Venmo Teen Accounts: Everything You Need to Know
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Venmo Teen Accounts: Everything You Need to Know

Jason Wyatt

Venmo has long been a popular choice for digital payments, but until recently, it was only available to adults. With the introduction of Venmo Teen Accounts, teens aged 13 to 17 can now access Venmo under parental supervision. This account offers a Venmo Teen Debit Card, app access, and parental controls, making it a great option for teens to learn financial responsibility. In this guide, we’ll cover everything you need to know, including eligibility, sign-up process, fees, spending limits, and more.

What is a Venmo Teen Account?

A Venmo Teen Account is a sub-account of a parent or guardian’s Venmo account that allows teens to send and receive money, make purchases, and manage their finances with built-in safeguards. Parents maintain control over the account, ensuring security while giving teens financial independence.

Key Features of Venmo Teen Accounts

  • Venmo Teen Debit Card – A Mastercard® debit card issued in the teen’s name.
  • Venmo App Access – Teens can check their balance, send/receive payments, and track spending.
  • Parental Controls – Guardians can monitor transactions, set limits, and lock/unlock the debit card.
  • Direct Deposit – Teens can receive paychecks directly into their Venmo Teen Account.

How Does a Venmo Teen Account Work?

Venmo Teen Accounts function under parental oversight, ensuring safe money management. Here’s a breakdown of how it works:

  1. Sign-Up Process
    • A parent or guardian must create the Teen Account through their Venmo app.
    • The parent then requests a Venmo Teen Debit Card for their teen.
  2. Using the Teen Debit Card
    • The teen receives a Venmo Teen Debit Card, linked to their account.
    • The card can be used anywhere Mastercard® is accepted within the U.S.
    • Parents can set spending limits and track purchases in real time.
  3. Venmo App for Teens
    • Teens can send/receive money from friends and family.
    • They can check their balance, transaction history, and set up Direct Deposit.
  4. Parental Oversight
    • Guardians have full access to account activity.
    • They can lock/unlock the Venmo Teen Debit Card instantly.
    • All transactions default to private, ensuring safe usage.

Who Can Get a Venmo Teen Account?

  • Eligible Age Range: 13-17 years old.
  • Parental Requirement: A parent or legal guardian must apply for the Venmo Teen Account and manage it.

How Old Do You Have to Be to Use Venmo?

  • Venmo Standard Account: 18+ years old.
  • Venmo Teen Account: Available for ages 13-17 with parental oversight.

Where Can You Use a Venmo Teen Debit Card?

The Venmo Teen Debit Card can be used anywhere Mastercard® is accepted in the U.S., including online and in-store purchases. However:

  • The card cannot be used with international merchants, even for online transactions.
  • ATM withdrawals are available but may have fees.

Does a Venmo Teen Account Cost Anything?

  • No application fee
  • No monthly fees
  • No minimum balance requirements

However, additional fees may apply, such as:

  • ATM Fees: $2.50 per withdrawal at non-MoneyPass ATMs.
  • Cash Withdrawals: May incur fees depending on the ATM network.

What Controls Do Parents Have?

  • Full Transaction Monitoring – View all account activity in real time.
  • Card Lock/Unlock – Instantly freeze the debit card if needed.
  • Spending Limits – Set caps on purchases and withdrawals.
  • Privacy Settings – Ensure transactions remain private by default.

Venmo Teen Account Limits

Venmo sets specific spending and withdrawal limits for Venmo Teen Accounts to promote responsible financial habits:

  • Teen Debit Card Purchases: $3,000 per day, $7,000 per week.
  • ATM Withdrawals: $400 per day.
  • Person-to-Person Payments: $2,000 per week.
  • In-Store QR Code Payments: $2,000 per week.

Important Notes:

  • Limits are on a rolling basis (e.g., a transaction counts against the limit for exactly one week from the time of authorization).
  • Person-to-person payment limits include payments sent to a parent or guardian.

How to Open a Venmo Teen Account

To sign up for a Venmo Teen Account, follow these steps:

  1. Parental Application
    • Open the Venmo app and go to the Me tab.
    • Select the drop-down menu beneath your name.
    • Choose Create a Venmo Teen Account and follow the prompts.
  2. Teen Debit Card Request
    • Once the account is created, request a Venmo Teen Debit Card.
    • The card will be mailed to the teen’s registered address.
  3. Adding Funds
    • Parents can transfer money into the Teen Account directly from their Venmo balance or linked bank account.

Additional Features and Tips

  • Direct Deposit: Get paychecks up to two days early.
  • ATM Access: Withdraw cash at in-network ATMs for free.
  • Venmo Support: Contact customer support for account assistance.

Conclusion

Venmo’s Teen Account is a secure and convenient way for young people to manage money while providing parents with essential oversight. With the Venmo Teen Debit Card, direct deposit, and parental controls, it’s a strong option for teens learning financial responsibility. If you’re a parent looking to introduce your teen to personal finance, signing up for a Venmo Teen Account is a great first step.

For more details, visit Venmo’s official site or check your Venmo app today.