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In this GoHenry review we take a closer look at the features on offer with this UK money app for kids to see if it’s worth it.

Many people today feel that we should be doing more as a society to teach kids about money. Financial education is still not given as much attention as other subjects taught in schools. This leaves parents looking for other ways that they can financially educate their children. Some try and do it completely by themselves, whereas others look to utilise pocket money apps like GoHenry.

Who Are GoHenry? 

GoHenry started life in the UK almost a decade ago and have been expanding rapidly ever since. In 2020 GoHenry raised $40m in new funding to further expand into the US and UK. GoHenry currently have over 2 million members.

GoHenry’s goal is to help parents to improve their child’s financial literacy. They do this by means of the GoHenry App which includes financial tools, videos and quizzes. These cover money basics such as investing, saving, interest, borrowing, gifting and much more. GoHenry label these activities as Money Missions. These missions can be beneficial for children who are these days forming financial habits at a much younger age. A recent survey also found that many children want to have these kind of fun features.

What Do GoHenry Offer?

The company offer a range of features which may be attractive to parents. These include…

• A GoHenry personalised prepaid Visa debit card – No debt or overdraft  
• Pocket money on repeat via automatic bank transfer
• Set chores via the app and pay your kids once completed
• Set savings goals which parents and kids can track together
• Instant money transfers for when they need money fast
• Real-time app notifications when your child makes a purchase
• Ability to Block or Unblock a card via the GoHenry app if lost or stolen
• Control how much and where your kids can spend their money
• Pay wages into a GoHenry account for kids with jobs
• Kids can easily send and receive payments
• The option to give to a charity via the app
• Receive money gifts from friends or relatives with personalised messages
• Compatible with Apple Pay
• £20 free for you and a buddy when you refer a friend
• Fingerprint and Facial Recognition
• Chip and Pin enabled
• Find your pin in the app if you forget it

Money Missions

Money Missions were introduced by GoHenry to close the financial literacy gap between young and old. These interactive lessons are designed to build financial confidence in 6-18 year olds.

There are animated videos, quizzes and points / badges to be won. All of this whilst gaining real world experience in money matters. These games have been developed in collaboration with teachers and financial experts and are age appropriate. There are different levels to unlock, ensuring your children continue to develop at a natural pace. All Money Missions are included with the subscription fee.

Who Is GoHenry For?

GoHenry has been created for children aged 6-18 and parents can have up to 4 children on each account. If you need to add more than four children you will need to set up another GoHenry account using a different email address.

GoHenry Fees

GoHenry Charge a fee of £3.99 per child per month on a subscription basis. This fee includes a kid’s prepaid debit card and all of the Money Mission features we’ve mentioned in this GoHenry Review. UK transactions and ATM withdrawals are free with GoHenry.

GoHenry Reviews

Now we come to the part of our GoHenry app review where we look at what others have to say about them.

The Trustpilot GoHenry reviews are good too. GoHenry’s overall TrustPilot rating is ‘Great’ scoring 4.2 out of 5 stars at the time of writing. This is based on 7,044 reviews. 

68% of reviewers gave GoHenry an Excellent rating and 11% said it was great. 12% gave them a bad rating. What was the cause of a lot of these GoHenry bad reviews? Most of these came about because the customer either failed to realise that this was a paid account or didn’t understand how the topup process worked.

Some reviews even seemed to leave one star reviews by accident even when they apparently liked the service.

Many people compared GoHenry with a standard bank account for children. Really, though, GoHenry offer something very different and are more of a financial education app for children with the feature of a debit card and account included. This is why they charge a monthly fee, for the extra features the app provides. If you don’t require any of these extra features then it may well just be cheaper for you to go and open a standard child’s high street bank account – if there’s not a lower age limit to prevent this.

GoHenry Review Summary

What do we think of GoHenry given everything we’ve discussed in this GoHenry review post? 

My natural inclination with apps like GoHenry is to dismiss them as I don’t like having to pay for things (financial education) I feel I can give to my kids for free. However, with GoHenry I actually quite like the idea and I can see why they’ve amassed over 1.5 million customers.

I have two kids of my own and the eldest has just got his first bank account. He is pretty astute and takes to the technology side of things quickly, but he seems to like spending his money a soon as he gets it. He also doesn’t always like to listen to his dad when he’s lecturing him about what he should and shouldn’t spend his money on. So I do think the ability for both of us to be working together via an app to help him grasp the benefits of saving money would be nice. For my other boy I know he’d really enjoy the fun element of the ‘Money Missions’.

I also think they’d really love the personalised card designs with their own name on too.

We hope you’ve found this GoHenry Review useful. 

This blog does not constitute financial advice. If you’re unsure, seek independent financial advice.