(TWM) #1

Hi guys, I’m 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 I’m 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 century… :slight_smile:


Have a look at GoHenry, although I believe they charge fees as well.

How about getting a prepaid card in your name and giving that to your kids? Monese, Revolut or Loot would work fine for this. would work as well, although again they are not free.

(Only available in amateur ) #3

I’m waiting on the monzo kids account. Don’t want a fee and it’s a pain opening one with a high street bank

(Ben Green) #4

This is already on Monzo’s public roadmap :tada:

How they’ll do it, I’m not sure but I think it’ll be largely dependent on pots. Perhaps a dedicated pot, within your account, per child that both you and they have access to.

Whether or not all parents/guardians will have access or not, that’s less clear but still possible.

(TWM) #5

Yeah, loot works well but always uneasy that some shopkeeper will quiz them and it’ll all go Pete tong…

(Only available in amateur ) #6

I’d like it separate for the older kids, makes it easier to migrate to full account at 18. Whatever way they do it will be better than nothing but a card linked to a pot or sub account would be preferable

(TWM) #7

Yeah, go Henry charge 2.50 per month, which I think would be fine if there were hundreds of pounds going through it but I feel for managing maybe 20 quid a month, the fees are totally robbery. Canni teach kids the value of money if I have to give them a card that goes against any financial guidance I would be giving them… :frowning: monzo is the answer… :slight_smile:

(TWM) #8

Yeah, I think card 2 pot is the answer and the n like you say sumit more grownup for older kids… :slight_smile:


some shopkeeper will quiz them and it’ll all go Pete tong

I don’t understand what you mean - are you worried about a crooked shopkeeper robbing them by overcharging? The risk would be the same with a GoHenry or similar card.

In the end you should only put money on those cards that you can allow them to loose (and be a learning experience for your kids).

(TWM) #10

No, the shopkeeper in theory should not allow anyone to use my card other than me, so card would have my name on it whereby the kids have their own names so if shopkeeper asked question the kids could probably manage to wing it but also maybe not…


True in theory, in practice how many times did you get a shopkeeper to actually check your name? If it happens once in a year you can just let the card go and order a replacement in the app.

(Only available in amateur ) #12

If you see a 12 year old with a card it’s far more likely and could seriously dent their confidence

And if this happened to a kid with special needs that you’re actively trying to learn to deal with social situations it could result in a meltdown of epic proportions


I don’t think the shopkeeper would have any right to retain the card, but they could (should?) refuse service.

(Tony Hoyle) #14

If they believe the card is stolen it’s often store policy to confiscate it and hand it to the police. There are also codes that can be returned by the till that say to keep the card (although that would be in the case the card was definitely stolen which wouldn’t apply here).

Probably wouldn’t happen… but if I saw a 12 year old with a card I’d be suspicious and not everyone is as nice as me…


My 12 year old has a debit card from his bank and I’ll go in any shop and go balistic if some idiot on their till tried to take his card off him thinking he was too young!

(TWM) #16

My bother is that I have a 13yrs old son who has Aspergers, so while he leads a normally life his ability to lose stuff is absolutely fantastic, so while I could get him a nationwide card or the likes, my desire would be to get him his own monzo card and thereafter the default status would be card locked so he would actively have to unlock it prior to and spend and thereafter lock the card after his spend.

(Only available in amateur ) #17

Ditto but substitute son for daughter. Keeping the card frozen would be great because she is too easy to get talked into things without realising the motive and I wouldn’t want her giving her card to someone


It would be good if you as the parent could do the locking/unlocking too and also set an amount to unlock… That way it would be damage limitation if something untoward did happen


Well at the end of the day the cardholder isn’t responsible for contactless fraud so personally I wouldn’t worry about a lost card provided there was a good faith attempt at reporting the loss ASAP.

(Only available in amateur ) #20

Yes but the autism spectrum is complicated with a variety of behaviours. My daughter would be inconsolable even if the money could be claimed back. Also I want to teach her financial responsibility, not that someone else will cover her mistakes