Frequently asked questions
What is a daret?
A daret (a rotating savings circle, or tontine) brings together people who each pay a fixed amount every round. Each round, one member receives the whole pot, until everyone has received it once.
Does the app handle money?
No. No money ever goes through MyDaret. You pay outside the app (cash, transfer…) and MyDaret only tracks who has paid and who receives.
Is it free?
Yes, MyDaret is free today.
Does everyone need to install the app?
No. The organiser can add members without an account, such as grandparents, and track their payments for them.
Can someone have two shares or a half share?
Yes. With 2 shares, a member receives twice. Two half shares split one round and its pot.
How does the random draw work?
The organiser starts the draw, which the server performs. The result is saved in the history and can't be changed, which prevents any dispute.