Venmo is announcing Teen Accounts.
Today, we introduced the ability for parents and guardians to open a Venmo Teen Debit Card and Venmo Teen Account to give their 13- to 17-year-olds a secure, seamless way to send and receive money. The Teen Account has built-in parental controls and oversight capabilities, empowering teens to learn more about managing money and helping them build healthy money habits.
With the Venmo Teen Account, teens will be able to start experiencing Venmo with essential parental oversight. Only parents or guardians can sign up for a Venmo Teen Account on their teen’s behalf. Each account will provide a teen with a Venmo Teen Debit Card, and the parent or guardian will have the option to invite their teen to use the Venmo app.
Parents and the Venmo Teen Account
With the Venmo Teen Account, we want to make healthy money management a family affair while also giving parents and guardians the tools and features to ensure they have peace of mind and essential oversight of their teen’s interactions and transactions on Venmo.
Each Venmo Teen Account will be connected to and primarily managed by their parent’s personal Venmo account, giving parents control over and visibility into their Teen Account and activity on the app. There are several essential controls that Venmo has in place for parents to leverage, including settings that only parents can change. Only parents will be able to:
- Update privacy settings, including for payments and friends lists, which are set to private by default. Teens will also be hidden from user searches and other users’ friend lists by default.
- Block and unblock users on their teen’s behalf.
- View teens’ transactions via their own account, along with their teen’s friends list at any time.
- Be notified of significant activities on their teen’s account, including sending and receiving payments, friend requests, etc.
- Manage a teen’s Venmo Debit Card, like changing their PIN or locking and unlocking access to the card at any time.
How to get started
A parent or legal guardian must sign up for a Venmo Teen Account on their teen’s behalf. Here’s how to get started:
- Go to the ‘Me’ tab in the Venmo app
- Tap the down arrow next to your name in the top left-hand corner
- Tap ‘Create a teen account’ from the drop-down menu
- Select ‘Get started’
- Pick a Venmo Teen Debit Card color, then select ‘Next’
- Tell us about your teen, once you have inputted all the information, select ‘Done’
- Add money to your Venmo Teen Account or ‘Skip’.
Venmo Teen Accounts are available for select users starting today and will roll out over the coming weeks. To learn more about the various features accessible through the Teen Account, click here.