Money can be a tough subject for anyone to talk about, especially when it comes to discussing it with your teen. As a parent, you want to teach your child the basics of smart financial management early. But with safety concerns around money apps for teens, that conversation can be difficult to start.
Cash App accounts for kids and teens are safe, secure tools parents can use to teach good financial habits. With robust parental controls, advanced fraud protections and additional privacy features, your child can practice spending, saving and budgeting with your close supervision and oversight.
Here’s how Cash App’s parental controls and safety features keep kids and teens safe from fraud, and how you can use them to teach money management skills.
A secure money app for teens and kids
Cash App Families offers two different types of accounts created for young children[1] and teens[2]:
- Managed Accounts are specifically for kids ages 6 to 12.
- Sponsored Accounts are for teens ages 13 to 17.
Both feature full parental ownership, account visibility and built-in privacy enhancements, plus the same 24/7 fraud protections that cover your Cash App account. But even in an era of digital-first banking, it’s important to give kids and teens something physical to give them a sense of ownership and responsibility over the money they spend, which is why both Managed and Sponsored Accounts come with a customizable debit card with the child’s name on it.
Managed Accounts for kids
Younger children ages 6 to 12 are eligible for Managed Accounts[1], which offer the most protection and parental oversight. In fact, there’s no way for a kid with a Managed Account to access Cash App directly, since all activity, from reviewing transactions to setting savings goals, happens in the parent’s own Cash App account under the “Families” tab. You’ll have total control over how your child manages money, allowing you to instill solid financial values early and guide young kids in decision-making.
Parents can do even more to ensure that their kid — and their Cash App account — is safe and secure. Set spending limits, block certain merchants or transaction types and designate up to five approved contacts who can send peer-to-peer (P2P) payments to your child. Any other P2P payment attempts will be blocked and a notification sent to the parent. You can also lock or unlock your child’s Cash App Card instantly from your own account at any time.
Sponsored Accounts for teens
Teens ages 13 to 17 are building independence and practicing the skills that will serve them well as adults. That’s why Cash App Sponsored Accounts for teens[2] have a more collaborative approach, allowing parents close oversight as kids develop responsible spending and saving habits.
With a Sponsored Account, teens can use Cash App directly, but only with approval from a parent or guardian, who retains total control and maintains legal ownership of the account. In addition to app access, teens can receive P2P payments and access other features that younger kids can’t — like investing in Bitcoin and trading stocks[5] — but only with parental approval.
As with Managed Accounts, parents get real-time transaction alerts and can view monthly statements, savings balances and transaction history for a Sponsored Account at any time. You can also limit spending, restrict P2P payments and specific merchants and instantly lock your teen’s debit card.
Privacy features and parental controls on Cash App
Both Managed Accounts and Sponsored Accounts include enhanced privacy features created to protect your children from scams, fraud and bad actors. Transactions at age-inappropriate merchants including bars, liquor stores and dating sites are automatically blocked for both account types. Kids with Managed Accounts have even more protective restrictions: They can’t spend Cash App funds at merchants like airlines, bus companies and gas stations.
Advanced fraud monitoring stops unauthorized P2P payments and suspicious transactions 24/7 to prevent problems before they start. Both types of accounts are private by default, which means that your child or teen’s $cashtag won’t come up in search, and there are no photos displayed. And thanks to Cash App’s banking partners, Managed and Sponsored Accounts are eligible for FDIC pass-through insurance coverage, up to $250,000, subject to terms.
Build smart spending and saving habits
Cash App Families accounts offer flexibility and peace of mind for parents while helping kids and teens build responsible financial habits. That means keeping you aware of everything that happens in a Managed or Sponsored account. You’ll receive real-time notifications and can track all activity from your own dashboard, so you always know how much your kids are spending and where they’re spending it.
This also means setting boundaries. Cash App Families accounts let parents limit how much their child can spend, block specific merchants and control their access to certain features based on where they are in their learning journey, all while offering encouragement and positive reinforcement as they get closer to their savings goals.
Set the no-fee, high-yield example
Teaching kids smart money habits doesn’t stop with showing them how to budget their allowance. Parents can set a good example of money management by choosing Cash App as their family banking app. There are no hidden monthly fees, hidden costs or minimum balances to worry about. Kids and teens learn the power of a high savings yield with 3.25% APY on savings balances[4], the highest rate Cash App offers. Plus, their customizable Visa-backed debit card offers convenience and security. That’s giving your kids a financial role model to look up to.
Here’s how Cash App accounts for kids break down in terms of parental controls, safety features and savings rates.
Learn more about parent-controlled accounts and set one up for your child or teen in Cash App today.
FAQ
Can teens use Cash App independently?
No. Teens aged 13-17 require a parent or guardian to sponsor their account.
Is Cash App safe from fraud for kids under 13?
Yes. Cash App’s Managed Accounts were created to help children aged 6-12 learn the basics of money management with close parental supervision and oversight. Kids under 13 have no direct app access and Managed Accounts are private by default, with no visible photos.
What features are blocked on a kid’s Cash App account?
Managed Accounts for kids aged 6-12 completely block standard peer-to-peer sending. They also prohibit stock trading, Bitcoin investing, ATM access, direct deposits, check deposits and international wire transfers. Sponsored Accounts for teens age 13-17 block fewer features, but parents have the option to approve Bitcoin and investing in addition to limiting spending, blocking merchants or transaction types and locking or unlocking the teen’s debit card.
How do parental controls work for spending in Cash App?
As the parent of a kid or teen with a Managed or Sponsored Account, you receive real-time notifications for every transaction. From the Families tab in your own Cash App, you can instantly set daily or transaction-specific spending limits, block certain types of merchants and lock or unlock your child’s Cash App Card with a single tap.
Who can send money to my child’s Cash App account?
With Managed Accounts, parents can designate up to five approved contacts, such as grandparents, relatives or family friends, who are allowed to send money to the child.
Are there any monthly maintenance or activation fees?
No. Cash App Families accounts offer fee-free banking, with no activation charges and no minimum balance requirements for either the parent or the child.
Disclaimers
Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. Cash App Visa® Debit Flex Cards issued by Sutton Bank, Member FDIC, and The Bancorp Bank, N.A., pursuant to a license from Visa U.S.A. Inc. See terms and conditions for the Sutton prepaid card at cash.app/legal/us/en-us/card-agreement, for the Sutton debit flex card at cash.app/legal/us/en-us/debit-flex-card-agreement-sutton and for the Bancorp debit flex card at cash.app/legal/us/en-us/debit-flex-card-agreement-bancorp. Savings provided by Cash App, a Block Inc. brand.
[1] Parents and legal guardians can open a managed account for kids 6-12. To view the eligibility requirements for sponsoring a teen or child, please visit the Sponsored Accounts section of the Cash App Terms of Service at cash.app/legal/us/en-us/tos#sponsored-accounts
[2] Teens 13 to 17 can use Cash App with sponsorship by an eligible parent or guardian. To view the eligibility requirements for sponsoring a teen or child, please visit the Sponsored Accounts section of the Cash App Terms of Service at cash.app/legal/us/en-us/tos#sponsored-accounts
[3] If you sponsor one or more Sponsored Accounts, your money is eligible for FDIC pass-through insurance through Wells Fargo Bank, N.A., Sutton Bank, and/or The Bancorp Bank, N.A., Members FDIC, for up to $250,000 per customer when aggregated with all other deposits held in the same legal capacity at each bank, if certain conditions are met. See the Cash App Terms of Service at cash.app/legal/us/en-us/tos#fdic-pass-through-insurance Cash App is a financial services platform, and not an FDIC-insured bank. Prepaid debit cards issued by Sutton Bank, Member FDIC. Cash App Visa® Debit Flex Cards issued by Sutton Bank, Member FDIC, and The Bancorp Bank, N.A., pursuant to a license from Visa U.S.A. Inc.
[4] Cash App will pass through a portion of the interest paid on your savings balance held in an account for the benefit of Cash App customers at Wells Fargo Bank, N.A., Member FDIC. To earn interest on your Cash App savings balance, you need to have sponsor approval. Exceptions may apply. Savings yield rate is subject to change
[5] Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC, subsidiary of Block, Inc. Stablecoin, Bitcoin Map, and Lightning Network are not available to New York residents. Bitcoin services provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Investing and bitcoin are non-deposit, non-bank products that are not FDIC insured and involve risk, including monetary loss. Cash App Investing does not trade bitcoin and Block, Inc. is not a member of FINRA or SIPC. For additional information, see the Bitcoin and Cash App Investing disclosures at cash.app/legal/us/en-us/bitcoin-disclosures and cash.app/legal/us/en-us/disclosures-in-app
