_termini Thanks for the kind words and the feedback! We'll work on making that a little more transparent.

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10yr ago

@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.

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10yr ago

Hey! Great idea. But isn't this super similar to Digit? I used them for awhile but they would constantly barrel my account unexpectedly.

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10yr ago

Qoins 2.0

Maker

@louismagnotti Hey there! There are definitely some similarities between Qoins and Digit. Unlike us, Digit takes money from your account based on what they've determined is the best amount that you can save. I believe they also don't tell you the amount until afterwards. With Qoins, you have two options: 1. Let Qoins automatically round up your everyday transactions. 2. Turn off automatic round ups and set a specified amount to contribute each week. Either way, you can have complete control over how you decide to get out of debt early!

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10yr ago

No support for Ally yet? 😟 Was looking forward to using this. Is there a way to be notified when round-up support is added for my bank?

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10yr ago

Qoins 2.0

Maker

Hey there, @matthewportner! We'll be adding thousands of new banks within the next month or two. (Ally should be one of them.) We'll most likely have access to them all at once, and we'll send out an email when that happens. So, if you've already created an account, you'll be notified when we add them!

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10yr ago

@nwashjr2 great, thanks!

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10yr ago

It seems like there's an allowance to round-up for some banks and not for others. I, for instance, bank with Charles Schwab, which is allowed for recurring ACH but not for round-ups. That doesn't make too much sense to me. Is there a reason for that?

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10yr ago

Qoins 2.0

Maker

Hey, @hankandre! We're still in our open beta phase, and we only support certain top U.S. institutions for round ups. We'll be adding round ups for 15,000+ additional institutions in the next month or two. (Charles Schwab will be included.) If you've signed up for an account, you'll get an email when it's available!

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10yr ago

@nwashjr2 That's great. I guess I just assumed that the funding accounts could also be used for round-ups. This is definitely a service my wife and I will benefit from, so count me in!

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10yr ago

sounds interesting. the only question I have is how guys you store the money accumulated from the spare charge?

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9yr ago

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