GoHenry
GoHenry is a UK-founded youth prepaid debit card and financial education app for ages 6-18, now available in the US and Europe. It offers parents granular control over spending limits, card freezes, a…
💬 Verdict
GoHenry is an excellent choice for parents who want to actively teach kids about money through hands-on controls and structured lessons. It's ideal for families with one or two kids, given the per-child fees. If you have three or more children or need a more robust bank-like account with direct deposit, consider alternatives like Greenlight (which offers investing features) or a joint bank account at a traditional institution. Bottom line: GoHenry delivers on its promise of education and control, but the cost may outweigh the benefits for larger families or those seeking banking features.
GoHenry
Plans start at $7.6/month
📊 Pros & Cons
Pros
- 👍 Very strong parental controls: instant card freeze, custom spending limits, ATM restrictions, and merchant category blocks.
- 👍 Built-in financial education with bite-sized lessons, quizzes, and 'Money Missions' that actually reward kids for learning.
- 👍 Chores and allowance features are well-integrated—parents can assign tasks, approve them, and pay automatically.
- 👍 Real-time transaction notifications for parents and children, helping teach accountability and spending awareness.
- 👍 Available in both the US and UK, with regulated partner banks offering FDIC/FSCS protection.
Cons
- 👎 Monthly subscription fee per child adds up fast—a family with three kids pays nearly $18/month in the US or £9/month in the UK.
- 👎 No true bank account features: no credit building, no interest on balances, and no direct debit/checking capabilities.
- 👎 The card is prepaid only; if the balance is low, the card declines, which can frustrate teens who expect a more 'real' bank card.
- 👎 Customer support can be slow and sometimes unhelpful, based on many user reviews.
- 👎 Not suitable for children outside the 6-18 age range; there is no parent-linked account to move savings into once the child ages out.
🎯 Use Cases
GoHenry combines a prepaid card, chores-based earnings, and structured financial literacy lessons, making it a complete tool for hands-on money education.
Parents can automate allowance, assign paid chores, and track task completion—all from one app, eliminating the need for cash or spreadsheets.
Real-time alerts, spending controls, and the ability to freeze the card give parents confidence while teens learn to spend and save independently.
The physical card is a kid-friendly, contactless prepaid debit card, ideal as a first banking-style product without the risks of an overdraft or credit card.
Kids can set savings goals within the app, and parents can encourage contributions, but note that GoHenry does not offer interest-bearing savings accounts.
🔍 Deep Dive
The monthly subscription per child is the main cost, but additional fees can apply: card replacement (around $3.50/£3.99), and overseas transactions may incur foreign exchange fees. No overdraft or interest fees exist because it's a prepaid card.
Minimal — the setup is straightforward for both parents and kids; most users can start using the card and app within 10 minutes of activation.
Parents looking for a free or low-cost money management tool, or those who only need a simple minor savings account with no subscription, should skip GoHenry.
❓ Frequently Asked Questions
How much does GoHenry cost?
GoHenry is a subscription service: it costs $5.99/month per child in the US and £2.99/month per child in the UK after a 30-day free trial. The fee is per child, so families with multiple kids pay multiple monthly fees.
What age is GoHenry for?
GoHenry is designed for kids and teens aged 6 to 18. The card is a prepaid debit card, and the app includes financial education lessons appropriate for that age range.
Is GoHenry safe and is my money protected?
GoHenry is not a bank, but funds are held with regulated partner banks. In the US, card balances are FDIC-insured up to $250,000; in the UK, funds are FSCS-protected up to £85,000. Parental controls also add a layer of safety.
Can parents really control where and how the card is used?
Yes. Parents can switch the card on/off instantly, set spending limits, choose ATM withdrawal limits, and block certain merchant types or stores. They also get real-time notifications whenever the card is used.
Does GoHenry teach kids about money?
Yes, GoHenry includes in-app financial literacy lessons, quizzes, and interactive challenges covering topics like earning, saving, budgeting, and investing. The app's 'Money Missions' are designed to make learning about money fun.
How does the chores and allowance feature work?
Parents can create a list of chores with assigned monetary values, approve them when completed, and automatically transfer the earnings to the child's GoHenry account. They can also set up a regular automatic allowance on a weekly or monthly basis.
Does GoHenry work with an existing bank account?
Parents connect their own bank account or debit card to fund their child's GoHenry account. They can reload money instantly or set up auto top-ups. The child gets their own prepaid GoHenry card, not a linked card under the parent's account.
