Hey everyone, I’m Sarah – a Product Manager here at Monzo. We’ve got some big news. As part of our mission to make money work for everyone, we’re so excited to be launching Monzo for Under 16s! A free account for 6–15 year olds, linked to a parent or guardian’s Monzo account.
We know this is something you’ve been asking about for a while (here, here and here. Oh, and here and here). So we’ve created a form just for the community to sign up for early access.
The story so far 
We got the ball rolling back in June 2023, and started speaking to parents and guardians about navigating money with their children. To date, that’s meant:
- 12 rounds of research
- 1,200 families surveyed and interviewed
- 4,440 minutes of moderated testing
We got to know our research families through diary studies, interviews, and just a little bit of homework 
We spoke to kids during the holidays when they were refreshed from a break, and let them use emoji reactions on calls to express their feelings in a visual way.
Parents and guardians consistently told us that they want their kids to be able to safely spend their own money – whether they’re paying for the bus to school or bubble tea (a surprising theme🧋). They told us parental oversight is a must, and they don’t expect to pay their bank to give their kids the best start with money.
As you’d expect, children told us they want to spend with some independence and clearly see where their money goes.
The existing options don’t always hit the mark for parents or kids. Prepaid cards for kids often charge monthly fees for each child, with fees to add money, and tend to stop at 18 – meaning more admin for parents and guardians. Traditional bank accounts don’t always offer the best user experience, and tend to lack parental visibility and controls to keep kids safe.
What to expect 
So we know there’s space for something new. A bank account for kids, that’s fun and intuitive to use.
We think it’s going to make it easier for families to talk about money, with tools that give parents and guardians the confidence to let their kids spend and save on their own. Here’s one of our team’s children trying out an early test card in the wild for the very first time…
We’ve got some exciting ideas and we want to hear from you as we shape them.
We’d love to hear your thoughts in the thread below. You’ll also be able to leave feedback in the app once your account’s set up. We’re so excited to hear from you, but please don’t post any identifying information – especially about your children.
A sneak peek…
- The best bits of Monzo
Under 16s get many of the same features as adults. They can save with Pots, see their spending, and freeze their card. - It’s free for every child
No subscription or top-up fees. - Their own card and app
Neons ride again! This time in pink, yellow and blue for kids. Kids with their own device can get a child-friendly version of the app.
- See their spending
Parents and guardians can see kids’ transactions in their app and get notified instantly when they spend. - Customisable controls
Set limits and turn cash withdrawals and online payments on or off. - Save with Pots Children and their parent or guardian can put money aside in Pots and set saving goals.
- Apply for a 16-17s account
Kids can choose to apply for a free 16–17s account anytime after they turn 16. Or they can wait and apply for our adult current account when they’re 18.
Want early access? Join the waitlist 
We’ve created a form just for the community to sign up for early access to Monzo for Under 16s. We’ll be in touch in the coming weeks to let you know when you can get started!
A few things to know: Children must be aged 6–15, and you’ll need a parent/guardian account. Ts&Cs apply, UK residents only.
