Hope this makes other players sit up and take note. Seems like such an obvious next step for the likes of Startling and Monzo.
A little detail I’ve noticed, that I love and hope they bring to their regular accounts. They’re done the card layout the same as Apple Card, upside down so the chip is on the right.
It will be a great opportunity for kids to get familiar with non-existent CS too!
Presumably that would be for when Revolut suspend kids accounts without warning or explanation - preventing them from accessing their lunch money?
Revolut have probably made the smartest move of any of the new banks, get customers at 7 and by the time they are 18 they have been happy with you for 10 years so you will be a customer for life in general.
It’s bypassed the law of contact by making the contract with the parent. The same move the likes of gohenry do. That is the hurdle the other banks didn’t want to overcome for some reason.
They need the banking license and to sort out their source of fund checks so they don’t lock accounts for ages - if they do that I’m going to be moving my banking over to Revolut. They could also do with integrating with Flux & fixing their merchant enrichment
The speed at which Revolut want to grow and expand their offer concerns me greatly.
The management seem to be easily distracted by moving into new and shiny business areas. They don’t seem to concerned about whether their new shiny offerings are ready for show time.
They want to be a one stop shop and that’s great… But the quality isn’t there and they’re just not getting better when it comes to the mountain of pissed off people with suspended accounts.
They’re ambitious, but sloppy. They won’t be trusted with my salary.
On the whole, I’m pretty impressed with how Revolut are progressing.
Kids accounts are not something for me, as I don’t have kids, but their other product offerings are making them a real top player in the FinTech world.
Just the small matter of a banking licence and i think they will be way ahead of the competition.
They’re fine until they trip up
Problem is they always seem to be running with scissors when they trip up.