Why splitting expenses gets complicated
In a group of four, a trip can generate dozens of individual debts that crisscross in every direction. Without a plan, settling up means everyone venmo-ing everyone else, losing track, and still ending up with a wrong balance.
The naive approach — each person pays back every person they owe — can generate up to n(n−1) payments for a group of n people. For a group of eight, that's up to 56 individual transfers. Smart Settle eliminates the redundancy.
Real example: 4 friends, a weekend trip
Smart Settle works by computing a net balance for each person — positive if they're owed money, negative if they owe — then pairing the largest creditor with the largest debtor. Each currency needs at most one payment fewer than the number of people involved, and often fewer.
How Smart Settle works
Open your shared cashbook
Navigate to the cashbook where your group has been logging transactions. Everyone's contributions and shares are already tracked.
View Balances
Tap the Balances tab to see a live breakdown of who owes what. Net balances update instantly as new transactions are added.
Tap Smart Settle
Tap Run Smart Settle. Folko works out the fewest payments in milliseconds — the plan itself is computed on your device.
Choose your payment rail
For each suggested payment, pick from the payment apps the other person added, out of 19 supported methods. Folko opens the app or copies the details for you, and fills in the amount on the rails that allow it.
Mark as settled
Once the money is sent, record it: tap I paid if you sent it, or Record payment if you received it. Balances update for every member, and the cashbook keeps a Settlement history, where a wrong entry can be voided.
Settle via your preferred app
Folko never handles money directly. Instead, it opens or copies the details for whichever payment app your group already uses — so settlement feels as natural as texting someone their share.
Zelle
UPI
SEPA
Interac
Alipay
Bank transfer
Each member can add a different payment method. There's no requirement for the group to agree on a single app — whoever pays picks from the methods the other person added.
Works at any scale
Free tier — up to 4 members
Perfect for households, couples, and small friend groups. Full Smart Settle functionality included.
Plus tier — up to 30 members
Ideal for larger households, travel groups, sports teams, or office shared expenses. $2.99/month or $25/year.
Max tier — up to 100 members
For communities, clubs, and anyone managing shared finances at serious scale. $4.99/month or $42/year.
Frequently asked questions
Does Smart Settle work with different currencies?
Yes. Every transaction keeps the exchange rate from the day it was logged, so a cashbook's balances are in its base currency. Smart Settle works out the fewest payments from those balances, and it never adds amounts in different currencies together. Free allows 3 currencies per cashbook; Plus and Max are unlimited.
How many members can use Smart Settle?
Smart Settle works for any number of members within your tier's limit. Free cashbooks support up to 4 members. Plus tier raises this to 30, and Max tier supports up to 100 members per cashbook. The algorithm handles any group size efficiently.
What payment methods are supported for settling?
Folko supports 19 payment rails including PayPal, Venmo, Cash App, Pix (Brazil), UPI (India), Zelle, Mercado Pago, SEPA (Europe), Interac (Canada), and Bizum (Spain). Folko never handles money directly — it opens the app you choose or copies the payment details for you. Lightning needs Max.