Dmitry Zlokazov, head of product at Revolut, said the joint accounts feature will help the app become ‘more social and inclusive’.
Revolut has introduced a new joint account functionality for users in Europe.
Joint accounts are part of the digital bank’s latest 9.0 app version released today (13 April) that is available to both iOS and Android users in the European Economic Area.
Some of the other new features Revolut is rolling out through the latest upgrade include group chats, home screen shortcuts and other user experience enhancements based on feedback.
Dmitry Zlokazov, head of product at Revolut, said that the advanced customisation options and streamlined UX make it easier for customers to navigate through their favourite features and products.
“I’m also particularly glad to see that Revolut is becoming even more social and inclusive, suiting the needs of different people, relationships and budgets,” Zlokazov said.
“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.”
Opening a joint account requires both parties to have Revolut accounts and update their apps to the latest 9.0 version. They also need to share the same country their personal accounts were registered in and not be part of any other Revolut joint account.
The decision to roll out joint accounts is based on a recent survey conducted by Revolut that found that 58pc of Europeans were keen to use a joint account to manage expenses with their partner, while about a third preferred to keep their accounts and budgets separate.
Revolut’s chat feature was first introduced in November to allow users to thank others for sending them money, share GIFs and even request money. Group chats will now extend this feature to a group of friends or family members to manage payments while also communicating.
The neobank is used by more than 25m users globally. Last week, Revolut completed the process of transferring its more than 2m customers in Ireland onto Irish IBANs as it seeks to encourage more people to use it as their primary bank.
Last month, Revolut said it was rolling out a car insurance service in Ireland with a waitlist in place until its expected launch before the summer. It also launched a credit card service earlier in the year.
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