We’ve all been there. One friend covers the Uber, another grabs dinner, someone promises to sort it later… but it never quite happens.
Money and mates? Awkward.
Monzo has offered bill-splitting for a while, but its new March 2025 release, Monzo Split, is a big step up aimed straight at the chaos of shared costs.
With this update, users can now choose between:
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Single Splits for one-off moments like meals or taxis.
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Running Splits for ongoing costs, think group holidays, household bills or festival planning.
Monzo Split brings structure to the mess. Create a tab, invite your group (even if they’re not on Monzo), log expenses, and track who owes what. Friendly reminders do the nudging so you don’t have to. And if you’re on a paid plan, you can even automate payments from connected accounts, no more chasing.
This isn’t just a product update. It’s a well-executed play into social finance.
Monzo’s CPO, Andy Smart, sums it up:
“We know that chasing your mates when they owe money can be awkward, but that shouldn’t mean that people miss out on getting paid back.”
Why it matters
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Monzo now serves over 9.7 million customers (March 2025), making it one of the UK’s most widely used banks for under-35s.
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1 in 5 Brits have fallen out with someone over unpaid money, according to YouGov. The social friction is real.
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Globally, the appetite for this kind of functionality is massive, Venmo processed $269 billion in social payments in 2023 alone.
What Monzo’s done well
It’s not just the evolution of a feature, it’s resolved a behavioural pain point that many overlook.
Splitting costs is emotional, not just transactional.
That’s why making it simple, structured, and socially smart matters.
