If you’re looking to apply for a debit card and money app for your child, it’s not always easy to know where to start. This guide takes a closer look at how the NatWest Rooster Money app and Monzo account for Under 16s compare, so that you can get a better idea of the features available and any relevant fees before making your decision.
Pocket money app Rooster Money, started off in 2016 but it wasn’t until 2021 that it was acquired by NatWest. The Monzo for Under 16s account, on the other hand, launched in early 2025, making it the newbie of the kids’ finance market.
Both accounts come with a child and parent’s app, but while Rooster Money is designed for kids between the ages of 6 and 17, Monzo’s account is for 6- to 15-year-olds.
Monzo is a UK licensed bank which means deposits are protected up to £120,000 by the FSCS. By comparison, although Rooster Money is part of NatWest, it doesn’t offer FSCS protection. Instead, it’s licensed by the Financial Conduct Authority (FCA) to deal in electronic money. This means your money will be ringfenced and held in a segregated account where it can’t be touched by Rooster Money itself.
Both Monzo and NatWest Rooster Money allow parents to make regular pocket money contributions, although with Rooster Money this depends on the plan you have. Rooster Money offers a free basic version (Virtual Tracker) which allows your child to track money and spending habits without real cash, or there’s the more comprehensive Rooster Card subscription that’s designed for older children and offers a wider range of features.
Both Monzo and NatWest Rooster Money let relatives and friends add money to the accounts, although the process is more convoluted with Rooster Money. Monzo customers can simply send a payment link, while with Rooster Money you need to send over the full account details for the parent account, including sort code and account number.
If you have more than one child, you may wish to open multiple accounts – with Monzo, you can open up to 5 accounts but Rooster Money imposes no such limit. In practice, for most people this is not going to be much of an issue. Rooster Money also has a higher daily ATM withdrawal limit of £200 compared to Monzo’s £100.
Monzo doesn’t offer customised cards, but children have the choice of a bright yellow, blue or pink card. With Rooster Money, kids can choose from a trio of free coloured designs or you can pay £4.99 for a more customised card, such as a green football themed card or a glittery rainbow one.
However, Monzo does pay interest on kids savings, which is rare to find with a kids money app.
Winner: Monzo wins out purely due to the fact it pays interest on your child’s savings.
There are a lot of similarities here – both Monzo and Rooster Money allow parents to set spending controls, so your child can’t spend more than this limit. Plus, you’ll receive notifications every time money is spent and you can freeze and unfreeze cards in the app, making it easy if your child loses their card and then finds it again.
Both accounts also allow you to set savings goals, which means your child can start squirrelling away money to buy a much-desired new toy or pay for a day out. However, Rooster Money goes one step further by allowing you to create a list of chores for your child to complete to earn their allowance. It also offers a range of learning resources. Monzo, on the other hand, doesn’t offer either of these features.
Winner: Rooster Money. Although there are plenty of similar features, Rooster Money’s range is a little more comprehensive.
Round 3: Fees
Provider
Monthly fee
£0
£0
Card delivery fee
£0
£0
Loading fee
£0
Free
UK card transaction fee
£0
£0
UK cash withdrawal fee
£0
£0
Fees abroad
0%
0% (spend money overseas fee-free up to £1,000 per month, 3% thereafter)
Replacement card fee
£5
Free for the first replacement (per household), £5 thereafter
There are no monthly account fees for the Monzo for Under 16s account, nor are there any loading fees. But you as the parent must hold a Monzo account before you can apply for a child account.
Similarly, there are no fees for Rooster Money as long as you’re a NatWest Banking Group customer yourself. Note that you can only have 3 free subscriptions – go over this limit and a fee applies.
There’s also the option to subscribe to Rooster Money if you don’t hold a current account with NatWest, RBS or Ulster Bank. You can get a 1-month free trial for its card subscription and the amount you pay after that depends on the plan you have. The Virtual Tracker is free to use each month, but its features are limited. The Rooster Card plan costs £1.99 a month or £19.99 a year. Under the subscription you get 3 free card loads per day, up to a total of 10 per month.
There’s no fee to have your card delivered with either Monzo or Rooster Money, but Monzo charges £5 for each replacement card, while Rooster Money offers the first replacement free, then charges £5. There are no fees for using either card in the UK – for either spending purposes or cash withdrawals. Monzo also offers fee-free transactions abroad, but Rooster Money limits this to £50 per month, before a 3% fee kicks in.
Winner: Monzo as it charges fewer fees overall.
Overall winner: Is Monzo for Under 16s better than NatWest Rooster Money?
Choosing between these 2 accounts isn’t an easy decision to make. NatWest Rooster Money lets you open an unlimited number of accounts, has a broader range of features and higher withdrawal limits. If you want your kids to learn about money, it might have more tools to do that.
Having said that, Monzo is still a very worthy contender and in terms of fees, it’s the cheaper account and offers FSCS protection. It also pays interest on your child’s savings, which is not something NatWest Rooster Money currently offers.
Although you can avoid Rooster Money’s monthly fee if you’re a NatWest/RBS/Ulster Bank customer yourself, you could still be hit with loading fees as well as charges when your child spends on their card abroad.
Ultimately, you’ll need to base your decision on what’s more important to you, as well as which bank you yourself would prefer to have an account with. This one is too close to call, so it really depends what you’re looking for.
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Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time.
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GoHenry gives financial independence to children and full control to parents. We look at how it works and what features it has to see if it’s worth the fee.
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