Switch - Shockingly simple group payments Switch - Shockingly simple group payments

Campus Internship

How to Create and Manage a Money Pool Online: Simplify Group Payments with Switch

March 29, 2023

A scenic view of a spacious living room with neutral tones and contemporary furniture.

How to Create and Manage a Money Pool Online

Are you tired of the hassle and stress of collecting and managing money in groups? Do you want an easy and transparent way to pool money for events, trips, or social activities? Look no further! In this blog post, we will show you how to create and manage a money pool online, so you can enjoy seamless and efficient group payments.

By the end of this post, you'll learn:

  • How to set up a money pool using an online platform
  • How to invite participants and track contributions
  • How to use virtual debit cards for easy spending
  • Tips for maintaining transparency and accountability within your money pool

How to Create and Manage a Money Pool Online

Creating and managing a money pool online has never been easier. Follow these steps to get started:

1. Choose a reliable money pool platform

Research and select a trusted online platform that specializes in money pooling. Look for features such as easy setup, virtual debit cards, and transparent tracking of contributions.

2. Create a pitch and set the goal amount

Create a pitch within the money pool platform and set the desired amount you want to collect. Specify whether participants can contribute any amount or an exact amount.

3. Invite participants

Invite participants to join your money pool by sharing a web link or through the platform's app. Make it easy for them to sign up and contribute.

4. Track contributions and manage funds

Use the platform's tools to track who has paid and who hasn't. Enjoy the transparency and shared accountability of the money pool. You can also integrate the platform with accounting software like QuickBooks for easy record-keeping.

5. Utilize virtual debit cards for spending

Take advantage of the platform's virtual debit cards to make purchases online or using Apple/Google Pay. Easily create, delete, and manage these cards within the app.

6. Communicate and stay organized

Engage with participants through the platform's chat functionality. Discuss expenses, share important details, and ensure everyone is on the same page. Utilize SMS text blasts for important updates.

7. Dispose or reuse the money pool

After achieving your goal or completing your activity, you can dispose of the money pool or reuse it for future endeavors. The choice is yours!

Make Managing Group Payments Hassle-Free with Switch

Switch is an innovative mobile payment platform that empowers you to create incredible experiences by simplifying the collection and spending of money in groups. With Switch, you can easily create and manage money pools for any occasion.

Switch offers a user-friendly interface, transparent tracking of contributions, virtual debit cards for easy spending, and seamless communication within the platform. It's the ultimate solution for pain-free group payments.

Start using Switch today and reshape the way you manage group finances!

  • Say goodbye to the stress and awkwardness of collecting money from friends
  • Easily request and track contributions, ensuring transparency and accountability
  • Spend together instantly with virtual debit cards
  • Enjoy a social component with built-in chat functionality
Get the App

Get started in


Switch is a financial technology company and is not a bank. Banking services provided by Thread Bank; Member FDIC. The Switch Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.

© 2023 Grink Inc.