Teaching children how to manage their finances is a very important role for a parent. Revolut from Revolut Junior meets these needs.
Revolut Junior in Poland
First, some basic information. Customers in Poland can already use the Junior service, but it turns out that not everyone. Today, it is offered only to people with paid Premium and Metal accounts. Premium customers can activate Junior for two, Metal users for up to five. Revolut Junior accounts, however, can only be created by the parent or legal guardian of the child, who is already a customer of the company.
Why, however, does the company offer such a product? The application allows the child to check the status of the account associated with it, as well as to receive notifications of transactions carried out. The advantage for parents is that they can control their child’s expenses using their application. The service may also be useful for quick recharging of the sub-account of the student / ward.
How to start?
To even start?
- Open the Desktop tab in the application,
- Select “Junior accounts”,
- Provide information about the child who will use the account.
- The next step is to order a Revolut Junior card and top up your account using a Revolut account.
Plans for the future
Revolut already claims that it plans to expand the new service, including for a renewable spending limit, cyclical account top-ups, saving function, expense reports and financial advice for children. Especially the latter can be very important, because it will help teach children how to turn money.
It is worth adding that Revolut has officially launched its bank in Lithuania. The plans include an introduction to the offer, including loans and credit cards. Except that FINTECH I also want Revolut Junior to be available to its Lithuanian clients – just like Polish clients.
revoluta founded by two Russians – Nikolai Storonski and Vlad Jacenko. The project officially started in 2015. Formally, it operates as an electronic money institution.
Today, Revolut also offers a mobile application that has been supporting transactions in PLN since 2017. The project is revolutionary enough (and using the idea from the cryptocurrency market) that the smartphone application itself allows the user to set up a bank account associated with a payment card. The “app” and account allow you to make free domestic and international transfers and pay for purchases abroad without any commission or additional fees.
1.7 million users already used the application in 2018, but in the next few months the number increased significantly. In July 2019, the company could already boast of 6 million users.
It is worth adding that Poland is the first country in the world in which revoluta launched local cards, account numbers and support department. The project has been so well received in our country that it is today the second fastest growing FinTech in Europe and the third in terms of the number of users.
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