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MANONG's PALUWAGAN CIRCLE

Filipino UK Nurses x Bloom Money
Tara! Let's achieve your financial goals this 2025!
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G ka? Join ka? Tara?

Frequently Asked Questions:

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  • What is a paluwagan?

    • It's our own version of Money Circle. According to Filipino Business Hub, a paluwagan is a traditional Filipino savings system that has been integral to the Philippine culture for generations. The term Paluwagan is derived from the Filipino word “luwag”, which means “to loosen” or “to free up”. When translated into English, Paluwagan can be understood as a “rotational or cooperative savings system". Watch this video to see what a paluwagan on the Bloom Money app looks like!​

  • How many members in each circle and how many circles are there?

    • We will have 5 circles, each with 6 members each. Each circle will be led and facilitated by one of the admins of Filipino UK Nurses community. Depending on the success and feedback, we may add few more circles. Members who are not selected to join the paluwagan circle will be referred to Bloom Money. They can assist and support you in forming your own circle.

  • How are members chosen for a circle?

    • All who will apply will go through a strict vetting process from verification of identification and documents and interview. We need to ensure that all who will be joining has the capability and willingness to pay the monthly paluwagan share.​ We may also consider the timing or who came in first especially if we receive lots of applications.

  • When will the paluwagan start and end?

    • The 1st cycle of paluwagan will start this January 31 and end on 30 June 2025. 

  • When will I expect to know if I'm part of the circle?

    • We will contact those who are included in the next 2 weeks and start onboarding the chosen members. We will start with the 1st paluwagan cycle on 31 January 2025. 

  • How much is the monthly contribution?

    • We've set the monthly contribution to be £100 for 6 months. This means that a member will receive £600 on their assigned month (including their share). The first month will be free of charge. Starting from the second month, each member of the circle will be charged 4% of their monthly payout. For example, if the monthly payout is £100, the fee will be £4 per month from months 2 to 6.

  • Who will keep the money? and facilitate transfer?

    • We will be using Bloom Money. They will be verifying the identification of each of the members and facilitating collection of money. With strong in-app security measures, it’s safer, faster, and easier to manage money, make contributions, and ensure pay-ins and payouts are received on time. More information about Bloom Money can be found on their website and FAQ support page.

  • Will my data be shared with others in the group?

    • No, your bank details will only be kept and verified by Bloom Money. Manong George team will do their separate vetting process and may involve verifying few personal details to minimise risk of failed payments/missed paluwagan contribution. 

    • Your name and contact number will only be shared  to your circle. A whatsapp group will be created for each circle.

  • What if i want to leave the circle in the middle of the cycle?

    • We hope everyone can stay for the whole cycle. But if you need to leave, your remaining balance will need to be cleared. Should this be the case, please reach out to us to discuss your options.

  • Can I form my own circle?

    • Yes, definitely! Just download the Bloom Money app, create a circle and invite your friends. The Bloom Money app is available on both App Store and Google Play Store. 

For any more questions or information, feel free to contact us via info@filipinouknurses.com, or the Bloom Money team via email at help@bloommoney.co or use the chat feature on their website.

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