PayPal Pools vs. Pool

PayPal no longer offers money pools

PayPal shut down its money pools feature in November 2021. Do you need something else to manage group money? Give Pool a try.

Pool is a modern money pool tool that's flexible, convenient, and free. This article breaks down the differences between PayPal vs Pool, and why people are happier with Pool.

PayPal Pools vs Pool: How easy are they to use?

PayPal was clunky Creating a PayPal money pool wasn't convenient. Customers had to navigate lots of screens and restrictions. Yes, you ended up with a money pool. But it had limitations, and it only met some of your needs.

Pool is approachable and easy to use Pool has a clean design, a smooth setup process, and a modern interface. Together, this lets you focus on what matters — your group money.

Pool is for multi-users, and PayPal was for single users

PayPal was for single users If you opened a PayPal money pool, you could collect and spend group money. But no one else could access funds, see transactions, or spend from the Pool. Yes, PayPal was a place for group money. But PayPal didn't create a space for the "group" — it was for single users.

Pool is designed for multiple users Pool is designed for collaboration. When you create a Pool, you can invite members, assign roles and permissions, and give the right people visibility into contributions and spending activity.

Members participate through their own Pool accounts, creating a more transparent experience for the entire group. Whether you're collecting contributions, tracking expenses, or managing shared funds, Pool makes it easier to stay organized together.

PayPal vs Pool: Who decides what your Pool is for?

PayPal only lets you fundraise for charity PayPal offers Generosity Networks as an alternative to money pools. But they come with significant drawbacks:

• Generosity networks are fundraising platforms for charitable initiatives
• Networks run for 30 days
• Networks have a fundraising limit
• You can only run one fundraiser at a time, or multiple fundraisers for the same charity

PayPal's Generosity Networks are useful for fundraising. But they make it impossible to collect money for shared rent, group gifts, or managing money with a significant other. And there's no flexibility in how you run your fundraiser.

Pool lets you decide what your Pool is for What do you need a Pool for? With Pool, you can create as many Pools as you need — and you can use them for just about everything.

People use Pool for everything from community savings, vacation funds, retirement gifts, classrooms, splitting rent, and group gifts. Pool can also smooth out delicate situations, like splitting bills with an ex or coordinating senior care payments with siblings.

Say goodbye to PayPal fees. Pool is free.

PayPal had fees PayPal money pools were free to open, but they came with fees. Everyone had to contribute extra money to cover these added costs.

Pool is completely free Pool is free to sign up, and there are zero service, monthly, or transaction fees. You keep 100% of what you collect and never have to factor in surprise fees.

How do Pool and PayPal rank for rules and restrictions?

PayPal money pools had many rules PayPal's strict rules made its money pools inconvenient. If you started a Pool, you couldn't add money — but you had to manage everything else on your own.

On the flip side, if you joined a Pool, you could only send money. You couldn't do anything else. PayPal also had pool deadlines, making it an all-around inconvenient choice for group money.

With Pool, it's your Pool, your rules Pool is incredibly flexible. All you need is a Pool account to create a Pool and invite others to join. Once members have signed up and joined the Pool, they can contribute funds from their linked bank accounts. Everyone can contribute, manage, and spend with the other Pool members. There are no deadlines, no expiration dates, and no pressure.

Is it easier to spend with PayPal vs Pool?

There were limitations to spending PayPal pool money If you created a PayPal money pool, you were the only person authorized to spend funds — either with your PayPal account or your bank account.

If you want anyone else to spend group money with you, you must first transfer funds to them. It's a time-consuming step that slows down group finances.

Spend funds easily with your Pool debit card With Pool, you can spend directly from the Pool using your Pool debit card. Other Pool members can have their own Pool debit card, too. This way, you're not the only one responsible for collecting and spending. It's a group effort.

Pool: the modern solution for group money

PayPal no longer offers its money pool feature, leaving many customers without a money pool tool. The silver lining? Now, you can use Pool instead. With Pool, your group money is flexible, convenient, and transparent. Sign up today at poolmoney.com to improve your money pooling experience!