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The Best Shared Bank Accounts: Comparing Mobile-First Joint Bank Accounts in European Banks

Sharing expenses can be a tricky task, and petty arguments over money can sometimes ruin a good relationship. Whether you are moving in with your partner or sharing recurring expenses with your housemates, there are mobile banks in Europe that offer solutions to this problem.

They provide specific products aimed at making shared budgets less of a nightmare.

Below, we will discuss important aspects to consider when choosing a shared bank account, subtle legal differences in their types, and our suggestions on what the best joint bank account is.

How to Select the Best Bank for Your Joint Account?

Sharing a bank account requires a bit of extra responsibility, so you must not take this decision lightly.

Here are three things to consider when making your choice:

  1. How do you want to use your joint account?

First of all, you need to decide how you want to use your joint account. Some mobile banks offer features like “Group Vaults” from Revolut that help you manage shared expenses or start saving together.

However, these are not “real” bank accounts, so you cannot set up a direct debit for utility bills or make a significant purchase directly from them. Therefore, you would also not be able to get a bank card attached to them.

2. How easy is it to get one?

Traditionally, the process of getting a joint bank account has been time-consuming and inefficient.

However, thanks to digital banks, a large portion of the complexity involved in opening a joint bank account are now gone.

It is as easy as downloading an app and verifying your identity from the comfort of your couch.

3. The legal implications

Not many people know that there are two main types of shared accounts: an account that is co-owned by multiple people and an account owned by one person to which the other(s) have access.

If you are comfortable having all the shared funds residing in a bank account you own, you can choose the latter. On the other hand, co-ownership means that if you wish to close the account, the approval of all co-owners is required.

Our Verdict: The Best Banks for Shared Banking

Below are three digital banks we recommend if you are in the market for a solution to manage your shared expenses or save together:


Bunq provides an impressive level of flexibility when it comes to sharing a bank account. It offers a full-fledged shared bank account, as well as smart features for group expenses.

There is a variety of options that can fit your needs. For starters, you can open a joint bank account directly from the bunq app – whoever you’re sharing it with won’t even need to be there. Moreover, you can invite up to 10 people to join your bunq shared bank account, giving you a wide range of options.

Lastly, bunq users enjoy up to three cards included in their subscription, and you can have a separate card that is linked to your joint account.


Revolut gives users features that directly address the issues they’d otherwise solve by having a basic joint bank account. For couples, this is a great option to take a step in the right direction in case you are not yet ready for the legal commitment of sharing a bank account.

The “Group Bills” feature works like a charm when dealing with expenses. You can add your friends to a Group Bill, and everyone can now add expenses to the bill, which can be split and paid for in an instance. You can also create a “Group Vault” where you and the people you add can start saving for a big purchase together.

All in all, Revolut joint account is a strong contender for the best shared bank account nomination.


If you’re looking for a simple way to manage shared expenses and savings, Monese may be the solution for you. With a Monese Personal account, it’s easy to start a joint account and receive bank cards with a split design for purchases from your shared account.

You can even create a joint pot to save up for big expenses with your partner. While Monese may not offer the most powerful features, it’s a great choice for those who prioritize simplicity.

Joint Bank Accounts – here’s what to consider

When considering a joint bank account, it’s important to define your requirements first. Do you need multiple cards? Will this be an account for frequent purchases?

You’ll also need to decide if you want a standalone account with a separate IBAN, or a “virtual” account like Revolut’s “Group Vault”. Ownership rights are another important factor to consider, especially for tax purposes.

Do you want a single owner account or a joint account owned by everyone involved? It’s essential to do your research and read reviews and comparisons before making a decision.

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