Revised-4-Step-Process_Revised

Online Money Boxes Are Here To Stay

Revised-4-Step-Process_Revised

Online Money Boxes Are Here To Stay

New to South Africa, online money boxes are starting to become something of a big deal abroad – especially in Europe. Used for many different things, from group gifting to shared contributions, parties, crowd funded donations and all sorts of other group gifts and events; the idea of these nifty virtual tools is rather simple. As an added bonus, it takes out all of the hassle of envelopes, loose change and those stingy peeps who manage to sneakily avoid contributing even after everyone else has coughed up a few Randelas.

The person in charge of money collection (let’s call this person The Collector) sets up a money box online, and then invites friends, family and/or co-workers (hereto known as The Contributors) to contribute to this box. Invites are sent, and from there, The Contributors can add in their hopefully generous share to the pool. Reminders can also be set, and if someone really doesn’t want to contribute, they can politely decline. Once you’ve gathered all the monies, you can either cash out to your recipient’s bank account, or, in the case of Candystick, the recipient can redeem however much you have saved at an online gift store.

Ok. But What Are Virtual Money Collection Boxes, Anyway?

The concept of virtual money collection boxes was pretty much inevitable. Virtual currencies have slowly but surely been making waves across the world, giving consumers brand new alternatives to traditional bank notes and coins. As technology continues to expand at a rapid rate, it makes sense that the need for smarter, simpler solutions also continues to grow.

Tools that allow you to save (and spend) virtual money are one thing, but tools that simplify the actual collection process are another story altogether. To date, particularly in South Africa, our options for collecting funds for various purposes (altruistic and otherwise) have for the most part been limited to old school envelopes, IOUs and bank transfers. These are fine and dandy, but end up becoming a nightmare as far as admin is concerned. And then there is the not-very-small factor of having to remind those who haven’t chipped in yet and make sure that everyone has put in however much they said they would put in, and of course, counting out all of the notes, coins and EFT’d funds once everyone was collected.

This is where the idea of a virtual collection tool began to take shape, giving Collectors and Contributors a way to digitise the process, so to speak, and make things way, way simpler all round.

How Are They Used?

There are more ways to use an online money box than you can shake a stick at. Whether you are organising a hen party or a farewell party; a bar mitzvah or a baby shower; collecting cash for an your boss’ wedding present or a group gift… or even if you are trying to crowd fund that fancy new thing you want for your birthday.

These tools can also be used if you want to do something awesome for your community, like organise a charity drive or a park clean up or a neighbourhood pet sterilisation drive or a new park bench. Planning a holiday with friends? You can use an online money collection box for that, too. And for that amateur film you are trying to make that just needs a few hundred sponsors to reach editing phase. Or even that spa package you and your siblings want to give your mom for Mother’s Day.

How Do I Get One?

If all of this is sounding pretty good right now, and you’re already thinking about how you can use such a tool for your next big thing you’re in the process or organising, we suggest that you give Candystick a whirl. As the only one of its kind here in SA, it has a reputation that is spreading faster than the rumour about Kanye planning to run for president.

Once you’ve registered, you can create your very own Candybox and start inviting people to contribute. A host of cool features like invites, reminders and the option to redeem Candyboxes at partner gift stores make it both fun and easy to use, while you can also cash your Candybox out through your bank. Head on over to CandyStick.co.za to learn more about how it works, then register to create your Candybox. It really is as simple as that (and loads of fun to use, too).

 

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