Revolut, the global financial super app used by 30+ million customers worldwide, has today announced the launch of its new Joint Accounts product in the UK, after hitting 100,000 joint users across the EEA.
The Joint Accounts feature will allow customers to create an extra account within the Revolut app to be jointly owned by two people* - whether they are partners, family members or friends. These new accounts offer customers greater flexibility in managing their finances, through pooling resources and the ability to manage a common budget.
Revolut’s Joint Accounts have been designed to increase financial flexibility and inclusion, and to suit the needs of all customers and their personal relationships. By providing an effortless account opening process that can be completed in three easy steps, Revolut aims to actively challenge the stigma many feel when creating a joint account. Joint Accounts along with Revolut <18 can become a centre of family finance, but they can equally be used by all types of duos, whether that be partners, siblings, roommates or friends.
Revolut customers in Europe are predominantly using Joint Accounts for everyday spending, with the top spending categories being supermarket shopping and restaurants.
Antonella Benhamou, Head of Banking Tribe and UX Product Owner at Revolut: “We are really excited to be launching Joint Accounts to customers in the UK today, following the successful release of the feature to European markets back in April. As it continues to scale at pace, Revolut is becoming even more social and inclusive to meet the needs of different individuals, relationships and budgets. Joint Accounts will help to easily sort out money matters with whomever we share our financial life - blending the best of existing social and banking features.”
Over the years, Revolut has become one of the biggest financial platforms in the world, with multiple features specifically created to be used with other people and to make daily banking faster and easier - such as Group Bills, Revolut Chat, Revolut <18, Group Vaults and hassle-free peer to peer payments.
*To open joint accounts both parties need to be Revolut customers and have the app updated to the latest version, which supports the Joint Accounts feature. Both individuals need to have personal accounts registered in the same Revolut entity or branch (personal accounts registration entity) and they cannot be a part of another Revolut Joint account (or have a pending invite for a Revolut Joint account from someone else).