Can a Kid Have Cash App? What Parents Need to Know

Cash App is a mobile payment service that facilitates sending, spending, and managing money. Many parents and guardians wonder if their children can use this popular application. This article clarifies Cash App’s age requirements and outlines how minors can utilize the service under adult supervision.

Cash App Age Requirements

Cash App requires users to be at least 18 years old to open an independent account. However, individuals aged 13 to 17 can access Cash App features through a sponsored account. A sponsored account is managed by a parent or legal guardian, who must have their own verified Cash App account. This arrangement allows minors to engage with digital financial tools while providing adults with necessary oversight.

A parent or legal guardian becomes the owner of the sponsored account, with the minor acting as an authorized user. This structure ensures that while teens gain experience with financial transactions, responsibility and control remain with the adult. Once a sponsored user turns 18 and verifies their identity, the sponsorship ends, and they become the owner of their own account.

Setting Up an Account for a Minor

Setting up a sponsored Cash App account for a minor begins with the parent or legal guardian. From their existing Cash App profile, the parent can access the “Family” section to invite a teen.

The invitation process involves sending a link or request to the minor. The teen then downloads the Cash App and follows the prompts to sign up, providing their name and birthdate. Upon the minor’s submission of the request, the parent receives a notification within their Cash App to review and approve the sponsored account. Once approved, the minor can order a Cash Card linked to their account.

Account Features and Usage Limitations for Minors

Sponsored Cash App accounts for minors come with features and limitations. Minors can send and receive money, use a Cash Card for purchases, and utilize “Boosts” for instant discounts at participating retailers. They can also receive direct deposits, making it suitable for allowances or earnings from part-time jobs.

However, certain advanced financial services remain restricted for minors. These limitations include investing in stocks or Bitcoin, accessing borrowing or lending services, and depositing checks.

Parental Oversight of Minor Accounts

Parents and guardians play a central role in managing a minor’s sponsored Cash App account. They can view the entire transaction history and monitor all activity within the account. This visibility allows parents to track spending habits and incoming funds.

Parents have the ability to approve or deny specific transactions and Cash Card requests. They can also set and adjust spending limits on the Cash Card and for in-app transactions, providing a flexible way to control expenditures. Parents can pause or close the minor’s account if needed, offering supervision.