Sharing Money Among Friends: the Neobank Solution

Gone are the days of accounts scribbled on a piece of paper that was lost every other time. To do your accounts with your friends, you can choose between many applications. We’re just doing a little snooping around for you.

Are you the “never without my buddies” type, who abhors loneliness? Then let’s bet you’re living as roommates. And if you haven’t already, you’re considering it. It’s in the air now! Your holidays and weekends, you only consider them as a group. Bars, restaurants, bowling: you all like to enjoy it together. And when one of your buddies drops you to get married, you stay more united than ever at his bachelor party (EVG), hoping you don’t lose him for good.

To manage money, and to do the accounts with friends in all these circumstances, new applications have been created a few years ago. Some are integrated into a neobank, others are free applications specially dedicated. For you geeks, they have become a new reflex! Birthdays, student parties, big end of year meals… thanks to her we always know who paid what and who has to pay back so-and-so to stay good friends! No more fancy calculations: everything is recorded. Also stop the bad payers and the cheapskates. A friend of mine is rowing a little bit on the finance side? Some applications propose to assign a coefficient to each one, according to its possibilities of the moment.

We have selected some of these applications for you to choose from according to your needs and expectations.

Sharing money among friends: the neobank solution

You like to keep it simple, and you don’t want to get bogged down? Kill two birds with one stone. Today, you can find a neobank that integrates a function for sharing money. Ma French Bank, specially designed for the millennials, offers the dedicated “We share” service, for accounts between friends. Simply fill in the expenses of each person, and at any time the breakdown is visible. We see what everyone has to pay back, and to whom. This can be done by express SMS, up to 200 euros. All you have to do is enter your account number (IBAN) and validate. What do we like about this neobank, one of the newest on the market? Its ease of opening from a smartphone, a computer, or directly in one of the 2000 post offices in a few minutes, and its ultra-low monthly fee (2 euros).

There are now about twenty neobanks in France, both French and foreign. Easy to access, they offer fast service from a mobile phone and meet the expectations of hyper-connected people. They are most often aimed at young people or self-entrepreneurs and the self-employed.

Our selection of free sharing applications.

Are you looking for another type of solution? There are other ways to settle scores between pals. Here are some applications.

Splid is a practical and flexible application, without creating an account. It works offline. Expenditure may be made according to the coefficients attributed to each participant. Are you an international group? It has a converter that can be discounted at current exchange rates. This makes it possible to know the amount of money spent in foreign currency. With its sharing link and an associated code, it is easy for everyone to enter their expenses and allocate the amount of reimbursements as they wish.

Tricount is particularly easy to use. It is also a very flexible application: you can make sure that only part of the group is affected by the reimbursements. Thanks to a sharing link, each participant can enter his or her expenses independently. The application can also be used with several currencies. Are you going abroad? Also remember to choose the right international mobile plan.

Pumpkin is an instant, free, 100% secure, instantaneous, pep-filled, buddy-to-buddy payment application. It was founded by three students from Lille.

Splitwise is easy to use. Notifications remind everyone of the repayment or payment deadlines. It is necessary to create an account.

Settle Up provides a detailed breakdown of everyone’s expenses to allow for faster payment. This includes the schedule of individual settlements. This application also has a conversion function, which is always handy.