Payments & Contributions

When it comes to splitting the cost of an item, we offer you the flexibility to select your preferred method of contribution. You can choose to do this either within our platform or outside it, but for the sake of security, we highly recommend using our platform for payments and contributions. When you create a split group, please keep in mind that you have two options to consider when setting the means of payment and contributions. Once you've made your preference, it cannot be changed for that group, so please be extra cautious and considerate when making your choice.

  1. Open Contribution

    This option allows members to make contributions outside the platform, which can be convenient for situations where splitters are well-acquainted or prefer not to use the platform for contributions. If you join a group with Open Contribution, you won't need to make any initial contributions, unlike groups with the group wallet option. However, please note that this option is not our recommended choice, as you assume sole responsibility for your contributions, and we cannot mediate in case of disputes. It's a good practice to exercise caution and avoid sending money directly to strangers for any reason.

  2. Group Wallet

    The group wallet acts as an escrow, where funds are held collectively for group members and disbursed only with approval from every group member. This feature is highly recommended when creating or joining split groups. If the group wallet is set as the default option when joining a group, you will need to make an initial contribution. Similarly, when creating a group with the group wallet set, you must make an initial contribution before the group becomes active. Contributions made through the group wallet are secure, as every group member maintains control of their funds. If you choose to leave a group, all your available contributions will be automatically refunded to you.

Security of the Group Wallet

Transactions in the group wallet are secured with AES 256 CBC Encryption Algorithm, and transaction history is accessible only to group members. Disbursement of funds requires approval from every group member, and each member must set up a 6-digit access code and security questions to protect access to their funds.

Topping up the Group Wallet

Topping up your group wallet is simple. Start by adding funds to your in-app wallet, and then click the pop-up button in your split group to add those funds to the group wallet.

Initiating a Group Fund Transfer

Any member of the group can initiate a fund transfer request, which is then sent to every member of the group for approval. Upon unanimous approval, the funds are disbursed. If any member declines the fund transfer, the request is automatically canceled.

Refunding Process

Any member can choose to exit a group at any time. When you exit, the total funds you've contributed to the group are automatically refunded, minus any group spending (funds disbursed from the group wallet). If a member is removed from a group by the group admin, any contributions they made are also refunded automatically.

We hope this information makes your experience more enjoyable and secure. If you have any questions, please don't hesitate to reach out on hello@splitam.co