MyDollar - New way of Sharing

MyDollar is a rotating savings and credit association (ROSCA) platform.

In MyDollar app, users can pool their money into a common fund, generally structured around weekly or fortnightly contributions, and a group creator can withdraws the money from it as a lump sum at the starting of the group followed by second user joining the group. This continues for as long as the group exists.

How MyDollar app Work?
One user can create for the amount of $600 with the group name ‘e.g Group1’ and 5 other users can join the group and each of them will contribute $100 to the fund weekly or fortnightly. At the start of the group, the group creator would take a sum of $600. In the second weekly or fortnightly period, another member would take the next $600. This would continue until everyone had a turn with the proceeds.

MyDollar include features like:
1.Individual account - so each user has their own secure login.
2.Linking to bank accounts - so deposits and payouts can be managed in the app.

Advantages:
If one user fails to pay the amount MyDollar will balance the transaction.

Max Users in a Group: 6

Amount: $100 per each user (fixed)