Financial news

Revolut’s survey

A recent survey reveals that 58 per cent of Europeans would like to use a joint account to manage their spending with a partner. 

32 per cent of them preferred to use it exclusively as their only account, while 26 per cent as a complementary one to their private ones. 

The remaining 33 per cent preferred to keep their accounts and budgets separate.

Who can open a Joint Account?

According to the UK fintech firm, joint accounts can be opened directly in the app and meet the needs of different people and relationships. Upon opening an account, both users receive two virtual and two physical debit cards.

However, to open joint accounts, both parties need to be Revolut customers and have the app updated to the version supporting the Joint Accounts feature. 

Also, both persons need to share the same country their personal accounts were registered in, the same Revolut entity or branch (personal accounts registration entity) and they cannot be a part of another Joint account.

“Customers do not have to prove that they live together, nor do they have to share any further details about their relationship with their partner,” says the company. 

Wiktor Stopa, Head of Growth Western Europe at Revolut, says, “I’m particularly glad to see that Revolut is becoming even more social and inclusive, suiting the needs of different people, 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,” adds Stopa. 

Over the years, the fintech company has become one of the biggest financial communities 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 p2p payments.

Revolut: What you need to know

Established in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut is a financial services company specialising in mobile banking, card payments, money remittance, and foreign exchange. 

In addition, it includes a prepaid debit card, currency exchange, and peer-to-peer payments.