Im keen to set up an account for my daughter so was wondering how old do you need to be to have a Monzo account?
18 at the moment. This may change next year sometime.
ok, do you know what it may change too?
Nothings been said on that front as far as I know.
ok thanks for that, do you know when it may change so I can try again or will you notify people some how
As far as I’m aware, this is the last we’ve heard from Monzo on the topic:
No specifics on the age limit or when it will be lowered. I’m also not aware of any notification list you can sign up for, but might be worth direct messaging Naji to see if there’s something he can do.
We don’t have any kind of waiting list for when we’ll be able to offer accounts to folks under the age of 18 yet, but it’s something we’re very much looking forward to being able to offer!
No definite age as of yet but it seems that a great deal of folks get their first bank account around the age of 12 or 13, so we’d love to be able to offer accounts starting around that age and up
Under 18s accounts
Looking at their website, in addition to freezing the card, they can also block online transactions separately.
Any plans to add this functionality to Monzo?
Sorry, which company are you talking about? Did you maybe post this in the wrong thread?
My sons have accounts setup for them by me with a legacy bank and as soon as accounts are available with Monzo for people under 18, they will be moving to Monzo
Is it possible to open an account for my son as a Christmas present?
He’s reached the age where I think he needs to start to learn about managing his own finances.
He can only get a Monzo account if 18 or over. If so, it would be neccessary for him to open it as they need to see his ID and see him over a video link
It doesn’t help you for this year, but they are looking at offering accounts for under-18s, so maybe next year?
What are the regulatory issues about opening accounts for under 18 if no overdraft facilities etc. Seems a bit of a no brainer to offer this facility really.
Well, I know Metro bans foreign currency transactions, presumably due to exchange rate fluctuation risk. A Monzo youth account would be much better without this restriction so hopefully they can sort something out there!
The app is age 4+ In the App Store, is this maybe confusing?
Yeah, but what a fun account that would be to market