Create a goal with the total amount needed and a deadline. We calculate what you each need weekly, invite your friends to the goal, and remind them to contribute when they can.

We provide each member with their own six digit reference code. Simply use this as reference on any deposit you make into our ASB trust account (you could save us as a payee or create an automatic payment on your banking app). Your balance on our app will be updated with the new amount within 24 hours!

As often as you like, for any amount that you would like! We calculate a weekly amount as a target, but understand some weeks you may be able to save more, some weeks less.

Make a larger deposit monthly, skip a payment, or double-up when you can. It's important that everyone reaches the goal, not how they get there!

Once all members reach the goal, we return all the savings to each member and the group can make their plan a reality!

Your money is always yours. While it’s held in our trust account and pooled with your group, you are able to get it back if needed — like in an emergency.

Groupsy charges a flat fee of 3% (minimum of $15 per member, per goal).

This is simply deducted from each user's final amount when the goal is reached.

Groupsy is owned and operated by Green Light Escrow Limited. Your funds are held in an ASB commercial trust account by its wholly owned subsidiary Green Light Escrow Trustee Limited.

Green Light Escrow Limited is a Registered Financial Service Provider (FSP) under the Financial Services Providers (Registration and Dispute Resolution) Act 2008 - and a member of the Financial Services Complaints Limited independent dispute resolution service.

Green Light Escrow Limited is not licensed by a New Zealand regulator to provide the Groupsy service. Its registration on the New Zealand register of financial service providers and membership of the Financial Services Complaints Limited dispute scheme does not mean that Green Light Escrow Limited is subject to active regulation or oversight by a New Zealand regulator.

All member need to confirm their identity with us when using our service (this only needs to be done once).

We do this simply and securely using AplyID – you just need a driver’s license or passport and smartphone – it takes a couple of minutes.

This is required to meet our obligations under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.