Silly question but is there a way to collect money for something separate to your normal account

[0verth1inker]

There’s a family in our village who have had a very tough time recently. We want to do a sort of ‘whip around’ for them to raise some funds to help towards Christmas (they have 3 small kids and for various reasons it will be a financially tight and difficult year). I have offered to collect the money then ask the mum whether she wants the cash or for us to buy presents etc. I’m expecting money to come in dribs and drabs between now and mid December as people remember/get paid. Is there a way of having a seperate place to put this money in so it doesn’t get mixed into our current account and get missed or forgotten or DH thinks we have extra and spends it . We have one joint current account and I have a savings account but I can’t withdraw money from it yet so can’t go in there! Thanks :)

I'm with Halifax and somehow have two current accounts and three savings accounts. Could you open up a basic account with your bank as you could access it on the same online banking then?

Ooh that’s interesting I will have a look. I want it in some sort of ‘pot’ that ideally I can close!

PayPal do this I think

We've used PayPal Money pools to gather things in for folk leaving work etc

Monzo is your friend here.

Unless they have changed it, it's incredibly easy to get an account.

You can then set up different 'pots' within the account.

You could set up an account like Cashcard which people pay into and then give the card to the mum so she can spend it? My friend and I use one for general kitty expenses when we go out.

Definitely keep the money completely separate from your own finances.

And you sound so lovely to do this.

Try Monzo, sign up for a current account and then you can have as many pots as you like to sort separate payments into.

I would use PayPal.

PayPal money pool definitely

@MatildaTheCat

You could set up an account like Cashcard which people pay into and then give the card to the mum so she can spend it? My friend and I use one for general kitty expenses when we go out.

Definitely keep the money completely separate from your own finances.

And you sound so lovely to do this.

This sounds like a lovely idea!

P.S how lovely of you to go to this effort by the way.

Paypal money pool is good, we've used it for all office whip rounds since COVID. You jsut set it up, then get a link to send round to everyone. They can donate any amount, named or anonomously, and leave a message if they want. You then withdraw it to your Paypal wallet, and to your account from there when you need to.

@HunterHearstHelmsley

I'm with Halifax and somehow have two current accounts and three savings accounts. Could you open up a basic account with your bank as you could access it on the same online banking then?

I too have many Halifax savings accounts and they keep pestering me about a second current account! I'm not sure how I have so many.

I've recently just used one of the savings accounts for something similar.

@MatildaTheCat that’s a really good idea! Thanks all- PayPal money pool sounded perfect but apparently they don’t do that any more! I’ve found a good app I can use but I might actually use the cash card as a pp suggested. I’d rather give the mum the cash really in case she needs it for something specific. Thanks all :)

Viing are perfect for this. Everyone donates to the page that you set up and then the individual is transferred the money directly once the deadline for contribution has closed.

@RumJerrySailorRum

Monzo is your friend here.

Unless they have changed it, it's incredibly easy to get an account.

You can then set up different 'pots' within the account.

You can do this with Starling too

Viing all the way.