Collection Pot: The Best Alternative To PayPal Money Pool

If 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.

Ready to start collecting? Set up a Collection Pot. 

How does Collection Pot compare to PayPal Money Pool?

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. 

So, how does Collection Pot work?

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:

  1. Set up a pot for Sarah’s leaving gift, write a description of what the pot is for those who you’re hoping will contribute and then set a deadline date and time for when the pot will close. This could be the hour before her leaving drinks to leave the maximum enough time to collect money. 
  2. Send the link via email, text or Whatsapp to anyone you think might want to contribute to Sarah’s leaving gift. You can use our tried and tested email template to make things easier.
  3. Once the pot closes automatically on your deadline time, it’s over to Sarah to spend it! Say your colleagues generously gave £200 in total. Sarah can decide to withdraw this as a bank transfer to spend on what she wants, or she can choose from a gift voucher from over 60 retailers or decide to donate it to a charity of her choice.

Is Collection Pot safe?

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 redeem their funds. Since we launched in 2020, over 100,000 pots have been created using Collection Pot and over 800 people have reviewed us on TrustPilot. 

Ready to get collecting? Join thousands of people already using Collection Pot.