Money service provider Wise recently rolled out a new feature that will now be available to UK users. Known as ‘Spend With Others,’ the feature will allow users to share spending with a group of others.

According to the money transfer provider, the feature is available to UK customers for free. If they choose to use it, they will be able to set up a group of family or friends and spend together with them, straight from Wise.

This will let users split pretty much any payment, be that everyday costs, paying for bills, or even financing trips abroad.

How Does It Work?

Each group will be set up by one person who will be the so-called ‘owner.’ They can then choose to add up to four people, including anyone they wish, be they a family member, a friend, a coworker, or otherwise. All that is required is that the added individuals are also Wise users.

From there on, those participating in the new group spending feature can add money and get a digital Wise card that they can use to spend it from a shared budget. The card can be used around the world, in over 160 countries.

The joint accounts will also support 40 different currencies, allowing users to add money in any form they want as long as it is on the list of supported assets. However, when it comes to withdrawing the funds or sending them from the group account, only the group owner will be able to do so.

Wise’s product manager, Max Bevan, commented on the new feature, stating that there are many people who want to share their spending with others they trust in a simple way. However, something like that was not exactly available until now.

Those who attempted to establish shared spending had to open official joint accounts, which came with certain formalities and obligations, and very few were willing to commit to it. Wise’s new feature will make things much simpler and more casual, which is why the company expects the feature to become very popular among customers, friend groups, travelers, families, and others.