Question 1

What is Money Fellows and how does it work?

Accepted Answer

Money Fellows is an Egyptian fintech platform that digitizes money circles (also called ROSCAs or game'yas), a traditional savings system where groups of people contribute money regularly and take turns receiving payouts. You join or create a money circle by selecting a payout amount (ranging from 3,000 EGP to 1,200,000 EGP), choosing a duration (6, 10, or 12 months), and picking your payout slot in the cycle. Members make monthly contributions, and when your turn arrives, you receive your full payout amount minus applicable fees.

Question 2

How much does Money Fellows cost?

Accepted Answer

Money Fellows charges a one-time admin fee based on your payout slot position, starting at 16% for early slots and decreasing to 0% for later slots. The average annual cost is around 4% of the total borrowed. You can earn up to 20% cashback on payouts for larger savings goals. The Money Fellows prepaid card costs 149 EGP for circles users and 350 EGP for non-users.

Question 3

What countries does Money Fellows operate in?

Accepted Answer

Money Fellows currently operates in Egypt.

Question 4

How do I sign up for Money Fellows?

Accepted Answer

You can sign up digitally in minutes by scanning your ID through the app. You'll receive your contract at your doorstep, and then you can start joining or creating money circles.

Question 5

Does Money Fellows have a mobile app?

Accepted Answer

Yes, Money Fellows has mobile apps available on both iOS and Android.

Question 6

Who is Money Fellows best suited for?

Accepted Answer

Money Fellows is best suited for Egyptians aged 27 to 35 who want to save for major life goals like weddings, home purchases, travel, or school fees, or who need affordable access to cash without traditional bank loans. It appeals to both savers and borrowers looking for lower fees than typical bank personal loans.

Question 7

How do I contact Money Fellows support?

Accepted Answer

You can send an email to support@moneyfellows.com for support.

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