FSCS Protection on Under 16s accounts

As the main account holder, money in your Under 16s accounts legally belongs to you.

The money in your Under 16s accounts is therefore protected by your personal FSCS allowance of up to £120,000.

Money in all your Monzo accounts contributes to your allowance, including money in your Personal Current Account, Under 16s Accounts, Joint Current Account, Business Current Account (if you’re a sole trader), Regular Pots, and Instant Access Savings Pots.