Venmo Launches Accounts for Teenagers with Parental Controls

Venmo announced Venmo Teen Accounts for 13- to 17-year-olds that parents can open and monitor.
The accounts come with a Venmo Teen Debit Card that has no fees for ATM withdrawals or monthly service charges.
Parents can see their teen's transactions, balance, and friends on Venmo and set privacy controls on the account.
Venmo hopes the new product will help teach teenagers financial literacy and responsibility.
The Venmo Teen Account will start rolling out in June 2023 to select users before a wider release in the coming weeks.