In the digital age, personal finance management has taken a step towards simplicity and convenience. Today, sharing expenses with friends, roommates or partners is easier than ever thanks to shared accounts. These innovative financial solutions are rapidly gaining popularity and offer a convenient way to manage and split shared expenses.
This makes it easy to keep track of shared expenses and avoid misunderstandings or late payments.
Now, how exactly do these shared accounts work? A joint account is a bank account specially designed to allow multiple holders to access and manage the funds in common.
Next, the comparator experts present three banks that offer shared accounts:
EVO Smart Account: With its intuitive and friendly interface, this account is an excellent option for those looking to simplify their shared finances. “The EVO Banco Smart Account is free, that is, you will not have to pay maintenance fees, it has a return of 2% APR the first year for the first 30,000 euros and admits up to two holders, so you can open it alone or with your partner, a brother, a friend…”, they add from HelpMyCash.
Once it has been opened, a second holder can be easily added through the bank's app. Each holder will have their free Smart Card. With this card, you can choose between paying by debit or credit.
The ING NoCuenta Account also admits up to two holders and each one will have their own debit card. Of course, the card is virtual, so to pay for purchases or withdraw money you have to associate it with Apple Pay or Google Pay. The account has no commissions or conditions and includes online purchase protection insurance and, in addition, allows you to manage subscriptions to Netflix, Amazon, Spotify, etc., from the app. Transfers with the ING NoCuenta Account have no commissions and arrive the same day.
The BBVA Online Account specializes in simplicity and ease of use. Its mobile app allows you to schedule recurring payments, like rent or monthly bills. In addition, it provides a clear overview of shared finances.
The BBVA Online Account has no commissions or conditions. The only requirement to open it is to contract it online and not already have an account open at the bank (it is only for new clients). The account admits up to two holders. Each one will have a completely free debit card to pay for purchases and withdraw money at more than 4,500 ATMs.
Shared accounts not only simplify financial management, but also encourage transparency and collaboration between account holders. Whether you share expenses with roommates, friends or your partner, these accounts offer an efficient solution to maintain optimal control of shared finances.
It's important to note that there are numerous shared account options on the market, with each bank offering unique features and benefits. "Before making a decision, we recommend you investigate and compare the different options available to find the one that best suits your needs and preferences," the experts recommend.
