PayPal Money Pools lets you lean on friends to raise money — or get paid back

By on November 13, 2017
Paypal Money Pools

PayPal ,the old standard in online payments, has released a new feature that caters to groups of friends and/or family, but will focus on pooling money for group gifts or even trips.

PayPal’s 2017 Holiday Habits Study showed most Americans feel anxiety and stress when it comes to holiday shopping. “Money Pools” allows users to track of everyone’s contributions for what we assume is to keep financial countability or to make sure everyone pays their fare share of grandma’s holiday gift.

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Users can select multiple ‘Money Pools’ each pool can be personalized by setting a goal and a deadline, as well as typing in a description of what gift you’re buying or what you’re collecting money for. If you want to spruce it up even more, you can add a cover photo. And depending on what it’s for, you can choose to make contributor names public or to keep them private.

Money Pools allows users to send other pool members to monitor everyones contributions and send not-so-subtle reminders with a link to it via text, e-mail, Facebook or Twitter, which saves group members from the annoying task of asking other pool members to pay their portion.

The MaxWrapUp consensus is PayPal’s Money Pool is a magnificent convenience for the “responsible” person in every family or friendship and a total “nuisance” for the family flake.