Welcome to our Help Center

General Questions

How do I make payments and receive my payout?

With your checking account. Funds are automatically debited from, and credited to, your bank account based on your groups unique payment schedule. As a convenience, we send payment reminders, via email or text message, the day before each payment is due.

In order to keep our service fees as low as possible, we do not accept credit or debit cards.


What if someone abandons the group and stops making payments?

If anyone in the group suddenly stops making payments, eMoneyPool will take over their payments to protect you and the group. Guaranteed! Learn more about our Payment Protection by reading our Late or Default Payments section below.


I have not seen my deposit or payment post to my bank account. What is the delay?

Transfer times normally take 1 - 2 business days. For example, if you are set to receive your funds on Monday you can expect to receive them on Tuesday. However, if you are set to receive your funds on Friday, you will not receive them until the following Monday since banks are closed on weekends and national holidays. The same delay applies to your payments to the group.

Why is there a delay? The funds are sent the same day using the Automated Clearing House (ACH) network, however transfer times vary by the receiving bank. Although a slight delay, the ACH system is inexpensive which allows us to keep our service fees as low as possible for our community of money poolers.


Why are some positions locked?

Access to some positions is determined by your trust rating. Those who make payments on time consistently have shown good payment behavior and are more trusted in the eMoneyPool community. However, having a good payment history is not the only necessity needed to access an early spot. The system will also look at your available money pool limit. For example, if your limit is currently $1,000 and you’re already in a $1,000 money pool, any additional pools will exceed your limit and prevent you from joining an early spot - regardless of your trust rating.

In short, we suggest you build your trust rating by making all your payments on time while also staying under your money pool limit to access locked positions.


How are the positions in the group decided?

Everyone chooses their “turn” in the groups rotation based on their individual needs. For example, one person might be going on vacation in June and will choose a turn that corresponds with that specific date, while another group member might need a turn next month to purchase inventory for their business. Since we normally have different needs at different times, it’s easy for everyone to find a turn in the group they find beneficial.


What if there are not enough people by the start date of the money pool?

The moderator will need to push back the start date to allow time for more people to join. No one will make their first payment until the pool is filled and has officially started.


I have an emergency. Can I be removed from the group before my money pool is complete?

Unfortunately, we are unable to accommodate this request. When you commit to your money pool, you commit to your group.

eMoneyPool will only step in to protect the group if someone in your group defaults and stops making payments. A default will have a very heavy impact on a users trust rating and potentially prevent them from using our service in the future. Read more below in our Late or Default Payments section.


Is this legal, it sounds like a Pyramid scheme?

Yes it's legal. A Pyramid scheme by its nature can never satisfy all the members involved. A money pool, on the other hand, will not be completed until every member receives their payout. We guarantee it, as long as you stick to your payment schedule.


Identity & Bank Account

How do I verify my identity?

Simply click on the link labeled ' Verify Identity' under your 'Profile Checklist'. The system will walk you through a 60 second process of answering a few questions, where only you will know the answers, to verify your identity.

If your identity verification failed, the system will not allow you to reattempt the verification and you are asked to email a goverment issued id to verify@emoneypool.com. We will try and verify your identity on our end and will contact you if we have questions.


How do you verify my bank account?

Here is how it works:

- We make one small deposit of less than $1.00 into your bank account.

- Check your bank account in 2-3 days for a deposit from eMoneyPool.

- Login to eMoneyPool and enter the deposit amount on your private settings page.

Also, make sure the name you provide during registration matches the name on the checking account. Once this verification process is complete, your bank account will be considered verified.


I have not received my test deposit. What do I do?

If you have not received your test deposit after 2 business day, it is likely there was a typo entered when you registered your bank account. We suggest you email a VOIDED check or direct deposit statment from your online banking to verify@emoneypool.com. Either document must clearly show your full name, routing and account number.


How do I change my bank account?

You can email a VOIDED check to verify@emoneypool.com. If you do not have checks you can also login to your online banking and download a direct deposit form. We will ONLY accept documents that clearly show your full name, routing and account number. Once received, you can expect to have your bank account updated within 2-3 hours.


Trust Ratings

What are Trust Ratings?

Trust ratings are based on payment history and allow you to easily identify trustworthy individuals outside of your immediate network.

Let's say for example Rick, your neighbor, has a low trust rating because he is always late with his money pool payment. On the other hand Jessica, a member of the eMoneyPool community, has an excellent trust rating because she always makes her payments on time. Which person would you prefer in your next money pool?


Why should I focus on user's trust rating?

Users with low trust ratings can be an inconvenience to the whole group because they have a history of making late payments to their group. If you want your money on time, make sure to group together with users that have a proven track record.


How can I increase my trust rating?

Avoid late payments. Each late payment will negatively impact your score the equivalent of roughly 10 on-time payments.


Money Pool Limits

How can I increase my money pool limit?

Your money pool limit is determined by your trust rating. The higher your rating, the higher your limit. You can increase both your rating and your limit by consistently making payments on time.


Can I join multiple money pools?

Yes, but if the new pool exceeds your available money pool limit, the system will restrict you to the last few positions of that group.


Late or Default Payments

What happens if someone in my group is late with their payment?

A late payment from any group member will temporarily inconvenience the next person set to receive their payout. We suggest you group together with high rated users who have a track record of making their payments on time.


What happens if my payment is late?

eMoneyPool has made it very easy for your payments to be made on time by 1) sending out payment reminders the day before a scheduled payment and 2) automatically making the withdrawal on the scheduled date from the bank account you provided.

That being said, if a payment is still not made on time, then you will be assessed a $10 late fee and your Trust Rating will be negatively affected. Remember that keeping a positive Trust Rating is important to allow you access to higher money pool limits as well as access to earlier positions in future pools.


What happens if someone in my group stops paying?

This is considered a default and eMoneyPool has you covered! After an extended grace period, and inconvenience to the group, we will step in to make the remaining payments. Guaranteed!


What happens if I stop making payments or default on my money pool?

If you owe a balance, it will be due immediately. If payment arrangements are not made within 30 days, we will send the account to formal collections who will report the mark to the credit bureaus. In today's world, a persons credit report is invaluable when qualifing for loans, insurance, apartment leases and even used when applying for jobs. A default on any money pool, if not repaid, has the capacity to negatively affect the future credibility of the defaulter with long term credit consequences.



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