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 register… 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. I’m not too fussed about being able to view their transactions from my app, it’s more for the convenience of me being able to set up a standing order to send them pocket money each week and them having an easy way to view their balance and spend easily with contactless payments.
They’ve just removed the top up feature from Monzo which allowed people to use Monzo as a pre-paid card. This was due to how much it cost them in fees etc so I would assume that it is highly unlikely that they will do this.
Hi @ashleyhancock! This isn’t exactly the same, but there have been a few conversations on the forum about accounts for under-16s that you might be interested in checking out – here’s the main thread.