Nordic digital bank Lunar is set to launch a new banking app designed specifically for children and teenagers.
The Lunar Youth app offers a parental-controlled account and customizable payment cards for users aged 7 to 14. Parents have the ability to set spending limits, track transactions, and gain insights into their children’s spending behavior. The account includes safeguards against cryptocurrencies, gambling, and inappropriate content, with all online purchases requiring parental consent.
Upcoming features will include options for categorizing expenses and enhanced budgeting tools.
Originally established as a digital bank focused on the needs of young adults, Lunar is now expanding its offerings to meet the evolving demands of its diverse customer base, which exceeds one million.
Ken Villum Klausen, CEO of Lunar, commented, “Having been established for nearly a decade, many of our early customers have grown alongside us, and now many are becoming parents. Lunar Youth isn’t just a product for kids; it reflects our commitment to being the preferred banking choice for our customers as they navigate different life stages—whether they are opening their first account as teenagers or guiding their own children in establishing financial habits.”