I don’t think so. They’re about to provide something similar to what we’ve been using variously at goHenry, HyperJar, Starling and more recently Revolut.
We’d have preferred Monzo, and now my youngest will have Monzo just like his older siblings. And me 
Monzo is still a cool brand in our house.
Because no one ever sends a child a cheque?
Have to agree with others. This sounds more and more like a sub MVP “announcement to the press release”…
It’s not just the processes and the systems that are important here though.
The crucial input is the education around using the account so that the child/teenager/young adult is savvy enough to not let that happen.
It’s becoming clearer and clearer that impressionable young people are being targetted to act as money mules by various levels of organised crime gangs.
It’s tricky getting the balance right between parental control on an account and giving the child gradual independence as he/she grows older. It’s just as tricky making them fully aware of ‘Stranger Danger’ without leaving them anxiety-ridden.
Any built-in protection that their banking provider can offer is to be welcomed.
I really do wish Monzo well with this new project
@Sarahm, Would you and the team consider enabling an account number and sort code for the account once a child reaches a certain age.
Let’s say at 14 for example, giving the child more responsibility over time and getting them used to a more full featured account for once they reach 16? Many teenagers begin to have part-time jobs that pay via BACs or Faster Payments around this age.
Ok, I see that now
Doesn’t Revolut require a “parent” to approve people for P2P transfers? Like a friends list that parents manage
If only there was a physical way for the “guy in the van” to give them £5 that couldn’t be traced and didn’t record his identity on a ledger forever
Oh wait…
I’ve a very insensitive sense of humour so won’t add any more context to any man and van jokes.
There is no way I’d want my soon to be 6 year old daughter to have full unrestricted access to all of their birthday money etc sent by relatives.
When they’re a bit older it would be nice to lift these restrictions though.
Dare I say toggle / config for this kinda thing? 
I don’t intend of having kids myself, but I do have family members who have Monzo accounts and would like a kids account for their children. When I read the announcement post, I thought this was going to be a great thing for them but after seeing the updates and clarifications, now i’m not sure sure. Seems similar to the old “Pre-paid Mondo” days but with some slight tweaks to make it more restrictive, and let’s a 2nd person oversee the account.
Yes, it’s a free alternative to the likes of GoHenry, but at what costs? For me, this is another basic “let’s push it out of the door and enhance it later” endevour.
The perfect solution for me would be:
There is probably more.
I reckon a toggle for the parents to choose whether the child can see the account number and sort code of the account would be useful.
Meaning very young children won’t be able to share their account details but parents can decide who gets them and in turn has the ability to send the child money.
Then once the child has grown a little, learned a few good habits and is becoming more knowledgeable about their money in general the parents can allow them to see the account details.
That’s how I would like it to eventually work for my daughter. Right now she’s only 6months old though so has no need for any of this 
It’s certainly not a case of having too many toggles, but it does need some controls. Since children develop at different rates, trying to standardise that would be a mistake, in my opinion.
That’s par for the course these days - play it up to be super sensational when it’s often exactly the same as any other bank service, just it says Monzo on the card. We’re well into the ‘really just a bank’ rather than disrupter phase nowadays.
Nice looking screens in the latest TestFlight. I haven’t joined the waitlist just in case that overrides the form I filled in here
I joined on both
Me too
I joined the list on here and in app, however, I will discuss it with my 15yo to see whether she wants to move or happy with Revolut.
The only thing that may possibly sway her would be if her Monzo card could attach to Google Pay because her Revolut one flatly refuses until she’s 16 but, once 16, she’ll have a proper account anyway and no need for Revolut 
The Google Pay age limit is 13.
There must be a reason the likes of Revolut decides to ignore this. Annoying AF.
Sadly this is just a little too late for my nieces, who seem to have opted for Revolut (which is insanely popular in Northern Ireland).
Google Pay limit is 16, not 13. Apple Pay is 13. See my post above.
Edit: Reading further, you need a Google account which has a age restriction of 13, but this is the kicker:
“Capable of entering into a legally binding agreement with Google.”
Which is 18, or 16 with parental consent in the UK.
