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3 Ways to Share Expenses and Collect Money Online

Track Shared Expenses and Set Up Online Fundraisers

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Updated July 22, 2013: While Buxfer is still available, BillMonk has been purchased by BillPin and the ChipIn website is not functioning at this time, leading me to believe that the service is no longer in business.

To get the latest information, read Collect Donations and IOUs with Online Apps: 4 Online Apps That Split Bills and Collect Payments.

Collect money online for shared expenses with a roommate, group purchases, or to do fund raising with the web-based software listed here. Set up an online money collection for the office to chip in for your boss's birthday present, to help pay for a class trip, or as a fund raiser to save the Purple Toed Iguana.

You have to register to set up an online collection or shared expense tracking on one of these web sites. Some online collection sites require you to specify the amount of money you need to raise, what funds are for and by what date you need the money.

1. ChipIn

Split bills or raise funds online with ChipIn.
www.chipin.com
Set up an online collection with ChipIn to get widgets to raise money on blogs, web sites and social sites like Facebook, MySpace or Blogger.

A contributor's credit card or PayPal account is immediately charged when a contribution is made to a ChipIn collection. Contributors do not need to register with ChipIn.

ChipIn does not require an amount or date to be set for an online collection. If you set a target and do not reach the goal, you can either claim the funds that have been raised, or you can extend the collection.

Costs: ChipIn charges no fees to contributors or to collection organizers, but PayPal fees may apply.

Minimum collection: None.

Payment: PayPal account required to receive collections.

ChipIn Privacy Policy

2. Buxfer

Buxfer Online Money Management and bill sharing
Buxfer Inc.
Buxfer is web-based personal finance software that can easily be used to collect on shared expenses and club dues.

Buxfer groups, which consist of those who are splitting a cost, show dollar amounts owed or to be received by group members.

Buxfer has gadgets for iGoogle, Facebook and Netvibes, and Buxfer sends email or SMS notifications when transactions are posted and for group activity.

Minimum collection: None.

Payment: Buxfer uses Amazon payments to transfer money online.

Cost: Buxfer rounds amounts down for totals that do not divide evenly and keeps the extra pennies. Sending money with Amazon Payments is free, but there is a fee for receiving money.

Buxfer Privacy Policy

3. BillMonk

BillMonk is an online bill sharing and loan tracker.
Obopay, Inc.
BillMonk tracks the debt between groups of people then suggests a way to shuffle debt around so each person owes an equal amount, but has debts with fewer people. BillMonk members can also create a library of items to lend to friends and reports who borrowed what.

BillMonk categorizes expenses with tags, downloads CSV data for spreadsheets, and bill or loan information can be sent to BillMonk from a mobile phone.

BillMonk supports over 30 currencies and virtual currencies of some online communities.

Minimum collection: N/A

Payment: BillMonk FAQ says it encourages using Obopay cover debts.

Costs: BillMonk is part of Obopay, and Obopay charges apply for some transactions.

BillMonk Privacy Policy

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