A Pool is a personalised page that lets PayPal personal account holders collect money for a specified purpose.
Funds you collect through a Pool will be held in your PayPal account as a part of your PayPal balance. You’ll need to transfer them to your primary account balance before you can spend or withdraw them.
It is your responsibility to only use the funds for the stated purpose of the Pool.
If your account has a negative balance, we reserve the right to set off your negative balance by drawing upon any Pool funds up to the amount that you owe.
Sharing of information
Your name, PayPal profile photo, and the total amount you have collected may be displayed on your Pool page, in addition to any cover image and/or pool description that you add.
When you create your Pool, you’ll be asked if you would like to display the names, profile photos, and contribution amounts of contributors to your Pool (“Contributor Information”). Even if you have chosen to display this information, contributors can decide to not display their information on your Pool page.
To help keep PayPal a safe place to transact, the following activities are prohibited when you use a Pool.
You must not engage in any activity, post any content or create a Pool that:
PayPal is under no obligation to monitor the use of the funds collected in a Pool and will incur no liability whatsoever in the event they are not used for the stated purpose of the Pool. Any disputes with contributors in relation to the Pool or your use of its funds are your responsibility.
If we reasonably believe you have breached these Terms or otherwise pose an unacceptable level of risk to the integrity, security or reliability of us or our systems, we may suspend your Pool and/or PayPal account at any time.
We’ll update these Terms from time to time. Updated Terms will be effective as of the date of posting. If we make any substantive changes to these Terms which may negatively impact your use of the Money Pools in a material way, we will post a notice of those changes on the “Policy Updates” page of our website and email you a notification. You agree to receive such notices in this way. The changes will take effect on the date specified on the “Policy Updates” page, which will be at least 30 days after we send the notification email to you. Your continued use of a Pool constitutes your acceptance of updated Terms. If you do not agree with any updated Terms, you should immediately close your Pools.