Raise funds in a Paypal Money Pool
Paypal is closing one of its best hidden features. Called Money Pool, it lets you set up a up a fundraising page and share it with supporters via email, Whatsapp or social media.
It’s free when transferring money between UK accounts, though Paypal charges for international payments, and its exchange rates may be applied to currency conversions. You’ve got until 30 September to set up a new money-raising page, before the service closes for good on 8 November. If you don’t transfer the money you’ve raised by then, Paypal will do it on 15 November (read more at www.snipca.com/39059).
Set up your pool
You’ll need a Paypal account, as will the people who donate to your cause – sign up for one at www.snipca.com/38985 (it’s not available for business accounts, only personal ones). Click ‘Next’ and finish the setup process, which includes entering your mobile-phone number (you can’t avoid this).
Log into your Paypal account, then visit www.snipca.com/38986 and click the ‘Start a Pool’ button at the top. On the page that opens, click the blue ‘Start a new fundraiser’ button at the top right.
You’ll now be directed to the ‘goal’ page. Give your pool a name so donors know what it’s for. If you have a specific amount you’re looking to raise, enter it in the box – or leave this blank if you want to raise as much as possible. You can also add a date by which the pool will close.
In the interests of transparency, you can let visitors to your page see how much you’ve raised to date, though you can hide this by unticking the box next to ‘Show the amount you’ve collected’. Click the blue Next button.
You can now set the amount donors can pay – this can be any amount, a minimum, or exact ( 1 in our screenshot below left) – and whether their details should be shown 2 . By default, the pool will show a person’s name and the amount paid, but you can turn one or both off. Even if you opt to display the details, contributors will be given the opportunity to chip in anonymously should they prefer. Click Next.
Design your pool page
Now it’s time to design your fundraising page. Click the ‘Add a cover photo’ link at the top if you want to upload an image or logo (we’ve chosen a design for a summer fete – see screenshot above). Alternatively, select a different background colour. If you're including text, make it large so it can be read clearly on phones and tablets.
Next, enter a description of what you’re collecting money for and how it will be used. Click the Preview button below to make sure you’re happy with your description and how it looks.
The preview page shows your image/ background colour, title, and who is managing it (the person who set it up), as well as the all-important description of the fundraiser. If you’re happy with it, click the blue Publish button at the top. On the next page, click ‘Agree and Publish’ to create your pool.
Click the blue Share Pool button and you’ll be provided a link to it. You can copy this and share it by any means – including Whatsapp, your club’s website or social-media pages. There are also icons for sharing it on Facebook, Facebook Messenger and Twitter.
Once the pool has been created you’ll be able to view it at any time by clicking its link or via your own Paypal page. To donate money, members need to click the Contribute button (see screenshot above). If you want to make changes or add extra information, click the Manage Pool button on your page and then click Edit Pool. You can change the page cover image and description, add a goal amount, set a closing date, and manage contributions. You can also delete the pool here when you no longer need it.