Shared money for friends
A shared account with friends, without a joint bank account
Pot gives your group one shared pot of money for its plans. Small spends go through on their own, bigger ones need the group's OK, and nobody can take it all. Pot isn't a bank account.
- No app to download
- Free to start, join and spend
The problem
Your group needs one place for shared money
Trips, a house kitty, the club's season: shared plans need shared money. Today that usually means one friend holds it in their own account, or some of you open a joint bank account together. Both ask the group to trust whoever can reach the money.
| The question | A joint bank account | One friend holds the money | A Pot |
|---|---|---|---|
| Who controls spending | Usually any account holder, on their own | The friend whose account it is | The rules your group agreed: small spends on their own, bigger ones with an OK or the group |
| Can one person take it all? | In most cases, yes: any holder can take money out and close the account | Yes: it's in their account | No: by default, one person can spend up to $200 in total without asking |
| Does everyone see every spend? | Only the people named on the account | Only what they choose to share | Yes: every spend, who asked and who approved it |
| When you're done | Someone works out who gets what and the holders close it | They pay everyone back by hand | Everyone gets their share of what's left, in proportion to what they put in |
| Opening it | Typically every holder applies and goes through the bank's checks | Nothing to open: it's their own account | Start a Pot and share one link in the group chat |
| How many people | Often two, sometimes a few more | One holds it; everyone else trusts them | Up to 40 |
Joint accounts work differently from bank to bank and country to country, so check your account's terms.
On who can take money out of a joint account, the US Consumer Financial Protection Bureau says that in most circumstances either person can withdraw money from and close the account:“A joint checking account owner took all the money out” (reviewed December 2024)
Plainly
What Pot is, and what it isn't
Pot is
- One pot of money your group shares, with rules everyone can read before they join.
- A web app. Friends open your link in the browser they already use; there's nothing to download.
- Free to start and use: Pot covers the running costs.
Pot isn't
- A bank account. There's no card, no account number and no interest.
- Credit. Nobody can spend more than the Pot holds, and nobody owes it money.
- One person's money. Nobody holds it alone: bigger spends need the group's OK.
How it works
How a shared Pot works
Five steps, from agreeing the rules to everyone's share back.
Step 1: Start a Pot and agree the rules
Name it, then keep the rules every Pot starts with or change them. By default, anyone can spend up to $100 at a time without asking, and up to $200 each in total.
Step 2: Share one link with your friends
Everyone opens it in the browser they already use, reads the rules, and joins. A Pot fits up to 40 people.
Step 3: Everyone puts money in
Set a suggested amount each if you like. It's only a suggestion: nobody is charged, and people can put in different amounts.
Step 4: Spend by the rules
Small spends go through on their own. Up to $300, one OK from another member is enough. Anything bigger needs more than half the group, and every spend shows who asked and who approved it.
Step 5: Close it and share back what's left
When you're done, the group approves closing the Pot, and everyone gets back their share of what's left, in proportion to what they put in.
Worked example
Five friends, one Pot, different amounts in
The Crew keep a Pot for their plans. Jo and Ama put in $200 each, Dev $100, and Kit and Lou $150 each, under the rules every new Pot starts with. Here's what they spent, who approved it, and why the ones who put in more get more back.
| What | Amount | Left in the Pot |
|---|---|---|
| Everyone puts money in | + $800.00 | $800.00 |
| 5 friends, $800 between them | ||
| Snacks for game night, by Kit | − $45.00 | $755.00 |
| Goes through on its own: it's under the $100 instant limit | ||
| Concert tickets, by Ama | − $250.00 | $505.00 |
| Needs one OK from another member: it's over $100, up to $300 | ||
| The lake house, asked for by Jo | − $420.00 | $85.00 |
| Needs 3 of 5 approvals, and Jo's own request counts as one | ||
| Person | Put in | Gets back |
|---|---|---|
| Jo | $200.00 | $21.25 |
| Ama | $200.00 | $21.25 |
| Dev | $100.00 | $10.62 |
| Kit | $150.00 | $15.93 |
| Lou | $150.00 | $15.95 |
| Total | $800.00 | $85.00 |
Who it's for
Made for groups that share some plans
Trip crews
Everyone chips in before anyone books, and gets back what's left after.
Collect money for a group tripHousemates' shared stuff
A kitty for what the house shares: cleaning things, toilet roll, the plants. Keep paying rent the usual way.
A club or team kitty
Collect for the season, then pay for the pitch, the kit or the end-of-season dinner with the group's OK.
Family plans
A reunion weekend or a parent's birthday dinner, with everyone seeing where the money goes.
Rules that fit
Set the rules for how your group spends
Every Pot starts with the same rules. Change them when you start the Pot, or later with the group's OK.
A house kitty: a smaller instant limit
Anyone can spend up to $50 at a time without asking, and up to $150 each in total.
Enough for the everyday things the house runs out of. A new vacuum or a sofa goes to the group.
A club: pay the people you name
Instant payments can go to members and people you name.
Name up to 10 people you pay often, like the coach, so small payments to them go through on their own. Anyone else still needs an OK.
For the long run: keep Trust grows on
Every 3 paid spends raise someone's instant limit by $100, up to $300.
People who spend well get more room as the months go on, and a declined request lowers it again. It's on by default for every new Pot.
Questions
Questions about a shared account with friends
Can friends open a joint bank account?
It depends on the bank, but often yes. In most cases any holder can take money out or close the account without the others, so it suits people who trust each other completely. A Pot is a different option: shared money with rules, not a bank account.
Is Pot a bank?
No. Pot is a web app for money a group shares, with rules everyone agrees to. It isn't a bank account: there's no card and no interest.
Who controls the money?
The rules your group agreed. By default, anyone can spend up to $100 at a time and $200 in total without asking, one OK from another member covers up to $300, and anything bigger needs more than half the group.
Can one person take it all?
No. By default, one person can spend at most $200 in total without asking. Anything bigger needs an OK or the group's approval, and everyone in the Pot sees every spend.
What happens when we're done?
Anyone in the Pot can ask the group to close it. Once more than half approve, everyone gets back their share of what's left, in proportion to what they put in. It goes to each person's Pot dollars, ready for their next Pot.
Can anyone see our Pot?
Some of it. Anyone can look up the amounts, the Pot's name and rules, and who approved each spend. Names, pictures, notes, comments and receipts are only for the people in the Pot.
Is it free?
Yes. Starting a Pot, joining one and spending from it cost nothing: Pot covers the running costs.
Start your group's shared Pot
Name it, agree the rules, and share the link. Everyone sees every spend, and nobody holds the money alone.
