At Cash App, platform trust is our top priority especially for those most vulnerable. We give sponsored people (ages 13-17) on Cash App additional layers of protection by giving their sponsors visibility to their sponsored account’s activity and app usage controls.

These controls let sponsors:

• Track a sponsored account’s activity from their app in real-time or by monthly statements

• View their sponsored account’s Cash, Savings, Bitcoin, and Stock balances 

• Block and report any inappropriate profiles on behalf of their sponsored person

• Turn on/off their sponsored account’s Cash App Card

• Receive real-time notifications including notice of the payment between their sponsored account and a new contact

• Turn on/off their sponsored account’s Investing (stocks) and/or bitcoin access and set buy limits

• Turn on/off their sponsored account’s ability to send and receive money

When anyone 13-17 is ready to start using Cash App, it’s best to discuss expectations of the app’s use. There are some important items to discuss before creating a sponsored account:

• Money Management 

  • Overspending 

    • Quick-click purchasing and targeted social media ads create an environment that promotes impulse buying.

  • Distorted View of Money Management 

    • The pursuit of online financial gains can obscure the realities of sound financial planning and responsible money management.

  • Financial Stress and Anxiety

    • When combined with the fear of missing out, online shopping pressure can intensify financial worries and anxiety.

• The Risk of Financial Scams and Fraud

  • Phishing

    • Scammers can impersonate legitimate companies or individuals to steal login credentials or money.

  • Identity Theft

    • Scammers can steal personal information to open fraudulent accounts and potentially impact credit scores. 

  • Financial scams and fraud are deceptive practices where scammers attempt to steal money or sensitive information from those most vulnerable, like minors. 

• The Risks of Financial Exploitation

  • In instances of financially-motivated exploitation, an offender might coerce (or trick) a minor into sharing sensitive images, and then leverage those for the minor to provide money or gift cards.

• Cybersecurity Education

  • Minors should learn how to protect themselves online, including recognizing phishing attempts and avoiding scams. 

  • There are many resources online such as Thorn, the National Cybersecurity Alliance, SchoolSafety.gov, and many more.

When educated on money management, financial literacy empowers sponsored person(s) to make informed decisions and achieve their long-term financial goals.