Seven of the best money-splitting apps

These apps, including Monzo, PayPal and Revolut, make splitting bills, rent payments or expenses much less of a chore. Read More...

Splitting expenses among friends, family, or roommates can be challenging, but with the growing popularity of money-splitting apps, managing shared costs has become simpler and more efficient.

Whether it’s dividing the bill after dinner, coordinating rent and utilities with housemates, or balancing travel expenses for a group trip, these apps can streamline the process.

Several standout apps have made it easier to stay on top of shared finances. Here’s a look at seven of the best money-splitting apps.

Monzo has quickly become one of the most popular banking apps in the UK, especially given its money-splitting features. Monzo’s Split this Bill function allows users to easily divide costs directly through the app.

Advantages

Monzo offers bill splitting with Monzo contacts and automatically tracks payments, making it ideal for group expenses like dinners, holidays, or shared bills.
The “shared tabs” feature is great for ongoing group costs, and users can request money from non-Monzo users via a link.
The app features a user-friendly interface.

Disadvantages

Full functionality is limited to Monzo users, with non-Monzo users receiving a less integrated experience.
It’s UK-centric, limiting its scope for non-UK residents.

Best for: UK users who already use Monzo as their primary bank account and need to split costs within the app.

Splitwise is one of the most well-known money-splitting apps globally. It’s designed specifically for managing shared expenses and works well for both small, casual events like dinners and larger, ongoing expenses like rent.

Advantages

Splitwise allows flexible cost splitting among multiple people with varying contributions, ideal for both casual and ongoing expenses.
It tracks balances over time, letting users settle multiple expenses at once, and integrates with PayPal (PYPL) for easy payments.
The app syncs across devices for easy access and works globally, making it suitable for international users.

Disadvantages

It lacks a built-in payment system and requires manual tracking of payments made through external platforms.
Advanced features such as automatic currency conversion are only available in the paid version.
May feel too complex for occasional, simple transactions.

Best for: Friends, roommates or couples who share ongoing expenses.

Group of cheerful friends toasting with drinks while having lunch together in a restaurant. — Whether it’s dividing the bill after dinner or coordinating rent and utilities with housemates these apps can streamline the process. · Drazen Zigic via Getty Images

Revolut offers more than just money-splitting — it’s a comprehensive financial app that includes budgeting tools, currency exchange, and bill splitting. The app’s “group bills” feature lets users divide expenses, track outstanding amounts, and pay users back directly.

Advantages

Revolut works in multiple currencies making it ideal for international travellers.
The group bills feature simplifies splitting expenses, tracks outstanding amounts, and allows direct repayments.
Instant payments between Revolut users speed up settlements.

Disadvantages

Full functionality is limited to Revolut users, and non-users may face delays.
The app can feel complex for occasional users, and certain services incur fees.

Best for: International travellers and Revolut users who want an all-in-one banking solution.

Snoop is a growing UK-based financial app focused on helping users manage their money better. It doesn’t just split bills but offers a shared spending tracker that’s perfect for households.

Advantages

Snoop tracks shared household expenses, making it ideal for families or flatmates.
The app automatically suggests better deals for services like energy or broadband, helping users save money.
It provides spending insights, helping groups budget effectively.

Disadvantages

Snoop is UK-focused, limiting its usefulness outside the UK.
It’s primarily designed for household expenses, not one-off bill splits.
The app lacks direct payment integration, requiring users to settle payments separately.

Best for: Families or flatmates who want more than just bill-splitting. It could be used for managing and optimising overall household expenses.

Tricount is perfect for trips, group outings, or any event where costs need to be split among several people. It allows users to easily log shared expenses.

Advantages

Allows users to send a link for tracking expenses, making it easy for everyone to participate without needing to download the app.
Particularly effective for managing costs during group holidays, festivals, and weekend trips.
Features an intuitive interface for quickly logging and managing shared expenses.

Disadvantages

Best for: Group holidays, festivals, and weekend trips where expenses are shared among multiple people, including those without the app.

Young couple using smartphones to transfer money — The growing popularity of money-splitting apps has made managing shared costs simpler and more efficient. · MoMo Productions via Getty Images

Emma is another UK-based app focused on managing personal finances, but its bill-splitting feature adds to its utility for shared expenses. You can split any transaction in the app with friends or roommates.

Advantages

Emma combines bill-splitting with personal finance management, allowing users to track shared expenses alongside their overall financial health.
The app can integrate multiple bank accounts and budgeting features, providing a holistic view of users’ finances in one place.
Users can split any transaction and the app syncs with bank accounts and credit cards for easy tracking.

Disadvantages

Emma is primarily designed for the UK market, which may limit its usefulness for international users or those looking for global support.
Users may find the app’s range of features overwhelming at first, especially if they are new to personal finance management.

Best for: Users who want to keep all their financial information in one place, combining personal finance management with expense-splitting features.

While PayPal may not be the first app that comes to mind for bill-splitting, it remains a popular option due to its simplicity and widespread use. PayPal’s “request money” feature allows you to quickly ask friends or family for their share of any expense, and it works across borders.

Advantages

PayPal allows users to quickly request and send money using an email or phone number, making it straightforward to split expenses.
PayPal works internationally, making it ideal for splitting costs with friends or family abroad without currency conversion hassles.

Disadvantages

While sending money is often free, PayPal may charge fees for certain types of transactions, such as international transfers or credit card payments.
PayPal lacks robust expense-tracking features, making it less suitable for users who want detailed insights into their spending habits.

Best for: Users who want an easy way to split bills and request payments, especially across international users.

Read more:

Download the Yahoo Finance app, available for Apple and Android.