Shared Jars

Are you part of a local community group keen to help vulnerable friends and neighbours with their shopping?

Are you part of a local community group keen to help vulnerable friends and neighbours with their shopping?

There’s a way to do it without using (or chasing up) cash that’s safe, simple and keeps a digital record of every pound that’s been spent.

About the HyperJar app

HyperJar is a free-to-download, free-to-use money management app. A digital version of jam-jar budgeting, HyperJar lets you divide your money into virtual Jars according to how it’s spent, on things like food, kids’ clothes or petrol.

Shared Jars

One HyperJar feature that’s particularly helpful at the moment is the ability to share Jars with a group, doing away with the need to collect and pay with cash.

Shared Jars are like instant digital kitties, allowing up to 30 people to pool money together, spend and leave notes for each other. You’ll also see a full record of what’s been spent and paid in, by whom and when.

Just like a WhatsApp group, but for money.

How to use Shared Jars to buy shopping for friends, family and neighbours

1. Create a Jar and invite others to share it. Only the Jar owner can invite people

2. Set individual permissions – such as who’s allowed to spend from the Jar, how much each user can spend and who can just pay into it – for all sharers

3. Each sharer can pay into the Jar either for themselves or on behalf of a relative, friend or neighbour

4. The Jar owner ,and anyone else who has been given permission, can each spend from the Jar with their own HyperJar card, for shopping online or in-store

5. If you are shopping for multiple people from the same Jar, pay separately for each shop to track different spends easily

6. Sharers can leave notes in the Jar for each other, shopping lists, reminders and thank yous

7. The Jar owner will have a permanent record of all payments in and out of the Jar

Be careful

Shared Jars are a brilliant tool for pooling money digitally but treat them just as carefully as you would a cash kitty. If you are invited to join a shared Jar, make sure you know and trust the person who owns it and others who have permission to spend from it. Jar owners have both permission to spend any money in the Jar and to move money out of the Jar and to their bank account if they choose. Equally, if you are the Jar owner, only give spending permissions to people you trust with shared access to pooled money.

Money in HyperJar is protected

HyperJar isn’t a bank and doesn’t take any risks with money by lending it out or reinvesting it. That’s why accounts aren’t underwritten by the FSCS. Instead, your money is kept in segregated accounts governed by the e-money regulations of the Financial Conduct Authority. It's the same system used, for example, by the PayPal wallet, Revolut and Transferwise.

Downloading HyperJar and getting started

Get HyperJar in the App Store or Google Play. It takes about a week for your HyperJar card to arrive once ordered. Signing up to HyperJar doesn’t affect credit scores as it’s a prepay account.