Revolut announces new joint account feature for European customers

Kenneth Fox

Global financial app Revolut has released a new product for customers across Europe, allowing them to open a joint account that can be owned by two people.

The offering is the latest from the fintech company, which has been expanding its product range for Irish customers in recent months, now providing Irish IBANS, credit cards and car insurance.

As The Irish Examiner reports, the new joint accounts can be shared by partners, family members or friends, and includes a group version of the apps existing instant messaging tool, Revolut Chat.

According to the app, customers hoping to set up a new joint account with someone do not have to explain who and why, nor prove they live together.

"Both Joint Accounts and Group Chats will help to easily sort out money matters with whomever we share our financial life – blending the best of existing social and banking features," said Revolut's Head of Product, Dmitry Zlokazov.

Joint accounts are now available to customers across the EEA after a survey conducted by the neobank found that just under 60 per cent of Europeans were keen to use one to manage expenses with a partner, with a further 32 per cent preferring to use it exclusively as their only account.

The app's newest update also features enhanced home screen shortcuts, and group instant messaging, making it easier to split bills and request and send money to more than one person at a time.