Currently 'Money Pools' and 'Accounts' are very similar. Accounts represent the actual regulated product provided to you by Griffin Bank Ltd. We open an Account for every Money Pool you create.
Money Pools have some additional features that sit on top of accounts (e.g. nudges), which help our customers organise and manage their money better.
For this reason to tend to encourage our customers to use Money Pools in the first instance to manage their money, but if they need to see or check the core account-level detail they can access this via Accounts.
In addition, although we do not currently offer it, we want to leave open the possibility of combining multiple Accounts within one Money Pool. For example you may create allocate historic profits to a Money Pool which utilises multiple Saving Account products (e.g. Easy Access Savings and Term Deposit savings).. In this example there is one Pool utilising multiple accounts. This is why we consider Money Pools and Accounts as distinct.