Bunq simplifies group payment tracking and adds analytics
European challenger bank Bunq is announcing a handful of updates today. You now get a better overview of your account with more insights on how you spend money. If you’re going on vacation with someone else, you can now choose to automatically add transactions to a Slice Group. There are also improvement to VAT management for business users.
Slice Groups are shared accounts for owners of the Bunq Travel Card. You can create a group with multiple Bunq users and then add expenses to the group. You can’t add money to a Slice Group directly. It is essentially a group accounting feature that lets you keep track of who paid for what, who has a positive balance and who has a negative balance.
While you could easily add Bunq transactions to a group, you still had to manually add them every time there are some new transactions. You can now turn on AutoSlice, a feature that lets you temporarily add all card transactions to a Slice Group.
In other news, Bunq wants to give you more information about your spending habits. It starts with a new feature called Bunq Insights. As the name suggests, your payments are now automatically categorized
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