How Old Do You Have to Be to Use Current?
Find out the age requirements for Current accounts, including how teens can manage money safely with parental oversight.
Current is a financial technology company that offers mobile banking services designed for modern financial management. It provides digital tools and features aimed at simplifying everyday money matters for its users.
Age Requirements for Current Accounts
Current offers different account types based on age, primarily distinguishing between accounts for adults and those specifically designed for younger users. To open a standard Current account, an individual must be at least 18 years old.
For individuals under the age of 18, Current provides a specialized Teen Account. Minors can use this account, but it requires a parent or legal guardian to link and manage it. This structure allows younger users to gain financial experience under appropriate supervision.
Understanding Current Accounts for Teens
The Current Teen Account helps younger individuals learn about financial management. Teens receive their own debit card for spending both in stores and online, fostering independence. They can also access features like instant notifications for purchases and the ability to withdraw cash at ATMs.
Parents or legal guardians play a central role in these accounts, linking the teen’s account to their own Current account. This linkage enables parents to monitor spending, set spending limits, and even block specific merchants to ensure responsible financial behavior. Parents can also easily transfer money to their teen’s account and utilize features like setting up chores and paying allowance directly through the app. The teen account promotes financial literacy by teaching important skills such as saving, budgeting, and responsible spending.
Setting Up a Current Account for a Teen
Establishing a Current account for a teen involves a straightforward process, initiated by the parent or legal guardian. The parent must first have an active adult Current account to begin the setup. From their Current app, the parent navigates to the account management section to add a new account.
Within this section, the parent selects the option to add a Teen Account. They provide the teen’s necessary information, such as their name and birth date, and choose a card design. After entering the details, the parent can display a QR code for the teen to scan, linking their newly created account. This integration allows the teen to download the Current app and begin using it under the parent’s oversight.