Accounts for minors
Written by Kai
Updated over a week ago

Minor Accounts Structure

Yotta offers accounts for minors who are 13 to 17 years old when they are sponsored by a given adult. A given adult can sponsor one minor, as well as have their own separate Yotta account. Currently, minors are unable to connect a bank account and fund their account on their own without first having a sponsor.

Signing up

If a minor signs up, they can connect an external bank account to their Yotta account, but they won't be able to deposit or withdraw money until they get an adult who is at least 18 years old to sponsor their account.

Once the sponsor provides their information, the minor account will function the same as all other Yotta accounts.

The information required from the sponsor is the following:

  • First and last name

  • Email address (cannot be the same email used by the minor)

  • Date of birth

  • Social Security Number

  • Address

  • Phone number (cannot be the same number used by the minor)

The given adult enters this information on the home screen of the minor's Yotta app.

Note: The sponsor does not have to be a legal guardian or a family member. The person just has to be at least 18 years old.

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