GoalCollect
A friend is lending you money
Here is exactly what happens, what it costs you, and how repayments work.
1. You get a text and a prompt
Your friend enters your number and the loan amount. You receive a text from GoalCollect, then a mobile money prompt on your phone.
2. You approve a GH₵0.20 processing fee
Entering your PIN pays a one-time GH₵0.20 processing fee and sets up automatic repayment on your wallet. Keep at least GH₵0.50 in your wallet so the prompt goes through. This fee is not part of your repayment and is not refunded.
3. The loan is sent to you
As soon as the repayment plan is confirmed, the loan lands in your wallet. You and your friend both get a text with the amount and the repayment dates.
4. Repayments happen on the agreed dates
On each due date the agreed instalment is taken from your wallet. Once the full amount is repaid, debits stop and you both get a text.
Common questions
- Why do I pay GH₵0.20?
- It confirms your wallet can be debited and sets up the repayment plan in one step, so your friend's money is only sent once repayment is in place.
- Will you take more than I agreed?
- No. Debits stop as soon as the full loan is repaid. Every payment shows a mobile network transaction ID you can check on your wallet.
- What if I don't approve the prompt?
- Nothing is taken and no loan is sent. Your friend can ask for the prompt again or cancel and get their money back.
- Can my friend forgive the rest?
- Yes. The lender can choose "Forgive this debt", which stops all further debits straight away.
Read the full Terms of Service or see how the app works.