Revolut has surpassed more than 2 million young customers on its <18 app worldwide. The total jumps to a total of more than 3.5 million when including guardians. In the UK, total <18 app users increased by 73% in the last year.
Revolut is now bolstering its <18 app with a new look and features. The aim is to help grow healthy money habits and appeal of the app to young audiences.
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Overall Revolut customer numbers now exceed 40 million around the world.
The Revolut <18 app built especially for Gen-Z and beyond, helps young people manage their money in ways that work for them. At the same time, it provides the right controls to give parents and guardians peace of mind. In line with its growth, Revolut is supercharging its <18 app with a new look and features.
These include analytics to boost financial literacy through budgeting and spending analysis. In addition, a wallpapers features will help <18s to help teens express themselves.
Revolut is also making features like Pockets to set aside money towards specific goals. The Spare Change round-up facility is also available to all <18 app users for free for the first time.
Revolut says that the addition of this new functionality for all will supercharge young people’s ability to put money aside for the things that matter to them.
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By GlobalDataRevolut’s <18 app: available in more than 20 markets
Carlo Spada, Head of Product, Revolut <18 said: “Our <18 app is built for teens. Our goal is to be the ultimate financial companion, growing with young people and their financial needs. The features we’re announcing today will empower young people to take the lead on their finances and practise healthy money habits. All with fun opportunities for personalisation and the right level of parental oversight.
We’re excited to see more and more young people choosing Revolut as the place to build towards financial independence.”
Revolut’s <18 app is available in more than 20 markets including UK, EEA, Australia, Singapore and the US. In the UK, Revolut has seen a decrease in average daily <18 wallet balances. They have dropped from £44.08 in March 2023 to £40.30 in March 2024. Meantime, monthly <18 spend has increased, from £61.10 in March 2023 to £77.99 in March 2024. Kids in the UK received an average allowance of £9.28 in March 2024, down from £9.70 in March 2023.
