Revolut Under 18 App - How to Use? Full Overview
Revolut has introduced a new app called Revolut Under 18, specifically designed for kids and teenagers between the ages of six and 17. This app allows parents to create an Under 18 account for their child, using their own Revolut app. However, it's worth mentioning that users without a Revolut Plus subscription can only create one Revolut Under 18 account. To access additional features such as adding more accounts or co-parenting, an upgrade is required.
To start using the Revolut Under 18 app, parents first need to open their regular Revolut app and navigate to the hub. From there, they can find the Under 18 section, where they can create an account for their child. This section also allows parents to add money, order a specific card for their child, and set up a saving goal (although this feature is limited and requires an upgrade). Weekly allowances can also be set up, enabling parents to automatically pay their child a specified amount in the local currency on a weekly basis.
Within the app, children will have access to various features and settings. These include viewing their account balance, requesting money from their parents, checking transactions, managing cards, and participating in challenges. For example, parents can create challenges for their child within the Revolut app, and upon completion, the child will be rewarded with a certain amount of money. The app also allows children to create saving lists and ask for goals, encouraging them to develop good saving habits. However, parents will need to upgrade their plan to unlock the saving goals feature.
The Revolut Under 18 app provides a simple interface for children to manage their finances. It allows them to upload their profile picture and request to close their account if needed. It's important to note that the app has certain limitations; trading stocks, making investments, and conducting swift payments are not available. Nonetheless, for basic financial management, such as requesting money from parents, completing challenges and goals, and having a personal card, the Revolut Under 18 app is sufficient.
In conclusion, the Revolut Under 18 app offers a convenient banking service for families who already use Revolut. It simplifies the process of managing finances for children and allows parents to monitor and control their child's spending. While it may not offer advanced features like stock trading or investments, it provides a safe and controlled environment for teaching children about personal finances.No answer to your question? ASK IN FORUM. Subscribe on YouTube!