Revolut joint accounts

If you already bank with Revolut, it’s easy to open a joint account with someone else. Here’s what you need to know.

Our verdict: Is a joint account with Revolut worth it?

If you already use Revolut but want to open an account with someone else to manage shared finances, it’s certainly worth considering the joint account from Revolut. It’s easy to get set up and you’ll benefit from perks such as fee-free spending overseas.

However, you must be happy managing your account via the app, and remember that this is a relatively simple account, so if you’re looking for more in the way of features, such as an overdraft, you’ll need to look elsewhere.

Pros and cons of a Revolut joint account

Does Revolut offer a joint account?

Yes, Revolut offers a joint bank account for 2 account holders. Each person named on the account has equal access to the money, so it’s important to only open an account with someone you trust.

Each account holder will be sent a physical card that can be used for joint spending, or you can opt for a virtual card instead. You can choose from exclusive card designs just for joint accounts and pair them to dedicated Pockets (savings pots) to help you budget.

Note that although Revolut was granted authorisation to become a UK bank in 2024, it isn’t operating as one yet which means that money in its accounts is not protected by the Financial Services Compensation Scheme (FSCS). However, it must hold funds in segregated accounts so that if it collapses, it can’t use your money to pay off its debts.

Which accounts are joint?

Revolut’s joint account is separate from its individual personal account plans. However, both account holders must have a personal account with Revolut to be able to open a joint account.

Each account holder will have their own usage limits and fees based on their personal Revolut plan. This means if you and the other account holder have different personal plans, different fees and limits may apply.

In most cases, the benefits of your personal account won’t apply to your joint account.

How do I get a joint account with Revolut?

You can apply for a joint account with Revolut through the app. This should only take a few minutes, especially as you must already hold a personal account with Revolut and have passed its identity verification checks.

You’ll also need to have the other account holder in your contacts. If you don’t, you can send a small amount of money to their Revolut account to make them a contact.

Once this is done, follow the steps below in the app:

1. Go to ‘Home’ on the bottom menu.
2. Below your balance, tap ‘Accounts’ and ‘Add new’.
3. Select ‘Joint’ and follow the instructions.
4. Wait for the other applicant to accept your invitation.

To make sure you get accurate and helpful information, this guide has been edited by Kate Steere as part of our fact-checking process.

Written by

Rachel Wait

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio