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The Kids & Teens Instant Access Savings is a financial product designed for minors, with a parent or guardian holding control. It's an interest-earning sub-account that allows for the accumulation of savings over time.

The interest paid will depend on your package account. Money can be added by the kid themselves, or the parent/guardian. If a Kids & Teens Instant Access Savings is closed, the funds will be returned to your main balance.

For more details, read our Revolut - Kids & Teens Terms

Only a parent or guardian can create a Kids & Teens Instant Access Savings sub-account for their kid. You can do so from your main Revolut app:

• Go to 'Home' on the bottom menu
• Below your balance, tap 'Accounts'
• Choose 'Add new'
• Select 'Savings & diversify'
• Select 'Kids & Teens savings'
• Follow the prompts to set it up

You and your kid can both add and withdraw money to or from the Kids & Teens Instant Access Savings. Money will be deposited into the main account of the person who withdraws the funds. To add or withdraw money as a parent or guardian in the main Revolut app:

• Go to 'Home' on the bottom menu
• Below your balance, tap 'Accounts'
• Select 'Instant Access Savings' under your kid’s name
• Tap 'Add money' or 'Withdraw money'

To add or withdraw money as a kid in the Kids & Teens mobile app, go to 'Save' on the bottom menu and tap 'Add money' or 'Withdraw money'.

The Instant Access Savings can hold a maximum balance of EUR 4,200 per kid at any given time. If these limits are reached, we'll let you know, and you won't be able to add more money until the balance falls below the limit.

Eligible deposits are insured by the Lithuanian Deposit Insurance Scheme but some exceptions may apply. To learn more, go to our Deposit Insurance Information document.

Services are provided by the Portuguese branch of Revolut Bank UAB, which is registered with the Bank of Portugal under the registration number 3560.