How to set up cash app for teenager, Cash App Age Verification - 5 May

How to set up cash app for teenager, Cash App Age Verification - 5 May
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

Anyone between the ages of 13 and 18 can get access to expanded Cash App features in the US (including P2P transactions, Cash Card, Direct Deposit, and Boost) with approval from a parent or guardian.

Once the parent or guardian approves the request, they are the legal owner of the 13-17 year old’s account. The customer 13+ is considered an authorized user for the account. The parent or guardian can track activity in monthly statements and close/pause accounts at any time by contacting support.

[For Teens] Requesting an Authorized Account

Once signed up for Cash App, anyone 13+ can initiate the account authorization request flow by either:
  1. Requesting a Cash Card or
  2. Sending a P2P payment from their stored balance

To request a Cash Card:

  1. Tap the Cash Card tab from your Cash App home screen
  2. Select your card style and customize
  3. Enter your name and date of birth
  4. Enter your parent or guardian’s information and tap Send

To send a P2P payment from stored balance:

  1. Open the Cash App
  2. Confirm funds are available in the stored balance and/or add funds to your stored balance with a linked debit card.
  3. Enter the amount
  4. Tap Pay
  5. Enter an email address, phone number or $Cashtag
  6. Enter what the payment is for
  7. Tap Pay
Either of these actions will prompt the user for more details about their identity. Once we’ve detected an age between 13-17, we’ll prompt the user to share a parent or legal guardian’s name, phone number, email address or Cashtag for approval. Cash App then reaches out to the provided contact for approval.

[For Parents or Guardians] Accepting an Account Authorization Request

Once a teen has sent a request, their parent or guardian will need to confirm the request from their Cash App account. Parents / guardians are the legal owners of their teen’s account and must have a verified Cash App account and already have a Cash Card. Once parents approve the request, the teen’s Cash Card will arrive within 2 weeks.

To approve a request:
  1. Tap the Activity icon on your Cash App home screen
  2. On Request for Approval, tap View
  3. Review the terms and conditions and tap Approve

Available Features and Limits

Once approved by a parent or guardian, anyone 13+ will have access to the following features:
  1. Send, receive and request USD payments ($1,000 per 30 days)
  2. Cash Out from balance ($25,000 per 7 days)
  3. Add Cash to Cash balance ($1,000 per 30 days)
  4. Cash Card spending and ATM Withdrawals
  5. Direct deposit
  6. Boost instant rewards
The following features are only available to those who are 18+:
  1. Bitcoin
  2. Investing
  3. Borrow
  4. Check Deposit
  5. Paper Money Deposit
  6. Cross-Border Payments
Authorized User Statements
As the owner of the account, the parent or guardian can review the monthly statements from the authorized user’s account. To do so:
  1. Log into cash.app on a desktop computer
  2. From the Activity page, click Statements and choose the month
  3. Scroll down to the Authorized Accounts section
Account owners can also reach out to support to disable the authorized account’s Cash Card, or terminate their Cash Card and Direct Deposit.

Merchant Restrictions
  1. Authorized users will not be able to make Cash Card transactions at the following merchant types:
  2. Bars, cocktail lounges, discotheques, nightclubs and tavern-drinking places (alcoholic beverages)
  3. Package stores - beer, wine and liquor
  4. Cigar stores and stands
  5. Lodging - hotels, motels, resorts
  6. Dating services
  7. Government-owned lottery
  8. Government-licensed casinos (online or internet gambling), horse/dog racing
  9. Bail and bond payments
  10. Car rental
Disputes and Authorized Users
If the authorized user needs to dispute a payment or transaction, either the authorized user or the account owner can reach out to support and open a dispute claim. To learn more about how to open a dispute check here.

Check out our Cash App13+ Website to learn more!




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