How it works
The savings circle —
step by step
Circl digitises the savings circle model that communities around the world have used for centuries.
Form your circle
Invite people you trust — family, friends, colleagues, community. Set the contribution amount in any currency (JMD, GBP, USD, CAD, EUR), how often you meet, how many members, and how the payout order is decided.
Elect a treasurer
Your circle votes to elect a treasurer — the member responsible for receiving contributions and distributing payouts. The treasurer is accountable to the circle, not to Circl. All their actions are logged on the platform.
Contribute each cycle
Each member transfers their contribution directly to the treasurer using any payment method — bank transfer, mobile money, remittance, or cash. They record it on Circl with a reference number. The treasurer confirms.
One member receives the pot
At the end of each cycle, the treasurer distributes the full pool to the designated recipient. This is confirmed on the platform. The rotation continues until every member has received once.
Govern collectively
Any member can propose a change — new rules, payout order, admitting or removing a member, resolving a dispute. Members vote. The outcome is recorded permanently. Circl never overrides a member decision.
Audit everything
Every contribution, vote, proposal, and payout is logged in an immutable audit trail. Your circle has a permanent, transparent record of everything — accessible to all members at any time.
What Circl never does
Hold your money
Circl is not a bank. Funds always go directly to the treasurer, never to Circl.
Make financial decisions
Every payout, rule change, and admission is decided by member vote — not by the platform.
Share your data
Your identity and financial records are never sold or shared with third parties.
Frequently asked questions
Do I need to be Jamaican or Caribbean to use Circl?
Not at all. Savings circles exist in every culture. Circl works for any group, anywhere, in any currency.
What currencies does Circl support?
Currently JMD, GBP, USD, CAD, and EUR. Each circle sets its own reference currency. Members in different countries contribute the local equivalent.
Is my money safe?
Circl never holds your money — it goes directly to your elected treasurer. The platform records and audits every transaction, but the financial risk of the treasurer model is yours to assess. Only join circles with people you trust.
Is Circl free?
Yes — completely free during the beta period.
What happens if someone does not contribute?
The platform flags missed contributions. Your circle can vote to address it — warn, remove, or resolve via governance. Circl records the outcome.
Do I need to verify my identity?
Yes. All members complete identity verification before joining a circle. This protects all members and ensures AML compliance.