Cash App now offers parent-supervised debit card accounts for children and teens aged 6 to 17, providing tools to teach financial literacy while maintaining strict parental oversight and security.

Key Points

• Managed Accounts are available for children ages 6 to 12, while Sponsored Accounts are designed for teens ages 13 to 17.
• Parents can set spending limits, block specific merchants, and instantly lock or unlock the physical Cash App Visa Card.
• Managed Accounts require parents to handle all app activity, whereas Sponsored Accounts allow teens limited, supervised access to their own accounts.
• Safety features include 24/7 fraud protection, automatic blocking of age-inappropriate transactions, and private account settings by default.
• Funds held in these accounts are eligible for FDIC pass-through insurance of up to $250,000, subject to specific terms and conditions.

Why it Matters

These accounts provide a controlled environment for minors to practice modern financial management, such as budgeting and saving, without the risks of unmonitored spending. By integrating parental guardrails with digital banking tools, Cash App helps families transition children into financial independence while ensuring security and oversight.