GoHenry for 11 under

[Mycatcontrolsmymovements]

I have just signed up to this and think its great so far. Does anyone have feedback/experiences? My DS is under 11 so not eligible for a bank account/card

@sirfredfredgeorge

(sorry see others already recommended hyperjar)

3.49 a month, it's the price of a latte

Does this come out of the kids pocket money or your latte spend? 3.49 is quite a lot of discretionary spend to a seven year old.

My latte spend of course! I don't charge DC for fees I have chosen to pay. It's worth it to me versus the hours I had to spend queuing at the bank. If other people have found better options then good for you, but it was really helpful to me at a time when I had a DS who needed to pay bus fare, everywhere was discouraging cash and I couldn't get a bank account in place. No I don't work for them, lol.

We've got one but as soon as ds is 11 we'll be transferring him to a normal current account with our bank.
There might be other banks that offer debit cards to under 12s now but there wasn't when we signed up to GoHenry. And I can't be bothered doing all the research again, I'd rather pay the monthly fee and save myself the hassle

OK I must admit if Hyperjar hadn't came along I'd probably have very reluctantly bought into Gohenry or similar.

But it's still a lot of money esp for multiple kids.

We don't all throw money away on lattes.

Ooh, that's me told!

Of course some people are on a very tight budget and 3.49 a month is crucial. Totally get that. I'm saying it's worth it for me. Has saved me time and trouble. Plus I am dubious about the idea that no one here spends 3.49 on anything not absolutely essential to life and limb.

@Lockdownbear

OK I must admit if Hyperjar hadn't came along I'd probably have very reluctantly bought into Gohenry or similar.

But it's still a lot of money esp for multiple kids.

I don't know Hyperjar- how does it make money if it's free to use?

Think Nimble was the other one I looked at which had a lower fee than Go Henry.

I accept that the costs are higher the more kids you're doing it for.

We don't all throw money away on lattes.

Oh, I totally am throwing money away on lattes, I’d just rather have another latte and that’s why I’m fat. But it obviously work for some people, I’m just not their target market.

I don't know Hyperjar- how does it make money if it's free to use?

Same as regular bank accounts, transaction fees on spending the money - you don't pay money on your credit account do you? And you wouldn't expect your 11 year old to pay money for their own bank account, so why do you expect for a 10 year old?

HSBC’s My Money Account is better in my opinion as there are no fees.

We just gave them cash until 11 and then normal back card, have just opened account for youngest. We transfer money between accounts by standing order for pocket money and banking app for occasional additional payments.

@BluebirdHill

We don't all throw money away on lattes.

Ooh, that's me told!

Of course some people are on a very tight budget and 3.49 a month is crucial. Totally get that. I'm saying it's worth it for me. Has saved me time and trouble. Plus I am dubious about the idea that no one here spends 3.49 on anything not absolutely essential to life and limb.

It's nothing to do with being on a tight budget or whether or not it's absolutely essential.

It's about it costing over £40 a year for little more than what you can do yourself completely free.

I've never paid a penny for a bank account or credit card, and usually arrange things so I make a profit out of having one. So the idea of paying anything for a child to spend a few quid a month pocket money seems completely bizarre.

My younger DC both have Go Henry and it's great. DD2 went to Thorpe Park with school a few weeks ago and as it was cashless and she forgot her water bottle (I'd already left to take DS2 to school and reminded her before I left), it was vital.

There's some unexpected passion on this thread!

I think it's great.

Haha I can't believe the frothing on this thread. The coercive control comment cracked me up. If you have better options by all means suggest them but why so cross at those who use this one particular app?!

For my ds age it just seemed like a simple, child friendly option and I'm willing to pay for the convenience and also lattes.

We like it. My dc (6 and 8) have one and they get £2 a week each. Builds up nicely and quickly for them

At the time I needed to open an account for the relevant DC of mine, it wasn't possible because of Covid to do so a) within the time span needed - nearby branches weren't doing appointments for weeks and b) without taking time off work more than once to sort it. Believe it or not, when looking at what that would have cost, this was the cheaper option!
I've said repeatedly that won't be the case for everyone, but some posters seem unable to understand any circumstances where 'but it's free' might not apply. Such as where you can't actually get the free thing for ages. Or where the free thing costs you more in time spent, leave from work and so on.
I am not saying it's the best option for everyone. I am puzzled at people's difficulty in understanding why for some people, it might be the better option.

I'd rather give the child the 3.49 a month extra!
Our 11+ has own debit card (free) and great transferring money.
Our under 11 uses cash but we would get a card without charges (monzo? Hyperjar?) If she needed one.

It was so easy to set up and manage I’ll happily pay for it. A new bank account would have been far harder with loads of admin I don’t have time for. Couldn’t believe how easy Go Henry was. But then I’ll sup a few lattes a week too.

Account at mainstream bank took about 10-15 mins to open!

It was our own bank, no real admin as they did it. Just took birth certificate!

Yes maybe I assumed a main bank account would involve ID and loads of forms. Still happy with Go Henry though.

Just birth certificate. We didnt do the forms the bank person did. But really not anything difficult. And save 3.49 a month 😁

To be honest, hunting down birth certificate, trekking to local bank, filling in forms etc. Was worth the small charge for Go Henry. It took about 1 minute online.

I accept I’m lazy though!

* It's about it costing over £40 a year for little more than what you can do yourself completely free.*

Pretty sure you fritter away £40 a year in other ways. Everyone has their vices even if it’s not obvious. So shaming someone who wants to spend their hard earned money on coffee when they presumably earn enough to cover it is a bit meh.

I've never paid a penny for a bank account or credit card, and usually arrange things so I make a profit out of having one. So the idea of paying anything for a child to spend a few quid a month pocket money seems completely bizarre.

Good for you. While I personally don’t like to use Go Henry for the kids. For my family spending ££s on credit card annual fees / packaged accounts makes sense. For me it seems bizarre when people outright refuse to consider them without doing any research.

Dismayed by the fees? It's hardly extravagant!

My 7 year old has one. He gets £10 a week. I don't even notice the £3.50 fee come out the bank. I'll switch him to main bank account at 11. But it's perfect for now.