How to monitor your children’s Mercado Pago account: the five keys to control

The digital application which works like a bank account, Payment Marketopens the possibility of power monitor the financial movements of minors. This is intended to make it possible exercise greater control on these, avoiding serious problems.

The decision is based on a report that reveals that 67% of young people between 13 and 17 years old have access to a digital account to start taking your first steps in money management. Among their main attributes, adolescents highlight the practicality, safety and that is a very useful tool to learn to control expenses.

However, this generates concerns in parents and supervisorsalthough they highlight the peace of mind of knowing that they can send them money at any time.

But that changed since the application offers parental control features for the guardians of the more than two million young people who use the digital account. Among other tasks allows you to monitor consumption in real time of adolescents and also configure alerts for expenses or amounts and pause the account.

How to use the parental control tool

These features are now enabled for all teen account guardians. In the home of your application, you will find the section available “Parental Control” that allows you to monitor the use they make of your account:

1. View the balance in real time of the minor’s account and their expenses: You will be able to monitor the total and invested money, access the consumption they have made with a detailed view by category, business, amount and date.

2. cset up alerts: By activating this option, you receive notifications for each expense made. You also have the possibility of choosing to receive them when it exceeds a specific amount, for example, for purchases over $3 thousand.

3. Account pause: Do you prefer that you can only use your account at specific times? The Mercado Pago application allows you to automatically pause the minor’s account, preventing them from using it until you reactivate it.

4. Monthly summary: You automatically receive every month by email all the information about the transactions made by your child.

5. Direct money recharge: In simple steps and with the payment method of your preference you can send money whenever you need.

How to open a +13 account in Mercado Pago?

To open an account, minor users must download the application to your cell phonehave a valid ID, and inform the email of the father, mother or guardian, who must be a Mercado Pago user, prove their identity and authorize the opening of the account.