Learning about money and how to properly handle it is an important life skill. Learning about money by providing youngsters with real experience with how it works may go a long way toward strengthening their independence and confidence, much like learning to read or ride a bike. According to research, it is beneficial to begin learning about money at a young age; children’s views and habits are formed as early as the age of seven, and their parents play the most important role in developing these attitudes and habits. Get Started Today. Order your Card In Minutes
What is GoHenry?
GoHenry is a prepaid Visa card with an accompanying app that functions similarly to a debit card. You may shop in-store, shop online, and use an ATM to get cash. However, because it’s a pre-paid card, your youngster won’t be able to go on a spending binge and wind up in debt. They are limited to spending only what is available in the account. They were founded in 2012 and currently has over 500,000 members in the United Kingdom and the United States. GoHenry’s parent firm (GoHenry Limited) is situated in Hampshire and has been in operation since 2007. Get The Debit Card & App That Helps Kids Learn About Money
How does it work?
It only takes a few minutes to create an account on the internet. Next place an order for a free (prepaid) debit card with your child’s name. Customers may even spend £4.99 for a completely customized card if you’re feeling generous. Within 7 days, this should come (addressed to their child).
After that, customers should get the GoHenry app. Customers may use this page to keep track of their child’s activities and add money to their accounts. If they have more than one child with a card, they may access all of their accounts from one app. They can check account activity from the main website, but the app is easier and more comfortable.
The customer must then fund their account (sometimes known as their parent’s account) with funds. Unfortunately, users cannot load their child’s card straight from their bank account.
The user may then set up a weekly transfer of a specific amount from the parent’s account to their child’s account. However, users are not limited to that one set transfer. If parents are feeling generous or want to reward their child, they can also make one-time contributions.
Features
- Visa prepaid debit card with customisation – A prepaid card that may be topped up and used in stores. On the internet or at a cash machine. Your youngster may personalize it by adding a name and an image.
- Online or mobile app – GoHenry may be managed from a computer, an iPad, or a smartphone.
- Set up regular payments – Set up frequent payments for pocket money.
- Set tasks/chores – Give your kid jobs to accomplish, which they can mark as complete when they’re done.
- Instant notifications – Get instant spending notifications for both you and your child.
- Choose where the card can be used – Maintain control over your child’s spending habits.
- Set savings goals on the app and keep track of your child’s progress.
Benefits
- Children are taught about money.
- Option for a personalized card
- Provides children with financial freedom
- Allows folks to track and control their expenditures.
- The card can be blocked at any moment.
- Can direct where the card is utilized to accelerate
- FCA governed
Cost
The main costs of a GoHenry card to be aware of are:
- £4.99 if you want to get a customised card with your child’s favourite picture and name
- £2.50 per month membership fee for as long as the card is active
- 50p a time to add money onto the card (unless you set up a regular monthly transfer from your bank)
Final Verdict
There are surely less expensive alternatives to GoHenry. Other similar services are available for a lower monthly fee than what is given here. If you want to offer your child weekly pocket money, limiting parents to one free transaction per month may be an issue. Free cash withdrawals, on the other hand, are not granted by many other comparable accounts and are a significant bonus.
GoHenry makes a point of offering comprehensive parental control. It’s excellent for parents, especially those with children as young as six, to be able to control their children’s spending. GoHenry may not be the greatest solution for older children. For someone in their late teens, the service is likely to be excessively limited. Overall, GoHenry is a great service for parents who want to teach their children about money or simply want a more effective way to distribute pocket money. Visit Official GoHenry Website Here