PayPal Money Pool is a tool to collect money for a group for different purposes, whether that be for a group gift or splitting the bill at dinner.

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It shut down in 2021, but relaunched in 2024. 

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PayPal Money Pool is very simplistic and is a sort of catch-all for different money collection purposes. But if you have a specific need, there are plenty of other tools that could fit the bill better.

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Rather than listing dozens of similar apps, this guide focuses on three PayPal Money Pool alternatives that each excel in a specific area: group gifting, splitting one-off costs, and recurring shared expense tracking.

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TL;DR

PayPal Money Pool is a great tool, but it tries to be lots of things at once - group gifting, honeymoon funds, splitting bills and regular expense tracking. There are plenty of alternatives which are superior for different use cases.

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Best for group gifting - Givetastic

Givetastic offers a dedicated group gifting experience, which PayPal does not. It’s 100% free to collect money and send as gift cards, alongside a group eCard.

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Best for splitting one-off shared costs - Collctiv

Collctiv is very similar to PayPal Money Pool but is more flexible. It’s free to collect money and withdraw via bank transfer.

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Best for splitting regular expenses - Splitwise

Splitwise is best if you have recurring shared expenses, like rent and utilities. You can set up recurring expenses and easily track who has and hasn’t paid.

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Best for honeymoon funds & wedding cash registries - Givetastic

Givetastic allows you to collect cash wedding gifts for free on custom collection page. You can cash out to your bank or buy gift cards, and thank your guests all in one place.

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Quick PayPal Money Pool alternatives comparison table

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Best for group gifting - Givetastic

If you’re organising a group gift, Givetastic is a fantastic alternative to PayPal Money Pool.

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With Givetastic, you can collect gift money and messages on a shared eCard (with optional printed card upgrade), then send the funds directly to the recipient as gift cards, bank transfer, or a combination of both.

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With PayPal Money Pool, the collected money is sent via PayPal. For some users, this feels a bit clunky as the recipient needs a PayPal account to access the funds. Alternatively, the organiser has to withdraw the money themselves or spend it using their own PayPal balance.

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Givetastic offers a much more dedicated group gifting experience, designed specifically for collecting money, messages and delivering the gift smoothly to the recipient.

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Why people choose Givetastic:

• Free to collect money and send gift cards.
• Recipients can receive gift cards or bank transfers payouts directly.
• No PayPal account required for the recipient.
• Includes a collaborative group eCard experience.
• Option to upgrade to a printed physical card.
• Cleaner delivery experience than sending a PayPal balance manually.

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Best for splitting one-off shared costs - Collctiv

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If you’re looking to split the cost of a meal out, concert tickets, or set up a shared pot for group holiday expenses, Collctiv is a great choice.

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With Collctiv, you set up a pot with a closing date, a target if you like, and extra information about what the collection is for. Then you share it with others via URL or QR code.

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It’s very similar to PayPal Money Pool in that you don’t need to share your bank details or pay for bank transfer to your account. It is better though since you pay no contribution fees, you can send it to someone else’s bank account directly, and you can spend the money on gift cards too. It is more functional than gift-focused, so it’s better for practical collections rather than celebratory occasions.

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They ask for an optional 2% tip at the checkout to help cover platform costs.

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Why people choose Collctiv:

• Free to collect money, send gift cards, and do bank transfers - 2% optional tip.
• Can withdraw to your own bank account or transfer to someone else’s.
• Simple to share the collection page via URL or QR code.
• No need to share your bank details.

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Best for splitting regular expenses - Splitwise

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If you have regular shared expenses to split with flatmates or teammates, Splitwise is a great tool for the job. 

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It is app-based, so you will all need the app if you all want to track the shared expenses. Splitwise allows you to create separate shared expenses, note how much they cost and who owes what. It helps you keep track of who has and hasn’t paid.

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A PayPal Money Pool is only allowed to stay open for 6 months, so Splitwise is better if you have long-term shared financial commitments. There is a free and paid version of the app, and since the recent updates, many reviewers have commented that the free version is very limited. If you just have a few shared expenses like rent, gas and electric, and groceries, then it should work just fine.

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Why people choose Splitwise:

• Easy to track balances and who owes what.
• Create groups to track different types of expenses (e.g. flatmates, football team).
• Flexible - split by % or shares, equal and unequal splits.
• Create recurring expenses.

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Best for honeymoon funds & wedding cash registries - Givetastic

Givetastic makes it easy to collect money for a honeymoon, house deposit, or wedding fund in a way that feels much more personal than simply sharing a PayPal link. As well as being a great tool to organise group gifts, Givetastic offers a “collection only” service which is perfect for engaged couples.

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Instead of a basic payment page, you can create a custom collection page for your wedding or honeymoon fund, complete with your own message, photo, and personalised link or QR code to share with guests. It’s designed specifically for modern cash gifting, making it feel more thoughtful and celebratory than a standard money transfer.

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There are no guest contribution fees, and couples can receive 100% of the collected money when redeemed as gift cards from over 120 retailers including John Lewis, IKEA, Hotels.com, TUI, and more. If you’d prefer to withdraw the funds to your bank account instead, a 4.5% bank transfer fee applies.

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Unlike PayPal Money Pool, Givetastic also includes a built-in thank you manager, making it easier to keep track of guests and send thank you messages after the wedding or honeymoon.

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Why people choose Givetastic:

• Beautiful custom collection page tailored to the couple.
• No chasing contact details - send and track thank you notes to guests from one place.
• No guest contribution fees - keep 100% of the cash gifts when you buy gift cards.
• No need to add specific products to a registry - ready to collect cash straight away.
• Private by default - no public running totals or message boards.
• Download guest messages to keep forever.

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Ready to try a better alternative to PayPal Money Pool?

PayPal Money Pool tries to cover lots of different use cases at once, from group gifts to bill splitting and shared expenses. But in practice, dedicated tools tend to work much better.

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If you’re organising a group gift or honeymoon fund, Givetastic offers a more personal experience with cards, messages, gift delivery and thank you tools built in.

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Give Givetastic a whirl today - set up a collection in minutes.

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