Frequently Asked Questions
Splitzee is focused on “group money,” and we’ve learned a lot from helping thousands of groups and members collect, manage and spend their group money painlessly. Here are some of the most frequent questions, answers, and observations. If you’d like help from a member of our Concierge team, you can connect by email or through Live Chat.
What is Splitzee?
Splitzee is a website that allows people and their groups to pool money for just about any purpose – buying an item or service, collecting funds from friends and family, sharing a meal, and just about anything else. Splitzee makes it easy to collect money, manage, track who’s chipped in, remind those who haven’t, and then pay or reimburse them.
How does Splitzee work?
Anyone can visit Splitzee and create a personalized customized fund page for a gift, trip, party, team, league — or almost anything — for which they want to collect money.
Splitzee then helps you send out invitations to friends and family members inviting them to participate. And we’ll send reminders so you don’t have to. When the organizer is ready, they can cash out the contributed funds as a check, direct deposit, or payment to any person, company or organization. All you need to know is the recipient’s email address.
What can I use Splitzee for?
Anything you want (as long as it’s legal). Group gifts, sharing expenses, raising funds for important purposes – it’s all fair game. If you’d like some ideas, we’ve got plenty to share here on the site and we would enjoy helping you figure out just how to use Splitzee best for whatever you have in mind.
Some of the most common uses for Splitzee are: teacher gifts, coach gifts, classroom activities, team trips and expenses, wedding gifts, bachelor/ette parties, family reunions, family & group vacations, youth groups, scout activities, fundraisers, company outings, group lunches, dinners and drinks, and pretty much anything else you might do with a group.
How much does Splitzee cost to use?
Many of Splitzee’s features are free to use, and some have fees. On March 1, 2017, Splitzee launched a re-vamped OnDemand, our legacy service used by tens of thousands of people, and launched the all-new MoneyCloud, which provides great new functionality for those who need it.
As of April 1, 2017, both levels of service will be offered at a cost that passes along our credit card or PayPal processing fees plus 2.1% fee. Together, these fees come to 5%, which covers all the features of Splitzee OnDemand. Splitzee MoneyCloud also carries a monthly fee that covers your use of the additional features and a refillable Splitzee expense card.
Should I choose Splitzee OnDemand or Splitzee MoneyCloud?
Splitzee OnDemand: Although Splitzee users often surprise us with innovative uses of our service, our experience over more than four and a half years shows that people who plan to use Splitzee for a one-time event or a single purpose will be well-served by Splitzee OnDemand.
Splitzee MoneyCloud: People whose group or team will be together for 3-6 months, for a year, or for longer, are likely to want the additional features of Splitzee MoneyCloud. Here’s a link to our chart showing the features of Splitzee OnDemand and Splitzee MoneyCloud.
How is Splitzee different from Venmo, or PayPal or Tilt?
Splitzee is designed to help groups manage group money and communications, and we make it easy to announce, collect, remind, communicate, pay, and keep track of money while eliminating every hassle we can for you. Think “easy group money.”
We know just how well Splitzee compares to Venmo, PayPal, Tilt, GoFundMe, and a bunch more companies. If you know one you think serves groups better, tell us and ask for the “bounty” we have for any service we agree is better than Splitzee.
Organizing a Fund
Can I use Splitzee to create a secret gift fund for someone else?
Absolutely! You can notify users on your invites and collection that it is a surprise.
Who can create a Splitzee fund?
You must be over the age of 18 or creating your Splitzee fund under the supervision of a parent or guardian.
Do I have to purchase the gift or service I list on my fund?
No. You do not have to use the funds that you collect for the purpose stated on the fund you created. What you choose to do with your funds is between you and your contributors.
What happens if I collect more than the target amount of my fund?
Regardless of your Splitzee’s stated goal, we do not limit the amount of funds that you are allowed to collect. Any contributed funds are yours.
Can you show me how to get started?
Sure! Your first fund will probably take you about 10 minutes to create, customize and announce to your group. Here’s a short video called “How to start a Splitzee fund in 5 easy steps.“
How do I let my friends and family know about my collection?
Send out as many invitations to friends and family as you want! You can do this by using the e-mail invitation process or by sending them the direct link to your fund page. You can also post the link on social media and send it in a text.
How do I change the information on my collection?
You can change information on your fund at any time by logging into your account, clicking “MANAGE” on the fund that you want to edit, and then selecting any of the management options (e.g. “Fund Info,” “People,” “Messaging,” or “Fund Privacy Settings. Start by logging in to reach your dashboard.
What does it mean that Splitzee is encrypted with SSL (secure sockets layer)?
The Secure Sockets Layer (SSL) is a security protocol used by Web browsers and Web servicers to help users protect their data transfer. For more information, please see Comodo’s explanation of SSL encryption.
Contributing to a Splitzee Fund
Who can contribute to a Splitzee fund?
Contributions are accepted from holders of US-issued credit/debit cards and anyone with a PayPal account. (Other forms of payment are in the works!)
Do contributors need to create a Splitzee account?
What payment methods does Splitzee support?
Splitzee, through our third party payment processor, accepts all major U.S. issued credit cards (American Express, Visa, MasterCard and Discover), plus PayPal. We’re working on other payment methods. Please tell us what you think we should add next by contacting us.
Payments and Reimbursements from a Splitzee Fund
How does Splitzee pay money out?
Splitzee can deliver money by direct deposit, PayPal, check or to a refillable Splitzee expense card.
How do I get money out of my Splitzee?
To pay money out of the fund you created, you click the $ icon for “Payments” at the bottom of the left navigation. After clicking it, you can choose to pay yourself, anyone who has contributed to the fund, or you can “add a payee” just by entering their email address. A payee can be a person or any type of organization. When you click “send” to send money to someone else, Splitzee sends an email to the payee that says “Splitzee has money here for you. Please tell us how you would like to receive it.” You, or whoever you are paying, then chooses to receive the money as a direct deposit, check, or through PayPal.
Can people request a payment from the fund?
Yes! Anyone who is a participant on your fund, whether they were invited or contributed, can submit expenses and request a payment from the fund. On the main page for the fund, there is a button that says “Submit Expenses.” Splitzee asks for information about the request, asks for comments to the fund organizer, and provides the ability to upload an image of a receipt. After the expense is submitted, the fund organizer can then pay the expense with a few clicks.
How quickly will I receive my money?
Splitzee processes payment requests the same day or the next business day.
When you make a payment or cashout request by direct deposit transfer before 12pm ET, you should receive your funds within two to three business days after they are approved.
If you cash out by PayPal, you’ll see the money in your PayPal account immediately upon approval by Splitzee, and then you’ll request withdrawal through the PayPal system.
When you request a check, Splitzee will process your request within one business day and put it in the mail to you. Then it’s up to the US Postal Service.
*To avoid delays in receiving your funds if you select to receive money by direct deposit, please make sure that you provide the exact name that’s on the account and the correct routing number. Your bank will likely have one routing number for electronic transfers (ACH/direct deposit) and a different routing number for wire transfers. Please remember that we will send your funds to you via an ACH transfer, and NOT a wire transfer.
When can I pay out the money in my fund?
The funds contributed to your account are yours once they are deposited. Whether your goal is reached or not, you are allowed to withdraw your funds at any time. We process withdrawal requests after all contributions have cleared, which typically requires up to two business days.