Question 1

What is a Braid Pool?

Accepted Answer

A Braid Pool is a new way to collect, manage, and spend money with friends and family. Braid Pools can be used for one-off and ongoing shared expenses.

Question 2

How do Braid Pools work?

Accepted Answer

After you create a pool, you can invite others to join. Your group will pay directly into the pool, and that's where your shared money lives. Coming soon: pool debit cards so you can spend right from your pool.

Question 3

What is the difference between pool members and contributors?

Accepted Answer

Members who download the Braid app can see contributions, invite other members, spend with the Braid card, etc. As the pool admin, you can adjust these permissions for each invited member.  Contributors don’t need to download Braid. They can only contribute directly through the Pool Link with a debit or credit card. To access the pool, contributors will have to be invited as a member and download the app.

Question 4

Does Braid charge fees?

Accepted Answer

Braid is free to use, we do not take a percentage of the money you collect. We charge a 3% + $0.30 fee for contributions made with a credit card and a 1.75% fee for instant send transfers.

Question 5

Is Braid secure?

Accepted Answer

We take security very seriously. All payment and personal information is encrypted end-to-end, using industry-standard best practices. This means your pooled money is safe and your personal data is protected.

Question 6

How is Braid different from Venmo, Cash App, Zelle, PayPal, etc.?

Accepted Answer

Braid is designed for group use. Pooled money is held in a dedicated space you can share with others. You can invite as many people as you want to a pool, and set permissions for what they can do like spending money.

Question 7

Does Braid check my credit?

Accepted Answer

We do not check your credit, and do not report anything back to credit bureaus. We are, however, required by law to verify your identity in order to use money on Braid.

Question 8

Who is behind Braid?

Accepted Answer

We’re a small team based in San Francisco, California. Members of our team have worked at places like Github, Etsy, Snapchat, PlayStation, Coursera, ThreatMetrix, Facebook and Google. We are passionate about making shared payments simpler, lighter and more personal. You can read more about our culture and company values at https://keyvalues.com/braid.

Question 9

How does Braid make money?

Accepted Answer

When groups, communities, and organizations use our debit card, merchants (like Costco, Airbnb, Amazon, Target, etc.) pay us a fee every time you shop with them. This revenue stream, called Interchange, enables us to keep Braid free for all our members.

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