Monobank has launched shared cards for families: how it will work.

According to inkorr.com: Monobank has presented a new opportunity in its application - shared cards for family use. Users no longer need to constantly transfer money or hand over a physical card for purchases from a single budget. They just need to update the app and give access to their card to a loved one.

This was announced by the bank's co-founder Oleg Gorokhovskiy.

Gorokhovskiy noted that the card owner can set a monthly spending limit, and the access recipient will receive a separate card with its own number, but a shared balance.

“Previously, we had to transfer money to each other or pass the card - this was somewhat annoying. Starting today, everything has become simpler,” he emphasized.

How the new feature works: shared cards

1. The card owner grants access in the app and sets a limit.

2. The recipient receives a separate card with a unique number.

3. The balance is shared, but expenses are visible differently:

• the owner sees all transactions;

• the user sees only their own;

• access can be closed at any time.

Gorokhovskiy emphasized that the mechanism complies with legislative requirements, and spending control remains transparent. This innovation simplifies managing a shared budget for families, couples, or close people.

Monobank made this feature the first in Ukraine

This is the first solution on the Ukrainian market that officially and conveniently allows sharing expenses, avoiding additional transfers and risks associated with handing over a physical card. The feature is already available to all users after updating the app.

Thus, Monobank is implementing an innovative approach to budgeting together, opening new opportunities for families and close people who wish to save time and effort in settlements. This innovation can significantly simplify financial interactions in various cases, from family expenses to joint purchases with friends.