AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Usually not on their own. The UK transfer services whose pages state an age, such as LemFi and Monzo's naira payments, require senders to be 18 or over, even where a 16-year-old can hold a bank account. The safe route is for a parent or guardian to send from their own verified account, with the young person giving them the money openly.
What providers say about age
Age rules sit in each provider's terms, and not every page states one. What we found on providers' own pages (checked October 2026):
| Service | Age stated |
|---|---|
| LemFi | Must be 18 or older to sign up |
| Monzo account | 16 or over to open a personal account |
| Monzo naira (NGN) payments | 18 or over to send international payments |
| Barclays bank account | Sole account holders 18+ (not in full-time education) |
| Wise | Its ID page states no age; check its terms or the sign-up screen |
So a 16 or 17-year-old with a Monzo account can spend and receive money in the UK but cannot use Monzo to pay a Nigerian bank account. The same pattern is common across the market: a youth account exists, but international transfers are reserved for adults.
Why the age limit exists
A money transfer is a contract with a regulated firm, and under-18s generally have limited capacity to enter binding contracts. Firms also carry anti-money laundering duties under the Money Laundering Regulations 2017, and young people are a known target for criminals who recruit money mules. The FCA reported in September 2026 that 35 firms closed 238,396 suspected mule accounts in 2025, and its age breakdown showed 85,425 suspected mule accounts held by people aged 25 and under. Age limits are one way firms reduce that risk.
What a parent or guardian can do
- The parent sends from their own verified account, in their own name, to the recipient in Nigeria.
- The young person gives the parent the money openly, for example by bank transfer from their own account with a clear reference such as "for Grandma, Lagos".
- The parent keeps the receipt and shows it to the young person, so both know it arrived.
- If the amount is large or unusual, the parent should be ready to explain to their provider where the money came from, including that part of it came from their child.
This keeps everything in the parent's name, which is how the provider expects it. It also means the parent is answerable for the transfer, so it should be money they are comfortable sending.
What not to do
- Do not sign up with an adult's ID, or lie about date of birth. Accounts opened that way can be closed and money held while checks are done.
- Do not let a friend over 18 send money for you through their account in exchange for a fee. That is how mule recruitment often starts.
- Do not accept money from strangers online to "pass on" to Nigeria, however small. The FCA calls money muling a crime and warns of losing bank accounts and possible prosecution.
- Do not take cash to an agent and give someone else's details as sender.
Agent shops, cards and other workarounds
Some teenagers try a high-street agent instead of an app. Agents act for a principal such as Western Union and must follow that firm's rules; Western Union's UK page says senders must show valid ID for any amount at an agent. Its page does not state an age, so an agent may refuse an under-18 or ask for an adult. Either way, the transfer is recorded in the sender's name, which should be the person whose money it is.
Paying with a parent's debit card inside your own app account is not a fix either. Providers generally expect the card to be in the account holder's name, and a mismatch can freeze the account. The same applies the other way round: a parent should not log a child into the parent's app to press send.
Receiving money is different
A 16 or 17-year-old can usually receive money into their own UK account, for example a gift from an aunt in Lagos, because receiving does not require them to enter an international payment contract. If a relative in Nigeria wants to send money to a teenager in the UK, the teenager's own account details are normally fine; check the account accepts international payments.
Where the money comes from
Many 16 and 17-year-olds have part-time jobs. From April 2026 the National Minimum Wage for under-18s is £8 an hour, according to GOV.UK. Example only: 8 hours a week at £8 is £64 a week, and setting aside £20 a week gives £80 over four weeks to hand to a parent to send. Keep payslips or bank statements; if the parent's provider asks about a larger sum, they show where it came from.
Turning 18
Once 18, a young person can sign up to a transfer app in their own name with a passport or driving licence. A UK provisional licence is accepted by some providers; see using a provisional licence as ID. Start with small transfers to build a normal pattern, and read our guide to money mule warnings before agreeing to send for anyone else. For students, see sending to students.
Where Pryme fits
Pryme accounts are for adults, so a parent would open one and send on the young person's behalf; the app shows the rate and the fee before the parent approves. Once 18, the young person can open their own account from the UK; see opening an account.
Questions people ask
Can I send money to Nigeria at 16 in the UK?
Not usually on your own. Providers whose pages state an age, such as LemFi and Monzo's international payments, require you to be 18.
Can my mum send money to Nigeria for me?
Yes. She sends from her own account in her own name, and you give her the money openly with a clear reference.
Can I use Monzo at 17 to send naira?
Monzo opens accounts from 16, but its naira payments page says you must be 18 or over to send internationally.
Is it illegal to send money for someone else as a teenager?
Passing on other people's money can be money laundering. The FCA warns that money muling is a crime that can lead to account closure and prosecution.
Sources
- LemFi Help: How do I sign up · accessed Oct 2026
- Monzo Help: Sending NGN payments · accessed Oct 2026
- Monzo Help: How to open a Monzo Personal Account · accessed Oct 2026
- FCA press release: firms crack down on money mules but need to do more (23 Sep 2026) · accessed Oct 2026
- GOV.UK: National Minimum Wage and National Living Wage rates · accessed Oct 2026
- legislation.gov.uk: Money Laundering Regulations 2017, regulation 28 (customer due diligence) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.