Cash App is targeting a new kind of customer: 6-12 year olds

Cash App is expanding its youth financial services to children aged 6-12, allowing parents to create managed accounts with debit cards, P2P payment capabilities from approved contacts, and up to 3.25% interest. Children won't have direct app access — parents control deposits and monitoring. The program includes an allowance feature for automated transfers and a pathway for kids to graduate to fuller teen accounts at age 13. Cash App already serves 5 million monthly active teen users and sees Gen Alpha as a key growth demographic.