CASH APP LAUNCHES PARENT-MANAGED ACCOUNTS FOR KIDS

The new accounts, part of Cash App's expanded Families experience, give eligible guardians a way to create managed accounts for younger users. Parents can use the accounts to send allowances and teach basic money management skills. The kid accounts include key features from Cash App's standard offering, though specific details about available functions remain limited. The platform did not immediately clarify which features would be available on children's accounts or what parental controls would be included. Cash App, owned by financial services company Block, first introduced teen accounts two years ago. The expansion to younger children represents another step in the company's push to build financial literacy habits early. The accounts arrive as other financial platforms, including traditional banks and fintech startups, increasingly offer youth banking products designed to teach money management fundamentals.