We all have different personalities when it comes to money on a holiday. There’s the planner – the one who’s booked and budgeted so that the plans could make it out the group chat. There’s the money saving expert who wants to get the best deal possible, the one with expensive taste, and there’s always a “pretty passenger” who pops their head up at the last minute, asking “Who do I owe?”
These varied attitudes towards money can lead to awkwardness, frostiness and even full-blown arguments on group holidays.
Not ideal when you’d rather be basking in the sun with a glass of something chilled and enjoying each other’s company.
So, if you’re hoping for a stress-free trip with friends or family this summer, read on for four ways to cut the risk of friction around finances.
1. Settle bills in a few taps with Split the Bill
If you picked up the tab for last night’s meal or multiple rounds of margaritas, there’s no need to awkwardly chase everyone for their share of the bill.
If you’ve all got Monzo, tap on the transaction you want to split, choose ‘Split this Bill’ and select people to split the bill with. You can adjust each person’s share, which is handy if some had a starter, when others didn’t for example.
Tap ‘request money’ and your friend(s) will receive a notification saying how much they owe, and can pay you back straight away.
2. Send a payment link if someone’s not on Monzo
You can still split the bill with non-Monzo users. After you’ve tapped ‘Split this Bill’, tap ‘Next’ then ‘Add someone not on Monzo’. Tap ‘Request Money’ then ‘Share a request’ link and choose how you want to send it. We’ll generate a Monzo.me link, which they can use to pay.
P.S. It’s easy to refer friends to join Monzo (and you’ll both get £5 as long as they sign up and make a card payment within 30 days).
3. Multiple bills with the same friends? Start a Shared Tab
You and your holiday pals can group multiple transactions together, say how much each person’s share of individual bills was, and work out who owes what using the Shared Tabs feature – even if not everyone has Monzo.
Create a Shared Tab for the holiday and settle everything once you’ve landed back on home turf.
No need to get your calculators out at the end of the night, add individual bills to the tab as you go and we’ll do the maths for you.
4. Use payment reminders to avoid awkward conversations
Asking people for the money they owe you can feel uncomfortable. Especially when someone has mysteriously missed your bill split requests multiple times.
If friends are taking ages to pay up, you can skip the awkward message and send a payment reminder through Monzo.
Tap on the ‘Payments’ tab, scroll to ‘Bill splits and requests’ and tap on the payment request. Then tap ‘Send payment reminder’ and it’ll give your friend a gentle nudge.
Awkwardness around money and bill splitting can really affect the vibe of a holiday. But by using these features, we hope you’ll be able to focus on having a fun and relaxing trip with friends instead.
To apply for a Monzo current account you must be a UK resident. Ts&Cs apply.