Hi, the option to open child account. I want to open one for my nephew is that allowed or does the child have to be biological.
“Parent or guardian”
1 Like
Yes i am on list and can open one but before i do need to know if the child has to be biological or if i can do one for my nephew who is 10 and learning to be responsible
But are you parent or legal guardian of that child? If not, their parent or legal guardian needs to do it.
It’s not for the aunt or grandma or whatever to open it, it’s the parent or legal (by law, through the correct process).
2 Likes
I would REALLY like to open an under-16 Monzo account for my granddaughter.
I currently have a GoHenry account for her that I use to give her pocket money, but they CHARGE for everything! If GoHenry allow grandparents to open account for their grandkids, why can’t Monzo??
Both of her parents have bank accounts with different banks and are not prepared to open a Monzo account just for this…
Based on the comparison page here it looks like it’s because they’re fundamentally different types of product. Monzo child accounts are regulated bank accounts, GoHenry is a pre-paid e-money account. They’ll have different regulatory requirements to open them.
GoHenry is also a dedicated product for kids, whereas Monzo’s child accounts is an accessory feature, so the app wouldn’t be set up to only have a child account and nothing else.
2 Likes