To manage costs for a group trip, to open a gift fund, or to collect contributions for a party, you can easily and quickly open a group account! You'll have a common collecting pot that's separate from your private bank accounts and that several people can access.
The collecting pot for your free time
With the group account you can easily pay your bills or refund money to someone who has paid forward
Save time with the group account
While planning on doing something as a group, at some point you need to decide how the necessary money will be collected and who will take care of it. Using a cash box or a private bank account does not provide a good overview of the joint money.
You can easily deposit money to the group account via bank transfer or PayPal. Your payments are automatically documented and all group members have insight into the transactions at any time. Payments are decided digitally, jointly and democratically. For this purpose, you specify in the group contract whether all group members or only selected ones should vote. You decide for yourself what fee you can pay for the use of the elinor platform.
The fact that the company has a steward-ownership structure is a huge plus for me. It gives me confidence and trust that elinor is not about maximizing profit at any price in the long term. Without the steward-ownership model, I would have had significantly more doubts about using elinor for the collecting pot of our neighborhood feast.
used the group account for his neighborhood feast
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Tips on how to collect money
How can you collect money for a birthday, a farewell, a party or other group activities?
With the group account you can quickly and easily collect money and have a structure that is not tied to a private bank account. The group account is transparent, digital and suitable for different needs.
Is it possible to collect money with PayPal?
PayPal Moneypool allowed friends to collect money for gifts, trips and other events. The function has been removed. Now PayPal users can no longer create collection funds that are separate from their private PayPal money. PayPal has created two replacement services: PayPal.Me and the Generosity Network.
As an alternative to Moneypool, you can use the Group Account. Just like PayPal Moneypool, with the group account you have a structure to collect money that is separate from your private account. This way you can easily track all payments and also have a voting feature that allows 100% transparency on how the shared funds are used.
Open your group account in just 2 minutes!
The street party is coming up again and last year the finances were a mess. Your best friends are getting married and you're supposed to take care of the cash gift. The yard flea market should attract even more visitors this summer with a waffle stand and homemade lemonade - and the costs?! Shared, of course.Create group account