Money transfer platform Wise has launched a new feature called ‘Spend with Others’ that allows users to share expenses with a group.
Available at no cost to Account customers in the UK, this feature enables users to create a group of family or friends for collective spending, whether for daily expenses or trips abroad. The group is established by an ‘owner’ who can invite up to four additional Wise customers. Each member can contribute funds and receive a digital Wise card, which can be used in over 160 countries across 40 currencies. Only the group owner has the ability to withdraw or transfer funds from the group account.
Max Bevan, product manager at Wise, notes, “People want to share their spending easily with those they trust, but they don’t want the formality that comes with opening up a joint account.”