diff --git a/src/libs/ReportUtils.js b/src/libs/ReportUtils.js
index 22118f992591..ba95961e983b 100644
--- a/src/libs/ReportUtils.js
+++ b/src/libs/ReportUtils.js
@@ -482,7 +482,7 @@ function isChatThread(report) {
  * @returns {Boolean}
  */
 function isDM(report) {
-    return !getChatType(report);
+    return isChatReport(report) && !getChatType(report);
 }
 
 /**
@@ -3617,18 +3617,23 @@ function hasIOUWaitingOnCurrentUserBankAccount(chatReport) {
  * - in an open or submitted expense report tied to a policy expense chat the user owns
  *     - employee can request money in submitted expense report only if the policy has Instant Submit settings turned on
  * - in an IOU report, which is not settled yet
- * - in DM chat
+ * - in a 1:1 DM chat
  *
  * @param {Object} report
- * @param {Array<Number>} participants
+ * @param {Array<Number>} otherParticipants
  * @returns {Boolean}
  */
-function canRequestMoney(report, participants) {
-    // User cannot request money in chat thread or in task report
-    if (isChatThread(report) || isTaskReport(report)) {
+function canRequestMoney(report, otherParticipants) {
+    // User cannot request money in chat thread or in task report or in chat room
+    if (isChatThread(report) || isTaskReport(report) || isChatRoom(report)) {
         return false;
     }
 
+    // Users can only request money in DMs if they are a 1:1 DM
+    if (isDM(report)) {
+        return otherParticipants.length === 1;
+    }
+
     // Prevent requesting money if pending IOU report waiting for their bank account already exists
     if (hasIOUWaitingOnCurrentUserBankAccount(report)) {
         return false;
@@ -3641,7 +3646,7 @@ function canRequestMoney(report, participants) {
     }
 
     // In case there are no other participants than the current user and it's not user's own policy expense chat, they can't request money from such report
-    if (participants.length === 0 && !isOwnPolicyExpenseChat) {
+    if (otherParticipants.length === 0 && !isOwnPolicyExpenseChat) {
         return false;
     }
 
@@ -3683,8 +3688,6 @@ function getMoneyRequestOptions(report, reportParticipants) {
         return [];
     }
 
-    const participants = _.filter(reportParticipants, (accountID) => currentUserPersonalDetails.accountID !== accountID);
-
     // We don't allow IOU actions if an Expensify account is a participant of the report, unless the policy that the report is on is owned by an Expensify account
     const doParticipantsIncludeExpensifyAccounts = lodashIntersection(reportParticipants, CONST.EXPENSIFY_ACCOUNT_IDS).length > 0;
     const isPolicyOwnedByExpensifyAccounts = report.policyID ? CONST.EXPENSIFY_ACCOUNT_IDS.includes(getPolicy(report.policyID).ownerAccountID || 0) : false;
@@ -3692,30 +3695,29 @@ function getMoneyRequestOptions(report, reportParticipants) {
         return [];
     }
 
-    const hasSingleParticipantInReport = participants.length === 1;
-    const hasMultipleParticipants = participants.length > 1;
+    const otherParticipants = _.filter(reportParticipants, (accountID) => currentUserPersonalDetails.accountID !== accountID);
+    const hasSingleOtherParticipantInReport = otherParticipants.length === 1;
+    const hasMultipleOtherParticipants = otherParticipants.length > 1;
+    let options = [];
 
     // User created policy rooms and default rooms like #admins or #announce will always have the Split Bill option
-    // unless there are no participants at all (e.g. #admins room for a policy with only 1 admin)
-    // DM chats will have the Split Bill option only when there are at least 3 people in the chat.
-    // There is no Split Bill option for IOU or Expense reports which are threads
-    if (
-        (isChatRoom(report) && participants.length > 0) ||
-        (hasMultipleParticipants && !isPolicyExpenseChat(report) && !isMoneyRequestReport(report)) ||
-        (isControlPolicyExpenseChat(report) && report.isOwnPolicyExpenseChat)
-    ) {
-        return [CONST.IOU.TYPE.SPLIT];
+    // unless there are no other participants at all (e.g. #admins room for a policy with only 1 admin)
+    // DM chats will have the Split Bill option only when there are at least 2 other people in the chat.
+    // Your own workspace chats will have the split bill option.
+    if ((isChatRoom(report) && otherParticipants.length > 0) || (isDM(report) && hasMultipleOtherParticipants) || (isPolicyExpenseChat(report) && report.isOwnPolicyExpenseChat)) {
+        options = [CONST.IOU.TYPE.SPLIT];
     }
 
-    // DM chats that only have 2 people will see the Send / Request money options.
-    // IOU and open or processing expense reports should show the Request option.
-    // Workspace chats should only see the Request money option or Split option in case of Control policies
-    return [
-        ...(canRequestMoney(report, participants) ? [CONST.IOU.TYPE.REQUEST] : []),
+    if (canRequestMoney(report, otherParticipants)) {
+        options = [...options, CONST.IOU.TYPE.REQUEST];
+    }
 
-        // Send money option should be visible only in DMs
-        ...(isChatReport(report) && !isPolicyExpenseChat(report) && hasSingleParticipantInReport ? [CONST.IOU.TYPE.SEND] : []),
-    ];
+    // Send money option should be visible only in 1:1 DMs
+    if (isDM(report) && hasSingleOtherParticipantInReport) {
+        options = [...options, CONST.IOU.TYPE.SEND];
+    }
+
+    return options;
 }
 
 /**
diff --git a/tests/unit/ReportUtilsTest.js b/tests/unit/ReportUtilsTest.js
index a29b2727c847..e0c98b1793f1 100644
--- a/tests/unit/ReportUtilsTest.js
+++ b/tests/unit/ReportUtilsTest.js
@@ -452,7 +452,7 @@ describe('ReportUtils', () => {
                 expect(moneyRequestOptions.includes(CONST.IOU.TYPE.SPLIT)).toBe(true);
             });
 
-            it("it's a group chat report", () => {
+            it("it's a group DM report", () => {
                 const report = {
                     ...LHNTestUtils.getFakeReport(),
                     type: CONST.REPORT.TYPE.CHAT,
@@ -465,17 +465,6 @@ describe('ReportUtils', () => {
         });
 
         describe('return only money request option if', () => {
-            it("it is user's own policy expense chat", () => {
-                const report = {
-                    ...LHNTestUtils.getFakeReport(),
-                    chatType: CONST.REPORT.CHAT_TYPE.POLICY_EXPENSE_CHAT,
-                    isOwnPolicyExpenseChat: true,
-                };
-                const moneyRequestOptions = ReportUtils.getMoneyRequestOptions(report, [currentUserAccountID, ...participantsAccountIDs], [CONST.BETAS.IOU_SEND]);
-                expect(moneyRequestOptions.length).toBe(1);
-                expect(moneyRequestOptions.includes(CONST.IOU.TYPE.REQUEST)).toBe(true);
-            });
-
             it("it is an expense report tied to user's own policy expense chat", () => {
                 Onyx.merge(`${ONYXKEYS.COLLECTION.REPORT}101`, {
                     reportID: '101',
@@ -520,15 +509,29 @@ describe('ReportUtils', () => {
             });
         });
 
-        it('return both iou send and request money in DM', () => {
-            const report = {
-                ...LHNTestUtils.getFakeReport(),
-                type: CONST.REPORT.TYPE.CHAT,
-            };
-            const moneyRequestOptions = ReportUtils.getMoneyRequestOptions(report, [currentUserAccountID, participantsAccountIDs[0]], [CONST.BETAS.IOU_SEND]);
-            expect(moneyRequestOptions.length).toBe(2);
-            expect(moneyRequestOptions.includes(CONST.IOU.TYPE.REQUEST)).toBe(true);
-            expect(moneyRequestOptions.includes(CONST.IOU.TYPE.SEND)).toBe(true);
+        describe('return multiple money request option if', () => {
+            it("it is user's own policy expense chat", () => {
+                const report = {
+                    ...LHNTestUtils.getFakeReport(),
+                    chatType: CONST.REPORT.CHAT_TYPE.POLICY_EXPENSE_CHAT,
+                    isOwnPolicyExpenseChat: true,
+                };
+                const moneyRequestOptions = ReportUtils.getMoneyRequestOptions(report, [currentUserAccountID, ...participantsAccountIDs], [CONST.BETAS.IOU_SEND]);
+                expect(moneyRequestOptions.length).toBe(2);
+                expect(moneyRequestOptions.includes(CONST.IOU.TYPE.REQUEST)).toBe(true);
+                expect(moneyRequestOptions.includes(CONST.IOU.TYPE.SPLIT)).toBe(true);
+            });
+
+            it('it is a 1:1 DM', () => {
+                const report = {
+                    ...LHNTestUtils.getFakeReport(),
+                    type: CONST.REPORT.TYPE.CHAT,
+                };
+                const moneyRequestOptions = ReportUtils.getMoneyRequestOptions(report, [currentUserAccountID, participantsAccountIDs[0]], [CONST.BETAS.IOU_SEND]);
+                expect(moneyRequestOptions.length).toBe(2);
+                expect(moneyRequestOptions.includes(CONST.IOU.TYPE.REQUEST)).toBe(true);
+                expect(moneyRequestOptions.includes(CONST.IOU.TYPE.SEND)).toBe(true);
+            });
         });
     });