Revolut, the global financial super app with more than 20 million customers worldwide, has revamped its service for kids ages 6 to 17. “Revolut <18” is a youth account, linked to the parent/guardian’s Revolut account, that helps young people feel positive and empowered about money, giving them a useful financial edge in life.
Revolut <18, renewed new service for underage users
Formerly called “Revolut Junior,” Revolut <18 will now offer its young customers the chance to unleash their creativity by personalizing their payment card by adding a design, text, and even emoji, making it unique, just like them.
Using end-to-end security and in-app card controls, Revolut’s young customers can securely monitor their in-app activity and receive instant spending alerts to stick to a budget and build healthy financial habits, as well as set savings goals. In addition, the parent or guardian receives instant notification whenever the <18 card is used.
Parents and guardians can set an “allowance day,” but they can also set challenges that kids must complete receiving rewards. And during youth afternoons, a brand new feature will allow them to tell their friends “Revolut me!” to send and receive free money to other users on Revolut <18.
Tara Massoudi, General Manager of Premium Products at Revolut, said:
“We are pleased to introduce Revolut <18 to new and existing customers. The new yellow design of Revolut <18 is energetic, positive, fresh, and attractive to under-18s.
We listened to feedback from our customers who said they wanted our under-18 product to be customizable and have a more personal look and feel for them. Therefore, we thought of creating a more adult feel for the card and the app since Revolut <18 is an account that can grow with kids.”
Revolut expands among younger people
With over 1.6 million customers worldwide, Revolut Junior has over 20,000 parent and child customers in Italy, all of whom are now Revolut <18 customers.
The Revolut <18 card is free, and a parent or guardian who holds a personal Revolut account can create a <18 account for their child in their Revolut app. If the youth has a mobile device, they can download the Revolut <18 app by scanning a QR code displayed on the parent or guardian’s phone. However, the card will work even if the youth does not have a smartphone. Parents/guardians can create a maximum of five <18 accounts, depending on their Revolut plan.
In addition, teens can register to create a parent account, with parental approval. If the teen is under the age of consent to process their personal data (under 14 in Italy), a parent will need to create an account for them from their Revolut app.
Revolut is creating the first truly global financial super app, intending to help people get more out of their money. In 2015, Revolut was launched in the United Kingdom to offer money transfers and currency exchange. Today, more than 20 million customers worldwide use Revolut’s dozens of innovative products to make more than 250 million transactions each month.