What is a Collection Pot?
What is a Collection Pot?
A collection pot is a way for a group of people to contribute money towards a common goal or gift. It can be a physical pot, like a jar or piggy bank, where individuals can drop in their money, or it can be a digital collection pot. Examples exist like Collctiv and collection pot in the UK, or Venmo, Zelle or Braid in the US.
Each has their own nuances, from costs to pay in or withdraw funds, to what you can do with the money you have collected at the end of it BUT there is one option that has three really unique aspects that will make it as easy as buying something from Amazon to pay into your collection.
Collctiv does not need you to download an app, create an account or do any banking to pay in to a pot. This means that you as the organiser simply creates a collection point, shares the link or QR code and people then just tap to pay. With ApplePay and GooglePay this takes less than 5 seconds!
The second unique element is that it costs you, the organiser, NOTHING. Collctiv exists to serve you, the organiser. The person that makes everything happen for everybody else (usually without a word of thanks). The person that if you didn’t do it (whatever ‘it’ might be, from the next group outing, meal, sporting get together, end of year teacher present, birthday gift, baby shower…..the list goes on!!) it just wouldn’t get done, or worse still it would get done poorly. Collctiv firmly believes that you are the very last person that should have to pay for the privilege of doing all you do!
The third and final unique aspect is that Collctiv is payment agnostic. This means regardless of who you bank with, everyone can pay in. Don’t get me wrong, if I have pizza with three of my friends and I pay using my Monzo account, I can split that bill quite easily with my three friends through the Monzo app. BUT, I can only so this if all three of them use Monzo too, or I can persuade anyone who isn’t to open a new bank account over a game of Poker.
There are quite a few more things we think you’d like, why not download the free app and have a look around?
What can I use a Collection Pot for?
Collection pots can be used for a variety of occasions and purposes, including work colleagues leaving, end of year and Christmas teacher gifts, and group events like birthdays or baby showers.
For example, if a colleague is leaving the office, a collection pot can be used to collect money from everyone in the office to buy them a going away present. This can be a more cost-effective and personal way to show appreciation, rather than each individual buying a separate gift.
Collection pots can also be used for end of year or Christmas gifts for teachers. Rather than each student’s parent buying a separate gift, a collection pot can be used to pool money together to buy a larger and more meaningful gift. This saves lots of time for the parent (because let’s face it, which parent has spare time?!) and also avoids the scenario of the teacher getting 10 boxes of chocolates, 3 bottles of Tesco’s finest prosecco and a few repeated items from the first aisle at B and M or Home Bargains!
Instead, they can get a really meaningful amount of money or vouchers to do or get something that they really want!
In addition, collection pots can be useful for group events like birthdays or baby showers. Instead of each person buying a separate gift, a collection pot can be used to pool money together to buy a larger and more thoughtful gift for the guest of honour. Often this removes anxiety about how much everyone else is spending, or how your gift and card might compare to the Jones’. Instead, there is an inclusive card, the gift recipient feels loved and valued by everyone and gets something genuinely significant to commemorate the big day!
Digital Collection Pots
Digital collection pots have made it even easier to collect money from a group and in post-Covid times, where the digital revolution was massively accelerated by the outlawing of any form of contact between people, it has become something of a necessity. Rarely do people carry cash and most poignantly, most companies now operate a hybrid working structure where team members work from both home and in the office. Therefore, getting to see everyone is a much bigger logistical challenge than previously.
Most of the aforementioned platforms are digital, accessible either from your computer, your phone, or both. Digital collection pots make it easier to track contributions and ensure that everyone has contributed, whilst providing you with a running total. Again, each one does this to different levels of efficacy, so have a look and make your choice based on usability.
In conclusion, collection pots are a convenient and cost-effective way for a group of people to contribute money towards a common goal or gift. Whether for a work colleague leaving, a teacher gift, or a group event, collection pots can help bring people together and make gift-giving more meaningful.
Organizers bring people together
Since 2019 Collctiv has helped over 500,000 people from 97 countries come together by making it simple for Organizers to collect money from groups. Whether it's gifts for teachers, group holidays or grassroots sports teams - download our free app today and start bringing people together!