Collctiv is completely free to request and send money between friends 🙌.
When it's time to withdraw your funds, you can choose to:
1. Cash in your pool for a gift card. Choose from 30 popular retailers and receive your gift card instantly.
2. Send your money to someone else.
3. Withdraw to your bank account.
There is no fee for withdrawing money to a gift card or to another Collctiv user. However, there is a 6% transaction fee for withdrawing money to your bank account. This fee helps us cover the costs of processing the withdrawal and ensuring that your money is delivered to your bank account quickly and securely.