N26's best features for shared living

N26's best features for shared living

Manage finances, split bills, and save for goals together.

OCTOBER 24, 2024

4 min read

When it comes to shared living, where expenses can be as unpredictable as your roommate's cooking experiments, your N26 account can be an unexpected ally. The N26 app has a host of easy-to-use features for keeping your shared flat finances in order — no headaches, no passive-aggressive post-it notes, just financial simplicity.

Avoiding awkward moments with Split the Bill

Let's talk about splitting bills‌ — ‌not exactly the highlight of any shared living situation, right? Whether you’re going together on a new piece of furniture or a surprise gift for a mutual friend, the Split the Bill feature makes those quickly forgotten "I'll pay you later" promises a thing of the past. From rent to road trips, every shared expense can be easily managed within the N26 app. With just a few taps, you can add everyone involved in the joint purchase — N26 customer or not — and decide whether to split the bill down the middle or assign custom amounts. The real cherry on top? For those group evenings out, forget about persuading the server to split the check six ways. Simply use Split the Bill to instantly settle costs, saving you from the post-dinner math quiz.

Pay back your flatmates in a flash

MoneyBeam allows instant, free bank transfers between N26 customers, whether you’re friends, roommates, or partners. Designed for convenience and speed, MoneyBeam eliminates the hassle of getting bank details — all you need is a phone number or email address. Use MoneyBeam to pay for shared expenses, settle a restaurant bill, or request money from another N26 customer. It’s the perfect way to balance the books. And even if your landlord doesn’t bank with N26 (yet!), you still benefit from instant bank transfers to accounts in the SEPA area.

Shared Spaces: your home's financial hub

If you’re a Smart, You, or Metal customer, you probably know you can create up to 10 Spaces. But did you know you can also start Shared Spaces and invite up to 10 people to join? Here, you can all contribute to recurring expenses, save for a group goal, or simply keep track of who’s paid what. Whether it's pooling money for next month's utilities or that smart TV everyone's been eyeing, Shared Spaces is your go-to for managing collective expenses or savings goals.Plus, Spaces come with additional features that can simplify shared finances. For example, Insights breaks down your shared spending into neat categories over the past six months. It displays not just how much each person contributes but also how the money's being spent. And for those who love details, each Shared Space now comes equipped with its very own IBAN for direct debits and standing orders.

A joint account to rule them all

Some cohabiting couples prefer to manage finances from a single shared account. Here, the N26 joint account is the perfect solution. Shared bills? Sorted. Date night? Covered. Last-minute anniversary gifts? Handled…perhaps. Now, every payment is drawn straight from your pooled resources.The beauty of an N26 joint account is in its simplicity. It’s a shared financial platform that both of you co-own, equipped with a dedicated IBAN for managing everything from the monthly rent to those impromptu grocery runs.

Set it, forget it, and never miss a rent payment with Automations

If you’ve ever shared an apartment, you know that keeping up with rent and bills can sometimes feel like a full-time job. It's not hard to lose track of the electric bill, the internet, and that upcoming group vacation. That’s where N26’s Automation features come in.First, with Income Sorter, you can automatically move set amounts or percentages of your paycheck into different Spaces — be it for joint savings, a personal savings goal, or the monthly rent. It's like having a smart assistant who's always on top of your finances, ensuring you're saving regularly and responsibly.Then there’s the Rules feature, which lets you automate your whole budget, no matter what your income situation is. Simply set up automatic transfers between your Spaces based on date and frequency. Voilà: You've got a seamless system for managing everything from rent to recurring subscriptions. And because Spaces come with their own IBAN, you can even set up direct debits that come straight out of the dedicated Space. No more frantic scrambling to check if you set aside the funds for your phone bill or if your Netflix payment went through. With Rules, you get peace of mind and complete control over your budget.

Your money at N26

Ready for shared living expenses to be a breeze? With N26’s Spaces sub-accounts, you can effortlessly create joint Shared Spaces, while Insights allows you to organize your finances, track your spending, and set budgets. Plus, push notifications help you monitor your account activity in real time, empowering you to take care of your financial well-being. Opening an account with N26 takes just a few minutes, and there’s no pesky paperwork. Achieve your goals and build a more secure future today with an N26 account.