Best Venmo Alternatives for Teens - What Are the Options Under 18?

Are teens under 18 stuck with cash only for their money? Most would love to use Venmo, but it's not allowed under age 18. I found two good options that teens can use without breaking any rules.
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The information and opinions within this content are for information purposes only. Guidance is based on personal interpretations and in no way, represents legal or financial advice.
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Bank accounts mentioned:
Capital One Money: www.capitalone.com/bank/check...
Chase Bank High School checking: www.chase.com/personal/checki...
Wells Fargo Clear Access Account: www.wellsfargo.com/checking/c...
0:00 Why Teens Want Venmo
0:41 Other Money Apps
1:04 Step App for Teens
2:31 Zelle for Teens
4:08 Summary of Options
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Disclaimer: All information on this channel is my own opinion and not intended to be financial advice. Consult a CPA or financial advisor if you have questions about your own financial situation.
Disclaimer: All information on this channel is my own opinion and not intended to be financial advice. Consult a CPA or financial advisor if you have questions about your own financial situation.

[@jenseegmiller1312]

This super helpful! I've been needing to come up with a better way to manage allowances for my kids and help them budget and build credit. I'm really looking forward to your future videos!

[@TLRBeef]

As of Nov 3, 2021, Square expanded the age minimum to 13 for their Cash App.

[@SmartFamilyMoney]

Oh that's exciting news!

[@lodgin]

It's so crazy you guys have restrictions for people underage but also fees for having a bank account o.o

[@SmartFamilyMoney]

I never claimed any of it made sense. 🤣

[@Luv.jennifer08]

Very helpful

[@SmartFamilyMoney]

Glad you liked it!

[@emm9y575]

apple cash allows you to use with without verification. However, you cant send/receive/spend $500+ unless verified.

[@SmartFamilyMoney]

Oh good to know!

[@SauceBroskie]

Apple Cash is only for 18+

[@adriannnro3937]

bruh, only for US, dislike :/

[@Godsbelovedkid]

💀

[@jesikan4285]

Capital one money account doesn't let teens use zelle anymore I just called and they said they only let 20% teens get it there's no qualifications it's just random pick for who can get it

[@SmartFamilyMoney]

UPDATE April 2022: Now get $1 free instantly!
Use this link to get the Step App: step.com/r/EZFIV
Or enter code EZFIV in the app.

[@StepMobile]

Thanks for the shout-out! We're proud to help young adults start their financial journey off right. We're lucky to have you in the #StepFam! 💙💗💛

[@SmartFamilyMoney]

@@StepMobile thanks! My daughter and I are really enjoying Step!