Prana Circle is a digital susu app that makes organizing a susu hassle-free and fast. Most importantly, Prana Circle lets everyone participate in a susu without any exposure risk to covid-19. You don’t need to travel around and collect everyone’s money and you don’t need to touch cash. You can keep your family safer from Covid-19 and do everything susu-related from the comfort of your home.
We all know that susus can be a pain to administer.
Susu organizers have to:
1. Nag members to pay on time.
2. Coordinate the mode of payment and drop off location.
3. Be responsible for a large amount of cash.
4. Keep records of who contributed and whose turn it is to get the payout.
5. Manage demands around draw dates.
6. Deal with Covid-19 exposure.
Prana Circle addresses all these pain points. Here’s how:
Prana Circle is a digital app that works with a reliable and well known payments processor to automate all financial transactions. This means that you can organize a susu, make contributions, and get a payout, all remotely without the fear of any Covid -19 exposure. Prana Circle strives to modernize how susus are organized while keeping the social and traditional spirit of practice.
All members are required to link their bank accounts before the circle kicks off which means all contributions and payouts are automated. This helps in a number of ways.
1. Every week or month on the draw date, the money is directly debited from the contributors account and goes into the recipients account. Since it is all automated, no one forgets to make a payment even if they are traveling or busy and the organizer doesn’t need to nag anyone.
2. All the financial transactions are handled by Prana Circle’s payments processor and directly debited or credited from and into member accounts. Third party payments app like Zelle or Venmo, or even cash or checks are not necessary.
3. The movement of money is peer to peer and the organizer is not responsible or liable for the total payout which means anyone can now organize a group without feeling the pressure to be responsible for other people's money.
1. All members can see who gets paid when, and who has made their contribution and who hasn't.
2. Members are notified using in-app notifications as well as emails every time a contribution is made or a payout is received.
3. Members are also kept up to date by a feed on their app regarding the status of the group/circle.
1. Draw dates are given out on a first come first served basis. When the organizer invites other members, the member who signs up first, and accepts the invite, gets to choose their draw date first from all the available draw dates. The organizer is not involved in dispensing the draw dates and has one less thing to worry about.
1. Members can keep in touch using Prana Circle’s chat feature. This is a particularly handy feature for the organizer to put a word out amongst other members to bring in more members who are trustworthy.
2. Members can communicate with each other to negotiate draw dates, etc.
A few things to keep in mind before getting started:
1. It takes 5 mins to get started with Prana Circle and organize a circle. This includes setting up your circle, signing up, validating your ID, linking your bank account and inviting other members. Please make sure you have the last 4 digit of your social security and your bank login before you get started.
2. Prana Circle can be used to organize a circle between the size of 3 - 30 members with a maximum payout of $5000.
3. Other members have to accept the invite before the start date. If all members have not accepted the invite before the start date, the circle dissolves so please make sure that you talk to the friends and family before you invite them.
Prana Circle increases the efficiency of a susu so that anyone can start a susu with people they trust. Also, anyone can start more than one susu thereby saving more money. If you would like to organize a susu using Prana Circle, please download the app for Apple users and for Android users.