So, if you're curious and considering signing up or just want to find out more, here's all you need to know.
The launch comes at the same time that Revolut has reached 1 million Irish customers, adding to its tally of 10 million customers globally - an impressive feat for a fintech company. This means that children, who are traditionally given pocket money in cash, can be financially excluded. When we say the âJunior appâ, we mean the app that Juniors use to access your Revolut Junior account. We’re free to use and make comparing prices across suppliers quick and easy!We save you time by bringing you all the best deals in one place. The use of your Revolut Junior account is subject to the same fees as for your Revolut personal account, other than the following exceptions:The use of your Revolut Junior account also has the following limits, which your Revolut personal account does not. )A Revolut Junior account is a sub-account of your Revolut personal account that you allow a Junior to use. Revolut now also plans to launch its Revolut Junior product in Ireland, which first appeared in the UK in March. Revolut says it has signed up a million users in Ireland Launch of junior app is its latest attempt to win over customers from traditional banks Wed, May 13, 2020, 00:53 This means that all the rights you and we have under our Personal Terms also apply to your use of Revolut Junior. To access the Revolut Junior app, parents must first create an account from the primary Revolut app. Once a Junior turns 18, they will be eligible to sign up for a Revolut personal account. Upon closure, any remaining money in the Revolut Junior account will be returned to your personal account and the relevant Revolut Junior Card will be cancelled. Standard, Premium, Metal). The fintech announced today (17 July) that Irish standard account holders can now avail of at least one Junior account for children aged between seven and 17. And if the child's card is lost or misplaced parents can temporarily or permanently disable the card, just like with an adult account.Being able to switch on and off the ability to make purchases is another big plus for parents, and when coupled with in-app notifications will be invaluable in helping to make sure your child isn’t overspending when it comes to their weekly allowance.Additionally, and as an added safety feature, Revolut has made sure to print the child’s card details on the back of the card in order to reduce risk if the card somehow appears on social media.The clear drawback for free account users is the €40 cap on the monthly top-up amount allowed, which restricts parents to an allowance of just €10 per week.So, if you have a slightly older child or a teenager, this weekly amount might not be enough to keep them going every 30 days, especially if they live in a bigger, and more expensive, town or city.Being able to create only one account could also be an issue for parents with more than one child. When we say 'Junior', we mean any person who you have allowed to use your Revolut Junior account. Revolut has saved me a fortune in currency exchange fees.ââFinally back home in UK after two wks in the US. Back in May Revolut stepped it up a notch when the global fintech launched Revolut Junior, the money management app for kids, but only for customers subscribing to its paid Premium or Metal accounts. We’re 100% impartial and are also accredited by the Commission for Regulation of Utilities (CRU) as an impartial, accurate and independent supplier of energy price comparisons. A Revolut Junior account is a sub-account of your Revolut personal account that you allow a Junior to use. I think I'll use Revolut exclusively for travel expenses.ââFlying to ð¯ðµisnât stopping @linuz90 from sending me ð°with RevolutââIf you havenât heard about Revolut yet...itâs easy to split bills with friends, request money and create virtual cards for online purchasesââI travel a lot.
If your Junior attempts a transaction using your Revolut Junior card and there are not sufficient funds in the Revolut Junior account then the transaction will be declined, even if there are sufficient funds in your Revolut personal account.You can create a Revolut Junior account at any time in the Revolut app. Digital banking app Revolut has today rolled out Revolut Junior to its standard plan clients in Ireland. If we ask, you also must provide us with the information we need to verify the identity of the Junior.