Splitwise is one of the best platforms through which friends and family members can share expenses without hassle. For someone who does not know how to pay on Splitwise, do not worry, as we are here with the answer.
How to pay on Splitwise?
You cannot directly pay on Splitwise, as it is not an app that handles real money, and it is there for you to track how much you owe to others. But users from the US can transfer money from Splitwise with the help of third-party payment apps.
You will have to click the option “settle up,” and you can see multiple options like cash, PayPal, or Venmo. It would be best to know that some options like Venmo only appear when the app is already on your phone.
How to use Splitwise?
The steps to use Splitwise are pretty simple. They are –
- First and foremost, you’ll have to sign up and create an account.
- Create a group or multiple groups and include people you often mingle with.
- Now provide accurate contact information of everyone to be included in the group.
- Here everyone can personalize their expenses which is why you can also add non-group expenses that don’t deserve payment from others.
- After going to the group, you will see the ‘add bill’ button, and after pressing it, the app will ask you various questions like the total cost, who paid, and how much each individual still owes.
- You can add notes, pictures, and dates in another section.
- Then you can save the bill, and Splitwise will let everyone know about their dues.
What are the features of Splitwise?
- Through Splitwise, you can split a particular bill amongst a group of people equally by applying percentages.
- There are almost 100 plus currencies to choose from.
- It has a payment option that includes Venmo, PayPal, etc.
- Their ‘simplified debts’ option solves debt triangles by minimizing transactions.
- They keep track of the total balance instead of recording individual expenses.
- Some other features include currency conversion, receipt scanning, graphs, etc.
1) How do you accept payments on Splitwise?
Just link your Splitwise email with your Venmo account as a secondary address, and you will be set.
2) Does Splitwise charge a fee?
No, it does not charge a fee, but the 3rd party apps it uses for payments might charge a fee.
3) Does Splitwise connect to a bank account?
No, it does not connect to a bank account, as Splitwise does not handle money.
4) Where is the ‘settle up’ button on Splitwise?
In the dashboard, the ‘settle up’ option will be in green and should be located above the list of balances.
Wrapping It Up
Splitwise is excellent for anyone on the go, with little time to sit, calculate everyone’s share, and keep track of it whenever they go out with friends or family. And the best part is it also gives multiple payment options and the exact amount one needs to pay.