FAQ

What is Frich?

Frich is the first social finance app for Gen Z. Frich makes money social and brings accountability to personal finances by allowing users to set budgeting goals with friends and keep each other accountable. There are four main aspects of this app: personal challenges, challenges with friends, a dashboard displaying saving goals and a scoreboard exhibiting your progress compared to your friends. Every time you win a challenge, we reward you with free gift cards at your favorite spots in the city. Let’s hack your social life spendings and get F-rich together!

 

Why should I budget?

We are constantly under the pressure to keep up with our friends and, when we can’t afford something, it’s awkward to say “hey, it’s too expensive for me”. Of course, you want to join for the weekend brunch or Thursday night drinks! Budgeting will help you prioritize your spending and focus your money on the things that are most important to you. Being broke ain’t cute. Let’s get F-rich!
 

Where can I learn more about budgeting?

Education is essential to financial wellbeing. Our blog offers digestible and fun articles featuring the basics of budgeting, money saving tricks and crypto.

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When will Frich be available outside of the US?

Although we’re planning to offer Frich globally, we’re currently able to share it with users based in the US only. If you’re based somewhere outside the US but would like to use Frich, we would love for you to join our Testflight community. This is where we test the newest Frich developments and you’ll be able to use the app in its entirety, except connect your bank account (even add your US based friends, who are using the App Store version).

Frichie Questions

 

Do I get any benefits for being a Frich user?

Yes, of course! As you are reading this, we are constantly working on securing more partnerships with different brands to make our Frichies’ lives even more awesome. As a Frich user you can win rewards at brands, such as Adidas, Amazon, Doordash and Starbucks among many others, when you win your friend challenges. 

 

I can’t sign in to my account.

There’s a few things you can try:

  1. Click “forgot password” under the “Sign in” button. You will receive an email with further instructions

  2. If you don’t remember the email you used to create your Frich account, email us at hello@getfrich.com

 

Why should I get the Frich debit card? What benefits does it have?

Frich debit card will be providing you the perks you’ve always wanted. No more collecting points for months - Frich will give you immediate perks, such as a free cup of coffee, free drink or a complimentary food item at your favorite local spots. Launching soon!

 

How do I change my username/email address on file?

Your username is your first and last name, to change that follow these simple steps:

  1. Click on the ‘⚙’ button to view settings.

  2. Select the ‘Profile settings’ tab and directly edit your first and last name under your profile picture.

Unfortunately, we currently use your email address as your unique identifier so you won’t be able to change that.

 

I added my bank, but received an error message.

We’re sorry to hear that! In order to ensure that your data is fully secure and protected, we have partnered with Plaid. Check their website to see a list of banks they support. If yours is not on their list, we unfortunately cannot facilitate the integration of your bank account. If your bank is on their list, but you still receive an error message, please email us at hello@getfrich.com.

 

I can't find my account provider, what should I do?

We’re sorry to hear that! In order to ensure that your data is fully secure and protected, we have partnered with Plaid. Check their website to see a list of banks they support. If yours is not on their list, we unfortunately cannot facilitate the integration of your bank account. If your bank is on their list, but you still receive an error message, please email us at hello@getfrich.com.

 

My transactions are not showing up. What should I do?

To view your transactions, we’ve partnered with Plaid. Plaid is the industry leader in transaction categorization, but just like us, they are growing and improving every day. So mistakes might arise. There are a few reasons your transactions might not have showed up yet:

  1. Plaid algorithms didn’t recognize the vendor your transaction was coming from

  2. We make a “call” to check your transactions every few hours, so maybe we haven’t made the “call” yet

  3. The transaction might have mistakenly been miscategorized as an expense that doesn’t fall into one of our six social life categories: bars, cabs, coffee shops, online shopping, ordering in and dining out

You can always go back in and enter a transaction manually if the algorithms have missed something. Sorry for the inconvenience, we’re growing and getting better every day!

 

How do I delete my account entirely?

To permanently delete your Frich account, follow these steps:

  1. Click on the ‘⚙’ button to view settings.

  2. Select the ‘Profile settings’ tab.

  3. At the very bottom, click 'Delete Frich account'.

 

How do I remove my bank account from Frich?

  1. Click on the ‘⚙’ button to view settings.

  2. Select the ‘Frich savings wallet’ tab.

  3. Unlink your bank account.

 

How is Frich free? What's the catch?

The current version will always remain free for our users. We’re working on a paid version with Frich Premium that will have a variety of exciting social life perks, such as a free round of drinks, complimentary coffee or 30% off your bill. Stay tuned for updates!

 

How do I create an account?

It’s easy! Just follow these simple steps:

  1. Search “Frich” on App Store

  2. Download the app

  3. Create your account! We will ask you for some personal information (because we’re dealing with money) but it's all pretty standard:

    • First and last name

    • Email (needs to be verified)

    • Phone number (needs to be verified)

    • State (we need to comply with different regulations in different states)

    • Date of Birth (so we know if we can offer you bar challenges)

  1. Create your first friend challenges and get F-rich!

 

Do I have to link my bank account to use Frich?

You don’t! But we highly recommend it to make your experience smoother and to make sure you see the true reflection of your spending habits. Trust us, we know all about wishful ignorance, when it comes to spendings :)

 

How do I link my bank account?

The process is facilitated by our partner Plaid. All you have to do is click on “Link bank account” during the signup process and you will be redirected to a Plaid pop-up page that will guide you through the process.

If you choose to skip linking your bank account during the signup process, you can always link your bank account later by going to the “Transactions” tab and clicking on the button “Link bank account” at the very bottom of the page.

 

Which bank accounts can be linked to Frich?

In order to ensure that your data is fully secure and protected, we have partnered with Plaid. Plaid is the industry leader in transaction categorization, but just like us, they are growing and improving every day. Check their website to see a list of banks they support. If yours is not on their list, we unfortunately cannot facilitate the integration of your bank account. 

 

How do I create a personal challenge?

There are six categories in which you can create your personal challenge. We recommend you choose a monthly timeline so you can sit down and mindfully commit to a budget for each category. To do so, follow these easy steps:

  1. Open the Frich app

  2. Click the large middle icon to view your profile

  3. From the top navigation bar, click the “Personal icon”

  4. This will lead to the dashboard of your committed goals to each of these categories

  5. Choose one that you would like to set a budget for

  6. Choose your spending limit, timeframe and click “Create”

 

How do I create a friend challenge?

There are six categories in which you can create your friend challenges. Challenging your friends will make it a lot more likely that you will stick to your budget. Frich friend challenges allow you to bring in an accountability buddy to your social life spendings, and the winner gets a free $5 coupon from the app! To do so, follow these easy steps:

  1. Open the Frich app

  2. Click the large middle icon to view your profile

  3. From the top navigation bar, click the “Social icon”

  4. This will lead to the dashboard of your ongoing friend challenges

  5. Click on the top left '+' button to create a new challenge

  6. Choose your challenge name, category, spending limit, timeframe, invite your friends and click “Create”

 

How do I edit an account?

It’s really easy!

  1. Click on the ‘⚙’ button to view settings.

  2. Select the ‘Profile settings’ tab where you will be able to edit your profile.

 

Can I link more than one bank account?

You’ll be able to do it very soon! Unfortunately, for now you can only link one bank account and you’ll need to add transactions made from other accounts manually.

 

What happens when I release my saving goals? How can I spend those savings?

When you release your savings goals, this money goes into your virtual wallet. We’ve partnered with Sila Money to ensure that this is as safe as possible. From there you have two options:

  1. If you have your Frich debit card, you can use it to make that purchase you’ve been saving for

  2. If you don’t have your Frich debit card, you can transfer the money back to the bank account that you have linked to the Frich app

 

What is Frich Premium?

Frich Premium is the solution to most of your adulting worries. Whether you’re just heading out into the ‘real world’ for the first time, and need a little support, or simply have a few unanswered questions (What is a credit score? When do I start paying tax? How do I prepare for an interview), Frich Premium is here to guide you through it. Forget about endless Google searches and boring tutorials - we answer your questions through fun, short videos, cheat sheets, helpful sources and links, as well as consultations with an actual money coach!

How does Frich Premium work?

Each Frich Premium package is carefully designed to help you apply the information to real-life situations. When you enroll onto a course, you will receive each part of the package directly to your email, where you can access its contents whenever you need.

I have only received one video, where’s the rest?

To make learning easier, we’ve divided each package into smaller, bite-size lessons, so there’s no sitting through long and boring lectures. For example, if the course you have selected consists of 5 parts, you will receive part one on your first day, part two on your second day, and so on. Each package is of a different size, depending on the difficulty of the subject.

 

How do I enroll?

To enroll onto a course you are interested in, all you need to do is purchase said package. For example, if you are interested in the Credit Package, you can enroll here

I have another question/I need more help!

Please reach out to hello@getfrich.com.