I would love monzo to do a kids account like go Henry for kids? Will they ever do one do you think?
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It has been mentioned before I think
Let me take you back in time to the early 1980s. Along came a bank (weirdly into my primary school) let us play a computer game (some naff variant of Pong) then gave us a free coin bank and a form to open a āSuper Squirrelā savings account.
33 years or so later and Iām still a customer of the same bank (with multiple accounts, mortgage, car loan, backup credit card account etc) for no reason other than blind loyalty and the fact that they got at me early. I have no doubt made them many many Ā£k ā¦
Hooray, accounts for 16 and 17-year-olds are now available. But itās important to remember that there is 12 million under 16ās in the UK. Under 16ās accounts are something that as an under 16-year-old, I think should be really important for Monzo. Itās no secret that peoples first bank account is the account is often the one they stay with, every year, there are thousands of young people opening their first bank account, and it wonāt be Monzo. Iāve created this thread to move on from the Under 1ā¦
I have a 4 year old daughter and would love the idea of saving on her behalf.
The sort of thing I was thinking about was a specific childrenās account pot where I can save for her as I go (perhaps sweep change into the pot automatically?)
Then, when she is eligible, upgrade to a full Monzo Current Account.
Perhaps a virtual card could also be considered so she could pay using a smartphone or her own when she is older. She doesnāt live with me; however, I would the ability to offer some sort oā¦
I see that Monzo now allows cards for 16 & 17 year old. But I was wondering if there were any plans to lower this requirement? There are many pre-paid cards that allow 8 year olds to registerā¦ Go Henry, Nimbl etc. But all charge an account fee and termination fee, as well as having pretty ugly looking apps. Monzo is the ideal card to introduce children to money management, and with cash becoming less and less common, it will soon be essential for kids to have some kind of card to make purchases.ā¦
I know Monzo have an account for people from 16 years up but are there any plans for childrenās accounts?
My youngest is 5 and she has just been on her first shopping trip with money she has earned over Xmas and her birthdays. She loved it and was still able to keep some money for another time.
When sheās a bit older, I think it would be cool to introduce her to a bank and how it works with debit cards, balances etc.
A basic Monzo account, with Pots for example, would allow her to save up forā¦
Hi when/if will you be bringing out bank accounts for children aged 13 ? My son feels left out as the rest of the family have cool monzo accounts .
Any body else think it would be a really good idea to have like a āMini Monzoā for Kids?
I have been looking at options of kids bank accounts and I think Monzo could do it better!
If enough of us are interested, perhaps they will make plans to create one in future.
Are there any plans in the future to offers accounts for younger teens, I have two 15 yo sons who I transfer pocket money too on a weekly basis. I would like them to benefit from the instant notifications, ability to set budgets and track spending. It would offer them a useful introduction into managing their finances and give them valuable experience as they begin to move into the adult world.
Hello, not sure if this has been asked before or is in the pipeline, but is there any plans to introduce a childrenās account from say 11 upwards. I know some high street banks offer a childās account with debit card, which can also be linked to a patent account so they can keep an eye on spending etc.
Hey folks, I think it would be really great if there was a way to add a childās card to the account.
I imagine a pot with a card attached, and with customisable payment limits set by the account owner (and perhaps the option to block or set limits on certain merchants - for example, a max weekly spend of Ā£5 at McDonaldās / total block on gambling websites)
Then, a basic version of the app showing transactions and remaining balance may be nice if / when they have a smartphone.
What do you thinā¦
Iād really love to be able to create child āpocket moneyā accounts linked to my main account. Each Pocket money account would have its own card controlled by the parent account and could be transformed into stand alone account when child hits 16/18. Parent can see all child activity, easily transfer funds and lock account.
In the cashless world we live no one offers this functionality today. Would probably also work with only virtual card that kids could add to their phone wallet. Kids have limā¦
It would be great to have more family features to allow one person to pay for and share services. Iād like Monzo plus family like I have Spotify family. I need things like family travel insurance, mobile device coverage,ā please can have some money urgently dad (at 2am)ā features, a family group, accounts for all ages, Eventually I presume theyāll get Independant but there is much that we do financially as a family unit. Not to forget Grandparent features ā¦
Hightreet banks currently offer junior bank accounts from age 11, is this something monzo would think of doing?
As a parent, Iād like the ability to get debit cards for my children - who are under 16 and unable to open their own Monzo account - and assign them to their own dedicated pot so I can monitor/top up their pots.
Iāve had to set up HyperJar accounts which offer this ability, but thatās not ideal because itās just another account for me to manage. Iād rather do this via Monzo. Also would set the children up to use Monzo at 16.
I think that adding a child Monzo bank account will very beneficial for both parents and Monzo. Most people that use Monzo and require a bank account for their child often go to Revolut or the āBig 5 Banksā whilst if Monzo provided those accounts, it would make all much more convenient
Please Monzo look at offering secondary accounts for kids / can be linked to a connected adult
I am so close to leaving Monzo and moving to another bank which offers this
Happy for it be a premium service and would be a truly fantastic way of teaching kids money management
It has always felt that Monzo led on so many ideas but now you are behind completion
This should happen, and needs to, for under 16ās or a savings account or something like GoHenry this would be a great feature to happen for Monzo
Would be a fantastic idea to have accounts for children over 13 years old that are linked to Monzo main account so you can give pocket money and they can choose if they spend of save
Hi guys, Iām guessing you (monzo) know how soldo kids account works, whereby the kids accounts are embedded into the parents account, the problem is that saldo charge for this and Iām sure monzo would be able to offer sumit similar without the monthly charges. It just seems so hard to get young kids an account that is build for this centuryā¦
15 Likes
mpb900
8 July 2024 07:22
5
Every time I get asked to complete a survey or provide any feedback, this is the first thing I mentioned that I would be willing to pay for above any other insurance etc.
New announcement of accounts for under 16. Replying to this post as it is on the first results page of duckduckgo:
mans76
2 September 2024 08:42
7
Has anybody actually managed to get an under16s account yet? I was speaking to someone yesterday who seems to think their friendās kid had the card and the account. Every time I look it asks me to join the waitlist. Are they drip feeding the account opening maybe?
WhyAydan
2 September 2024 08:46
8
Hey everyone, Iām Sarah ā a Product Manager here at Monzo. Weāve got some big news. As part of our mission to make money work for everyone, weāre so excited to be launching Monzo for Under 16s! A free account for 6ā15 year olds, linked to a parent or guardianās Monzo account.
We know this is something youāve been asking about for a while (here , here and here . Oh, and here and here ). So weāve created a form just for the community to sign up for early access.
Yeah quite a few people have accounts.
mans76
2 September 2024 09:05
9
Thanks. If they canāt commit to specifying a date I might move over to Starling.
davidwalton
2 September 2024 11:13
10
I have one for my remaining under16 offspring. It works well at this point - if a little basic - and there are development plans to make it much better.
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