Revolut launches “Revolut Junior”: a new account for younger users

Posted: 18 March 2020 9:46 am
News

Picture not described

The digital bank hopes to teach kids money management skills for life.

Revolut has launched a new product, Revolut Junior, a money management app designed for kids aged between seven and seventeen years old. It aims to promote financial literacy through tools and advice.

Revolut Junior accounts can be opened and managed by a parent or legal guardian, providing they are a current Revolut Premium or Metal customer. The app has tools and features that teach young people about money and budgeting, and prepares them with the skills they’ll need once they become financially independent.

The three main components of Revolut Junior include:

  • A new app designed for kids to allow them to check their balance and get transaction alerts.
  • A new section in the Revolut app for parents and guardians to manage their kids’ spending. Parents can manage allowances and make direct transfers to their children’s accounts.
  • A Revolut Junior bank card for the kids.

With Revolut Junior, parents can track all payments that the child makes with notification alerts, and also set security settings to control card and transaction functions. There are further planned features set to be added throughout the year, such as spending reports, spending limits and financial guidance for kids to develop their financial skills.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site