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August 1, 20244 min readIf you were looking for PayPal money pools, you’ve now probably realised that it no longer exists. PayPal Money Pools was one of the most popular digital solutions to collect money online. It was one of the first online alternatives to old school “whip rounds” – remember that brown envelope that used to get passed around the office?
Fear not, in 2020 we created an alternative to PayPal Money Pools. And spoiler alert: it’s actually better.
Collection Pot is the fastest, easiest and most secure way to collect money as a group. Since we launched Collection Pot in 2020, over 100,000 Pots have been created. It takes less than 3 minutes to set up and anyone can pay into the Pot, without having to register.
Both Collection Pot and PayPal Money Pool set-out to solve the problem of group money collection. And while PayPal Pools were one of the first to get this going there was one overarching issue with the platform: everyone had to be a PayPal user to contribute. It was essentially a way to grow PayPal’s users. Which… well, is actually not very user friendly.
Collection Pot is a Paypal Money Pool alternative. But it’s also an improvement. We know that getting people to part with their money for a group collection can be tough work so the process of collecting needs to be super simple – and something that everyone, from your grandma to your boss, can access and use.
Setting up a new Pot using Collection Pot can be done in three minutes. It’s a simple platform that just about anyone can use. Say, for example, you’re collecting for your colleague Sarah’s leaving gift. This is how you’d do it:
Yes, Collection Pot is a safe and secure way to collect money as a group. Your money is held in a secure FCA regulated account and not accessible until the Collection Pot recipient is ready to spend or withdraw their funds. Since we launched in 2020, over 100,000 Pots have been created using Collection Pot and over 1,300 people have reviewed us on Trustpilot.
Elaine Keep is an accomplished content writer with over 15 years of experience in the field of marketing and content creation for many leading brands, where she shares her passion for research and helping others through her articles. You can also find her in 'mum mode', walking in the countryside or enjoying the dreamy combo of a new non-fiction book with a tea and chocolate bar to hand.
Collection Pot is a platform that allows you to create a fundraising page for any cause. Whether you’re raising money for a birthday, wedding, or a cause close to your heart, Collection Pot makes it easy to collect donations from friends and family.
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