About the Kin App
Kin is an app for people to do money things together, better. We’re working with our customers to co-create Kin.
You can use Kin to create groups with others, where you keep a record of transactions. Kin will calculate how to split those transactions fairly, and will let everyone in the group know who owes who what. You can then use Kin to settle up with each other (i.e. pay each other) based on the calculation, either by payments in the app, or outside of Kin - easy and fair!
The Kin app is available on iOS or Android only.
Download the Kin app
Currently, Kin is in a closed alpha period. That means that access to downloading Kin is restricted. If you’d like early access to Kin, please sign up for access here .
Monthly Subscription: free during the alpha period
Transaction Fees: 3% of value (minimum R10 fee), but also free during the alpha period
Sending and receiving funds
1. Sending Limits
We may put limits on how much money you can send or receive through Kin. If we have authenticated your identity, we may increase your limits. These limits may change from time to time at Kin’s discretion. You may not send money to your own account.
2. Funding Source Limitations
To minimise risk, Kin may limit how many sources you can use to fund any particular transaction.
Please note that different funding sources have different rights and procedures to resolve disputes and your rights are determined by the funding source for the transaction that is disputed.
3. Refused and Refunded Transactions
When you send money, the recipient does not have to accept it. You agree that you will not hold Kin liable for any damages resulting from a recipient's decision not to accept a payment made through Kin.
4. Fees for Sending Money
When transactions are funded by any bank, a service fee may be charged. These fees may change from time to time at Kin’s discretion, and will be displayed on our FEES SCHEDULE. You may have to pay third party fees, for example insufficient fund fees or reversal fees. There may be a fee based on your banking package, for example transacting from a savings account usually has a “withdrawal/transaction” fee.
You can review the fees on our FEES SCHEDULE.
5. Payment Investigation
Payment investigation is when Kin reviews transactions that may be high-risk. If a payment is subject to payment investigation, Kin will place a hold on the payment and may notify the recipient. Kin will conduct a review and either clear or cancel the payment. If the payment is cleared, Kin will notify the recipient. Otherwise, Kin will cancel the payment and the money will be returned. Kin may notify you if the payment is cancelled.
6. Risk of Reversals, Chargebacks and Claims
If you receive a payment that is later invalidated for any reason, you are liable to Kin for the full amount of the payment plus any fees, even if you lose a claim or a chargeback, or if there is a reversal of the payment.
If you send a payment and later dispute it or file a claim for a chargeback, the debit or credit card issuer or the originating bank, not Kin, will decide if the dispute is valid and who payment is due to.
You agree to allow Kin to recover any money due to it by debiting your account. If there is not enough money in your account to cover your liability, you agree to reimburse Kin through other means. If Kin can’t recover the money from your primary funding source, we may contact you, recover the money from alternate funding sources you may have, or take other legal actions to collect the amount due.
7. Item Hold
Kin may place a hold on a payment you receive for a transaction if we believe there may be risk associated with the transaction.
8. Release of Item Hold
Kin will release the payment hold after 21 days unless we receive a dispute, claim, chargeback or reversal on the transaction, subject to the hold. Kin may release the hold earlier if the person who sent the money gives us confirmation, if we can confirm proper delivery, or if we complete our investigation.
9. Additional hold period
If you receive a dispute, claim, chargeback or reversal on the transaction subject to the item hold, Kin may hold the payment in your account until the matter is resolved pursuant to this Agreement.
10. Account Hold and Reserves
For high volume accounts, Kin may place a reserve on money in your account if it believes there is risk associated with your account. If this happens, Kin will notify you, specifying the terms of the reserve. The terms may require that a percentage of the money received into your account is held for a period of time, or that a certain amount of money is held in reserve, or anything else that Kin believes is necessary to protect itself against risk associated with your account. Kin may change the terms of the reserve at any time by notifying you of the new terms.
If and when this Agreement ends, we have the right to prohibit your access to Kin, including by deactivating your username and access, and to refuse you future access.
Rules and Restrictions for Personal Accounts
The following Rules and Restrictions apply to your use of a personal account:
1. Receiving Money
Kin may impose limits on sending or receiving money. These limits may change from time to time at Kin’s discretion.
2. Transaction Fees for Receiving Money
Fees may change from time to time at Kin’s discretion.
3. Error in Receiving Money
In the event of an error, you give Kin permission to make appropriate corrections by debiting or crediting your primary or alternate funding sources, subject to our compliance with applicable law.
4. Account Errors
If your account history shows payments you did not make, please contact us: firstname.lastname@example.org
You agree not to use Kin to violate any law, statute, ordinance or regulation relating to sales of:
1. counterfeit goods;
2. narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety;
3. drug paraphernalia;
4. items that encourage, promote, facilitate or instruct others to engage in illegal activity;
5. items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
6. items that are considered obscene;
7. items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
8. certain sexually oriented materials or services;
9. ammunition, firearms, or certain firearm parts or accessories, or certain weapons or knives regulated under applicable law;
10. tobacco products;
11. prescription drugs;
12. devices involving gambling, gaming and/or any other activity with an entry fee and a prize, including but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from Kin and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.
You agree not to use Kin to violate any law, statute, ordinance, or regulation relating to transactions that:
13. show the personal information of third parties in violation of applicable law;
14. support pyramid or Ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs;
15. are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card;
16. are for the sale of certain items before the seller has control or possession of the item;
17. are by payment processors to collect payments on behalf of merchants;
18. are associated with the sale of traveller’s checks or money orders;
19. involve currency exchanges or cheque cashing businesses;
20. provide certain credit repair or debt settlement services;
21. involve the sales of products or services identified by government agencies to have a high likelihood of being fraudulent;
22. are otherwise related to illegal activity, gambling, pornography, obscene material or otherwise objectionable content or activities.