The news: UK neobank Revolut is offering teen users a free premium subscription that includes access to apps like Headway and Nibble for learning and development, SleepCycle for health and wellbeing, Uber for Teens for rideshare, and Picsart for content creation.

Trendspotting: The banking industry overall comes up short in kids and teen banking. Chase and Capital One offer products for kids, but the market for banking apps for kids and teens is dominated by fintechs like Greenlight, GoHenry, Monzo, and Acorns. And in November, Block announced that Cash App would offer savings and investing products for children ages 6–12, in addition to savings tools for parents of even younger children. This joins the teen banking product it launched in 2021.

Implications for banks: Legacy financial institutions (FIs) struggle to build primary relationships with kids and teens, seeing them as a low-value account instead of an engagement opportunity. That’s been exacerbated by the rise of the smartphone, which effectively ended the age-old practice of a parent taking a kid to open a savings account at a nearby bank branch.

The youngest consumers will now expect any experience, banking or otherwise, to be mobile-first. Fifty-seven percent of US kids ages 11–12 own smartphones, as do 29% of those ages 8–10, per an October 2025 Pew Research Center report. Mobile banking—for many years, an adaptation of online banking—will need to evolve beyond serving adults to support kids’ financial education and support their needs as they grow into adulthood.

Stay tuned: Watch for our banking report on financial wellness tools, which will be published later this year.