As a retired financial planner with over 25 years of experience, I have advised countless clients on the topic of setting up Cash App for teens and young adult children under 18.
The first question many parents have is simply – can kids use Cash App? The short answer is yes, with some restrictions. Cash App allows anyone between 13 and 17 to open an account, but to access all features, teens need a verified parent or trusted adult to sponsor them. This “sponsored account” allows minors to use many Cash App features under parental supervision.
In my experience, many parents have questions about the age requirements, risks, benefits, and monitoring capabilities when considering Cash App for their kids. The goal of this comprehensive guide is to explore:
How to use Cash App if you’re under 18: In the following sections, I will use my insider knowledge to outline:
- Cash App age restrictions – What is the minimum age to use Cash App? What features are limited for teens under 18?
- Setting up parental controls – Step-by-step guide for parents to oversee their child’s Cash App usage.
- Potential risks – Security issues, overspending, and other hazards parents should be aware of.
- Alternatives to Cash App – Other money management apps that offer robust parental supervision tools.
Essentially, if you’re a parent wondering, “can I get a Cash App card for my child?” or “how old do you need to be for Cash App?” – this guide is for you.
My goal is to empower parents with the knowledge to make informed choices about introducing Cash App to their teenagers or children under 18, maximizing the financial education benefits while minimizing the risks. Let’s get started!
Quick Answers – How To Use Cash App Under 18
- Can kids under 18 use Cash App? Yes, with certain restrictions. Cash App allows users aged 13-17 to open an account under the supervision of a verified parent or guardian. This sponsored account approach lets minors access many Cash App features, highlighting the importance of parental involvement in digital finance. While this answers the primary query, the nuances of age restrictions, feature limitations, and parental control mechanisms are detailed further in this guide.
- Setting up parental controls is crucial for monitoring and managing your teen’s Cash App usage. This involves linking the parent’s account to the child’s, providing oversight on transactions, and ensuring safe digital money management.
- Understanding potential risks such as security concerns, overspending, and exposure to online scams is essential. This guide delves into effective strategies to mitigate these risks, ensuring a safe financial experience for minors.
- Exploring alternatives to Cash App can offer different levels of parental supervision and financial education tools. This guide compares various money management apps to find the best fit for your family’s needs, from Greenlight to FamZoo.
Table of Contents
We’ll Start With A Brief Overview of Cash App For Teens
Cash App is a popular peer-to-peer payment app that allows users to send, receive, spend and invest money from a smartphone. It offers features like free bank transfers, a Cash Card for purchases, Boost savings rewards, and even bitcoin and stock investing.
Over the past few years, Cash App has expanded to allow users ages 13-17 to sign up for an account. However, minors have restrictions on certain transactions. That’s why Cash App now offers “sponsored accounts” which allow teens to use Cash App with supervision from a parent or guardian.
I’ll explain exactly how parental approval works, along with all the monitoring and control options available. While Cash App offers many benefits, there are also risks to understand, especially when it comes to minors. My guidance comes not only from financial expertise – but decades of parental wisdom as well!
Let’s take a closer look at some of the features of Cash App for minors and teenagers.
| Feature | Benefit |
|---|---|
| Debit card and account set up | Teens can easily set up their own account and get a linked Visa debit card to use for purchases and cash withdrawals. |
| Parenting controls and restrictions | Parents can monitor their teen’s account activity, set spending limits, and enable or disable certain features as needed. |
| Age requirement (13 years and up) | Cash App is only available for users aged 13 and up, which means that teens can start learning valuable money management skills at an early age. |
| Transfer money easily | The app makes it simple to transfer money to friends and family, including direct deposit or Google Pay and Apple Pay. |
| Budget and save smarter | With a mobile payment service, teens can learn about budgeting, saving, and responsible spending habits in a safe and secure environment. |
Let’s explore the specifics on using Cash App under 18 so you can determine if it’s the right fit your family’s needs.
Cash App Age Restrictions and Account Set Up for Minors
So you are wondering if you can use Cash App for teens? The first question many parents have is – what is the minimum cash app age requirement and what features are limited for young users? Let’s break it down:
- Do you have to be 18 to use Cash App? No, but users under 18 have restricted access to certain features like bitcoin trading and borrowing/lending money through the Cash App credit system. A parent or guardian must supervise the account activity for Cash App For 13+ year olds.
- Can a 14 year old have Cash App? Technically yes, but with limitations. Cash App allows anyone between 13 and 17 years old to open an account. However, for full functionality including investing, bitcoin, and loans, users must be at least 18 years old.
- Cash App under 13 is prohibited in their terms of service. Users must prove their identity and age through an ID verification process. Attempting to falsify age information to open an unauthorized minor account is grounds for permanent account suspension.
| Question | Answer |
|---|---|
| Is there a Cash App for minors? | There is no specific Cash App for minors, but minors can use the app with parental supervision. |
| Can a 14 year old use Cash App? | Yes, a 14-year-old can use Cash App with parental approval and supervision. |
| How do I approve my child’s Cash App? | To approve a child’s Cash App account, a parent or guardian must link their own bank account and monitor the child’s transactions. |
| How do I find my child’s Cash App? | Parents can log in to their own Cash App account and access the settings tab to view and manage their child’s account. |
Now that we’ve covered the Cash App age requirements, let’s talk about the account set up process for minors under 18.
To read more articles about Teens & Money, click here. And to find out if you can Borrow From Cash App, read this article.
Can I create a Cash App for my child?
Yes, through “sponsored accounts” – Cash App’s system for linking a parent’s account to a child’s account. The process works like this:
- Parent sets up their own Cash App account and goes through ID verification.
- In account settings, parent taps “Invite Someone to Cash App” then selects “Invite a child between 13-17 years old”.
- Parent sends invitation link to child.
- Child follows link, downloads Cash App, enters parent’s name and phone number, confirms identity.
- Parent receives notification and approves child’s account by tapping “Confirm Identity”.
Once the sponsored account is approved, the parent account is linked to the child’s Cash App and will have oversight capabilities.
The next section will provide more detail about setting up parental controls and supervision tools.
But first, do you have any other questions about the Cash App minimum age or account creation process? Let me know if you need any clarification or have additional topics to address related to Cash App for minors!
Setting Up Parental Controls for Cash App with Minors
Now that we’ve covered account creation for users under 18, let’s discuss the critical topic of oversight – how parents can monitor their child’s Cash App activity.
The first question many parents ask is: Can I get a Cash App card for my child? The answer is yes, but card usage can and should be controlled through the parent account.
Cash App parent approval is required for users under 18 to activate certain features, including:
- Cash Card ordering
- Investing (stocks and bitcoin)
- Borrowing/lending money
- Sending payments over a certain $ amount
Parents can set up a family Cash App account, which allows them to monitor and manage their child’s transactions.
- To use Cash App under 18, a parent or guardian must approve the account and link it to their own bank account.
- Parents can order a Cash App card for someone else, which can be linked to their child’s account for easy spending.
- Log in to their own account and access the settings tab.
- From there, they can view and manage their child’s account.
By default, accounts for 13-17 year olds have these transactions blocked until parental approval. Approvals can be toggled on/off as needed.
Cash App Family Account Linking
Beyond approvals, how does Cash App family account linking allow parents to oversee teen usage?
- Viewing transaction history – Parents can view a complete list of all payments, transfers, withdrawals, investments, and other transactions.
- Account balance oversight – At any time, parents can check account balances to make sure funds are being used responsibly.
- Parental purchase approvals – Require teen to request permission for individual purchases like concert tickets above a set price limit.
- Freeze Cash Card – If Card is lost or teen overspends, parent can instantly freeze associated card(s).
- Pause account activity – Temporarily halt all transactions in extreme cases of irresponsible usage.
In addition to oversight, discussing healthy financial habits with teenagers is equally important when introducing tools like Cash App. Parents should set clear guidelines for saving vs spending and have frequent conversations to reinforce money management skills.
Step By Step Guide How To Set Up a Cash Account For Your Teenager
| 1 | Download the App on your child’s smartphone or tablet from the App Store or Google Play. |
| 2 | Open the App and create an account by entering your child’s phone number or email address. |
| 3 | Verify your child’s account by entering the verification code sent to their phone or email. |
| 4 | Link your child’s debit card or bank account to their Cash App account. |
| 5 | Set up your child’s profile, including their name, date of birth, and profile picture. |
| 6 | Customize your child’s account settings, including notification preferences and security features. |
| 7 | Add parent controls to limit your child’s spending and access to certain features. |
| 8 | Your child is now ready to use their account to manage their finances! |
Adding funds and sending/receiving money on Cash App
| Step | Description |
|---|---|
| 1 | Open the App and log in to your child’s account. |
| 2 | Tap the “Add Cash” button to add funds to your child’s account. |
| 3 | Enter the amount you want to add and select the source of the funds (bank account or debit card). |
| 4 | Tap the “Add” button to complete the transaction. |
| 5 | To send money, tap the “$” icon at the bottom of the screen and enter the recipient’s information. |
| 6 | Enter the amount you want to send and tap the “Pay” button to complete the transaction. |
| 7 | To receive money, have the sender enter your child’s Cash App username or phone number and the amount they want to send. |
| 8 | The funds will be deposited directly into your child’s Cash App account. |
With the proper parental controls and open communication in place, Cash App can be a valuable way for teens to learn financial responsibility. But oversight is critical – without it, hazards like overspending, fraud, and investment losses represent far too great a risk to minors.
| Tips for Parents |
|---|
| Set up the account yourself |
| Explain transaction limits and fees |
| Regularly check transaction history |
| Limit the amount of money available on the account |
Potential Risks of Cash App for Minors
While Cash App can provide financial education benefits with proper supervision, allowing teens access to financial accounts also comes with hazards that parents should be aware of.
- Is Cash App safe for teens? Fundamentally, yes – Cash App uses industry standard encryption and security measures to protect accounts and transactions. However, some risks still exist:
- Overspending – Without parental purchase approvals and transaction limits enabled, teens may be tempted to overspend their balance which can trigger overdraft fees.
- Scams – Teens can be vulnerable targets for phishing attacks, fake cash giveaways, and other online scams – especially if parents don’t review activity regularly.
- Cash Card misuse – Just like lost debit cards, lost or stolen Cash Cards used by minors can lead to unauthorized purchases or ATM withdrawals.
- Fee confusion – Misunderstanding of policies around card transfers, withdrawals, or investment fees can erase value quickly without financial experience.
- Unsafe sharing – Requesting/sending money from unknown users can be unsafe and inappropriate for minors without guidance.
- Borrowing issues – If loan features are enabled, teens may fall prey to predatory lending terms or spiral into unmanageable debt.
- Investing mistakes – Without an understanding of markets, bad trades or volatility can wipe out teen investment account value rapidly.
Just like with other financial products, proper education around these hazards combined with safe limits and controls put in place by parents can help teens avoid issues and use Cash App responsibly as a learning opportunity.
However, some parents understandably prefer more restrictive alternatives over Cash App for their kids – so the next section will compare some options. As always, let me know if you need any clarification or want me to expand on the associated risks of Cash App for minors!
- Check out some of our Money Quotes about how we view finances.
Alternatives to Cash App for Teen banking and payments
Teaching kids early on about the power of financial literacy and money management skills can have a significant impact on their future. Studies have shown that children who learn these skills at an early age are more likely to make better financial decisions as adults.
In contrast, those who don’t learn these skills early on can struggle with debt and financial insecurity later in life.
According to a survey by the National Financial Educators Council, only 24% of millennials demonstrate basic financial literacy skills, while 58% say they’re worried about not having enough money for the futur
While Cash App offers a solid system for parental oversight, some families may prefer more restrictive or teen-focused financial apps. Let’s compare some top alternatives:
Greenlight – The Debit Card For Teens
Designed specifically for kids and teens, Greenlight provides parent-managed debit cards, customizable controls, and educational resources around earning/saving. Parents can automate allowances, assign chores, set spending notifications, and restrict purchases by category. An excellent fully-featured option for teaching money skills.
Current Mobile Bank
A mobile banking app for minors aged 8-18 designed to foster financial literacy. Parents manage permissions for ATM/debit card usage while teens learn to track balances and transactions. Daily spending limits encourage the importance budgets.
FamZoo
Helps families manage allowances and teach financial responsibility. Parent accounts distribute funds to kid sub-accounts and oversee purchasing. In-app family messaging and debit cards for each person. Custom distribution schedules and contribution matching incentives promote saving habits.
GoHenry
Prepaid debit cards for kids with parental controls on withdrawals and spending visibility. Parents can automate allowance delivery, provide chore income, set category spending limits, and more. Useful app for hands-on learning.
Apple Cash Family
Apple’s proprietary peer-to-peer payment system for minors. Parents squarely control settings and transfers while kids access a separate debit card. Offers integration advantages for iOS families alongside typical monitoring tools.
Venmo Teen Account
Mobile payment app owned by PayPal with money sharing abilities. New teen accounts feature parental guardrails like purchase approvals and activity reviews to safely expose teenagers to financial experiences.
Each app takes a somewhat unique approach, but all provide more structured guardrails over teen transactions than regular Cash App accounts. Choice comes down to iOS vs Android ecosystems and specific feature priorities for allowance, saving, investing, parent/teen controls, etc.
In the end, engaged parental involvement, not any single app, makes the biggest impact guiding teens through early financial literacy skills. Proactive conversations, reasonable controls, and supporting learning around balanced saving/spending is key – no matter which mobile money transfer platform families opt to leverage.
Conclusion – Cash App Provides Valuable Learning Opportunities If Used Responsibly
In closing, I hope this guide served as a comprehensive resource for parents exploring whether or not to allow their teenagers under 18 to access tools like Cash App.
We discussed key topics like:
- Minimum Cash App age and identity requirements
- Account setup steps for linking parent/child profiles
- Cash App features specifically designed for family supervision
- Parental control best practices around approvals and oversight
- Understanding risks ranging from overspending to scams
- Comparing Cash App with more restrictive alternative money apps
The overarching theme is that with proper controls and engaged guidance from parents, Cash App can provide financial learning benefits for teens. It exposes them to real concepts around bank accounts, debit cards, saving vs spending, and even investing that set the stage for future financial literacy.
However, handed over carte blanche without restrictions, even well-intentioned teenagers can misuse features and get themselves into trouble. That’s why parental oversight matters so much, and why more locked-down teen banking apps provide an alternate path.
Every family must decide what level of exposure or limits fit their situation best. But with open conversations and reasonable guardrails put in place, Cash App can play a constructive role in preparing minors for financial independence down the road.
I hope the insights from my 25+ years as a financial advisor prove valuable guiding your family’s approach! Please feel free to reach out with any other questions that come up on the topics covered here.
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Note: The content provided in this article is for informational purposes only and should not be considered as financial or legal advice. Consult with a professional advisor or accountant for personalized guidance.
