Find out how much you would pay as a Borrower and Lender, and learn the ins and outs of Daggle’s dynamic weekly subscription fees
Daggle doesn’t work like other online marketplaces (as I’m sure you’ve noticed already). Most charge you on a per transaction basis. They typically add a fee to one side using the platform and take a cut from the side earning money from it.
Not at Daggle.
We want to be completely aligned with our users so that the better you do, we do as well. Here’s how it works:
If you borrow
We will never charge you for using Daggle to borrow things. Ever.
If we did, and levied a fee on you just for borrowing, to make any financial sense we would have to charge 15–20%.
That just doesn’t make any business sense. You’re here to save money and try new things, so why make you pay more? It only acts as a disincentive.
So we’re back to zero. Zero transaction fees for borrowers.
If you lend
It’s more or less the same story for lenders. Zero fees on transactions.
That’s because transaction sizes are generally going to be smaller than, say, renting out your house on AirBnB. Taking a 15–20% cut on a smaller sum would only disincentivize you from lending anything out in the first place.
So: No transaction fees on either side. You keep what you earn. Period.
Instead, what we do at Daggle is charge you a flat weekly subscription fee, depending on how much you earned that week.
The fee increases as you enter different earnings bands, much like how progressive tax works. If you go down and earn less, we charge you a smaller fee. The whole thing is dynamic and matches your earning power.
In Week 1 you sign up and earn $20 by lending out a few things on Daggle. (Nice going!) At the end of the week you get charged a flat fee of $0. Why? Because you haven’t started earning enough to be charged anything yet. You are on Tier 0 and we want you to do better.
In Week 2 you kick it up a gear and now earn $51. You have now crossed our hypothetical first fee threshold of $50 into Tier 1, and so are charged the lowest hypothetical fee, say $2 at the end of the week.
In Week 3 you are really on a roll and now earn $74 but you haven’t crossed the next fee threshold ($75) and are still on Tier 1, so you are charged another flat fee of $2.
Week 4 is a different story as you take it to the next tier and earn $95. You’re well past the next fee threshold of $75 and so are now charged the hypothetical fee of $5 for Tier 2.
In Week 5 you decide to go on holiday, spend a little of that extra Daggle income (you can withdraw your earnings!). You take two weeks off and so can’t lend many things out. You earn $30 the week you return and are back down below the lowest fee threshold of $50 and are on Tier 0. Your weekly fee is $0 again.
The Subscription Fee Schedule
So enough hypotheticals. What are you actually paying?
Below is the exact fee schedule for lenders in the UAE (as that is where Daggle is available for now), so you know exactly how much you would pay each week:
Tier 0 aka “Extra Change”: You earn AED 0 to <250, we charge AED 0
Tier 1 aka “Pocket Money”: You earn AED 250 to <500, we charge AED 50
Tier 2 aka “Petty Cash”: You earn AED 500 to <1,000, we charge AED 100
Tier 3 aka “Side Hustle”: You earn AED 1,000 to <2,000, we charge AED 200
Tier 4 aka “Make It Rain”: You earn AED 2,000+, we charge AED 400
These are our fees, and our fees are the bee’s knees.
A quick note, though, that fees may from time to time be updated, changed, modified, or increased without notice (though we prefer to give notice). Once we do, we’ll be sure to let you know and update the schedule here.
Another cautionary note: while Daggle doesn’t charge for transaction fees, third parties, such as banks or credit cards, might.
So try to borrow things using the funds in your Daggle account. That guarantees zero fee transaction costs. Learn more about this from our post on managing your Daggle balance.
Thanks for reading through this post. It’s an important one! Hopefully it’s all super clear (if not, do let us know!) In the meantime, happy Daggling!