Leetchi Aims to Simplify Group Gifting in the UK
Have you ever tried to organise a group gift for a friend or family member with several people chipping in to fund it? I know that I have and if your experience was anything like mine, then I’d imagine the whole process of collecting the money from all involved was a bit of a nightmare, especially if those who were contributing to the group gift were scattered around the UK or even in other countries!
Well, a company called Leetchi.com who have recently launched in the UK are aiming to make the whole process of group gifting much easier for both group gift organisers and contributors alike. Let’s look at who Leetchi are, how Leetchi works and most importantly, whether there are any fees involved when using the service.
Who are Leetchi?
Leetchi was first launched in France back in 2009. Since being acquired by the French bank Crédit Mutuel Arkéa in 2015, Leetchi has drastically grown its user base and now boasts more than six million users. Leetchi is no longer just a French company, either, as its website is now available in four different languages and people can contribute to group gifts – or what Leetchi calls ‘Money Pots’ – from more than 150 different countries.
It’s easy to see how Leetchi could simplify the process of group gifting. Leetchi aren’t just about group gifting, however, as you can also create Money Pots to collect donations for charity causes, community projects, parties, travel and much more.
How does Leetchi work?
As we’ve already mentioned, Leetchi allows users to create a ‘Money Pot’ which can be contributed to by people from many different countries. After setting up a Money Pot, the organiser of the pot can invite people to contribute via email, social networks or even just by sharing the website link to the pot by text or by any other means. While you are asked to specify a target amount you would like to reach when setting up a Money Pot, if people contribute more than this then that is fine and you can continue to collect donations to your pot.
What are the fees?
With Leetchi.com, it is completely free to create a Money Pot and to launch a campaign. Those who are making donations to your pot can also contribute for free. The only fee you will currently pay when using Leetchi is when you come to transfer the collected funds to your chosen bank account.
The current fee for the bank transfer is 4% when transferring up to £2000 or 2.9% for transfers above £2000, and Leetchi state on their website that this is just to cover the costs incurred from making the transfer. In the future, you will also be able to spend your Money Pot with a Leetchi online partner store. There will be no fee involved if you choose this option but as Leetchi have only just launched in the UK, they are currently working with Amazon and are in the process of recruiting many more partner sites.
So, if you want to reduce the hassle of collecting group gift donations from friends and family both in the UK and around the globe, then Leetchi might well be the perfect platform for you.