FAQs

Why Reel?

We are rethinking the way people shop, by giving them the financial empowerment they need to use their own money to pay for what they want. No debt. No guilt.

What makes Reel unique?

Reel is all about helping you get to your end goal smartly and with ease. We believe that anything you want—no matter the price—is hidden in your finances. By combining automated savings and price alerts under one experience, we’re allowing our Reelers to make their money work for them.

How does Reel work?
  1. Tell us what you want
    Search from millions of products for what you want, anything from clothing and accessories, to furniture and home decor, can all be found. Or click “I don’t see what I’m looking for” to create your goal by answering a few questions.
  2. Set a saving strategy
    Pick how much you want to save every day, then link your bank account to start automatic transactions towards it.
  3. Save up, then own it
    As you save, we’ll keep you inspired and track the price. Once you have the full amount, we’ll place the order for you.
Isn’t Reel just like layaway?

Not quite. Most stores that offer layaway plans have fees, plus you are committing to that one retailer. With Reel, you are not limited to one store. And since we don’t hold inventory, we get to look for better deals from hundreds of retailers as you keep setting money aside. Think of us as a save away ; ).

Can friends chip in for my item?

Coming soon, so hold that thought.

What about one-time contributions?

Yep, that’s in the works too. 

Are there any fees?

Nope. Reel is free for users. We get a commission from the sale.

How does the money get transferred?

Through ACH transactions, which is a standard process many financial institutions, apps, and platforms use. Keep in mind once a debit is requested, it takes approximately 3-5 business days for the money to clear from your bank account and credit towards what you are Reeling.

How can I avoid overdrafts?

Glad you asked! When selecting the account you want to automatically debit from, it’s very important that, well, it has enough funds. So make sure you connect an account that has a constant stream of cash coming in. Reel only knows from which account to make daily or weekly debits from, not how much is available on it.

How secure is Reel?

We make the security of your funds and information our top priority. Your money lives in a FDIC insured account (covered for up to $250,000). We also use certified SSL communications to encrypt and safely store your info.

How do I access my Reel funds?

Once logged into your Reel account, you would be able to track and edit your daily/weekly contributions, as well as update your banking information.

What if I want my saved money back?

Reel works with Stripe, which means you can request for your funds to be returned to your account at any point. Keep in mind there is a flat $5 fee to process the full refund.

Once my item is funded, how do I get it?

Reel will notify you once you have saved for your item in full. We’ll need the shipping address so we can place the order for you, so we suggest you include your zip code during your account setup, that way we’ll be able to add tax to the total amount you are saving for. Shipping varies depending on the retailer, most offer standard free shipping (3-5 business days). But, we’ll notify you if that’s not the case.

More Questions? Feel free to drop us a line. You can Contact Us anytime.

Join Reel today and start treating yourself to what you love.



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