Cash App launches accounts for kids as young as 6
Business
Cash App just rolled out accounts for kids as young as six, letting parents set up and manage everything, including linked debit cards.
The idea is to help Gen Alpha learn about money early, while parents stay in control of deposits and designate approved senders for peer-to-peer payments.
Cash App offers automatic allowances
The service includes handy features like automatic allowance transfers, all under a parent's watchful eye.
Kristen Anderson from Cash App says the feature is a way for children to "learn about savings and savings goals," in conjunction with the app's "allowance" feature.
Once kids turn 13, they can unlock even more features, like Bitcoin or stock trading, with parental consent.