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Shared accounts: Making money even more social

4 min read

Anyone who’s ever shared a house or apartment with someone knows: it’s easier to herd cats than to manage shared expenses. Who bought bread and milk? Who’s turn is it to buy electricity? Have you paid your share of the rent yet? Ugh. Kill me now. 

Or don’t. Help is at hand. Shared accounts are here to help you budget better. One account. Up to 10 people, managing their finances jointly. Everyone can top up and make payments. Everyone can see exactly what’s going on, in real time.  

Big win for couples and partners or the humans you live with. Or people who support other family members. Simply move your living expenses into the account, and voila. Money management made easy.

Download the latest Spot Money app to get access to this feature and more.

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And you know those trips away for a big group of friends? Huge fun. But someone has to keep track of expenses. Food. Accommodation. All the … ahem, associated expenses. Shared accounts make mixing money and friends a breeze. One shared account allows everyone to see instantly who paid what and where the money goes. No chasing payments afterwards. No strained friendships. 

The possibilities are endless. Household bills. Office coffees. Book clubs. Ride sharing. Ad-hoc school expense collections. We’re even thinking urban mini-stokvels, where groups of friends run joint savings or investment accounts, with full transparency into the account.  

You can’t share your Primary or Reward accounts. But you can share any (or all) of the three additional accounts you can create in the Spot app. And you can be a member of as many shared accounts as you like. 

Another big win: no monthly fees on shared accounts. Accounts can be created and shared instantly. Members can be added and removed in seconds by the shared account admin. All transactions are tracked in real time, with no surprises.   

How to create a Spot shared account  

Creating a shared account is a simple three-step process:  

1. Create a new account  

  • On the Spot app homescreen, swipe left from your Primary account until you get to the ‘ADD NEW ACCOUNT’ screen. 
  • Give your account a name, and click ‘Save’. 

2. Share the account 

  • Click ‘Account settings’ on the account that you want to share. 
  • Click ‘Share account’. 
  • Add the Spot contacts that you want to share the account with. 
  • Click ‘Next’. 
  • Your contacts will receive an invite to join the shared account, which they can accept or decline. 

3. Manage members (if you’re an account admin) 

  • Click ‘Account settings’. 
  • Click ‘Share account’. 
  • Add or remove members from the admin screen. 

Download the latest Spot Money app to get access to this feature and more.

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