N26, one of Europe’s largest digital banks, has introduced MoneyBeam for its UK users, allowing them to send money instantly to fellow N26 users.

The digital bank conducted research which exposed the contentious nature of splitting bills, as more than a quarter (27%) of UK adults regularly take the hit and pay the tab in full just to avoid an argument.

MoneyBeam lets users receive or transfer up to £100 with other N26 users in the UK.

“Hardly anyone carries cash anymore and sometimes you just really need to ping someone £5 for your lunchtime sandwich or pay your share of the monthly bills. With MoneyBeam, our users can bypass the admin and cut straight to their contacts to send money and split bills via the N26 app,” says Will Sorby, UK general manager at N26.

N26 has more than 3.5 million customers in 24 markets across Europe who currently hold over €1 billion in accounts and generate over €1.5 billion in monthly transaction volume.

The bank has raised more than $500 million from several investors, including Insight Venture Partners, Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, in addition to members of the Zalando management board, and Redalpine Ventures.