How to Transfer Money from Splitwise to Bank Account?
Splitwise itself does not directly transfer money to bank accounts because it is primarily an expense-tracking app, not a payment processor. However, you can settle balances using Venmo, PayPal, or other payment services, and then transfer the money to your bank.
Steps to Transfer Money from Splitwise to a Bank Account
Method 1: Using Venmo (U.S. Only)
- Open Splitwise and go to the group or friend you owe money to.
- Tap “Settle Up” and choose Venmo as the payment method.
- Complete the payment through Venmo.
- Once the payment is in your Venmo balance, go to Venmo > Transfer to Bank and select Instant Transfer or Standard Transfer.
Method 2: Using PayPal (Global)
- Open Splitwise, go to your balance, and tap “Settle Up.”
- Choose PayPal as the payment method.
- Pay through PayPal using your linked bank or card.
- Once the money is in your PayPal balance, go to Wallet > Transfer to Bank and complete the withdrawal.
Method 3: Using Wise (International Transfers)
- Go to Splitwise and check how much you owe.
- Use Wise (formerly TransferWise) to send money to your friend’s bank account.
- Once the money is sent, manually mark the expense as “Settled” in Splitwise.
Alternative: Bank Transfers (Manual)
- If your friend doesn’t use PayPal or Venmo, you can send money directly through your bank (Zelle, UPI, SEPA, etc.) and manually mark the expense as settled in Splitwise.
🔹 Note: Splitwise does not move money, it only helps track and split expenses. You need to use Venmo, PayPal, or bank transfers to move funds.
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