Online bank Revolut has launched a new version of its app which includes joint bank accounts.
Customers will now be able to establish an additional account that will be shared by two individuals, whether they are partners, family members, or friends, with the app’s 9.0 update.
Both parties must be Revolut users in order to establish joint accounts, and the app must be upgraded to the version that supports the functionality.
They cannot be a part of another Revolut joint account and must reside in the same nation that their respective personal accounts were established in.
A group chat function in the latest version enables many users to negotiate payment specifics within the app. End-to-end encryption will be used for all chat communications.
Customers can opt out of the chat function should they not want to use it, and they can either enable or disable it completely in the security & privacy section of the app.
“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,” Revolut head of product Dmitry Zlokazov said.
Revolut recently started issuing credit cards and loans, and last month the company announced plans to start selling vehicle insurance in Ireland.