When can I create an online money pool?

Need to raise money for various projects, causes and events? Why not start an online money pool? Whether it’s for a birthday, a wedding, a travel project, a charitable cause, or even to help an association, platforms like Tiing’s (your hosts) offer unrivalled simplicity and ease of fundraising.

When can you create a money pool? We tell you all about it!

Before reading our article, if you’d like to start creating a money pool, it’s here! 👇

1. Private occasions: birthdays, weddings, trips…

One of the most common uses of online savings is for private occasions. Almost all of us have already taken part in one of these for a group gift, for example!

For example, for a friend’s or family member’s birthday, instead of offering a physical gift, you can create a money pool. Everyone can contribute what they can afford, and the total amount will be a nice surprise for the person concerned.

Similarly, for a wedding, creating a money pool can be an excellent alternative to the traditional wedding registry. Guests can contribute to the money pool as a gift, allowing the bride and groom to finance :

• their honeymoon,
• the purchase of a property,
• pay for part of the wedding
• or any other project of their choice.

Kitchens are also very practical for financing group trips. Each participant pays the agreed amount into the money pool, and the total amount is used to cover travel expenses.

And let’s not forget the “happy events”! Whether it’s to celebrate the mother-to-be at a baby shower, or baby and parents at the birth of a newborn, the money pool really works its magic at events like these!

2. The money pool to support your artistic projects

Beyond personal occasions, money pool campaigns are also widely used for project financing.

Whether you’re an aspiring artist looking to finance your first album, an inventor with a revolutionary idea, or simply someone with a project idea that needs funding, a money pool can be the solution.

What’s more, if you do well with the money pool, you’re guaranteed a double win:

• finance your project, of course
• but also gain in popularity if the money pool goes viral!

3. The money pool and its charitable scope

Associations are also taking advantage of these “cagnottes” to raise funds. It’s also worth noting that on many platforms, as is the case with Tiing, donations for charitable projects are part of the majority of money pool offerings!

Whether it’s a charity, a sports or cultural association, or anything else, a money pool is a transparent and secure way of raising money.

4. A money pool to help the community

Another occasion when a money pool can be created is when a person or family is in difficulty.

Whether following a natural disaster, illness, death or accident, a money pool can help raise funds quickly and efficiently.

Similarly, to support a cause close to your heart, whether it’s :

• the fight against hunger,
• children’s education,
• environmental protection, etc,

An online money pool can be a great way to mobilize people and raise funds.

5. Online savings accounts for professional occasions

Beyond personal and associative occasions, online money pools can also be used for business purposes. They offer companies a modern, efficient solution for financing projects, events or supporting causes. Sometimes it’s even the alternative to the famous envelopes that are passed from office to office!

When a company wants to launch a new product or service, it can opt for participatory financing via an online money pool. This type of financing makes it possible to :

• test the market’s interest in the proposed product or service
• and raise the funds needed to implement it.

Each contributor can participate according to his or her means, and receive in return a compensation corresponding to his or her level of contribution.

Companies can also create a money pool to organize events such as a colleague’s farewell party, team building or seminars. Once again, each participant contributes a suitable amount to the money pool, which is then used to finance the event.

Finally, companies can use online money pool campaigns to support causes close to their hearts. For example, a company can create a solidarity money pool to help an association in its mission. Company employees and partners can contribute to the money pool, helping to reinforce the company’s positive image while supporting an important cause.

How do you create a successful money pool?

Once the money pool has been created, the management phase begins. This involves distributing the link on various media and channels such as social networks, websites, newsletters, etc. to reach as many people as possible. It’s worth remembering that the greater the number of people reached, the greater the amount raised.

It is also possible to track the progress of the online money pool using the tools offered by the platforms. These tools enable you to find out how much money is in the money pool at any given time, the number of donors, average donations, etc.

Withdrawals from the money pool are generally made by bank transfer or credit card. In the case of solidarity kitchens, a tax receipt can be issued by the platform so that donors can benefit from a tax reduction on the amount of their donation.

Are online savings accounts suitable for group gifts?

Online savings accounts are ideal for group gifts! It’s one of the reasons they exist.

They make it easy for friends, colleagues or family to raise money for a shared present, whether for a birthday, wedding, retirement or any other event requiring a collective gift.

Is it possible to use a money pool for tragic or unforeseen events?

Yes, money pool services can also be used for tragic or unforeseen events, such as :

• funeral
• financial support following accidents,
• or emergency aid in the event of a natural disaster .

They help raise funds quickly to help those affected.

How can I be sure of the security and reliability of a money pool?

The security and reliability of an online money pool can be guaranteed by using recognized and regulated platforms, which offer secure payment systems and transparency over transactions.

Tiing is one of them!

It is advisable to read user reviews and check the security measures implemented by the service before creating or contributing to a money pool.