Michelle Stevens is a deputy editor at Finder, specialising in banking, finance and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for more than 10 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills.
Revolut <18, formerly known as Revolut Junior, provides a convenient digital way for parents to pay children their pocket money, and an easy way to keep an eye on what and where they are spending.
It’s Revolut, but for your kids
Revolut is best known for its range of digital bank accounts with neon cards, travel perks and handy spending and saving tools. It also offers a prepaid children’s account called Revolut <18, designed for 6 to 17-year-olds.
Designed for kids of Revolut account holders, kids get a prepaid debit card and a mobile app to start learning how to manage their finances, while parents get to put money in the account and set controls on how that money is spent.
Revolut <18 must always be linked to an adult account, so as a parent you must already be a Revolut account holder in order to open a Revolut <18 account for your child. We have reviewed Revolut’s “adult” app here.
Revolut now officially operates as a bank in Ireland as it has been granted a full banking licence from the European Central Bank. This means any deposits held within Revolut are now covered up to €100,000.
What features come with Revolut <18 for teens and kids?
An account and app designed specifically to help children and teens manage money
Use the account and prepaid debit card to spend money as well as save it
Use of a physical contactless prepaid debit card that can be customised (for a fee)
Spend on the go by linking the Revolut <18 prepaid debit card up to Apple Pay or Google Pay
Receive instant alerts to help track spending habits
Separate savings pot within the Revolut <18 to reach savings goals
Ability to earn rewards every time a challenge set by a parent is completed
Send and receive money from friends on Revolut <18 alongside notes and gifs
Complete goals set by a parent or set and reach personal goals to build savings
Parental controls that help children learn money management such as setting spending limits, or freezing and unfreezing payments
Parental controls with Revolut <18
There is a number of safety and security features available with Revolut <18 so you can keep your kid’s banking safe. These include:
Top-ups from your account: You top up the Revolut <18 account directly from your own Revolut account, so you decide how much is available for them to spend.
Spending controls. You can set rules on how your child can spend their money both online and in-store. Revolut also blocks the card from being used at most age-restricted merchants.
Alerts and notifications. You will be notified whenever your child makes a purchase for how much and where. If something doesn’t look right, you can freeze the card.
Card numbers. Does your kid want to show off their colourful card on social media? No problem. The card numbers are on the back, so they can post a photo without having their card details stolen.
Revolut <18 “Co-Parent”
Revolut has a “Co-Parent” feature for Revolut <18 for customers on its higher tier plans, which means that two adults can now have full visibility and control over the account. This feature is only available to Premium and Metal customers, who can use a link within the app to invite another adult to jointly manage their child’s Revolut <18 account.
The co-parent doesn’t have to be a parent; this additional adult can be a grandparent, carer or another person financially involved in the child’s life. The co-parent will be able to set tasks and goals for the child, as well as top up money in the Revolut <18 account.
How much does Revolut <18 cost?
Here are the card and account limits and fees to be aware of:
No monthly or annual fee for the Revolut <18 account.
Initial card delivery fee of €0 for customers of Premium and Metal accounts or around €5 for customers on the Standard or Plus plan.
€0 card transaction fee.
ATM cash withdrawal fee of €0 up to €40 withdrawn each month, 2% thereafter.
Fees apply to foreign exchange transactions that exceed €250 each month
Pros and cons of Revolut <18
You can top up the account online
Instant notifications for all spending
Parental controls mean rules can be set on where the child’s card can be used
The child gets their own account and payment card, which helps teach them financial skills
The dedicated Revolut <18 app lets kids check their account balance and transactions
The card works without the app
You have to be a Revolut account holder to open a Revolut <18 account for your child
If you have more than one child and want more than one Revolut <18 account, you’ll have to sign up for a paid Revolut account
A fee applies for ATM withdrawals over €40
How to sign up for Revolut <18
You can sign your child up for Revolut <18 if you hold one of Revolut’s “adult” accounts. However, you are limited in the number of child accounts you can open depending on the tier of account you hold:
If you have Revolut Plus or Revolut Premiumyou can open up to 2 Revolut <18 accounts.
If you have Revolut Metalyou can open up to 5 Revolut <18 accounts.
The signup process differs depending on whether your child is under 14 or over 14.
If your child is under 14, you will need to create an account for them from your Revolut app
Teens over the age of 14 can download the Revolut <18 app and sign up for an account with parent or guardian approval.
The bottom line
Teaching children how to manage their finances at an early age is a useful life skill. Revolut <18 pairs this with a convenient digital way for you to pay children their pocket money, and an easy way to keep an eye on what and where they are spending.
One drawback here is that as a parent, you have to be a Revolut account holder already; but if you already are one then Revolut <18 is a great option.
If you really like the sound of Revolut <18 but are not already a Revolut customer, then you can always set up a free Standard Revolut account to qualify for one free Revolut child account.
Get started by visiting Revolut’s website and ordering a card. If you have read this review and decided that Revolut <18’s card is not for you, you can also discover other prepaid cards for kids on the market.
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