The new program will let parents create financial accounts for children between the ages of 6 and 12. The children won\u2019t have access to the app, and these accounts will be managed by their parents, who will have the ability to deposit and monitor funds. The children, meanwhile, will receive a debit card linked to the accounts that they can use to spend the money.<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/04\/U13_HeroAlt_9_16.jpg\")
Image Credits: Cash AppImage Credits:Cash App \/ Cash App<\/p>\n
The accounts can also receive P2P payments from a small number of approved users (such as grandparents), and will be eligible to earn up to 3.25% in interest, the company says.<\/p>\n
The idea is to teach children about financial responsibility, according to Kristen Anderson, group product lead for Core Networks at Cash App. \u201cCash App has been serving teen accounts for a number of years, and we\u2019ve seen through our customer base that there is just this desire to be able to bring kids into the experience earlier,\u201d Anderson told TechCrunch. <\/p>\n
Anderson described the new facility as a way for children to \u201clearn about savings and savings goals,\u201d in conjunction with the app\u2019s \u201callowance\u201d feature<\/a>, which lets parents schedule automated transfers to their child\u2019s account.<\/p>\n Tuesday\u2019s announcement also notes that children can \u201cgraduate\u201d to their own Cash App accounts once they turn 13, given a parent\u2019s approval. Once a user turns 13, they can gain access to a broader assortment<\/a> of Cash App\u2019s services, which includes buying and selling bitcoin, and even trading stocks. Those activities have to be monitored and approved by an adult, via what is called a \u201csponsored account,\u201d until the user turns 18.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco, CA Cash App already has some 5 million monthly active teen users, said Owen Jennings, executive officer and head of business at Block.<\/p>\n A number of other platforms already offer fintech services to children. MrBeast, the viral TikTok star, recently garnered government scrutiny<\/a> over his acquisition of Step, which offers financial services to users under the age of 18. Proponents of such services say it teaches their young users about financial literacy and responsibility, although critics<\/a> contend that it may actually do the opposite<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Tech companies are constantly on the hunt for new customers, and Cash App, the fintech company owned by…\n","protected":false},"author":2,"featured_media":390631,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[1972,91289,1646,166508,342,111,139,69,145],"class_list":{"0":"post-390630","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-block","9":"tag-cash-app","10":"tag-fintech","11":"tag-jack-dorsey","12":"tag-mobile","13":"tag-new-zealand","14":"tag-newzealand","15":"tag-nz","16":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/390630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=390630"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/390630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/390631"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=390630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=390630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=390630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026\n\t\t\t\t\t\t\t<\/p>\n