How to Set Up and Use PayPal Money Pool Feature – PayPal money pool enables you to create a page where people can easily contribute money. Anyone can benefit from having a slush fund, be it a friend’s family, or a small organization the only problem is that it is rare for people to parade with cash.
However, the PayPal money pool makes it a lot easier than ever to manage and maintain these group discretionary accounts with virtual money. Unfortunately, it is quite difficult to locate if you don’t know where it is already.
The money pool is a tool that allows you to collect money from contributors. The money feature allows contributors to see how much money is in the fund they are contributing. You can also set it in a way that contributors can see who else contributed and how much.
The money pool is more transparent than PayPal.me. PayPal.me allows users to send you money directly, the transparency of the money poll makes the use cases potentially different if you are receiving money for a particular reason, your contributors will be able to see how much has been contributed.
How to set up a PayPal money pool
- Select send and request from the banner menu, at the top of the screen, from your PayPal account
- And then request from the toolbar below the banner menu
- To get started, click here on the right side of the screen towards the column option, this column is a link to create a money pool.
You will get a pop notification from PayPal suggesting that you make an account for charity, if that is your reason for creating a money pool account follow the redirect.
- However, if you are creating money pool for an entirely different reason click the button to continue creating money pool.
- You will land on a page explaining the friendly three stage infographic of money pool
- In the upper right corner of the window, select the tiny create a money pool button
- Provide a name for the money pool
- Set a specific goal amount
- Provide an end date
- Select if you want people viewing the pool to see the amounts, contributed so far.
You can also set how much information is displayed on pool contributors; they can still contribute Anonymously if they wish.