UK-based online bank Revolut has launched its Joint Accounts product in the UK, following its success in the European Economic Area.
The Joint Accounts feature allows users to create an additional account within the Revolut app that is owned by two people (partners, family members, or friends). This solution will give clients more flexibility and options in managing their finances by pooling funds.
Neobank Revolut decided on Joint Accounts to facilitate the influx of new users, increase their financial flexibility, and meet their increased needs.
The company has simplified the process of opening a Joint Account as much as possible to save its clients from the time-consuming process of setting up this account, according to the IBSintelligence website.
It is worth noting that Revolut's joint accounts are available to users over the age of 18 and can be created in partnership not only with family members but also with neighbors or friends.
According to neobank, the most common types of joint account spending in Europe are supermarket and restaurant purchases.
We are 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," said Antonella Benhamou, Head of Banking Tribe.
Previously, Revolut launched its services in New Zealand.
