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Protecting Your Data

FAQs

SAFETY AND SECURITY

This depends on the delivery method selected by the lender. The lender can choose to meetup and exchange the item in person, or use shipping.

In some instances a lender will be open to changing the delivery method set for their item so if you would like to select the alternative method, please discuss this with the lender before confirming your booking.

Hand over in person You should arrange the meetup details for the delivery of an item using the messaging feature in Fainin. If you are having difficulty arranging this and need to involve Fainin, please contact us directly at contact@fainin.com.

By mail delivery A shipping label will be provided after selecting the required details in the app. An estimated shipping time should be provided to you by the seller when confirming your booking, often it takes 3 working days to received an item. Note that the shipping time will depend on where the item is being shipped from and to. If you haven’t received the item by the expected delivery date please get in contact with the lender to check the status, or check the shipping tracking number provided to you in the app.

If you are still having problems locating an item, please contact fainin directly at contact@fainin.com.

Trust, safety and security is an important aspect of the Fainin community and that’s why we’ve designed Fainin with all three points in mind. Here are just some of the measures we take to ensure your safety and security:

Profiles: All Fainin users have a profile, it’s their face in the community. To borrow or lend an item users are asked to provide a range of information to ensure they are who they say they are, including verified contact details and government ID.

Secure messaging: The messaging feature enables users to discuss items and booking details before confirming a booking and stay in touch once a booking is confirmed to coordinate delivery details or if a user had questions about the item. All communication should be conducted within the messaging feature to ensure the booking is covered by the insurance provider.

Secure payments: Our platform securely handles all payments between borrowers and lenders. Users should always make payments via the platform to ensure the booking is covered by the insurance provider.

Reviews: Borrowers and lenders can review each other after a booking period has been ended and the item has been returned to the lender. Reviews are part of a users public profile and can help potential borrowers decide if a product is right for their needs.

Scam protection: By always communicating and paying via the Fainin platform you are protected by our safety and security measures and most importantly the insurance coverage.

Together, these actions define Fainin's Design-For-Trust.

In the rare case of an incident, insurance provides coverage of up to €15.000 for both lenders and borrowers. The insurance also includes coverage in the event of a third-party claim of bodily injury or damage related to an incident involving an item borrowed on Fainin.

To ensure your item is covered by the insurance, you should ensure your listing is as accurate as possible. For example your listing should:

  • Include as many details about the item as possible including the model number, purchase date, and a written description of the condition.
  • Add details photos and/or videos of your item to show it’s exact condition.
  • Keep your listing updated as your item ages.

The insurance provided does not cover normal wear and tear on your item. For example, a bicycle lent for a one month period which is returned with a new scratch or worn out brakes would be considered normal wear and tear.

Please note that there are some items which we cannot insure, so although they can be borrowed/lent on Fainin, the insurance does not cover these bookings. These items include:

  • Mobility vehicles (e.g. Cars, motorbikes, motorized scooters, buses, trucks, vans, etc.)
  • Boats
  • Drones above 5kgs
  • Property (e.g Apartments, houses, etc.)

We will be soon introducing new insurance policies to cover the above mentioned items.

FOR LENDERS AND BORROWERS

Hand over in person

You should arrange the meetup details for the delivery of an item using the messaging feature in Fainin. If you are having difficulty arranging this and need to involve Fainin, please contact us directly at contact@fainin.com.

By mail delivery

A shipping label will be provided after selecting the required details in the app. An estimated shipping time should be provided to you by the seller when confirming your booking, often it takes 3 working days to received an item. Note that the shipping time will depend on where the item is being shipped from and to. If you haven’t received the item by the expected delivery date please get in contact with the lender to check the status, or check the shipping tracking number provided to you in the app.

If you are still having problems locating an item, please contact fainin directly at contact@fainin.com.

Absolutely! We encourage you to list your items on Fainin as there are many benefits which include bookings being covered by the insurance provided by Fainin as well as the exposure of your business to a whole new set of customers.

We are currently developing business accounts which will include additional admin functions to help managing your bookings. If you would like more information please contact us at contact@fainin.com.

There are a few items which are prohibited from being lent/borrowed on Fainin. These items include:

  • Guns, firearms and weapons of any kind
  • Drugs or chemicals of any kind
  • Real estate or property
  • Human Beings
  • Animals

Please note that there are some items which we cannot insure, so although they can be borrowed/lent, the insurance provided by Fainin does not cover these bookings. Please check Fainin's insurance fact-sheet to understand which items are not insured.

If you are expecting an item to be returned, but the borrower has not indicated that they have shipped the item. Contact him directly and ask for clarification. If he is not responding to your messages, please involve Fainin directly by emailing contact@fainin.com. Make sure to email us using the email you used to sign-up. If you have signed up using Facebook or Gmail, then use the email connected to your account. Please include your booking ID and tell us what happened, we’ll be there to help!

Extending a booking If you’d like to borrow an item for a longer period you can create a new booking for the extended date range and then go through the booking process that you're used to.

Shortening a booking If you need to shorten your booking, you should discuss your request with the lender. Once you and the lender have agreed on the terms, payments are automated, but not set in stone! Please contact us directly via contact@fainin.com, so we can process any required refund. Keep in mind that service fees will not be reimbursed.

Cancelling a booking Lender and borrower can decide to cancel a booking. If either party decides to cancel an accepted booking, they should first discuss it with their transaction-partner. Once agreed, the party who has initiated the cancellation should email us via contact@fainin.com, so we'll be able to process the refund to the borrower. Keep in mind that service fees cannot be reimbursed.

We will be integrating new features to manage extensions, shortenings or cancellations of bookings soon. When sending E-Mails to us, please make sure to use the linked E-Mail-address to your Fainin account!

Your item should be returned the same way it was delivered to the borrower.

Delivery method: Meetup You should arrange the meetup details for the return of an item using Fainin's chat. If you are having difficulty arranging this and need to involve Fainin, please contact us directly at contact@fainin.com.

Delivery method: Shipping (coming soon) A return shipping label is included when selecting the shipping method. Simply attach the return label to the packaged item and deliver the package to your nearest package collection outlet.

PAYMENTS

To check your payout history, open the app and select the ‘More’ option. Open the payment history tab. Here you can see the payout history for any of your incoming and outgoing payments.

A borrower is charged via their selected payment method once a lender accepts the booking request.

The payment is then held in Fainin's admin account and will be released to the lender when the borrower has confirmed that they have received the item.

RESERVATIONS

A 15% service fee is charged to borrowers and lenders when a booking is confirmed. These costs include the payments for all trust-causing features on Fainin's platform.

The fee is calculated based on the booking subtotal and it's automatically deducted from the lender's payout.

Fainin will release your payout once a borrower has confirmed that they have received the item.

The time it takes for the funds to arrive in your account depends on your payout method. The average processing time is between 1 – 7 business days. Please be aware that many banking systems do not process transactions on weekends or holidays.

If the borrower and the lender agreed to meet in person for the item's delivery and the borrower doesn't show up, Fainin's will consider the rental ongoing and it will charge the borrower's full rental fee.

The borrower will automatically be notified before the rental period ends. If the borrower doesn't return the item at the end of the rental agreement, the lender should contact him immediately since there could be a reasonable explanation for the delay. If the borrower can't be reached, the lender should involve us via contact@fainin.com. We are happy to help you starting the procedure of an insurance claim or a preliminary investigation.