Meet the next generation: Monzo for Under 16s 🎉

My current arrangement :grimacing:

Yeah that’s the one thing that would make me stick with GoHenry for the time being

I have to say rooster isn’t too bad and you get it for free with an RBS account but I would prefer a Monzo child account for the kids and ease.

Sorry if this has been covered but can a grandparent open the under 16 account? or does it have to be the parent/guardian

You can do this for Vanguard too. My mum pays directly into our kids stocks and shares ISAs using a link and debit card.

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Nutmeg does it via the good old fashioned bank transfer, which is what I like though. I have annual standing orders set up for birthdays and Christmas so I don’t even have to think about it, and neither does the parent.

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Same here. My oldest daughter (12) has NatWest 11-17 account. Best thing they pay 2.70%. Other day I re-registered Monzo app on new phone with “My Name is … and I’m a Monzo customer. Now she wants Monzo as well :slight_smile:

I was just wondering about the interest rates on the account please. We’ve been looking for an.account for our son but we want to make sure it’s a good one for his interest too.

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Likely to be zero, just like the basic Monzo account.

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That’s another question needing clarification.

If a parent is a paid-tier subscriber, do the applied pots/savings benefits carry through to the Young Monzo account?

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Not seen any speculative launch date. When might the community list get the invite??? I’d love to test this out with my daughter on holiday this summer (next week :sweat_smile:) :crossed_fingers:

Top post says “we’ll be in touch in the coming weeks” if you sign up for early access so doesn’t sound like it’s coming soon.

And even then, they’ll only be in touch about when it’ll become available to people on the waitlist:

“We’ll be in touch in the coming weeks to let you know when you can get started!”

There’s probably a good reason, but I can’t imagine ever signing off a digital product announcement without the word ‘today’ in it.

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I think I signed up for Dozens a few months before it launched, for all the good that did them eventually

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This is excellent news. I’ve been looking at my options to get my son away from a provider I’m having to pay for.

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Hi @Sarahm - great news; question please: does the kids account pay interest??

Hi there! The accounts won’t have sort codes and account numbers but we are working on another way for money to get sent to the account from relatives etc. Cheques won’t be available at launch, but we’ll keep reviewing feedback on these.

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The parent / guardian will need to open the account, but we are working on some ways for grandparents and other relatives to be involved in account management if that’s required - this won’t be available at launch, as there are still quite a few things to iron out, but watch this space

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