Revolut has rebranded its Revolut Junior service for children and teenagers under the age of 18 to Revolut <18 and given users the option to revamp their debit cards by adding drawings, text and emoji.

The digital banking app's service for younger users has 1.6m customers globally, including 400,000 in Ireland, the company claims.

Revolut <18 features in-app card controls to allow young customers to track their spending and set budgets and saving goals in app. A new feature allows users to prompt their friends to send and receive money.

Parents and guardians receive a notification when the <18 card is used, and they can set a regular 'pay day' for pocket money and set challenges for children to complete in order to receive money.

Tara Massoudi, general manager of premium products at Revolut, stated: “We listened to feedback from our customers who said they wanted our under 18s product to be customisable and to look and feel more personal to them. Therefore we wanted to create a more grown up feel to the card and app as Revolut <18 is an account that can grow with you.”

In Association with

The Revolut <18 card is free, and a parent/guardian who is a Revolut account holder can create an <18 account for their child in app. The young user can download the Revolut <18 by scanning a QR code generated on their parent/guardian's phone.

Card holders can create a maximum of five <18 accounts depending on their Revolut plan.

If a young person is under the age of data consent, which is 16 in Ireland, then a parent will need to create an account for them from their own Revolut app.

Revolut recently launched a 'buy now, pay later' feature in response to the growth of Klarna.

(Pic: Revolut)