Digital account launched for minors by Mercado Pago

Digital accounts have lately launched the possibility for minors to acquire an account and a card to encourage them to take care of their money. Mercado Pago recently launched a digital account that includes an audience between the ages of 13 and 17, completely free of charge and with no maintenance fees. Among other benefits, the account has a higher return than savings and has 100% CDI.

Read more: Mercado Pago Card – How to do it, Limit, Annuity, Benefits, 2nd Copy

Does the digital account offer a card for people under 18?

Naturally, only teenagers over 18 years of age or released can have a postpaid credit card, a credit card that accrues charges on the bill and allows payment in installments.

However, some digital banks have released the possibility for minors under 18 to keep prepaid credit cards. Therefore, the customer can use the credit function, but it will depend on the account balance, as the debit is made at the time of purchase.

Mercado Pago offers accounts for people under 18

Open your account now

To open a digital account for a minor on Mercado Pago, a minor needs the authorization of an adult, who can be a mother, father or legal guardian. So, just follow the steps below:

• Download the application or visit the Mercado Pago website;
• Click on “Create your account”
• Then press “Continue”;
• Then validate your data by filling in that you are a minor and fill in the responsible person's email.

After completing the opening process, the request will be maintained until the person in charge, who will be notified via email, authorizes the creation of the digital account. After that, the person in charge should follow the step by step:

• Validate the personal data to allow the creation of the account, but if you do not agree, click on “do not authorize”.
• Inform about your relationship with the minor, as only legally responsible adults can authorize the creation of an account for the teenager.
• The response will be sent to the teen's email address. If the result is positive, it remains only to enter your phone number into the system.

Other banks that accept minors under 18 as customers

When they reach the age of 18, minors can open accounts at most banks. However, some of them do not impose this requirement, allowing children and adolescents authorized by their guardians to start their banking relationship.

Among them, the main ones are:

• Banco Inter;
• Bradesco;
• C6 Bank, Next;
• Bank of Brazil;
• Federal Savings Bank (Blue savings modality).