What is a Pooled Business Account?

A pooled bank account is a financial arrangement where funds from multiple individuals or entities are consolidated into a single account. This account structure is commonly used by organisations, associations, or businesses to centralise and manage financial resources collectively.

What are the benefits of a pooled account?

The benefits of a pooled account can vary depending on the context and the service provider. Here are some potential advantages:

  1. Convenience: Pooled accounts can be convenient for business partners or directors who share financial responsibilities. Having a shared account provides greater transparency and accountability and can help ensure a business operates in a compliant manner.

  2. Expense tracking: A pooled account can simplify and unify the tracking of shared finances. This can help prevent overspending, meet financial commitments, and support budget allocation.

  3. Accessibility: All account holders have access to the funds in the pooled account, which helps speed up the payment process and promotes shared financial responsibility. 

Pooled v individual accounts: what's the difference?

Pooled and individual business accounts refer to different ways businesses can manage their finances. Here are the key differences between the two:

Pooled Business Account:

  • Shared account: multiple individuals or departments manage funds from a single account.

  • Simplified transactions: Pooled accounts are often used to streamline financial transactions, especially when there's a need for centralised control over funds.

  • Commonly used in large organisations: Pooled accounts are more commonly found in larger organisations where different departments or teams collaborate and contribute to a central fund.

Individual Business Account:

  • Separate accounts: Individual business accounts are dedicated accounts for specific purposes, departments, or individuals within the organisation.

  • Enhanced control: This approach provides greater control over finances for specific teams or purposes. It allows for better tracking of expenses, revenues, and financial activity.

  • Common for SMEs: Smaller businesses often prefer individual accounts because they offer a more straightforward way to manage finances.


  • Risk and control: Pooled accounts may present challenges regarding control and accountability. It's essential to have clear policies and monitoring mechanisms to mitigate the risk of misuse or mishandling of funds.

  • Flexibility: Individual accounts offer more flexibility in tailoring financial management strategies to specific needs. Each account can be managed independently, allowing for customised financial approaches.

Should I choose a pooled or individual business account?

The choice between pooled and individual business bank accounts depends on your organisation's specific needs, size, structure, and the desired level of control.

  • Organisation size: Larger organisations with multiple departments may find pooled accounts more practical, while smaller businesses often prefer individual accounts for simplicity.

  • Operational needs: Consider the nature of your business operations. Individual accounts might be more suitable if different teams or departments have distinct financial requirements.

Does 3S Money offer pooled business accounts?

3S Money does offer pooled business accounts, although they are not included in our standard account offerings. These accounts are used in exceptional cases where individual account numbers cannot be provided for specific currencies or jurisdictions.

In such situations, we can arrange a tailored banking solution to meet your requirements, enabling you to continue collecting, sending, and exchanging payments in the usual manner.

Please do not hesitate to contact us to learn more about our range of accounts and how 3S Money can assist your business.

Last updated: 16/01/24

Need further assistance?

Get in touch to learn more about service and get help from our dedicated support team

Subscribe to our newsletter to receive latest updates from 3S Money

© 3S Money Club Limited 2019-2024. All rights reserved. 3S Money and 3s.money are trading names of 3S Money Club Limited. 3S Money Club Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for issuing of electronic money and the provision of payment services with FCA registration number 900918. 3S Money Club Limited is registered in England and Wales, Company Number 8574246, with its registered office address at 45 Folgate Street, London, E1 6GL, United Kingdom. 3S Money Club Limited is registered with The United Kingdom Information Commissioner's Office with ICO registration number ZA495485. 3S Money Club Limited (DIFC Branch) is regulated by the Dubai Financial Services Authority (DFSA) with DFSA reference number F007004, authorising it under Article 48 of the Regulatory Law 2004 to carry on the Financial Services comprised in Issuing Payment Instruments and Providing or Operating a Payment Account. 3S Money Club Limited (DIFC Branch) is registered in Dubai International Financial Centre, Licence Number CL5587, with its registered office address at Central Park Towers, office 20-54, DIFC, Dubai, UAE. 3S Money (Luxembourg) S.A. is authorised by the Commission de Surveillance du Secteur Financier (CSSF) under the law of 10 November 2009 on payment services for issuing, distribution and refund of electronic money with CSSF registration number W00000016. 3S Money (Luxembourg) S.A. is registered in Luxembourg, R.C.S number B245715, with its registered office address at 2, Rue Edward Steichen, 1st floor Regus, L- 2540, Luxembourg, Grand Duchy of Luxembourg.