I think there should be a trusted contacts list here as quite alot of the family have revolut and for them to be added to a list so they could send a few bob to the childs card for going out with their friends or away on holidays or birthdays for example. Also itās a shame thos wasnt thought of initially as only one parent/guardian can manage the Junior account.
Good morning, echoing a number of the suggestions here.
Firstly the junior card is a great idea, have ordered one for my daughter and she is very excited to receive it.
I understand the limitations of it being linked only to the one parent and I get that it does not have its own bank account or IBAN that family or friends can send money to but surely it is not too difficult to at least have a custom message that I can attach to each transaction. At the moment it just says from <>. I cannot even put from dad on it. It was her birthday recently and different family members sent her money. I cannot even add from Grandma or from Uncle Tom for example. This would be such a simple but yet massively beneficial feature. You can easily add a reference when making payment using the standard Revolut account.
The other main thing for me which has again been mentioned a few times is the currency exchange limitation. We live in Gibraltar but spend a lot of weekends in Spain. I get that any purchase in Spain she makes will have the appropriate conversion made but she should be able to do that herself. This was one of the main features that made me sign up to Revolut myself in the first place. She has just been learning about money and different currencies in school as well so this would also really help the learning experience.
Otherwise looking forward to the future updates. Hopefully the Junior app will receive the constant updates and improved features we are lucky to receive in the main app.
I agree. That Junior tab is wasting a lot of space on the front page. I get why itās good to feature new things in the app prominently, but there should be a ādismissā option to get rid of it, please I have no ājuniorsā and will never open such an account.
Agree completely. Just opened two junior accounts for the kids. One is 16 and we live in Ireland, very close the the Northern Ireland border. We - and the 16 year old - spend as much in Sterling as we do in Euros - same for the kids. Having a handy way to manage her pounds and euros would be great - without the need for a separate account with another bank!
It would be great to give kids āinterestā (letās call it additional rewards) for saving in the account, set and funded bu the parent. I donāt expect Revolut to pay the higher interest, the money should come from the parentsā account.
With interest rates so low, there is little incentive for kids to save. Iād love to be able to set up a monthly bonus based on how much they have saved.
Just to elaborate a little; I have three kids and considering Premium to get junior cards. However, to get three I need to to go to metal at ā¬13.99/m. GoHenry.com costs ā¬2.99/m per kid
So is there any news about adding another parrent to junior account? Or other way arround, as you like ti I know very few kids that have only one parrent so this is really big fail
The ability to monitor & send money to Junior Account from both parents accounts is a must have.
Parents, even when married or living together, can have separate banks accounts. So ability to tie a Junior Account to another āparentā account is a must.
If/when parents get divorced or separated this becomes even more useful.
Eagerly waiting to be able to share this responsibility of managing our kids pocket money/allowance with my ex-wife.
I totally agree. While revolut is doint the technical part to make payments and list dem in junior app well, there^'s limited options, that kids LEARN to handle and track their money usage. I understand, that a (neo) bank requires payments and money transfers to make money.
However - If Revolut wants to stand to their marketing slogan on their web page for the junior card āteaches kids healthy handling of moneyā, the kids unior app definately requires some additional functionality. This means:
If thereās set a monthly limit (and I recommend to do so), then this dashboard also have to be shown in the kids revolut junior app, that they see, how close they are to their monthly limit
Also the vault feature of the parents accounts would be desireable. Especially that one, where you round up every payment, and move the rounding amount to the vault.
Also an older request would be to add a second parent to junior management.
To TEACH kids how to learn a healthy money handling, they require those Limit DAshboards, and some useful reports to see, where their money went (gaming, shopping, etc.)
The card isnāt suitable for an older teen because features are mostly disabled.
My daughter just tried to buy me a piece of electrical equipment for my birthday and the transaction was declined. No explanations, no block notifications, just a declined message to us both. Iām guessing itās some kind of vendor restriction???
So I bought it for her (made her feel very childish) and when she tried to send me the money, she couldnāt. I had to withdraw it from.jer account (very childish)
Iād like to choose what gets blocked and what responsibilities she has using her account. I would like to be the person who decides what restrictions are placed on the card.
Iād like her to have a savings vault and be able to split cafe bills or else be able to send money to who she wants, because sheās not a small child.
At the moment, I donāt think a junior revolut card is teaching her how to use money responsibly because there are no responsible things active on the card.
Can anyone provide a list of what business MCC codes are valid for a junior card? The legal terms I found donāt provide a list so weāre not sure what she can buy and what she canāt!
That would really be a good idea - but how would you know when to disable it? If she tells you to you know something is up or get suspicious. By yourself you wouldnāt know when to disable it. I back the idea though,
Iād like the ability to set a regular transfer directly into a Goal. Then I can contribute directly to the childrenās savings, rather than transferring money to their main account and relying on them remembering to move the money to the Goal.