Revolut has announced that it has rebranded its service for six- to 17-year-olds.
Revolut <18 is an account for young people that is connected to their parent’s or guardian’s Revolut account.
Previously named Revolut Junior, Revolut <18 will now offer its young customers the chance to send and to receive money.
Tara Massoudi, Revolut general manager of premium products, said, “The new Revolut <18 yellow design is energised, positive and fresh, appealing to a variety of under-18s.”
Using end-to-end security and in-app card controls, young Revolut customers can safely track their activity in the app, the company noted.
Additionally, an instant notification is sent to the parent’s or guardian’s phone when the <18 card is used.
Parents and guardians can set a regular ‘payday’ for pocket money, but they can also set challenges for their young person to complete, in order to receive their earnings.
Under-18s can personalise their own spending card by adding a drawing, text, or an emoji.
“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,” added Massoudi.
“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.”
Creating An Account
The Revolut <18 card is free, and a parent or guardian who is a Revolut personal account holder can create an <18 account for his or her child in the Revolut app.
If the young person has a mobile device, s/he can download the Revolut <18 app by scanning a QR code displayed on the parent’s or guardian’s phone.
Additionally, teens can sign up by themselves to create an account, with approval from their parent or guardian.
With over 1.6 million customers globally, Revolut Junior had over 400,000 customers in Ireland alone, all of whom are now Revolut <18 customers.