Money pool paypal

You are viewing the PayPal Community Archives. This content may be old or outdated.

In November , PayPal shut down its money pools. Do you need something else to manage group money? Try Braid Pools. Customers had to navigate lots of screens and restrictions. Yes, you ended up with a money pool.

Money pool paypal

Money Pools was hidden within the PayPal app and was never really given the prime time treatment. In theory it should have been hugely successful, PayPal have a customer base of over million users worldwide that had instant access to Money Pools. So why are they closing it now? PayPal say that "This action will allow us to sharpen our focus on more specialized money raising services" which doesn't really tell us anything. My guess is that it simply wasn't used that much or driving significant revenues. By why did it fail? As we have found out on our journey of building Collctiv , user experience and simplicity is everything. Our aim with Collctiv is to make it incredibly quick and easy to collect money from a group of people. Anything that slows that down or stops it from happening needs to be stripped out or overcome. Money Pools always felt like it was a loss leader for PayPal, a feature to make customers use other PayPal services, it was never the main reason to use PayPal. Creating a Money Pool was a clunky experience involving 4 screens and creation restrictions that meant you could only use it for very specific collections. The process of paying into the pool was difficult as well with PayPal pushing you to create an account rather than focusing on the actual objective, to make a payment. You could pay as a guest, which involved even more screens, but there was no option to quickly pay with Apple or Google Pay, again adding to the friction experienced by anyone trying to use it. Money Pools was never the main focus for PayPal and felt like a secondary product that was created as customers demanded it rather than PayPal wanting to solve the problem of collecting money from your friends.

As the creator of a PayPal Money Pool, you couldn't actually contribute to your own pool.

Everyone, whether it's a family, friends, or a small organization, can benefit from having a slush fund. The only problem is that hardly anyone carries cash anymore. Fortunately, PayPal's "money pool" feature makes it easier than ever to manage and maintain these group discretionary accounts with your virtual money. Unfortunately, it's not easy to locate if you don't already know where it is. PayPal's "money pool" is a tool that lets you collect money from contributors.

Everyone, whether it's a family, friends, or a small organization, can benefit from having a slush fund. The only problem is that hardly anyone carries cash anymore. Fortunately, PayPal's "money pool" feature makes it easier than ever to manage and maintain these group discretionary accounts with your virtual money. Unfortunately, it's not easy to locate if you don't already know where it is. PayPal's "money pool" is a tool that lets you collect money from contributors. Compared to other features on PayPal, this one allows contributors to see how much money is in the fund they are contributing to. You can also set it up so that contributors can see who else contributed and how much. Money Pool is more transparent than PayPal. Me, which allows other users to send you money directly.

Money pool paypal

The ability to create new Money Pools will be disabled from 30 September, while existing Money Pools will be shut down from 8 November PayPal Money Pools are used to collect money from friends and family — for example, for group purchases or gifts. All new money pools currently have a day maximum expiry date.

Happy saturday gif

PayPal has announced that it is to close its Money Pools service, not long after Barclays Bank made a similar announcement re its PingIt service. All you need is a debit card to open a pool and invite others to join. If you use your money pool to collect funds from coworkers, friends, and family, etc. My Account Archives. Additionally, you can select whether or not people viewing the pool see the amounts collected so far. If you want to make a money pool for any other reason, click the button to continue making a money pool. Suggestions for PayPal. You are viewing the PayPal Community Archives. Those who collect funds for a charity or non-profit typically should have their account set up to receive donations. Paypal's money pool tool is a transparent and easy way to collect contributions from a group of contributors for any purpose. About PayPal Archives. From your main PayPal account, select Send and Request from the banner menu across the top of the screen, and then Request from the toolbar that appears below this banner menu. Search instead for.

Braid is the easiest way to pool money. Collect money with just a link, and manage it solo or together.

For example, you can set a minimum or an exact amount for contributions, or allow contributors to put in however much they wish. Say goodbye to PayPal fees. Your business is your own, but keep in mind what we said about transparency. Everyone else chips in, and once the pool has enough money in it, the Organiser can go ahead and buy or book the group item or activity. Search instead for. Braid has a clean design, a smooth set-up process, and a modern interface. Let us know what you're collecting for! With Braid, you can spend directly from the pool using your Braid debit card. Get the app. There's also a whole load more info over here that you might find helpful. Save alone or with others.