Who owns the money in a Group Jar?

Whoever creates the Group Jar owns the account legally and is the only one who can withdraw and manage the money in it. The money you put in is therefore legally the property of the Jar Chief, even if it’s meant for the group. The Jar Chief is also responsible for the funds and for reporting them correctly to the tax authorities.

The Jar Chief takes care of the withdrawals for the group, while the rest of you can put money in and keep an eye on every króna. That’s why it’s a good idea to pick a Jar Chief everyone trusts 🤝

The app shows all contributions clearly, so everyone can see how much each person has put in. That helps prevent misunderstandings. But if a disagreement comes up about who owns what, indó doesn’t get involved, and the group will need to sort it out among themselves.

Pro tip: decide upfront how the money will be used and what happens if the goal isn’t reached 😉