Revolut Empowers Over 2 Million Young Customers Worldwide with <18 App

Revolut is empowering young people through its <18 app with its significant milestone: its <18 app, designed for 6 to 17-year-olds, now boasts over 2 million young customers worldwide. When including guardians, this number skyrockets to an impressive 3.5 million globally. Notably, the total number of Revolut <18 customers in Singapore, encompassing both kids and their guardians, has more than doubled between March 2023 and March 2024.

With financial literacy taking center stage amidst rising living costs and higher interest rates, Revolut’s <18 app comes as a timely solution. Financial knowledge is crucial, especially for young individuals, yet many Singaporeans struggle due to a lack of formal education in this area. Highlighted as a top concern by Singaporean youth in the Post-Budget 2023 Youth Dialogue, the absence of financial literacy in schools represents a missed opportunity to instill healthy financial habits early on.

Revolut’s <18 app aims to fill this gap by providing young people with the tools they need to manage their money effectively, all while offering parents peace of mind. Through the app, young customers and their parents can track spending, receive instant alerts, and set money aside for future goals. Now, with a revamped look and enhanced features, including Analytics for budgeting and spending analysis, as well as customizable Wallpapers, Revolut is doubling down on its commitment to financial education and empowerment.

In Singapore, where Revolut has seen a 20% increase in monthly <18 spending, the app is already proving to be a game-changer for young users. The addition of new functionalities such as Pockets, for setting aside money towards specific goals, and Spare Change round-ups, will further enhance their ability to manage finances responsibly.

To assist parents in fostering healthy money habits in their children, Revolut suggests practical tips such as incorporating financial concepts into everyday conversations, providing a regular allowance, and utilizing spending alerts and analytics to track expenses. By empowering young people with financial knowledge and skills, Revolut’s <18 app is paving the way for a financially literate and empowered generation.

Revolut’s <18 app is available in over 20 markets worldwide, including Singapore, where it continues to make a positive impact on the financial well-being of young individuals.