Previously named ‘Revolut Junior’, Revolut <18 has over 1.6 million customers globally and over 350,000 customers in Britain.
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Revolut with the ambition to be the world’s fintech super app is targeting younger people with the launch of Revolut <18, aimed at 6 – 17-year olds.
Revolut Junior was first launched in Ireland in May 2020, months after the service was introduced in the UK to allow kids to have accounts with the neobank connected to their parents’ premium accounts.
The service was extended to standard account-holding parents two months later.
Revolut <18 puts greater emphasis on customisation for each individual young account holder, offering them the chance to personalise their own spending card by adding a drawing, text and even emojis.
Another new feature will allow young users to ask their friends to ‘Revolut me!’ as a way to send and receive money the way regular Revolut account holders are able to transact.
“The new Revolut <18 yellow design is energised, positive and fresh, appealing to a variety of under 18s,” said Tara Massoudi, Revolut General Manager of Premium Products.
“We listened to feedback from our customers who said they wanted our under 18s product to be customisable and to look and feel more personal to them. Therefore we wanted to create a more grown-up feel to the card and app as Revolut <18 is an account that can grow with you.”
The idea behind Revolut’s service aimed at children and teenagers is to promote good spending and saving habits at an early age, within safe parameters and guided by an adult.
Parents and guardians can create a maximum of five Revolut <18 accounts for kids, depending on their plan.
Revolut has around 2 million customers in Ireland, 400,000 of which had been using Revolut Junior.