These GoHenry reviews are based on our experience of the GoHenry card and app, which we’ve been using for several months. Although we’ve not been paid for our GoHenry Reviews, we have received two cards for free and if you use the links on this site to sign up then we will receive a commission. Read more about affiliate links here.
If after reading our GoHenry reviews you fancy giving it a whirl, then sign up your child for a GoHenry account using this link to get a month’s free use of GoHenry so you can try out the card and the app. You’ll also be rewarded with £10 of credit – for free! Be sure that you cancel in time, if you decide that you don’t want to carry on using the card and paying the £2.99 monthly subscription.
Teaching kids about spending and saving money is something that’s so important, and yet as parents we can leave it really late. My kids have savings accounts set up for them, but day-to-day they weren’t in charge of their own money which means every time they wanted sweets or a magazine, or something from a gift shop, they had to nag and bed for it. At ages 9 and 7, I thought maybe it was time to introduce some regular pocket money, in exchange for a few small weekly chores, like keeping their bedrooms tidy.
A mum can dream, right?
How GoHenry works
GoHenry is app-based so firstly you need to download the app onto your iPhone or Android smartphone.
Your child can pick the design of their bank card from a number of options. The card will arrive through the post, and you’ll be supplied with a pin number in the app.
You pre-load the card with cash by making a payment into your ‘parent account’ and then transferring this to your child/ren. Your child/ren can can use their card to pay where there is a chip and pin machine, or online, just like a real debit card – however it’s not contactless and, obviously, they cannot spend more than their current balance.
GoHenry: The parent’s perspective
The GoHenry App
The GoHenry App is what makes GoHenry different from other kids’ bank accounts. It is really easy to set up, and intuitive to use.
Parents can use the app to add pocket money to their kid’s GoHenry account regularly, can transfer a sum as a one off, or as a reward for a specific task such as tidying their bedroom or mowing the lawn. Friends and family can be given a link which pays directly into to their GoHenry account, for example if they want to gift money for Christmas or birthdays, and it can go straight on to their card so it won’t get mislaid.
If kids have their own devices, they can download the app and keep an eye on their own balance and spending, which is great for slightly older children. If you use the ‘money missions’ which encourage kids to work for their money, it helps if they do have their own devices so they can see their progress. They can also use the app to learn all about money, bank cards, spending and saving.
Are there any downsides to GoHenry?
The main downside to GoHenry is the price. Cards cost £2.99 each per month which includes access to the app, which seems fairly reasonable if you have one child. However there is no family discount available so if you have more than one child it can be a pricey way to help them manage their money. Particularly as a single parent, there is no way I would be able to justify this extra expense each month which is a shame, as it is a great idea.
There are also costs for topping up your parent account – one free per month and then 50p per additional payment. This to be honest seems absolutely outrageous. They have your money which they’re no doubt investing like any other bank so why the charges are so high, I can’t fathom. Once again, a huge shame as I am sure this will put a lot of people off when there are free alternatives out there – the apps may not be as good, but in my personal circumstances, the cost is my priority.
Also, the account does not accrue interest like a normal savings account would, so if you’re using the account for savings as opposed to instant access then it’s worth getting a separate savings account.
If you fancy trialling a card, you can sign up to GoHenry here and you’ll get the first month for free, plus £10 credit for your child’s GoHenry account!
GoHenry reviews from the kids
And what did the kids think of their GoHenry cards?
My nine year old says:
I think it’s nice for children to be have their own debit cards so they can experience what it’s going to be like when they’re adults and be able to spend their money on what they like.
(Insert adult laughter here)
My seven year old wrote this bit himself, confusingly in the third person:
My seven year old likes his card, he has earned pocket money for keeping his room tidy (but not every week!) and spent it on sweets, Pokémon cards, collectible Superthings and things from Ebay which he can order himself without needing to use my credit card. He likes using the chip and pin in shops and always knows how much money he has.
On the other hand my 9 year old daughter forgets her PIN number every time we go to the co-op. She spend it on thing’s like collectible toys such as Recycling’s and food like sweets. She isn’t savouring it unlike my son who spends it very rarely. As you can see they are the opposite when spending money. Well to be fair they’re the opposite at everything.
(I’d like it to be known that he does not, in fact, savour his money).
All in all though, they have had a really positive experience with their own GoHenry cards and our reviews are good. They love being able to buy things by themselves and have overcome their shyness about approaching the tills. They’ve started paying a lot more attention to how much things cost – the days of begging for £6 magazines with ten tonnes of tat on the front are over and done with now they realise how much else they could buy with that money – and they can even be persuaded (or ‘bribed’) to keep their bedrooms tidy occasionally.
We will definitely keep using our GoHenry cards.
They give the kids more freedom to buy what they like, I don’t get nagged for sweets and magazines since they have their own cash to spend – and they occasionally buy me surprise gifts too!
Get £10 free credit and a month of GoHenry for free!
If after reading our GoHenry reviews you fancy giving it a whirl, then sign up your child for a GoHenry account using this link to get a month’s free use of GoHenry so you can try out the card and the app.
You’ll also be rewarded with £10 of credit – for free! Just make sure that to avoid charges you cancel in time, if you don’t want to carry on using the card and paying the £2.99 monthly subscription.