Helping kids gain money skills for life with Revolut Junior 👦👧 (US)

Elizabeth Kim

 · 08/06/2020  · 08/06/2020

Kids and teens need to learn about money, and who better to teach them than you? Introducing Revolut Junior, a safe and easy way for parents and guardians to teach kids essential money skills for life.

What is Revolut Junior? 👪

Revolut Junior is a Revolut account for young people aged 12-17. It gives them the freedom to manage their money and build essential financial skills, but for added security and peace of mind, it’s owned and controlled by you.

Sounds great so far? We hope so, but Revolut Junior is more than just an allowance account. It’s a way for kids to learn about saving and budgeting via their own Junior app — because let’s be honest, they’re not learning it in school!

Revolut Junior at a glance ⚡

  • Available for kids aged 12-17
  • Can only be set up by a parent or guardian with an existing Revolut account
  • Funded by a parent or guardian from their main Revolut account
  • Parent or guardian can control Junior account holder’s security features
  • Instant notification to parent or guardian’s phone when Junior card is used
  • Card details printed on the back of the card, to reduce risk if card is shown on social media

Built with long-term benefits in mind 🙌

Money is an important part of any child’s or teen’s life, whether it’s pocket money or a part-time job. But few young people are taught how to manage their money. Imagine giving them the tools to develop greater financial sense, with resources your younger self probably never imagined.

With Revolut Junior, young people get the freedom to spend both offline and online, (fully customizable by you), and you get the peace of mind of being able to see where their money goes. Plus they can use our essential in-app saving and budgeting tools - all part of teaching them money skills for life.

It’s all about beginning to have conversations around money that are enjoyable and fun too. Revolut Junior is the starting point for you to help them grow up feeling confident about managing their money.

How to set up Revolut Junior 👨‍🦰

Setting up a Junior account is simple:

  1. Open your Dashboard in the app and tap on ‘Junior accounts’
  2. Fill out the information for the child or teen who will be using the account
  3. Order a Revolut Junior card for them
  4. Add money to their Revolut Junior card from your account

Optional Revolut Junior app 📱

If they have a mobile device, they can download our dedicated Revolut Junior app by scanning a QR code displayed on your phone. However, their card will still work even if they don’t have a mobile.

Where freedom meets security 🐣

In addition to teaching healthy money habits, Revolut Junior is a great way of handing kids plenty of financial freedom, within safe boundaries. Ever receive an unexpected Amazon package for your child or get a surprise Fortnite charge on your card?  Revolut Junior gives you more control of your child’s spending - you set the limits and controls, without having to watch over them 24/7.

Take card controls, for example. As the parent or guardian, you’re in control of how and where the Junior card can be used.

How many times have you handed your child some cash for their allowance, only to find it was later misplaced?  Now you can safely place money in your child’s wallet. Plus, only you can add money to a Junior account. You can do this via your own Revolut account.

Tracking and transaction alerts 🧐

Giving them some freedom with a Revolut Junior account means you’ll also want to do some tracking, to keep them safe. You’ll be able to see where they spend, directly from your own Revolut account. We’ll also send you transaction alerts whenever they spend, and by default, Junior cards cannot be used at certain age-restricted merchants.

This kind of trust and respect is central to Revolut Junior, and we hope that by giving you the tools to lead the way, you’ll help give them money skills for life.

Real account, real responsibilities 💪

When it comes to money, no young person wants to be treated like a kid. Revolut Junior gives them the opportunity to handle their money like an adult.

That said, they’re probably still going to show off their new Revolut card on social media, which is why we’ve taken the extra security precaution of putting their card number on the back, out of sight.

Money management for the whole family 👨‍👩‍👧‍👦

At Revolut we’re all about creating products that allow you to ‘get more’ from your money and more out of life, and with Junior it’s about ease,peace of mind, and using technology to bring the family together.

Revolut Junior launches with plenty of great features, but you know us, we’re always looking ahead. In the coming months we’ll introduce additional budgeting features to Junior, setting up a recurring weekly allowance, as well as the opportunity for kids to create vaults, to help them save for their goals and passions.

Let us know what you think of Revolut Junior, by tagging us @revolutapp using #RevolutJunior and #JuniorFamilyFind out more about the ins and outs of Revolut Junior with our dedicated Revolut Junior FAQ.