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Splitwise is a free smartphone app that allows users to easily split bills with friends and family. Whether sharing a holiday, splitting rent or paying someone for lunch, Splitwise makes sorting out bills hassle-free. The platform is available for both Android and iOS, as well as on the desktop.

 

Sharing the payment while on holiday can be a stressful business, particularly when so many different scenarios in which it is necessary to split the bill come up, such as renting accommodation, getting a taxi, buying a meal out or simply purchasing a round of drinks. One of my biggest problems is that I tend to forget precisely how much I owe people and therefore I find Splitwise’s email reminders to be a great feature. The platform will send you a notification directly to your inbox if you are overdue on paying someone back, helping you keep on top of all your IOUs while away.

 

Another great feature I have come across when using Splitwise is their Fairness Calculator. With this, you can calculate everything, from how you should split rent in a new apartment to how much you and your friends should each pay for a holiday away. This helps to give a rough indication of varying costs across a range of different items so that nobody ends up out of pocket. The feedback and helpdesk section also provides useful articles on a whole host of related topics, divided up into categories to help you quickly find what you’re looking for.

 

One issue I found with the app, however, is that it does not handle currency exchange rates like other similar platforms. This means that if you have paid in a foreign currency, you will have to work out the exchange rate separately to find out exactly how much it would be back home.

Pros
  • Email notifications remind users of due payments
  • Fairness Calculator provides indication of how much you or someone else should pay for different items
  • Feedback and helpdesk features useful articles for money-related topics
Cons
  • No inbuilt currency exchange converter
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