Welcome to Farely! By using our app, you agree to these Terms of Service (“Terms”). Please read carefully. If you do not agree, do not use the platform.
01 About Farely
Farely helps groups plan budgets, track expenses, and manage reimbursements through an anonymous process. Farely is a software platform only. Farely is not a bank, money transmitter, payment processor, or financial institution, and does not hold, custody, or transmit funds. All payments are processed exclusively through third-party payment providers (e.g., Stripe). Your use of payment features is also subject to your payment provider’s terms of service.
02 Eligibility
You must be at least 18 years old and capable of entering into a binding contract to use Farely. By using the app, you confirm that you meet these requirements. If you are using Farely on behalf of a group, you represent that you have authority to bind that group to these Terms with respect to your actions on the platform.
03 Fees and Payment Disclosure
Farely charges a platform fee on reimbursement transactions. The fee is calculated as follows:
Fee Calculation: The total platform fee is equal to 4% of the total reimbursable amount for the group — meaning the aggregate amount that must be distributed among group members to settle the budget. This fee is then allocated proportionately among all group members based on each member’s individual budget share relative to the total group budget.
Example: A group member with a $200 individual budget in a $1,000 group budget bears 20% of the total platform fee.
How fees are applied: Members who owe money to the group will pay their proportionate fee in addition to their reimbursement amount. Members who are owed money will receive their reimbursement amount less their proportionate fee.
Net display: Settlement amounts displayed in the app reflect net figures after fees have been applied. A detailed fee breakdown is available upon request by contacting support at support@getfarely.com.
Fee changes: The platform fee percentage is currently 4% and is subject to change. We will provide reasonable advance notice of any changes to the fee percentage. Continued use of the platform following such notice constitutes your acceptance of the updated fee structure.
By confirming a transaction, you acknowledge that you have read, understand, and consent to the fee structure described above.
04 Group Budgets & Payments
- Anonymous budgets: Individual budget inputs remain private to each user. Only group totals are visible to other members.
- Expenses & reimbursements: Payments and reimbursements are processed by third-party providers subject to their terms and availability.
- No guarantees: Farely is not responsible for failed, delayed, disputed, or uncompleted payments. All funds flow through third-party payment partners. In the event of a payment dispute, your remedy lies with the applicable payment provider, not Farely.
- Group dynamics: Farely is not responsible for disputes between group members regarding contributions, expenses, or reimbursements. The platform is a tool — resolution of interpersonal financial disputes is the responsibility of the group.
05 Your Responsibilities
- Only submit accurate information including expenses, budgets, and contact details.
- Use the platform respectfully and lawfully.
- Do not use Farely for any unlawful purpose including fraud, money laundering, or circumventing payment provider terms.
- You are solely responsible for any tax or reporting obligations arising from group payments or reimbursements. Farely does not provide tax advice and nothing on the platform constitutes tax guidance.
- You are responsible for maintaining the confidentiality of your account credentials. Farely is not liable for unauthorized access resulting from your failure to secure your account.
06 Privacy and Data
Your use of Farely is also governed by our Privacy Policy, which is incorporated into these Terms by reference. By using the platform, you consent to the collection and use of your data as described in the Privacy Policy. Anonymous budget features are designed to limit individual financial exposure within groups, but Farely cannot guarantee complete anonymity in all circumstances.
07 Intellectual Property
All content in Farely — including designs, logos, software, and platform architecture — is owned by Farely or its licensors. You may use it only for personal, non-commercial purposes directly related to the service. You may not reverse engineer, copy, or create derivative works from any part of the platform.
08 Termination
We may suspend or terminate your access at any time if you violate these Terms, misuse the service, or act in a way that harms the platform or other users. Upon termination, your right to access the platform ceases immediately. Provisions of these Terms that by their nature should survive termination — including liability limitations, IP ownership, and dispute resolution — will survive.
09 Disclaimer & Limitation of Liability
Farely is provided “as is” and “as available” without warranties of any kind, express or implied. We do not guarantee uninterrupted, error-free, or secure service.
To the maximum extent permitted by law, Farely’s total liability to you for any claim arising from use of the platform shall not exceed the greater of (a) the total fees you paid to Farely in the six months preceding the claim, or (b) $50.
We are not liable for any indirect, incidental, consequential, punitive, or special damages, including lost funds arising from third-party payment failures, group member disputes, or platform downtime.
10 Dispute Resolution
Any dispute arising from these Terms or your use of Farely shall be resolved through binding arbitration under the rules of the American Arbitration Association, conducted in North Carolina. You waive any right to a jury trial or class action lawsuit against Farely.
11 Changes to These Terms
We may update these Terms from time to time. We will notify you of material changes via email or in-app notice. Continued use after notice constitutes acceptance.
12 Governing Law
These Terms are governed by the laws of North Carolina, without regard to conflict of law principles.