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Why is it different from https://www.savinglabour.com or Angela Eagle's now defunct organization and what will be Owen Smith's when he gets it going?
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I don't see a 'Donate' button on savinglabour.com.
Edit to add - looking through the Momentum page, I see that they are disclosing the identity of donors over a certain size in line with the rules. Which is good. (This is something the SWP didn't do).
It's still a fund of money that can be directed to whatever purposes the Momentum leadership want to spend it on. If they set up an accountability structure, then I think the problem largely goes away. But at the moment it doesn't sit well.
h2o
Well, setting up entities designed to circumvent political funding rules has quite a long history in the US - https://en.wikipedia.org/wiki/Political_action_committee#Super_PACs
And while it is indeed the way the world currently works, the general feeling is that it hasn't done American politics any particular favours.
We don't have anything like the scale of the money problem in UK politics as there is in US politics, but fundamentally it's hard to see the difference between Jeremy for Labour Ltd and a Super Pac. It's not a healthy avenue to go down.