gohenry vs Osper: Fees, features and more
While the two are very similar overall, the few differences between gohenry and Osper can help you figure out which is best for your kids.
Looking for a prepaid card to teach your kids about money and banking? Osper and gohenry look very similar, so if you are confused about which you should get, we feel you.
However, there are a few notable differences. In this article, we consider them and try to point you in the right direction (spoiler: as for most financial products, it depends on how you use them!).
gohenry vs Opser
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What are gohenry and Osper for?
You might already know this, in which case you can skip to the next session. But for those of you that don’t, Osper and gohenry both offer prepaid cards for children.
Prepaid cards are different from the usual children’s current accounts (which are available at most traditional banks). They aren’t full bank accounts and they are usually controlled by the child’s parent or guardian through an app.
The app usually allows an adult to keep track of the card’s spending as well as manage a series of parental control features. They are more about teaching your kids about personal finance and banking and giving them less independence.
In return for their sophisticated parental control features, most children’s prepaid cards charge some kind of fees (children’s current account are usually free instead).
gohenry vs Osper: key differences
Osper and gohenry serve the same function, and they also have a lot of similar features. Parents can set spending limits, block online spending if they wish to and receive real-time notifications; children can make purchases, learn budgeting and save towards a goal. With both, you can quickly block the card from the app if it gets lost or stolen.
But as usual, the devil is in the details. Here’s where they differ:
- Fees. gohenry charges a slightly higher monthly fee (£2.99) compared to Osper (£2.50). For gohenry, this includes one free top-up a month; for Osper, regular monthly or weekly top-ups by direct debit are included but you are charged for additional top-ups.
- Payments abroad. Unlike Osper, gohenry does not charge fees for making payments or withdrawing cash abroad.
- Reward your kids for completing a task. That’s a pretty cool gohenry feature that Osper does not offer. You can set a list of chores that your kids need to complete, and unlock a monetary reward when they do.
- Personalised card. For £4.99, gohenry will let you personalise your kid’s card. You can have “gojack” or “gojane” instead of the gohenry logo, for example, and choose a picture or pattern too.
- KidStart. This is something Osper has on gohenry. You can link your Osper account to your KidStart account. KidStart is a service that lets you earn cash rewards when you shop at selected retailers; you can have the rewards moved to the Osper app directly. In practice, this will allow you to save on your kids’ pocket money.
- Minimum age. With gohenry, you can start earlier, as it’s for kids aged 6 to 18. The minimum age for an Osper card is eight.
It’s a tough match. gohenry and Osper work pretty much the same way, with a parent account and app that manage a child’s prepaid card and app, allowing for advanced parental control features and working as a conversation starter to teach about money and savings habits.
The best way to decide between the two is to skim through the list of differences above and think about how much they matter to you.
gohenry: best for range of features and abroad spending
If your child is six or seven, you can’t get Osper, but you can start with gohenry. Similarly, if your family often travels abroad, or if your kids have a trip planned outside the UK, gohenry is a better option because Osper’s foreign transaction fees are quite expensive.
In terms of feature, the two are very close, but gohenry might be slightly superior. We are personally big fans of the ability to reward your kids for, say, doing the dishes and cleaning their room, and there’s also a nice little option that lets them donate a little bit of their pocket money to a children’s charity.
Osper: best for price
Foreign transaction fees aside, Osper is a tiny bit cheaper. The monthly fee is lower and can include more than a single monthly top-up.
So you might think that gohenry’s extra features and lack of fees on abroad spending are not worth the difference.
Finally, it’s worth noting that both offer a free one-month trial, so you can always give it a go with one and then move to the other if you don’t like it.
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