Supervised banking for kids (or adults who need to be reigned in šŸ˜‚)

Its been mentioned before but I would love to see Monzo getting younger people on board - thinking 14/15 year olds ish - to teach them money management with their parents oversight ( ? ) - responsible budgeting at an early age - it would be investing in future customers financial awareness, responsibility and stability

Me too. Iā€™ve just seen that Iā€™ve been caught out by @hugoā€™s practise of deleting his tweets so his confirmation that under 18 year olds will be able to sign up for a current account is gone. Could someone from the team please post that here?

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I think the deleted message said the new current accounts may be for age 15 and above

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donā€™t know if there would be any data protection problems, but offering a parent a couple of pre paid cards for their kids linked to the parents current account details and parents feed so the parent could top up and monitor their kids spending habits

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Najiā€™s just confirmed this here -

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Iā€™d like an account for my little one who is 2 and then when she hits say 13 gets a restricted cash card account (no PDQ/online use etc) then at 16 upon parent approval could get limited current account then obviously full at 18

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Same here. Most of my friends and I get their cards at 16 and 17. It would be really great to have the limit at 16.

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https://twitter.com/trstnthms/status/883997753512218625

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Believe itā€™s 18 initially - With plans to offer ā€˜youngā€™ current accounts later (likely 16?) :slight_smile:

Hereā€™s a super duper handy post from @alexs! :slight_smile:

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What will be the minimum age to apply for a monzo current account?

We donā€™t have an exact answer yet but the latest updates from the Monzo team have been shared here so Iā€™ve moved your post here too, to keep all of the info in one place, I hope that helps :slight_smile:

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It doesnā€™t appear to be on the roadmap?

whatā€™s the updated roadmap for cards or accounts for under 18s? both my kids use my monzo card occasionally and it works great for them. they love the colour too.

ideally iā€™d love to be able to give them a card each which ran as ā€˜sub cardsā€™ from my card.

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There isnā€™t one. Itā€™s probably safest to assume that nothing will happen in the next 6 to 9 months as a minimum.

okay, thanks chaps.

as a workaround, could i apply for a second monzo card?

Iā€™m sure you could but given that the push to convert the prepaid cards to current accounts is starting I donā€™t know how that would work out for you.

That and the fact that under 18 use is prohibited by the Terms and Conditions of Monzoā€™s use of the prepaid cards.

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Nope. One card/account per person :slight_smile:

Itā€™s not on the board, but was mentioned that Monzo ā€œsome time after launchā€ will offer account for younger humans :smiley: , this is the post:
(press arrow in right corner to see text with proper formatting)

I would love to allocate a pocket money pot to my daughter and allow her to have her own card.

She could then upgrade to a current account when she reaches 18. Much better than coins in a piggy bank!

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I would like to see a pre-pay card for even younger children. Canā€™t see the point of money sat in another account or piggy bank.

Perhaps we could have a savings pot for pocket money that can then become an account when a child comes of age?

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