Withdrawal Policy
1. Overview
This Withdrawal Policy outlines how payouts and withdrawals work within Kamety savings circles. Since Kamety facilitates peer-to-peer community savings, the withdrawal process differs from traditional financial institutions. This policy applies to all users of Kamety (a product of Jungle Star Inc.).
2. How Payouts Work in Kamety
2.1 Rotating Savings Model
In a traditional Kamety/Committee savings circle:
- Members contribute a fixed amount at regular intervals
- Each cycle, one member receives the total collected amount (the "pot")
- The rotation continues until every member has received a payout
- Payout order can be determined by lottery, bidding, or mutual agreement
2.2 Payout Process on Kamety
When it's your turn to receive the payout:
- The group administrator or automated system will notify all members
- Members are expected to send their contributions directly to the payout recipient
- Kamety tracks and confirms all contributions through member declarations
- Once all members confirm payment, the cycle is marked as complete
- Funds are typically transferred within 1-3 business days
3. Requesting a Payout
The process for receiving your payout depends on your group's rules:
3.1 Scheduled Rotation
If your group uses a fixed rotation schedule, payouts are automatically triggered on your scheduled date. You don't need to request anything — members will be notified to send contributions to you.
3.2 Lottery-Based
For groups using random selection, the Kamety system will conduct a transparent, verifiable lottery to determine the payout recipient for each cycle. Winners are notified immediately via email and in-app notification.
3.3 Bid-Based (Auction)
Some groups allow members to bid for early payout positions. The member offering the highest discount receives the payout. Bidding is conducted through the platform, and winners are selected automatically at the end of the bidding period.
4. Early Withdrawal (Before Your Turn)
If you need funds before your scheduled payout date, you have limited options:
4.1 Find a Replacement
You may transfer your membership position to another person who agrees to take over your remaining contributions. The new member would then receive the payout on your original scheduled date. This requires group admin approval.
4.2 Group Approval for Early Exit
With unanimous group consent, you may withdraw early. In this case:
- You forfeit any contributions made to date (unless the group agrees otherwise)
- The group must adjust the rotation schedule
- A replacement member may be needed to maintain contribution levels
- Any late fees or penalties as defined by group rules apply
4.3 Emergency Withdrawal Request
Some groups have emergency provisions allowing members to request early payout in case of financial hardship. This requires group approval and may involve penalties or interest. Contact your group administrator for emergency provisions.
5. Default and Late Payments
If a member fails to contribute on time:
- The group administrator will be notified immediately
- Kamety sends automated reminders to the defaulting member (Days 1, 3, 5, 7)
- Group rules determine consequences (late fees, suspension, or removal)
- If you are the scheduled payout recipient and a member defaults, you may receive a partial payment
- Groups are responsible for collecting defaulted amounts — Kamety does not guarantee full payouts
- After 30 days of default, the member may be permanently removed from the committee
6. Refund Policy for Subscription Fees
6.1 Monthly Subscriptions
Monthly subscription fees are non-refundable. If you cancel mid-month, you will retain access until the end of your billing period, but no prorated refund will be issued.
6.2 Annual Subscriptions
For annual plans, you may request a refund within 14 days of purchase if you have not created any committees. After 14 days or if you have active committees, no refunds are available. Refunds will be processed to the original payment method.
6.3 Free Trial
If you signed up for a free trial and convert to a paid plan, no refund is available for the trial period.
6.4 How to Request a Refund
To request a refund for subscription fees, contact billing@kamety.com with your account email and reason for refund. Refunds, if approved, will be processed within 10-15 business days.
7. Dispute Resolution for Payout Issues
If you believe you did not receive a payout you were entitled to:
7.1 Internal Resolution
First, communicate with your group administrator and members. Kamety provides a dispute resolution feature within groups to track and resolve payment issues.
7.2 Escalation to Kamety Support
If the group cannot resolve the issue, contact Kamety support at disputes@kamety.com. We will review platform records and mediate if possible. However, Kamety is not responsible for enforcing payments between members.
7.3 Legal Recourse
For unresolved disputes involving significant amounts, you may pursue legal action against defaulting members. Kamety can provide transaction records and communication logs as evidence upon legal request.
8. Contact Information
For questions about withdrawals, payouts, or this policy:
Withdrawal Support: withdrawals@kamety.com
Dispute Resolution: disputes@kamety.com
Billing Questions: billing@kamety.com
Address: Jungle Star Inc., Canada