Cash App now supports accounts for kids 6-12

At a glance:

• Cash App introduces parent-managed accounts for children aged 6 to 12 to build financial literacy.
• Eligible legal guardians can create controlled profiles with allowances, savings goals, and spending tracking.
• The move positions Cash App to reach a younger audience than rivals such as Venmo, Apple, and Google.

Cash App Kids Accounts Launch

Cash App, the banking and payments app run by Block, has added support for parent-managed kids accounts. The new accounts include key benefits from the service's normal account, with an eye towards teaching financial literacy to younger users ages 6 to 12. Cash App first allowed teenage users on its platform in 2021, and the latest expansion deepens its foothold in the younger user segment by offering a structured path for children to learn money management under parental supervision.

As part of the "expanded Cash App Families experience," eligible legal guardians and parents can create managed accounts that offer "a dedicated place on the platform to send allowances, set aside savings, and track spending for their child, kickstarting their path to financial independence," Cash App says. These accounts are designed to integrate tightly with the existing Cash App ecosystem while providing controls that help parents guide their child's financial behavior from an early age.

Parental Controls And Features

Adults managing these accounts will be able to set up recurring transfers, see how their child is spending and do things like lock their child's account to prevent transactions. Kids will get a custom debit card and the ability to receive payments from up to five trusted accounts, though notably they won't be able to access Cash App itself. This limitation ensures that children can receive funds and practice budgeting within a safe boundary, while parents retain oversight over inbound sources and usage patterns.

Once those kids turn 13, Cash App says parents will be able to choose to convert their account to a "sponsored account" to unlock more features, like the ability to send and receive payments, invest in stocks or trade crypto. Those sponsored accounts are technically still monitored and controlled by a parent or legal guardian, but they do give 13-year-olds more control over how they use their money, bridging the gap between childhood learning and teen-level financial autonomy.

Competitive Landscape And Context

A parent-managed account for kids is not a new idea in the fintech space, though Cash App is trying to reach a younger audience than some of its competitors. Venmo rolled out access to its payment platform to teens between the ages of 13 to 17 in 2023. Separately, both Apple and Google also offer their own kids accounts in Google Wallet and Apple Cash Family. By targeting the 6–12 range, Cash App aims to establish habits earlier and differentiate its family offering in a crowded digital payments market.