Revolut has said its app for young people aged 6-17 years now has over 2 million customers worldwide.
When guardians are included, this number jumps to 3.5 million customers.
In the past year, total customers in Ireland on the Revolut <18 app, including kids and their guardians, increased by nearly 35%.
In line with its growth, Revolut has given the <18 app a new look and features.
These include analytics to boost financial literacy through budgeting and spending analysis.
The company is also introducing features like 'Pockets', helping young people to set aside money towards specific goals and 'Spare Change' round-ups available to all <18 app users for free for the first time.
In Ireland, some of the top 20 goals for young people already using 'Pockets' through a parent or guardian's paid plan include clothes, gadgets and summer holidays - with London the most sought-after destination.
"Our <18 app is built for teens and our goal is to be the ultimate financial companion, growing with young people and their financial needs," said Carlos Spada, Head of Product, Revolut <18.
"The features we're announcing today will empower young people to take the lead on their finances and practise healthy money habits, all with fun opportunities for personalisation and the right level of parental oversight," he added.
Today's data shows that Irish kids' Revolut balances are up from an average of €38.92 in March 2023 to €42.34 in March 2024 - but their monthly spending has fallen from €150.18 to €124.79 year-on-year.
However, the figures show that young people in Ireland received a smaller allowance from their guardians on average of €9.71 in March 2024 - down from €10.41 last year - a sign of parents’ tightening the purse strings.
