How to set up cash app for teenager, Cash App Age Verification - 5 May
"Money is king"? All right, Boomer. Virtual payments are the gold standard these days, and teenagers now have a new way to participate.
Cash App, a mobile payment service, announced Wednesday that it is expanding access to younger users in the United States. People aged 13 and up can now open a Cash App account, which allows them, among other things, to send (and receive) money to (and from) peers. They can also ask for a physical debit card to use in person.
Until now, Cash App users had to be at least 18 years old.
The Square-owned service isn't the only one catering to a younger demographic. Greenlight is designed to give parents control over their children's debit cards, from encouraging them to save to restricting which stores they can shop at. With the help of an adult sponsor, Step allows teens to open fee-free bank accounts and obtain a secure Step Card.
For the record, the minimum age for Venmo and PayPal remains 18 — or "the age of majority" in the user's state.
Read: Can You Flip Money On The Cash App, How does money flipping work
How to make a Cash App account for a teenager
All a teen needs to do is download the Cash App and create a free account. The app will verify their identity when they try to request a Cash Card or send a peer-to-peer payment. Thirteen- to seventeen-year-olds will then be prompted to enter a parent or guardian's email address, phone number, or $cashtag username. Cash App will use that information to contact the adult and request that they approve the teen's account.
Once approved, the teen can order a Cash Card — a Visa debit card linked to their balance — and use their Cash App account to send and receive money. The card will arrive in the mail in about two weeks, but the teen can use it to shop through Apple Pay and Google Pay in the meantime.
There is one major caveat: the parent or guardian in question must have their own identity-verified Cash App account in order to approve the teen's request.
Also, keep in mind that the adult is the legal owner of the account; the teen is merely an authorized user. According to the Cash App website, the adult can "see a full record of transactions and transfers in their monthly statements," as well as "deactivate the Cash Card and account at any time in the app."
What teens can do on Cash App
Teen users who have been approved by Cash App can send, receive, and request up to $1,000 in payments every 30 days. They can deposit up to $7,500 per month and withdraw up to $25,000 once per week.
Teens can also set up direct deposit, withdraw cash from ATMs, and use Boosts, which are instant rewards from retailers such as Starbucks, Burger King, and DoorDash.
Cash App restrictions for teens
Teens do not have unrestricted access to the app. Users under the age of 18 are still barred from using some key features of the Cash App, such as investing, buying and selling Bitcoin, depositing checks, and making cross-border payments.
They are unable to use their Cash Card at bars, nightclubs, liquor stores, hotels, casinos, or other establishments. They are also prohibited from using the card to pay for car rentals, cigars, dating services, bail, and other similar items.
CASH APP AGE VERIFICATION
[For Teens] Requesting an Authorized Account
- Requesting a Cash Card or
- Sending a P2P payment from their stored balance
To request a Cash Card:
- Tap the Cash Card tab from your Cash App home screen
- Select your card style and customize
- Enter your name and date of birth
- Enter your parent or guardian’s information and tap Send
To send a P2P payment from stored balance:
- Open the Cash App
- Confirm funds are available in the stored balance and/or add funds to your stored balance with a linked debit card.
- Enter the amount
- Tap Pay
- Enter an email address, phone number or $Cashtag
- Enter what the payment is for
- Tap Pay
[For Parents or Guardians] Accepting an Account Authorization Request
- Tap the Activity icon on your Cash App home screen
- On Request for Approval, tap View
- Review the terms and conditions and tap Approve
Available Features and Limits
- Send, receive and request USD payments ($1,000 per 30 days)
- Cash Out from balance ($25,000 per 7 days)
- Add Cash to Cash balance ($1,000 per 30 days)
- Cash Card spending and ATM Withdrawals
- Direct deposit
- Boost instant rewards
- Bitcoin
- Investing
- Borrow
- Check Deposit
- Paper Money Deposit
- Cross-Border Payments
- Log into cash.app on a desktop computer
- From the Activity page, click Statements and choose the month
- Scroll down to the Authorized Accounts section
- Authorized users will not be able to make Cash Card transactions at the following merchant types:
- Bars, cocktail lounges, discotheques, nightclubs and tavern-drinking places (alcoholic beverages)
- Package stores - beer, wine and liquor
- Cigar stores and stands
- Lodging - hotels, motels, resorts
- Dating services
- Government-owned lottery
- Government-licensed casinos (online or internet gambling), horse/dog racing
- Bail and bond payments
- Car rental