Mega-U account operation when parents not members! - how

The Mega-U Youth Account seems to good to be true?

It appears it is... One of the draw points is that the parent does not need to be an absa client in order to let their child have an account. On top of that there are loads of benefits to the MEGA-U account holder.

However - The major draw back - as I can tell - is that even though the parent(s) do not have to be an abs account holder, the Child cant do much or make use of much without the parents consent - which is only able to be given from within the Parents Account properties page?

So in essence the parent DOES need to have an account with absa and it appears be subscribed to internet banking for the child to be able to do anything? Am I getting that right? Or some misinformation?