How your money will be protected
The short version: when bank-held pots launch, the pot will live at a bank - and Heldly will never touch it.
The pot will be held at a bank - not by Heldly, not by your commissioner
When bank-held pots launch, buy-ins will go straight to an account at a partner bank, held for the benefit of your league's members. The money will never be on Heldly's balance sheet, and Heldly won't be able to withdraw it. Nobody in your league will have to trust one person with everyone's cash.
Only the bank will move the money
Payouts will happen when at least 75% of members approve the final result. Heldly will report the vote to the bank; the bank makes the payment to the winners. Heldly will keep none of the pot and none of the interest earned while it sits there - our only charge is the flat software fee, billed separately.
Full refund if the pot doesn't go ahead
If a league doesn't fill, the organiser cancels, or it can't be settled for any reason on our side, the bank will return 100% of every buy-in - and Heldly will refund its software fee. No questions, no forms.
Dispute protection
If members can't agree on a result, nothing will move - the vote threshold won't be met, so the bank won't pay anyone. If scoring data isn't available at settle time, the pot will auto-extend or refund. We will never pay out on bad data.
Common questions
What counts as the pot "not going ahead"?
Minimum entries weren't met by the deadline, the organiser cancels before the first scoring event, the underlying competition is cancelled, or a technical issue on our side prevents settlement.
Do I get the Heldly software fee back too?
Yes. On any refund covered by this page, you get 100% of what you paid - your full buy-in from the bank-held account, plus your Heldly software fee back from us.
Does Heldly earn interest on the pot?
No. Heldly keeps 0% of any interest earned on pooled funds - permanently, by design. We are paid for the software, never by the money.
What if the organiser disappears?
Funds aren't held by the organiser - they're at the partner bank, held for the members' benefit. The organiser has no ability to withdraw the pot to themselves. If they go silent, members can trigger a refund or appoint a replacement organiser by vote.
How long do refunds take?
Refunds are processed automatically back to the original payment method, typically within 5 working days depending on your bank.