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Settlement guide

How to settle group balances via Venmo, Revolut, or PayPal

The EvenRound team · EditorialPublished Updated 1 min read

Smart settlement gives you a payment plan. The actual money still has to move. Here's the cleanest path on each platform.

EvenRound computes the optimal settlement plan with the fewest transactions. From there, the actual money transfer happens on whichever platform the recipient prefers. Each has quirks: Venmo is US-only and social by default, Revolut is multi-currency and free between users, PayPal has fees on cross-currency. Pick the right one for the situation.

Steps

  1. 01
    Open the settlement plan in EvenRound

    From the group, tap Settle Up. The plan lists each payer → recipient with the exact amount.

  2. 02
    For US groups: use Venmo with the @username

    Tap the row, choose Venmo, enter the @username. EvenRound opens Venmo with the amount pre-filled. Add a memo (optional). Mark the expense as paid in EvenRound after Venmo confirms.

  3. 03
    For European groups: use Revolut tags

    Each Revolut user has a @tag. Tap the row, choose Revolut, enter @tag. App opens with amount pre-filled, sends instantly within Revolut. Free for cross-currency between users (small markup).

  4. 04
    For mixed groups: use PayPal Friends & Family

    Tap the row, choose PayPal. Use 'Friends & Family' (no fees) for personal transfers; 'Goods & Services' incurs ~3% fees and isn't appropriate for splits. Cross-currency conversion through PayPal has a 4% spread - Wise or Revolut are better.

  5. 05
    Mark the settlement as complete in EvenRound

    After the money lands, tap 'Mark as paid' in EvenRound. This zeroes the balance for that pair. If you skip this, balances stay 'pending' and Settle Up gets confused on next run.

Worked example

Mixed group settling with three different rails

Anna (UK, GBP) owes Diego (US, USD) £125. Eva (Spain, EUR) owes Diego €85. Faisal (UK, GBP) owes Diego £85. Anna and Faisal use Wise for cross-currency to avoid PayPal's 4%. Eva uses Revolut (free EUR→USD). Diego receives in USD. Settle Up shows three payments cleared, balance zero.

Smart settlement is the math; the rail you settle on is the user experience. Pick rails that don't extract fees and your settlements feel free.

Run Settle Up

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