Cash App
Strengths
- The best unconditional savings rates for youth in the index (3.5% teens / 3.25% kids).
- The app teens already want — 5M+ monthly active sponsored teen accounts — with real parental rails behind the familiar $Cashtag.
- Supervised investing that includes both stocks and Bitcoin, with granular parent permissions.
Weaknesses
- The open P2P network exposes teens to scams, and Block's 2025 CFPB settlement over fraud handling is a real trust caveat.
- Nearly zero financial education content.
- Support quality lags behind the banking features.
$0/mo
$0 — no monthly fees, no subscription, no minimums for either account type. Watch: instant transfer fees on some optional services.
Kids (6–12): parent-controlled managed account, private by default, up to 5 approved contacts, spending limits, card lock. Teens (13–17): sponsored account with own app; the sponsor owns the account, sees real-time transactions, sets custom limits (including separate caps for stock and Bitcoin purchases), approves contacts, and can pause everything from the Family Hub. Age-restricted merchants are blocked automatically.
Teen savings earn 3.5% APY (Cash App's top rate, no minimum, no conditions) and kids earn 3.25% — the best unconditional youth savings rates in the index. Savings goals built in.
Real-time alerts, instant card lock, blocked age-restricted merchants, sponsor visibility. Caveat: Cash App's open P2P network is a known scam vector, and Block paid a major CFPB settlement in 2025 over fraud-handling failures.
Yes — pass-through via Wells Fargo Bank, N.A., Sutton Bank and/or The Bancorp Bank, Members FDIC (sponsored accounts and savings balances, conditions apply).
Teens can invest in stocks and Bitcoin in-app — with per-category permission toggles and limits controlled by the parent. The only card in the index with supervised crypto access.
Minimal — no structured program, learning by doing only.
In-app chat and phone support; historically the weakest link, improving.
United States only (family accounts).