Vivid Money introduces Shared Pockets

October 26, 2020
  • Shared Pockets offers users the opportunity to easily organize their finances together - without the hassle of opening a traditional joint account
  • In just a few steps, Vivid users can create Pockets with their own German IBAN and share them with friends and family
  • Each Vivid customer invited to a Pocket can connect both their own physical metal card and virtual Visa debit cards to Shared Pockets and make payments directly from them - no extra cards are required

Berlin, October 26, 2020 – Today, Vivid Money, the mobile financial platform for banking, saving, and investing, introduces the new Shared Pockets feature. Shared Pockets are sub-accounts to which Vivid customers can invite other users. Shared Pockets make it even easier for partners, friends, family members, or even colleagues to organize their finances together.

Unlike traditional shared accounts, which are time-consuming to open and set up, a shared pocket is created in just a few clicks. Up to five Vivid users can share a Pocket, which allows them to save money, spend money, and track all their transactions together. Whether it's a shared vacation among friends, a Christmas present for colleagues or shopping for groceries with life partners - with Vivid Money, shared banking is easier than ever.

Each Shared Pocket has a German IBAN which also makes direct debits possible. In addition, all users invited to the Shared Pocket can easily link their own Vivid Visa debit cards to it via drag-and-drop in the app and make payments directly from it. This is convenient for shared purchases and eliminates the need to pay back manually from Pockets. Vivid users can link both the physical metal Visa Debit Card and its virtual counterparts to Shared Pockets, so they don’t need an additional card for each pocket. Up to 15 Pockets can be created for free.

"Our goal is to fulfill all daily needs concerning money with one app. Joint banking plays a fundamental role here, and organizing shared spending should not be complicated. Our customers already love the Pockets with their individual German IBANs. With the new Shared Pockets, they can now quickly and easily share them with others and execute payments directly through them - without having to manually move money with each transaction," explains Alexander Emeshev, Co-Founder of Vivid Money.

Since the launch of Vivid Money in June of this year, the banking platform has regularly enhanced its functionality. With Subscription Control, Vivid Pay, and now Shared Pockets, Vivid Money goes one step further in its vision of combining all daily money-related requirements in one app. With the "Vivid Pay" service, customers can quickly and easily transfer money via cell phone and messenger, even to people who do not have a Vivid account themselves, without the cumbersome entry of long IBAN numbers. The AI-supported Subscription Control feature recognizes subscription payments, giving users an overview of their current subscriptions and regular payments.

Shared Pockets is now available for all customers on iOS and Android. Both Vivid Standard and Vivid Prime customers can invite other Vivid users to their Pockets.

About Vivid Money
Vivid Money is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid Money offers an easy, flexible, and transparent solution to grow your money. The company's mission is to provide customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts, and stock exchange) without unnecessary fees. Vivid Money was founded in 2019 by Artem Yamanov and Alexander Emeshev in Berlin and consists of an international, highly qualified team of more than 130 employees. TCS Group Holding PLC, a leading provider of online financial and lifestyle services via its Tinkoff ecosystem, has agreed to become an anchor seed investor.

For more information, please visit vivid.money