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About gohenry
gohenry is a financial tool for children aged from 6 to 18 (and for their parents). It consists of:
- A parent account. Parents can access it through an app, use it to top up the child’s account and to apply parental control on children’s spending habits.
- A child account. Children can see their balance and the spending limits you’ve established for them in the app.
- A Visa prepaid card. The card can be used by children to make purchases in shops and online and withdraw cash from ATMs.
gohenry was founded in 2012, “by a group of parents who wanted to help young people learn about money safely”. gohenry has been featured on our best debit cards for kids page.
Pros and cons of gohenry
Pros
- Full parental control thanks to instant notifications and spending limits
- One-month free trial
- It can be used by children as young as six
- Reward system for completed tasks
- Children learn about personal finance in a controlled environment
- Relatives can also send money to the children
- You can manage up to four child accounts from the same parent account
Cons
- Monthly fee that’s higher than some
- Only one free top-up to the child account a month
- Safe, but not as safe and regulated as a bank
- You cannot load cash onto the account
- It doesn’t pay any interest
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