Revolut has announced the launch of its Group Bills solution to track, split and settle up expenses in one centralized place. The expense splitting feature is designed to help manage group expenses.
Customers can add bills to their groups, track transactions and review balance. It makes splitting bills easy and makes deciding how much of a bill each person needs to pay back. All they have to do is customize their Group Bills with a name and photo.
Revolut Group Bills
Instead of splitting one bill at a time, Group Bills allows customers to add bills to their group and track them all in one place. This helps in tracking and managing household expenses as well as expenses among friends and colleagues. When settling up they can do so using the app, with instant transfers when customers are both using Revolut. Customers will only need to send a payment reminder and Revolut will send an automatic notification to the friend about the payback.
Simplifying the Way Payments are Made
Group Bills promises to ease the management of group expenses. Instead of splitting one bill at a time, the platform allows customers to stay on top of shared expenses within groups.
Group Bills helps make transferring between accounts seamless provided that users are on Revolut. According to the fintech company, fund transfers come with no hidden fees. It also allows for purchases of cryptocurrencies and trade in stocks amongst the 12 million Revolut customers.
Users can also manage their finances with it as well. They can set their budgets, get instant notifications and get weekly insights on their spending. The feature allows users to connect their other bank accounts to Revolut and manage their finances in one place. Additional perks include the ability to send and request money from friends, family and colleagues.
Revolut gives users rewards and discounts when they shop, dine out and travel. Travelers can withdraw cash abroad without incurring extra charges. This comes in handy for business travel or working lunches.
“From two to twenty people, splitting group expenses has never been easier. To get started, Revolut customers simply need to update their app to the latest version (7.9), then tap on Group Bills in the Payments tab to start tracking their group expenses”, said the company.
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