Family accounts / Accounts for children / under-16s

Feedback & Ideas
43

Yep. But I would like to see a Monzo one! :wink:

44

I think this is a great idea.

We have a 3yr old and we pay money into an old account of ours which has a debit card so that we can spend money on her behalf eg ballet lessons and other various activities, also grandparent and the like pay money into for her birthday and Christmas.

It would be great if we could set up a childs account in her name but that we / I have control of through the app. Then when she is older she can have the card but we can still see what she is spending and where but she would also be able to see through the app, it would also be great if in the childs companion app pots were enabled so we as parents could encourage saving and then also see what she is saving. not sure how the logistics would work, but that is what i would like to see from a childs monzo app

2 Likes
45

I’d love this but I’d want

  • kid app
  • ability to view data in my app
  • link to shared pot
  • ability to migrate to full current account when kid is whatever monzo deem an ok age for a current account
  • possibly charge a monthly fee
  • possibly integrate in some way with one of the existing providers
2 Likes
46

Hopefully Monzo will pick up on this. Personally, I think this is the time Monzo can break away from Starling as they continue to focus on business accounts.

I wouldn’t mind paying an admin fee for a child account if it’s something like Go Henry.

1 Like
47

If there’s a fee then I’d use a free high street bank account for them

3 Likes
48

This is true… however I’m not sure high street do younger than 7

49

I set this up for my little one because a) interest is not bad and b) they give you £10 a year if you put change in that money machine thing so even if I put 10p a time they still give £10

www.metrobankonline.co.uk/savings/products/young-savers

If Monzo gave a better interest rate (which I doubt they would) I would move it over

2 Likes
50

I’m sure Monzo could do better than goHenry

Let Starling chase after business accounts at the expense of Current accounts. Im hoping Monzo continue to differentiate by being different!

2 Likes
51

goHenry start at 6

1 Like
52

I would love to see this as a product. I have some nieces who would really benefit

3 Likes
53

This sounds excellent, I have a kids isa with Santander… my issue with both is I have to go into a bank :slight_smile: who has time for that anymore!!!

54

I can do everything from the app so I only go in the branch once a month to drop like 20p loose change in the machine and as you can now enter account details straight on the machine I don’t ever have to wait in line.

55

My daughter’s 3 and I could open an account for her in Nationwide

Do you hate your daughter that much? :joy::joy:

1 Like
56

That’s quite cool, I mean to open the account… people are slow and machines are fast :slight_smile:

57

I think you have to speak to someone to open the account as you need to show birth certificate etc but that was like 15 mins to do as I already have an account with them.

1 Like
58

She has type 1 diabetes and I used Nationwide for her and me for the global travel insurance. It’s the cheapest medical cover I could get.

  • so, back on topic- can Monzo- do better! I would swap over like a flash to a goHenry-like account.

If Monzo offered mobile phone insurance, breakdown cover and travel insurance for the £15/month I pay…:wink:

1 Like
59

Have you compared NatWest insurance with the one you get through Revolut when paying for their yearly premium account?

1 Like
60

Just throwing this out there…image

3 Likes
61

The terms and conditions have been updated

image

Any 16 or 17 year olds want to try?

8 Likes
62

Ooo exciting.