Under 16s: Closing the account
You can close your child’s Under 16s account in the Monzo app if you’re the parent or guardian who opened it. Once it’s closed it can’t be reopened, but you can open a new Under 16s account later while your child is still eligible.
Who can close the account?
Only the linked parent or guardian (not the child).
The parent or guardian owns the money in the account.
Eligible deposits are protected up to €100,000 under the Deposit Guarantee Scheme (DGS).
How to close the account
Open the Monzo app.
Go to Settings and choose Close account.
Select the Under 16s account you want to close.
Follow the steps to confirm.
What happens after?
The account closes the same day and your child’s card stops working.
Any remaining money is moved according to the option you chose (for example, into your own Monzo account).
If you’ve opened more than one Under 16s account for the same child, pick the one you want to keep and close the others using these steps.