Create a digital money pot in the Payconiq by Bancontact app

publish date
24 January 2023

Clubbing together to buy a birthday present? Need a good way of dividing the weekly round of drinks at the café fairly? Payconiq by Bancontact’s new money pot feature provides an easy way of collecting all the money via the app.

No more rattling the collection box when a colleague in the office is retiring. No further need for someone (usually you!) to advance the money for a group meal because not everyone has paid their share yet. From now on, you can replace the good old-fashioned shared group pot by a digital version in the Payconiq by Bancontact app. Looking to collect an amount of money with friends or family for a gift, a weekend away or a pub crawl? Now you can do it simply via the app! Create a money pot, invite your friends to contribute and see an overview of all the contributions you have already collected directly in the app. A digital shared pot like this can also be useful on group trips away or to pay for shared groceries. 

How does it work? 

1. Tap on the ‘Receive’ button and on ‘Create money pot’.

2. Enter an amount, or leave the amount blank so that everyone can make the contribution he or she wants.

3. Send out a request via a text, a WhatsApp message or an e-mail to your friends, asking them to top up the pot.

As the organiser, you can keep an eye on contributions into the money pot at all times. The ‘Money Pot’ feature also has a summary of all the group pots you have created previously and who contributed how much. 

A maximum of 30 contributions can be collected for each money pot. And the request to contribute remains valid for 30 days. 

The big benefit of a digital money group pot is that everything is crystal-clear! No more fiddling around advancing money or having people say they’ll pay you back later. A group pot can be created in three simple clicks, making it very easy for your friends to pay in their contributions: they simply click on the request to contribute, enter or confirm the amount and – hey presto! – they’ve made their contribution.

Read the full press release here