SAVE MONEY.
RENT DON'T BUY.

Freer is a community platform that allows lenders and renters of every-day items to share items between themselves; reducing consumption, making money for Lenders and saving money for Renters. Communities are stronger when they cooperate and work together. Freer believes almost anything you want to use already exists in your community.

Rentals can be paid for in a number of ways. If there are sufficient funds in the Freer Wallet this is used as a primary source of funds. This can be topped up using a debit or credit card. Renters can also pay for items directly using a debit or credit card or select to use their Paypal account.

Item bookings can be cancelled up to 48 hours before the rental is due to start with no penalty. Bookings cancelled within 48 hours of the start of the rental or during the rental period will incur the full booking fee. Please contact the Lender as soon as possible if you wish to cancel. Cancellation of the item reservation, the “Rental” by the Lender within 48 hours may incur a penalty fee equal to 50% of the total Rental charge. Please see Ts and Cs for full details on fees for rental cancellations by both the lender and the renter.

To make transactions between lenders and renters easier, Freer has created a ‘digital wallet’. This wallet displays your balance that can be used to rent items on Freer or the money you have earned from lending products. For details on the operation of the wallet see section 5 of our Terms of Use

Money can be added to or withdrawn from the wallet. Top ups to the wallet can be made using a debit or credit card. Withdrawals can be made to a Paypal account using the email address associated with that Paypal account.

Whilst the wallet displays the balance, funds are held securely in the Freer Bank account (with a Global Banking partner) and are not used by Freer to fund its business. You are free to withdrawal funds at any time.

When an item is rented, the funds are in a ‘pending status’. Once the item is approved by the Lender the funds are transferred to Freer until the rental takes place. If the Lender declines the pending status is cancelled in the Renter's wallet. Transactions of top-ups, withdrawals, payments and deposits are clearly displayed in the summary.

Funds are deposited into the Lenders wallet when the item is collected by the Renter.

To keep the platform safe and secure for lenders and renters the wallet has some restrictions. These can be found in the Terms. These are summarised as follows.

1. Wallet users need to have been verified. This to satisfy Anti-Money Laundering requirements and is part of our registration with Financial Regulators.

2. The maximum withdrawal is £250 per day or £1000 per month.

3. For renters you need to have undertaken at least 3 rentals and have a rating review score of 4.3.

4. The maximum payment for a rental with a wallet is currently set at £50 per day.

Freer charges a service fee to both the Lender and the Renter. This amounts to 10% of the transaction charge for both the Lender and the Renter. We have the costs of maintaining the app, are charged for the identification and verification process and each financial transaction.

Trust and community are at the heart of the Freer platform. We encourage Renters and Lenders to undertake our identity verification process before they rent or lend items through Freer. We work with our identity verification partner (Yoti) to ensure Renters and Lender are who they say they are and give you peace of mind. However, we also understand that not everyone wants to undertake this process so we clearly mark where a Lender or Renter is verified (has gone through the process) and where they have not. You can see this on their profile and the products they are lending. Likewise, Lenders can see when a renter is not verified and in turn may chose not to rent to that person. There is no issue if you do not want to rent to someone who is not verified. We would also strongly suggest that you ask non-verified members to bring a valid identification and ensure you take pictures of the product and person together.

If you do not feel safe picking up or returning an item, or having someone come to your house to collect, please contact the Renter or Lender and request a mutually convenient collection or drop off location. You should not feel under any pressure to go to a specific location to commence a rental. If you feel you are being pressured cancel the rental and inform Freer at admin@freer.com 

Renting awesome items on Freer is easy - follow these steps:

1. Search for items in the app using the search bar or viewing items by category.

2. You can also use the map to find items near you.

3. Save it to view later or read on to start the rental process

4. Set the dates you want the item and confirm

5. Click Rent, next the total cost of the rental will be shown. If you are happy to go ahead, click Book to send your rental request to the lender

6. You will then be taken to the payment page using the Freer Wallet. You can pay using the wallet or by using a credit or debit card.

7. Your booking is Pending until confirmed by the Lender, once the booking is paid for and confirmed the lender’s details will be shared with you and you arrange to pick up the item.

The research Freer conducted suggested 80% of items people want to use already exist in their community. Imagine not having to buy an item again to use something; simply make a request to the Freer community. To make a request complete the Freer Request form. This will be published on the app for other members to review. If a member has that product they will get in touch via the app and you can then rent that item as you would a normal rental.

In the same way as Freer does not allow all items to be listed and has a prohibited items list then this also applies to requesting items.