Buddies/Housemates debts settling up

[acauan]

Hi
i didnt find any other thread in this.
My idea is to provide a tool to set up groups of shared spending (housemates, trips with friends, family) where often people end up lending money each other (lets say i pay the bill at the restaurant for you, and you’ll buy toilet paper for everybody…).
The idea is already implemented in the Android/IOS app Settle-up.
The trick is to implement a similiar framework inside Monzo, so I am able to settle up debts (wire money) to my buddies using Monzo.

[alexs (Alex Sherwood)]

This sounds a lot like the idea that was earlier discussed today (in a random thread) -

Targets - Custom Timeframes 1

Hey Andrew, Joint accounts are a common request service from Monzo users! The idea of having two accounts linked, which both users can access isn’t something we have any plans for, but lots of the features we’re working on look to replicate the most convenient aspects of shared accounts. Things like communal saving pots will be part of this in the longer term. Ultimately, we want to do one thing (current accounts) really really well, rather than offer a long list of financial products with com…

If saving pots were available, you could set one up for each user / bill to make payments from & keep track of who owes what that way.

Saving pots for individual users have been discussed here -

Virtual savings pot (automated)

I know this feature is pretty popular at the moment and well eventually see it come to really. (The feature I’m most looking forward too atm) but what I’m curious to know if this process could be made a tad more automated. I assume it will be a simple £100 goes into x pot until you stop it, but I was thinking if you could set it up to to fill to a specific limit. e.g if I wanted to save for the new iPhone I could set up a pot to save £100 every month until I reach that pots goal £600 (the price…

& here -

Virtual 'Savings' Accounts

Hey guys, Probably the one thing I’d most like from my bank -but which Mondo could potentially provide- is the ability to put money aside in labeled buckets… virtual savings account of sorts. The Issue (Example) It’s the beginning of the month, my salary’s just come in but I also get tons of bills and I know that I should put aside £50 to pay my electricity bill at the end of the month, £20 to pay that water bill… and I also ought to put £50 aside if I want to take that holiday in a couple of…

they’re on the roadmap.

This is also the sort of feature that a 3rd party developer could develop. Splittable could connect to Monzo’s API & feed in transaction data to avoid manual data entry.

[acauan]

This is the app I’m using now. Would be nice to be able to settle up via Monzo

[acauan]

I don’t like the idea of pots, we have few control over it. I like to commit my contributions. Maybe I can have an alert when I reach to owe an amount (example 50quid) and dispose a payment

[acauan]

Unluckily, Monzo is just for UK users, while Settle-up App is amazingly multi-currency! I dont know if they want to integrate Monzo’s API

[beningreenjam (Ben Green)]

Monzo are still testing EU and American cards AFAIK.

[alexs (Alex Sherwood)]

Ben beat me to it -

@alexs

(Monzo is “testing US dollar and Euro cards right now”

@acauan

I dont know if they want to integrate Monzo’s API

Maybe not right now (the API isn’t ready yet anyway) but once Monzo has enough users to make it worthwhile (70k & counting) why not?

This is (probably) all quite a long way off unfortunately, to be fair.

[acauan]

@alexs
As a developer, I would say is way easier and faster to build up a similar framework within Monzo

[alexs (Alex Sherwood)]

Maybe & maybe Monzo will build this feature but it has to fit into their product roadmap.

One way or the other, I expect you’ll eventually get the feature since you’re a developer, maybe you’ll end up building it!