Revolut vs Cino for split bills and shared expenses

August 11, 2023

Revolut vs Cino for split bills and shared expenses

In the ever-evolving world of fintech, we're constantly witnessing innovative features designed to streamline our financial lives. One such addition is Revolut's "group bills" feature, which allows users to split bills with their contacts. While this advancement certainly brings convenience, we can’t help but wonder, what’s missing? The new feature still falls short of the ultimate goal: effortless and seamless group payments.

Exploring Revolut's "Group Bills" Feature:

Credit is given where credit is due. Revolut's "group bills" feature is a step in the right direction. It enables users to select a transaction, choose the contacts they want to split it with, and allocate the amounts accordingly. This approach reduces the manual effort required in traditional methods like Splitwise, where each cost needs to be meticulously tracked and typed in. However, there are downsides that prevent it from achieving true simplicity.

Revolut’s Pros & Cons

1.   Con: Revolut's "group bills" still relies on one person initially paying for the expense. This means that someonehas to take the responsibility of covering the cost and then go through theprocess of adding the transaction to the group. While this may be convenientfor smaller expenses, it can become cumbersome when dealing with largertransactions or frequent group payments. It’s not ideal forthose group trips, large shared expenses, and similar.

2.   Pro: You can send split bill request to anyone in yourcontact list and it’s not limited to Revolut users. Payment is easy to applepay / google pay and it makes the process quite straight forward.

3.  Con: You still have to calculate who owes how much. The process ofdetermining the amounts can be time-consuming. It requires users to analyze anddivide the cost among the participants, which can be subject to errors ordisputes. This manual calculation and allocation can create confusion andpotential friction within the group.

Let's cut to the chase here: the whole point of these fancy features is to make our lives easier, right? But the more hoops we have to jump through, the more chances for slip-ups and gaps in the process. It's like a never-ending game of finding third-party apps to patch up the holes. Take Splitwise, for example. People are resorting to using other apps just to help them input transaction details. Can't we all agree it's time for an all-in-one solution? Let's bid farewell to those cringe-worthy post-pay moments where everyone's scrambling to remember what they owe. It's time for simplicity and sanity in the world of shared expenses!

4.   Pro: Manage splitting inside Revolut app. You can choose who to split with from your contact list and choose the amounts per person. It’s not easy to create a more straightforward solution than this is. Well, maybe if you eliminate the need todo that for each payment all together.

5.     Con: It’s not an unique feature for Revolut and it’s essentially using an existing expense as baseline for asking for payment. Most of bank apps have a this „asking for payment“ feature which is very similar but isn’t connected to an existing expense. Revolut does it bit differently and better as they have name the feature Split Bills but it’s still essentially a „asking for payment“ feature. It’s great that this one is not limited to other Revolut's users and you can simply use apple pay to pay for it.

Our semi-biased option: Cino is better for shared expenses and splitting bills

This is where Cino steps in and revolutionizes the group payment experience. With Cino, there's no need for one person to foot the bill or for participants to manually add transactions and calculate amounts.  Cino's innovative approach allows users to link their own accounts directly, eliminating the need for intermediaries or to split each and every payment. You can effortlessly pay together in real-time, with each member selecting their desired splitting ratio or amount.

While we aren’t a banking app, we connect well with the bank cards. Cino's seamless integration with your bank accounts or cards ensures that shared expenses are split and reflected in your individual financial records. No more juggling between multiple apps or dealing with complex calculations. Cino's user-friendly design gives you a good overview about group expenses and across different groups. This makes paying together a hassle-free experience.

Moreover, Cino caters to a wide range of group dynamics, not just couples or close friends. Whether you're traveling with friends, sharing expenses with roommates, or organizing group events, Cino provides the ideal platform for managing shared finances. Its flexibility, convenience, and emphasis on real-time payment make it the superior choice for those seeking effortless group payments.

While Revolut's "group bills" feature represents progress in the world off in tech, it still falls short of delivering the simplicity and ease that Cino offers. Cino's different approach revolutionizes the concept of paying together, eliminates unnecessary steps in and out of apps, and ensures accurate and instant transactions. Say goodbye to the complexity and annoying issues of traditional group payments and embrace the future of effortless bill-splitting with Cino.

If you're head-over-heels into Cino now, download the app and see the step-by-step guide to get started.


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