N26 has launched a debit card for children under the age of 18 which is linked to their parent’s banking app.

The Berlin-based digital bank said the move empowers young people to learn financial independence and money management skills.

N26 said parents can stay in full control through the bank’s app where they can manage spending limits, card settings, and see all account activity.

N26 for under 18s operates as a dedicated space with its own IBAN within the parent’s existing N26 account.

The child receives a Mastercard debit card issued under their name, with full parental oversight and control in real time.

The features in the app allow parents to top up funds, customise spending limits, freeze or unfreeze the card in and receive notifications in real time.

N26 said the account has no overdraft capability to ensure that spending is strictly restricted to the balance provided by the parent.

The bank added the launch marks the company’s efforts to build a financial service for families which allows them to manage their finances together.

N26 for under 18s is specifically built to address the needs of parents in managing the family's finances and actively involve their children in everyday financial decisions, which the company said will promote responsible spending and saving habits from an early age.

The company added that the service allows parents to view their child’s spending alongside their own, while allowing parents to guide their child's first steps in money management in an increasingly cashless world.

By introducing children to digital banking and structured money management early on, N26 said the new service enables families to build financial understanding that can evolve over time into saving, investing, and long-term wealth accumulation.

To make the experience personalised, N26 said kids and teens can choose from seven card designs.

Marcus W. Mosen, co-chief executive of N26 said that digital payments are now an integral part of daily life, even in traditionally cash-focused markets such as Germany where almost two thirds of retail purchases are now cashless.

“With N26 for under 18s, parents can empower children in an increasingly cashless world, helping them build modern money management skills early on,” he added. “Young people under 18 account for 18 percent of the EU population, and the demand for age-appropriate and secure solutions across markets is significant.”

N26 for under 18s will be rolled out to all eligible customers in Germany and Austria with an active personal or business N26 account, across all membership tiers.

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