By Oliver Smith on Thursday 19 September 2019
Move comes as stock trading is unlocked for all of Revolut's 7m European customers.
Later this year parents using Revolut will be able to issue “Revolut Youth” cards for their 7-18-year-olds, with controlled spending tied to the adult’s account.
Early next year the digital bank plans to launch an entire Revolut Youth app frontend for children to manage their limited accounts from a smartphone.
The move, first reported by Sifted, swings Revolut into competition with the likes of GoHenry and Osper which have focused on building digital banking platforms for Gen Z.
It’s also reported that Revolut Youth users will be automatically converted into full Revolut account holders upon turning 18, further driving the digital bank’s overall growth.
Earlier this month Revolut said it had reached 7m account holders across Europe, firmly placing it in the “lead” among digital banking services.
Today Revolut also announced that its stock trading service, so far exclusively for use by Revolut Metal account holders, is being launched for all Standard and Premium customers across 26 European markets.
“We’re delighted to provide even more people with access to the stock market and make financial services more inclusive, innovative and affordable,” said Andre Mohamed, Head of Wealth and Trading at Revolut.
“We’ll continue to build on the trading product, rolling out access to different markets and products in the near future.”
Revolut also added an additional 150 US stocks and shares to its trading universe, taking the total to over 450 now available.
Standard customers are given 3 free trades a month, Premium get 8, while additional trades are £1 per trade.
Revolut Metal customers can now make unlimited free trades per month, the company announced today.
Read more: Revolut challenges Freetrade with US-only commission-free stock trading
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