Cash App Launches Debit Card for Kids with Parental Controls

Cash App, part of the Block, Inc. ecosystem, has introduced a new financial service—Managed Accounts—designed for children aged 6 to 12. As part of this initiative, a free Visa-based debit card is issued, fully controlled by parents.

The key difference between this service and similar solutions for teens is the complete lack of app access for the child. All operations, including setting spending limits and blocking purchase categories, are managed exclusively through the parent’s account. This allows children to safely learn the basics of financial literacy without exposure to the risks of uncontrolled spending.

The Managed Accounts feature includes the ability to earn 3.25% annual interest on the account balance, one of the highest rates among similar offerings. Parents can set up automatic transfers to their child’s account, such as regular allowances for completing chores or pocket money. The card supports spending limits and the ability to block unwanted categories, such as gambling or payment systems*.

Security remains a priority: all transactions trigger instant notifications for parents, and the child’s profile is not visible in public searches. Funds in the account are FDIC-insured up to $250,000, just like traditional bank accounts.