In brief: Revolut boosts its offer dedicated to minors
Revolut is renewing an affinity offer in its catalogue. This one stands out because of its target: children. Although this initiative is not a first for the British neo-bank (it is an update of its Junior offer), it illustrates its ever-present ambition to attract new customers.
While Revolut has just passed the symbolic milestone of 20 million customers, the neo-bank is continuing its efforts to attract new customers. It has just presented a new version of its offer dedicated to young people. Called Revolut <18, it is aimed exclusively at minors, through their families.
Revolut presents its new affinity application as a tool for empowering young people, but also, and above all, as an educational financial link with their families. The service can be controlled from the parents' application and allows Revolut's minor customers to monitor their finances via a second application.
A card is also attached to the account to facilitate spending. A set of features is available, generating notifications for parents at each use:
when money is sent between friends,
when spending with a card (including via Google or Apple Pay)
when requests are made to personalise the cards (paying option),
when saving money to achieve goals,
when issuing requests to receive money.
A paid version is also available, which allows a co-parent to be added to manage the child's finances.
In addition to parents wishing to open an account for their children, Revolut also invites teenagers to download the application in order to sign up themselves and encourage their parents to validate the opening of their account.
The offer is available in the UK, US, Ireland and Australia. Revolut <18, formerly Junior, has over 1.6 million customers worldwide and over 350,000 customers in the UK.