Bangalore-based Fibbl bills itself as a neobank that allows couples to manage money as a team. The banking solution allows users to open an account instantly, and multiple bank accounts can be folded into its app. Once opened, each half of the couple gets their own physical card as well as virtual cards on their mobile device. Users don’t have to maintain a minimum balance, nor are there any hidden fees. The app allows for shared budgeting and pooling money, and couples can create milestones and targets and track their progress.
The app will notify users when they are about to hit their self-determined limits and pools money based on a ratio of contributions. The tracking aspect leans on spending categories and also provides insights into how to save more money. Fibbl claims that, on average, a couple will save INR 28,000 (£277) annually using the app. The app also boasts green credentials – every card transaction contributes to the planting of a tree. The neobank is currently accepting applications to sign up.