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Monzo teen account review: For children and teens 16-17

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Our verdict

If you’re planning to set your teen up with a bank account, find out whether the Monzo teen account could be a suitable choice.

The Monzo teen account isn't a bad little offering for 16- and 17-year-olds. After all, it offers a lot of features that are likely to appeal to teenagers, such as app management, the option to split bills easily and spending insights.

However, many of these features can also be found on rival Starling Bank's teen account, which also pays interest on balances, charges no fees for foreign transactions anywhere in the world and you can pay in cash and withdraw it at any Post Office branch. Read our review of the Starling Bank teen account to see which account works better for you and your teen.


  • Full UK current account – you can do all the stuff you can do with a normal bank and more.
  • Apply quickly from the app without proof of address – you won’t be credit-checked unless you apply for an overdraft.
  • Slick, fun app that is packed with cool features.
  • Spend abroad with no fees at the Mastercard exchange rate.
  • Open a savings account directly from the app with one of the providers Monzo works with.
  • Deposit cash into the account at any store which shows the PayPoint logo.
  • Fully FCA-licensed and FSCS-protected.


  • No bank branches isn’t great for those who prefer face-to-face customer service.
  • 3% charge for overseas ATM withdrawals over £200 – other digital bank accounts (e.g. Starling Bank) have no such charges.

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Beautifully designed app and experience
Foreign ATM withdrawals limited to £200 a month

Founded in 2015, Monzo is an online bank based in the UK. It offers a number of personal and business accounts, including its teen account designed specifically for teenagers.

The teen account can be managed via mobile phone, offers a range of features and tools and can be opened in just a matter of minutes. Let’s take a closer look.

What is the Monzo teen account?

The Monzo teen account is an app-based bank account for 16- and 17-year-olds. It offers almost everything you’d get with the adult Monzo account, but the main difference is that certain age-restricted transactions, such as gambling, have been blocked.

The account comes with a contactless debit card but account holders can also use Apple Pay and Google Pay.

How does it work?

The Monzo teen account offers the following key features:

  • Account number and sort code so you can send and receive money, as well as set up direct debits and standing orders
  • An app to help you set budgets for eating out, shopping etc and split bills with friends
  • Instant spending notifications
  • No charges for spending on your debit card abroad
  • Fee-free ATM withdrawals in the EEA – for other countries, you can take out £200 for free every 30 days
  • No charges if you accidentally go overdrawn (there is no overdraft on the account)
  • Pay in cash at any PayPoint location, up to a maximum of £500 every 180 days (a £1 fee applies)

Who is it for?

The Monzo teen account is for UK residents aged between 16 and 17 years old. It’s designed to help teens get better at managing their money and give them some financial independence.

Note that if your child is younger than 16, there are no other children’s accounts with Monzo. You can compare bank accounts for younger children here.

What are the benefits?

One of the main benefits of this account is that it can be managed via an app, helping your teen to bank on the go and track what they’re spending where. There’s no overdraft on the account, so your teen can’t get into debt. They’ll also benefit from fee-free card transactions abroad, making it useful for holidays.

How to apply

It’s easy to open the Monzo teen account. All your teen will need is their phone and some photo ID, such as a passport or provisional driving licence.

Simply download the app from the App Store or Google Play Store, provide a few personal details and ID, take a selfie video and the account will be set up in minutes. The Monzo debit card will arrive in the post a couple of days later.

Is it safe?

Yes, Monzo Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. This means that your money is protected by the Financial Services Compensation Scheme (FSCS) in the event the bank goes bust. Deposits of up to £85,000 per person, per banking institution are covered.

There is no overdraft on the account so your teen cannot get into debt.

Does Monzo offer a children’s account?

No, Monzo doesn’t offer accounts for anyone under the age of 16. There are certain restrictions that apply to children’s bank accounts. For example, children can’t borrow money so children’s bank accounts don’t have overdrafts. Monzo, like some other banks, has adopted the higher age limit of 16. If you are interested in accounts for children under 16, you can compare children’s bank accounts here.

Customer service information for Monzo teen account

Email support
Telephone support
In-app or live chat
Contact form
Branch support

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