Free prepaid card & money app
- Get a free prepaid card
- Organise your money
- Share Jars with your friends and family
HyperJar is a new budgeting app designed to make it easier to plan, share and spend your money. It’s free to download and offers a range of tools to help you to manage your everyday spending and your savings. There is also a kid’s version of the app that we have reviewed here.
In this review we look at what it is, how it works and how to sign up for an account.Free prepaid card & money app
HyperJar has quite a few features going on, which includes the ability to create Shared Jars with your family and friends and “lock in” money to spend at certain retailers ahead of doing your shop with them.
The account also comes with an accompanying Mastercard, plus there will eventually be a linked payment card available for children.
HyperJar is free to download and use, with no monthly or annual fees. Here are its main features:
HyperJar offers what it calls “jam-jar budgeting”, where you have lots of little money pots on the go, some assigned to pay regular bills like your food shop or petrol and others earmarked for saving towards a specific goal like a holiday.
You’ll first need to transfer money from your main bank into your HyperJar account. You only need to enter your bank details once, and the transfer should happen almost instantly.
To create a Jar you simply tap the plus sign on the home screen, give it a name, set a target and choose the colour. Once you’ve created the Jar, you can add money to it from your wallet.
You can spend the money from a particular Jar by linking it to your card. To do this just long-press that Jar and then choose Link, and that will be where your money comes from.
You’ll need to be aged 18 or over and a UK resident in order to open a HyperJar account.
HyperJar only entered the market in 2019 and hasn’t actually fully launched, but you can still sign up to open and use a HyperJar account, in what the provider is calling its “private launch”.
You need to start by downloading the mobile app from the App Store or Google Play Store.
HyperJar doesn’t carry out any credit checks, but you will have to go through a sign-up process involving a basic ID check on you and your address. It will then open your account and issue your Mastercard, which normally takes about a week to arrive through the post.
You’ll need to transfer money from your main bank account into your HyperJar account in order to start creating Jars and depositing money into them.
Pros
Cons
There’s quite a few budgeting apps out there now, but HyperJar is bringing something new to the table with its ability to “lock in” money to spend at certain retailers and earn an Annual Growth Rate on it before you do. The Shared Jars is also a nice touch – if you can get all your friends on board with it.
The fact the app is free to use is also a bonus, but it might take users a while to get used to managing all the different Jars, as well making sure they have enough to spend in whichever Jar they choose to make a purchase from with their payment card.
Get started by visiting HyperJar’s website and download the app. If you have read this review and the app is not for you, you can also discover more budgeting apps.
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