PayPal Collection Alternatives for Efficient Group Gifting
Ever tried collecting money from a group only to feel like you’re herding cats? At Thankbox, we get it. Effectively managing a PayPal collection pot can save you from endless follow-ups and awkward reminders.
However, after scouring PayPal's website, you've likely discovered the fate of PayPal Money Pools—they're gone!
Creating a Money Pool with PayPal is now a thing of the past. This beloved and widely-used service has sadly been discontinued. But don't worry, we're here to share the best PayPal Money Pool alternatives to help your collection run smoothly—keeping things simple, secure, and stress-free.
Let’s dive in!
Why was PayPal Money Pools discontinued?
If you've ever tried to organise group collections online, chances are you came across PayPal Money Pools. It was a handy tool for pooling funds, whether it was for a group gift, a charity event, or a shared expense. So, what happened to PayPal Money Pools? Why did PayPal decide to discontinue this feature?
Here’s a breakdown of the main reasons.
Evolving needs: PayPal noticed a shift in how people were using its services. As group collections became more popular, users started seeking more specialized features—like personalization options, easier sharing, and smoother tracking. With a surge in demand for platforms that can handle both contributions and unique touches, like group cards or personalized messages, PayPal Money Pools was no longer fully meeting users' expectations. This opened up opportunities for other platforms, like Thankbox, that offer those extra features people love.
Simplifying PayPal’s product line: PayPal has been refocusing its services to streamline its offerings, aiming to make the platform as intuitive and user-friendly as possible. With multiple products catering to similar needs, it became clear that consolidating some features would help improve the overall experience. PayPal Money Pools, although useful, was one of the features that didn’t fit neatly into PayPal's more streamlined vision.
Regulatory and security considerations: Handling pooled funds involves added regulatory and security complexities. PayPal faced growing challenges to ensure compliance with global financial regulations, especially for a service that involved multiple contributors and cross-border transactions. Rather than continue to tackle these complexities within PayPal Money Pools, the company chose to sunset the feature and strengthen its core services instead.
5 best PayPal Money Pool alternatives
While PayPal Money Pools may be gone, the good news is there are now more ways than ever to make group gifting simple, personalised, and memorable. Explore options that suit your needs, and enjoy making every group collection a fun experience.
Thankbox
Collctiv
Collection Pot
Braid
Splitwise
1. Thankbox
For a unique group collection experience with a personal touch, Thankbox offers group cash collection alongside a customisable e-card where contributors can add messages, GIFs, and images. It’s ideal for those times when a simple money transfer just doesn’t feel personal enough.
Thankbox elevates the experience by adding a personal touch and offering more flexibility. If you're organising a digital gift card, sending flowers, or planning a team event, Thankbox provides an all-in-one solution that combines easy cash collection with the joy of a group card.
Personalised group cards with cash collection: Unlike other platforms, which focus solely on money collection, Thankbox lets you create a beautiful group e-card alongside the contributions. This makes it ideal for occasions like farewells, birthdays, congratulations, or even just a thoughtful team appreciation gift. Contributors can leave personal messages, add GIFs, and even upload photos and videos, all while contributing to the fund. It’s a gift and a keepsake wrapped into one!
No hidden fees: Thankbox keeps it simple with no hidden charges for contributions, ensuring that every penny goes towards your cause or gift.
Easy-to-use: With Thankbox, you don’t have to worry about people getting confused by the process. The platform is designed for users of all tech levels, making it super easy to create a group e-card and collect cash from contributors. Plus, participants don’t need to create an account to contribute.
Automated reminders: You can set reminders for birthdays or work anniversaries so that nobody is ever left out and contributors know when they need to contribute.
Secure and transparent: Thankbox ensures that contributions are safe and secure. But with Thankbox, you also get transparency with a clear overview of the collected amount, making it easy to track progress and see how close you are to reaching your goal.
Pros
Great for people across different locations
Create meaningful e-cards along with your money collection
Our users appreciate the customisation options
We reduce the need for physical cards, contributing to environmental sustainability
Cons
Sending flowers and wine is limited to those in the UK
2. Collctiv
Collctiv is a group payments app that enables you to create 'pots' for various activities or purchases. Whether you're organising a group gift, planning a trip, or collecting for a charity event, Collctiv streamlines the process by allowing you to set up a collection pot, invite contributors, and track payments—all in one place.
Pros
Easy to set up your collection pots
Contributors don’t need to create an account
People can contribute using their Apple Pay, Google Pay, or digital wallet
Real-time tracking of contributions
Cons
Fees can apply to each payment received
3. Collection Pot
Collection Pot is an online platform that allows you to create a 'pot' for any occasion—be it a colleague's farewell, a friend's birthday, or a team celebration. You can invite others to contribute, leave personalised messages, and when the pot closes, the recipient can choose how to redeem the collected funds.
Pros
You can create various personalized pots with messages and themes
Your recipients have flexibility in spending the collected funds
You can keep the contributions private (as well as hide the total)
Feel free to change who the recipient of the money pot is at any time
No fees for contributors
Cons
Withdrawal options could vary depending on location
4. Braid
Braid makes pooling money effortless with simple shared links for collecting funds. No need for contributors to have a Braid account—anyone can chip in. Plus, you can spend your gathered funds seamlessly with a convenient pool debit card.
Pros
Easy setup and sharing of pool links
Contributors don’t need to create a Braid account
Instant notifications when someone contributes to the pot
You can have one or multiple admins to manage the collection
Cons
Availability of the pool debit card is limited
Experience Seamless Gift Collection with Thankbox
Is your money collection method not cutting it? Fortunately, with Thankbox you can quickly collect cash contributions to show appreciation for a colleague, no matter where they are in the world. Create a Thankbox today and boost your team collaboration!
5. Splitwise
Splitwise is perfect for keeping track of shared expenses with friends, roommates, or groups. You can easily log expenses, split bills, and see who owes what. It's especially handy for managing ongoing expenses rather than just one-off collections.
Pros
Ideal for managing shared expenses over time
Supports various currencies and expense categories
Calculate total balances in your chosen currency
Mobile app available
Cons
Not the best for one-time group collections
Best practices for managing a money collection for group gifting
When setting up a money collection pot, following a few best practices ensures a smooth experience for both you and your contributors. Here’s how to make group fund collection easy, secure, and organised:
1. Set clear goals and deadlines
Make sure everyone knows the purpose of the collection pot, whether it’s for a group gift, charity, or Employee Appreciation Day celebrations. Setting clear goals helps contributors understand what they’re contributing toward. Also, establish deadlines to keep the process on track and avoid last-minute confusion.
2. Keep everyone informed
Send regular updates to those contributing to the pot. It helps build trust and encourages others to chip in when they see how close the group is to the goal. Transparency also reassures contributors about where their money is going.
3. Simplify the contribution process
Provide clear and detailed instructions on how to contribute to the collection pot. Begin by outlining the steps involved, from accessing the online platform to making a contribution. Remember that not everyone is a tech wiz, so keeping the process simple and straightforward is essential to ensure no one feels left out.
Consider using step-by-step guides or visual aids, like screenshots, to assist those who might find it daunting. You can easily share the link to the collection pot via email or in chat groups, making sure to include any necessary passwords or access codes.
Encourage people to reach out with questions, and perhaps designate a tech-savvy person to offer additional support if needed.
Experience Seamless Gift Collection with Thankbox
Is your money collection method not cutting it? Fortunately, with Thankbox you can quickly collect cash contributions to show appreciation for a colleague, no matter where they are in the world. Create a Thankbox today and boost your team collaboration!
4. Track contributions and spending
Make sure to designate someone to monitor your contributions. This keeps you organised and allows you to share regular progress updates with the group. It also helps you stay on top of withdrawals, ensuring the funds are used correctly.
Choose Thankbox for efficient group gift collection
When you need more than just a basic way to gather funds, Thankbox delivers a thoughtful, fun, and engaging experience. It’s perfect for anyone looking to organise group gifts, charity drives, or team events where personalisation and ease of use matter just as much as collecting the cash.
Using Thankbox as your PayPal Money Pools alternative not only simplifies the collection process but also creates lasting memories that recipients can cherish—making it the ideal alternative for group gifting and event organising. Create a Thankbox today and watch your company culture flourish!
Images: Cover | Colleagues chatting
