Stay on Track with Revolut <18: Financial Service for Young People

Revolut has shared a revamped version of its financial service for young people: Stay on Track with Revolut <18. This new account, designed for users aged 6 to 17, is available in the UK, EEA, US, Australia, and Singapore. It connects to the parent or guardian’s Revolut account, allowing for a managed financial education and spending approach. This update, formerly Revolut Junior, aims to empower younger users with tools to build healthy money habits and manage their finances early on.

A notable feature of Revolut <18 is the customizable spending card. Young users can now personalize their cards by adding drawings, text, or emojis, making each card unique to its owner. This customization reflects its users’ vibrant and individualistic nature while maintaining a severe approach to financial management. Alongside card personalization, Revolut <18 provides robust in-app controls. Users receive instant spending alerts, which help them track their transactions, adhere to their budget, and set savings goals. Additionally, parents and guardians receive notifications every time the card is used, ensuring they are always aware of their child’s financial activity.

Stay on Track with Revolut <18: Financial Service for Young People

Parents can also set up regular ‘pay days’ for pocket money and design challenges for their children to complete to earn their earnings. This feature aims to teach financial responsibility through practical experiences. For social interactions, a new feature allows users to send and receive money among friends using the “Revolut me!” option. This peer-to-peer transfer capability adds a social dimension to the financial management experience, making it engaging and interactive.

Tara Massoudi, Revolut’s General Manager of Premium Products, commented on the launch: “We are thrilled to present Revolut <18 to new and existing customers. The updated design is vibrant and appealing, aimed at making financial management more engaging for younger users. We took customer feedback seriously and wanted to offer a product that feels personal and is adaptable as they grow.”

Revolut <18 is free to use. Parents who are Revolut account holders can create up to five <18 accounts through their app. If the young person has a mobile device, they can download the Revolut <18 app by scanning a QR code provided by the parent. However, the card remains functional even without a mobile device. Teens can also sign up independently with parental consent, and if they are under the age of data consent (below 13 in the UK), a parent must create the account for them.

With over 1.6 million global customers previously under the Revolut Junior umbrella, the transition to Revolut <18 marks a significant step in providing a tailored, educational, and engaging financial management tool for younger users.

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