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Prepaid bank cards for teenager

10 replies

Volluto · 29/08/2019 14:06

DD is 12 and I want to get her a bank card so she manages her money rather than asking me for money all the time.

Does anyone have experience of prepaid cards like GoHenry or Nimbl. I like the idea of being able to monitor or restrict spending

OP posts:
HopefulFor2020 · 29/08/2019 14:15

We love GoHenry (if you have a friend who has it there's usually a referral code so you both get £10). We had Nimbl too but I didn't like the app. Can't remember why now, I think it just didn't feel as user friendly

HopefulFor2020 · 29/08/2019 14:16

Yep, refer a friend and £10 each. Obviously more than happy to share my code with you if you're interested Grin

reluctantbrit · 29/08/2019 14:28

What is wrong with a normal bank account? DD has a nationwide one and I have a standing order of her monthly pocket money going into it.

She can’t overdraw but otherwise it works like any other debit card. They do offer a simpler card as well if you don’t want her to have contactless.

LoveGrowsWhere · 29/08/2019 14:33

Santander 123 do one where she can get a contactless card. No overdraft. You could just transfer in a weekly or monthly amount. She can monitor spend on phone. Apply online.

Cinammoncake · 29/08/2019 14:50

I'd get a normal bank account with a card. By the time they get to about 13/14 GoHenry is uncool and embarrassing.

I want to get her a bank card so she manages her money

I like the idea of being able to monitor or restrict spending

Two conflicting statements.

Bookworm4 · 29/08/2019 14:53

Why pay for these cards? My DD14 has a Nationwide account with online banking and a debit card. Just pop her locker money in weekly/monthly and let her get on with it, why do you need to monitor it? Left her get on with it and stop thinking she’s 5.

Volluto · 29/08/2019 17:02

Some appallingly rude people have replied on this thread which reminds me why the real world is better.

There are reasons why she needs more support where I can discuss spending easily with her with clarity of the app and ability to shut down the card instantly if need be.

Thanks to those that commented on the prepaid card they use.

OP posts:
cwtchesandprosecco · 30/08/2019 08:54

If you’re worried about GoHenry not looking ‘cool’ enough, why not get a Monzo or a Revolut card? All my friend a are using Monzo for fun money at the moment and just having salary paid into and bill coming out of their normal account.

PurpleCrazyHorse · 30/08/2019 09:11

We use Go Henry with our 10yo (about to go into Y6). She doesn't have a regular bank account, just a savings one so it seemed a quick and easy solution to cashless pocket money. We will graduate to a proper bank account with a card when she's a little older and has practised with the Go Henry.

The cards can be customised with Go[any text you want there] instead of 'Henry', plus lots of designs to choose from. There's a £4.99 charge but you might find a design more appropriate for your DD. Obviously you can have the free basic design, which is what we have as DD doesn't really care, nor hangs out with friends who might see it.

As a parent I really like the app. I have currently ring fenced DD's birthday money that the grandparents have put on, I can then release it as needed. There can be charges for putting money on (50p I think) so if you expect lots of money to go on then this can quickly add up and worth finding out all the small print details. The first bank transfer a month is free so our monthly standing order for pocket money doesn't cost us anything extra.

I also like the ability to limit weekly/single spend/ATM spending. You can also decide if you want the card to be able to be used on the high street, online and/or ATMs. Plus block the card from the app.

DD also gives to charity regularly through the app. Only a tiny amount as she doesn't get much pocket money, but it's more the principle. She can also set up savings areas and it will automatically put money away each week to reach her goal.

All in all, we really like it. It's not perfect and does cost a monthly fee but it does give DD an adjustable safety net where she can practise financial skills.

BikeRunSki · 30/08/2019 09:19

DS is 11 next week and starting middle school (y6-y8), We’ve just got him a GoHenry. He gets his pocket money paid on to it, and really likes that I can set him tasks for more earnings! (We’ve has this in principle at home for years, but he's never been motivated by a list on the fridge ). I like that I can limit how much he spends at once and see where he’s spent it, and freeze the card if he’s lost it. It seems like a nice step from money box to bank account. I see us using this for 2 or 3 years, before getting a bank account when he goes to high school (y9, age 13).

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