Use a Pay­pal group to col­lect money

What you need: Any web browser Time re­quired: 15 min­utes

Computer Active (UK) - - Contents -

On­line-pay­ments sys­tem Pay­pal has launched a new fea­ture called Money Pools. You can use this to cre­ate a group and se­curely col­lect money from your fam­ily and friends. It’s ideal for con­tribut­ing to shared ex­penses like a

group trip, group gift, spe­cial event, or to help some­one in need. We’ll show you how to cre­ate a Money Pool for a 70th birth­day gift on your PC. You can fol­low the same steps by in­stalling the free Pay­pal An­droid or IOS app.

STEP Go go www.pay­pal.com, click Log In at the top right 1 and log into your ac­count. If you don’t have an ac­count, then click the Sign Up but­ton at the top right to cre­ate a free one (you’ll be prompted to link your bank ac­count to it), oth­er­wise log into your ex­ist­ing ac­count. On your Pay­pal home­page, you’ll see op­tions to add an­other bank ac­count or card if you want 1 . Here, you’ll see the new Money Pools sec­ti­ion 2 . Click Start Col­lect­ing 3 , then click ‘Cre­ate a Pool’ at the top right.

STEP Now give your pool a name 1 , set the goal amount 2 2 and a date when the pool closes 3 (the lat­ter two are op­tional). By de­fault, ‘Show the amount you’ve col­lected’ is ticked 4 , but you can untick this if you want to hide it. Af­ter fill­ing in th­ese de­tails, click the Next but­ton 5 . On the fol­low­ing screen, you need to se­lect one of three op­tions to set what con­trib­u­tors can pay: any amount, min­i­mum amount, or an ex­act amount. At the bot­tom, you’ll see two tick­boxes: to show/hide con­trib­u­tors’ names and show/hide the amounts they’ve con­trib­uted. Click Next when you’ve fin­ished.

STEP You’ll now see the op­tion to add 3 a cover photo 1 and a de­scrip­tion to your pool (use­ful to ex­plain why you’re col­lect­ing money) 2 . Click the Pre­view but­ton 3 to see how your Money Pool web­page looks. If you need to make changes, click the ‘Edit de­tails’ link at the top left. When you’re happy, click Pub­lish at the top right, then click ‘Agree and Pub­lish’. You’ll now get a link to the web page that you can copy and email to your fam­ily and friends. They can con­trib­ute to your Money Pool us­ing their Pay­pal bal­ance, debit card or bank ac­count (on PC or phone). Fees ap­ply if they use their credit card or if send money from abroad. Upon reach­ing your in­tended goal amount, you can trans­fer the money into your bank ac­count.

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