Frequently Asked Questions

Have questions about PoolSpark? Find the answer to most commonly asked questions below!

General FAQ

What does PoolSpark do?

See How it Works and read Our Story to see learn more about PoolSpark.

What is a Payout?

A Payout is the pooled amount in your round that is yours. For example, a pool with 10 members pooling $100 per member will have a $1,000 Payout. You would see a $1,000 credit in your bank account, minus the transaction fee.

How do I make my contribution and how do I get my Payout?

When you've joined or created a pool, PoolSpark will deduct your contribution from your bank account only when it's due for a pool. This only happens on the date you've agreed to. This is also how we will transfer your Payout.

Is there a fee for using PoolSpark?

PoolSpark was built to be affordable, easy to use and easy to understand. We also give you your first pool free! Unlike the extremely high interest rates and complicated fees of credit cards, check cashing stores and other financial services, PoolSpark only has a 3% fee when you collect your payout. That's it. No hidden fees and you only pay it once. For example, a pool with 10 members pooling $100 per member will have a $1,000 Payout, minus your fee of $30.

Why do you need my bank account information?

This allows us to automate your contribution and Payout while also keeping PoolSpark more secure for all users. We take your privacy and data secuirty very seriously. It is only used for this purpose and we do not store this information. Please see our Privacy Policy to learn more.

Why do you need the last four digits of my social security number?

As part of the USA PATRIOT Act, there's a requirement for your bank to verify the identity of individuals wishing to conduct a financial transaction. PoolSpark does not store this data. Once you are verified you won't need to enter it again.

Is PoolSpark safe and secure?

PoolSpark utilizes encryption technology for all transfers and follows industry security standards to protect all member information. To learn more about how we protect your information, see our Privacy Policy.

Is connecting with Facebook a requirement?

No, this is an option if you want to sign up or login using your Facebook login. This is a personal preference. We do not post on your page or on your behalf.

What if I have an emergency and I need to pull out of a pool?

Unfortunately, this would put a major burden on your other pool members. Timely Payouts and the pooling of funds is fundamental to making PoolSpark work for everyone. To learn more about our Terms and Conditions, click here.

Is there any interest or returns with PoolSpark?

PoolSpark doesn’t offer, or claim to offer, any returns, gains, interest, income or profits. This is not an investment vehicle, and there are no levels or hierarchies to worry about. Our service is similar to a ROSCA (rotating savings and credit association), which is a simple savings strategy that has been used around the world in many different cultures for a very long time. It’s essentially a way for friends or family to save together. You’re not being asked to sell anything, nor is there any payment to recruit. Simply put, you get what you put into it.

How is the member rating calculated?

This is based on a proprietary algorithm that uses members' pooling history and other provided information to create a score that will help protect the community of members. There are no credit checks.

Is there a limit to how many pools I can join?

You can only join up to two different pools at one time.

Can non-owner invite members to a pool?

Yes, any of the people you invite to a pool may invite another person in their network. This allows your pool to start faster with other trustworthy members.

What happens if someone doesn't make their contribution?

This may cause a delay for the other pool members. There will be a $35 fee charged to the member that didn't make their contribution, and they may not be able to participate in future pools.

In order to maintain the integrity and trust within our community, PoolSpark GUARANTEES that all payouts in an active pool will be made even if a member defaults or is late on their payment. If a situation arises where the pool cannot be completed, all of the contributions for the non-defaulting members will be returned in the same amounts that were transferred.

What happens if my bank account doesn't have enough funds at the time of the transfer?

You are in default of your commitment. You will be charged a $35 fee and we may need to notify the other members in the pool. You will still be charged for the contribution. Please see our Terms and Conditions for more information.

What happens if my transfer or Payout happens on a holiday or weekend?

The transfer will occur on the next business day.

How do I close my PoolSpark account?

If you’d like to close your PoolSpark account, please contact us at

For other questions, please contact us at


Learn More About Transfers and Our Partner Dwolla

What is Dwolla?

Dwolla is a powerful payments platform that securely connects to bank or credit union accounts to enable the transfer of money for any individual or organization in the U.S.

Why is my transfer still pending?

A bank or credit union transfer usually takes 3–4 business days to complete via the Automated Clearing House network (ACH) used by banks to transfer funds. Please note that transfers take longer to complete if over a weekend or a holiday.

Why did the transfer fail?

Sometimes transfers to or from a bank or credit union can fail. Here are a few reasons why a transfer can fail:

  • Insufficient funds: There are insufficient funds in the sending bank or credit union account to complete the transfer.
  • Frozen account: A bank or credit union account has been frozen.
  • Other reasons: A bank or credit union rejects the transfer for some other reason.
  • If a transfer fails, please contact your bank or credit union to check on the status of your account. Then either re-initiate the transfer or ask your financial institution why the transfer may not be processed.
Why am I being asked for more documentation?

If we ask for a photo ID: Additional information is needed to verify your identity. Please upload one of the following forms of identification:

  • An unexpired, current, state-issued driver’s license or identification card OR
  • An unexpired, current U.S. passport

If we ask for a bank statement:

  • Additional information is needed to verify that you are an authorized signer on your connected bank or credit union account. Please upload a copy of a recent statement.
How does Dwolla protect customers' data?

At Dwolla, we take protecting data seriously. Dwolla maintains compliance with the SOC 2 framework. This framework provides an independent, third-party assurance that we are taking the appropriate steps to protect our systems and your data. Learn more about Dwolla’s security practices here.

You may also reach our partner, Dwolla, Inc. at​ or 1-888-289-8744.