Revolut has released the new 9.0 version of the app for iOS and Android: here’s how it works.
New features include joint accounts, which are shared bank accounts for all types of couples.
Revolut: how does the new version 9.0 of the app work
The global financial app with more than 28 million customers worldwide, Revolut, has released the new version 9.0 that includes the functionality of joint bank accounts.
Such accounts allow customers to create an additional account within the Revolut app that must be jointly owned by two people, whether partners, family members or friends.
The new 9.0 UX version is available for both iOS and Android and is available to all customers throughout the European Economic Area (EEA).
Not only that, the update also includes the group version of the instant messaging tool Revolut Chat.
The new features of the Revolut app 9.0 do not stop there. In fact, customers will see a new Home screen where they can customize their in-app experiences, thanks to the introduction of new widgets.
In addition, customers will be able to report any frictions and barriers in their experience on the app so that Revolut can act to accommodate them with upcoming updates.
Revolut app and joint accounts: here’s how it works
The gem of the new 9.0 version of the Revolut app is joint accounts. This is about sharing expenses, not only with your partner but with any other person with whom you want to establish this kind of relationship.
In this regard, the app does not require any special requirements or proof of cohabitation between the two account co-holders.
According to a recent survey conducted by Revolut itself, 60% of Italians prefer to use a joint account to manage expenses with their partner. Of these, 37% see joint accounts as exclusive accounts, while 23% see them as a complementary account to another exclusive one.
Practically, only one in three Italians prefer to keep their accounts totally separate. And indeed, 4% said they do not even want to talk about money in the couple, so as not to mix finance and love.
Continuing with the survey, when asked how they split expenses with their partner, 40% said a 50/50 split, while 20% said that one person in the couple pays more or less for expenses based on their income. Finally, 26% said there are no rules for splitting expenses.
The instant messaging function
It was November 2022 when Revolut launched its instant messaging feature: a chat where the app’s customers around the world can chat and share funny gifs and stickers while sending and receiving money to other customers.
The new version 9.0 introduced group chats. Basically, now, multiple people can discuss and clarify the details of a payment within the app, in one chat, without having to log in to different ones.
In this regard, Dmitry Zlokazov, Head of Product at Revolut, states:
“The advanced customization options and simplified user experience make it even easier for customers to browse their favorite features and products. I am also particularly happy to see that Revolut is becoming even more social and inclusive, adapting to the needs of different people, relationships, and budgets. Joint accounts and group chats will help to easily resolve financial issues with anyone we share our financial lives with, combining the best of existing social and banking features.”