PayPal money pool

Fliss_M

Hi guys. Not sure if this is the right place so apologies if not. 

I got an email from PayPal telling me they were closing money pools. During the pandemic this has been an excellent tool my office have used for doing collections for leaving, weddings etc. 

I also utilised it for my daughter's PTA raffle this year. So I was hoping to use it next year when she'll be back to going door to door to sell the tickets. (we knock on different doors every year so not to harass anyone) 

Can anyone suggest an alternative we could use? Seems just as we've discovered something so useful, it's been removed 🙄

born_again

Set up a charity/company paypal account.

Our dog breed charity uses a paypal account. Which is under their charity name.

Perelandra57

Hi @Fliss_M I use Collctiv (collctiv.com) for office collections - it's so easy as you just send a link round and everyone just taps to pay into the pot, they don't have to create an account or anything. And I think it would work for your PTA collections too as each pot has a unique QR code, so if you're knocking on doors people can scan it to pay into the pot. Hope that helps!

Zanderman

Perelandra57 said:

Hi @Fliss_M I use Collctiv (collctiv.com) for office collections - it's so easy as you just send a link round and everyone just taps to pay into the pot, they don't have to create an account or anything. And I think it would work for your PTA collections too as each pot has a unique QR code, so if you're knocking on doors people can scan it to pay into the pot. Hope that helps!

That's an interesting-looking service, though the website has very little obvious detail, other than suggesting one downloads the app. And states nothing upfront about any costs.  

Their support pages say a little more, where they have this statement for personal users (https://www.collctiv.com/support/how-much-does-it-cost-to-use-collctiv): 

When you come to withdraw the money in your pot, there is an optional fee of 2%. There is also an optional fee of 5% on the payments that come into the pot from your friends & family.

And this statement for clubs etc (https://www.collctiv.com/support/how-much-does-it-cost-to-use-collctiv-as-a-club-or-team):

• If you are using the Collctiv app for your club or team, there is a fee of 3% + vat on each payment received.
• If you are using the Collctiv platform for your club or team, there is a fee of 6% + vat on each payment received.

Their take on the Paypal changes are on their blog at https://www.collctiv.com/blog/paypal-is-closing-its-money-pools-service and they are clearly hoping to pick up more users following the paypal decision.

(btw Perelandra57 may be just a happy customer, but I notice that he/she joined this forum, and (on the same day) Reddit, just to make a single post, worded very similarly on both sites.)

Zanderman

Other possibilities include (on a very quick search):

https://www.collectionpot.com/

and 

https://www.splitwise.com/

I'm sure there are probably others.