Under 18 Accounts

[Seldenkovs (Svjatoslavs Seldenkovs)]

I think that adding a child Monzo bank account will very beneficial for both parents and Monzo. Most people that use Monzo and require a bank account for their child often go to Revolut or the “Big 5 Banks” whilst if Monzo provided those accounts, it would make all much more convenient

[Revels]

Child accounts

Are any plans in the making to create child accounts. My 14 year old daughter is desperate to have a monzo account…?

Child Account card

is there a chance of a child/under 16s feature coming, I’d like to set up an account for my sister to start to slowly manage money, I’d put the money across like I would a pot and she has the card for it. Please Monzo also on another note please let me pay subscription from pots! I beg!

Monzo child account

Why are Monzo not launching a kids account like this @ £2.00 a month it would probably raise more money than Plus and would introduce a new generation to Monzo who will hopefully carry on using them as they grow older and start earning a wage Monzo is missing so many ways to generate revenue So glad Tom Bloomfield is out of the way so the bank can start concentrating on actually being a Bank

Child Pocket Money accounts linked to main account

I’d really love to be able to create child ‘pocket money’ accounts linked to my main account. Each Pocket money account would have its own card controlled by the parent account and could be transformed into stand alone account when child hits 16/18. Parent can see all child activity, easily transfer funds and lock account. In the cashless world we live no one offers this functionality today. Would probably also work with only virtual card that kids could add to their phone wallet. Kids have lim…

Account for my child

Could I open an account for my 14yr old daughter ? I think the way I enjoy instant notification and saving pots, I’m trying to get her into a saving routine. She using Go Henry and it’s crap.

Child Payment card linked to my account

Hi I have found a gap in the current banking market. My 12 year old son is just starting to venture out into the world and with the covid challenge where shops etc are not wanting people to use cash it’s is tricky to send him out with money to spend. I have investigated pre-loaded payment cards but they would require signing up to another financial company. What would be great would be a Monzo card which I can give to him which is linked to my account but not have direct access to my pot o…

Family accounts / Accounts for children / under-16s

It would be convenient to open an child account to give pocket money and monitor child’s spending.

Account for Children ages 7 and 9

For several years Monzo have said about creating a child account with the last one being in a thread from March last year but still no news on this. Does anyone within Monzo have any news on when this will be available? Thanks

Children's Accounts

Would be great if we could get the younger generation in on the Monzo revolution as early as possible. My son has turned 11 and wants to be able to spend his own money. Money that he has either earned through chores or presents. His options are a prepaid card or an account with one of the high street banks.

Accounts for younger children

Hightreet banks currently offer junior bank accounts from age 11, is this something monzo would think of doing?

Under 18 and student accounts!

Hey y’all! I’ve recently stumbled upon Monzo and I feel like you’re honestly missing out on one of your best target audiences. I’ll tell you why! You don’t have any accounts available to those under 18 or those who are currently a student at college/university. This is a new and modern service and you’re not really targeting young people at all. I feel like this is honestly a missed opportunity. People like me are young, worrying about the scary adult world and willing to be the ones to try n…

Card assigned to pots for kids (like HyperJar)

As a parent, I’d like the ability to get debit cards for my children - who are under 16 and unable to open their own Monzo account - and assign them to their own dedicated pot so I can monitor/top up their pots. I’ve had to set up HyperJar accounts which offer this ability, but that’s not ideal because it’s just another account for me to manage. I’d rather do this via Monzo. Also would set the children up to use Monzo at 16.

Monzo for Kids

Any body else think it would be a really good idea to have like a ‘Mini Monzo’ for Kids? I have been looking at options of kids bank accounts and I think Monzo could do it better! If enough of us are interested, perhaps they will make plans to create one in future.

Kids

Hi guys, I’m guessing you (monzo) know how soldo kids account works, whereby the kids accounts are embedded into the parents account, the problem is that saldo charge for this and I’m sure monzo would be able to offer sumit similar without the monthly charges. It just seems so hard to get young kids an account that is build for this century…

[Scott89 (Scott)]

Bumping my vote on this.

I hate the starling junior account. Its essentially a “pot” with a seperate card. Meaning I have to transfer money from Monzo to my Starling personal, and then into my daughters pot for her pocket money each month.

Its also then a pain to manage, as I detest their app.

Monzo kids account for under 16s. I would propose it acts similarly to how the original monzo accounts were?
Seperate Monzo-Kids app which pairs to parent(s) for monitoring and paying into.

This gets my vote 10x over!

[awjdean]

This idea has been suggested previously.

The main voting thread can be found here:

Family accounts / Accounts for children / under-16s

It would be convenient to open an child account to give pocket money and monitor child’s spending.

[davidwalton (Award Winning Hot Coral Analyst)]

Although the link above has been suggested several posts ago, it’s good to see you (@awjdean) back & helping to tidy things up

[Jank0x (Jack)]

This has been asked soooo many times and I 1000% agree.

Although anyone over 16 can actually use Monzo, just with some limitations. You can make direct debits, pay in cash, and use almost all full functionality of the Monzo card.

Adult based activity however is blocked.

For anyone under 16 though, the only workaround at the moment is make a virtual card on the parents account and add that to the kids mobile device via Google or Apple Pay. Just be sure there’s some money in there, or else it’s basically a having a car without petrol moment.

[davidwalton (Award Winning Hot Coral Analyst)]

*Plus/Premium paid account tiers only (VC’s)

Car with no petrol analogy works fine - aka - if they don’t have it, they can’t spend it.

[Jank0x (Jack)]

I know this already, just wasn’t mentioned.

[davidwalton (Award Winning Hot Coral Analyst)]

From November 2021…

Monzo Plus: Virtual Cards

I created pots called ‘Spending Money - [child’s name]’ for each of the kids, then created Virtual Cards which are funded from the pots. Then I added the relevant Virtual card to APay/GPay on the kids phones, so they can tap & spend their own money when out & about. The pots are auto-topped up via scheduled payments each week. It’s a decent alternative workflow to GoHenry/HyperJar/Revolut. This, plus the 1p challenge is the only real use my Personal Account gets

[NanoOp]

I like your ingenuity there! I just hope the various wallet pays don’t have issues via Monzo. Oh the woes we had in telephony at another bank!

[davidwalton (Award Winning Hot Coral Analyst)]

One of the kiddo’s turned 16 on Sunday. Applied for a Monzo account & got it. Card arrived today and all set-up. User# 9,7xx,xxx - so over 9.7 million users given access so far.

Monzo is now advertising over 8 million users, so at high it is 8,999,999 and at low it is 8,000,001

Which means there are currently between 1,699,999 and 700,001 accounts closed/dormant - a ‘loss’ of between 7.2% and 17.5% of customers compared to the current 9.7M user count.

#justmycuriousmaths

On the positive side - over 8M users!

[Jank0x (Jack)]

Having a kids account would mean more users which would be a bonus!

One option at the moment is to use a virtual card for the kids who are under 16, only caveats is its tied to the parents Monzo account, you need Monzo Plus and there’s only mobile payments available due to it being a virtual card.

Plus Monzo Plus costs a fee monthly.

[davidwalton (Award Winning Hot Coral Analyst)]

@Jank0x

One option at the moment is to use a virtual card for the kids who are under 16

I’ve used this since virtual cards launched.

@Jank0x

there’s only mobile payments available due to it being a virtual card.

That’s all the kids want or are bothered about. Physical cards? No.

@Jank0x

Plus Monzo Plus costs a fee monthly.

True. But I get other benefits with Plus/Premium that I want. And all of the ‘standalone’ kids cards (GoHenry, Hyperjar, Revolut Kids) all ending up with some hidden costs to pay. So I went all-in with VC’s. It’s worked brilliantly for 3 years and now one of the JuniorW’s has a Monzo account of their own. One down, one to go.

[Benneh79 (Chris Chamberlain)]

Quick one, how are you adding a Virtual Card to a different phone than the one you have the app installed on?

[Revels]

Add the app, add the card, delete (or just log out) of the app.

[andrew_fishy (Biggest horse fanatic in Leeds)]

You don’t even need to install the app - just add the VC to the wallet like a physical card

[EugeneNiemand]

Unfortunately Apple doesn’t allow Apple Pay for under 13. So virtual cards are not an option for me. I’m looking at Starting bank now, they have a free account for Kids. Maybe I just move all my banking there to keep it simple.

[Juno17 (Brian Whittington)]

I suggested 3 years ago that they acquire Rooster Money they would have got them at a great price and guess what they were to slow and NatWest got them

RoosterMoney & Monzo

I had to google who Roister money were so I don’t think their brand name is worth much

[Revels]

You were just wanting your investment return. That’s not a recommendation, that’s a plug.

[Juno17 (Brian Whittington)]

Whatever,what does it matter,I reckoned more so it would be a very good fit for both companies . I doubled my investment anyway with Rooster and I am sitting x3-x5 with Monzo so I was going to win either way.