Need an internet coffee can for monies among friends.
August 9, 2011 2:17 PM Subscribe
We'd like to pool our money so we can throw awesome parties more regularly.
posted by evil holiday magic to Work & Money (10 answers total) 5 users marked this as a favorite
Some friends and I recently had a (coed) bachelor party in Las Vegas. Even in this expensive city, with some connections and the costs distributed over 20+ people we managed some pretty sweet VIP treatment in several rather nice places. It was fun. The only good time I've had in Vegas, in fact. We're hooked. We'd like to pool our money so we can throw awesome parties more regularly. And we need to do it in a way that commits us to this project, where the money can't (easily) be dipped into; like grabbing a $20 out of a coffee can to fetch the odd pack of Marlboros. (If a person doesn't attend, their money will not be used. We trust each other; if only one person manages, and can finally withdraw from, the fund, that's OK.)
We need a convenient way to contribute to a collective fund that'll be periodically tapped for such events. It should be easy to contribute online -- automatically is preferable, but not essential -- and it should be free or with minimal fees.
- A bank's savings account, but we all have different banks.
- A dedicated savings account, like ING Direct, but it'd still be tied to a single user. I'm guessing checks would have to be written to that person, deposited, transferred... not convenient.
- PayPal. But they'd take almost 3%, which is kind of silly considering its utility as an online coffee can for us. (That'd be $48 out of $1,600.)
- Kickstarter, but its fee is 5% ($80/$1,600).
Are there any services suited to this? Or things we might not have thought of?