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Sophie

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Review of the GoHenry, GoHenry prepaid card:

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Brilliant idea for family life

It’s a very easy-to-use platform that enables parents to regulate children’s pocket money in a way thats fit for the 21st century. Children can use their pocket money with contactless payment, withdraw it from a bank machine and spend it online - unless of course a parent blocks one of these if they don’t feel their child is ready to use these. For example, an 8 year old child may need to begin to learn how bank cards can be used and how contactless payments can be used, but their parents may not feel ready to introduce them to purchases online or withdrawing from a cash machine; the parent has the ability to remove and enable these features at any time. Parents can also receive alerts on when their child’s card is being used, where it is being used and how much has been spent: a brilliant feature for making sure kids are spending money where they should do! The only downside that I can think of is being unable to transfer money from a gohenry account to another account - for example if a child has an ISA. Nevertheless, the gohenry account has a savings feature of its own, allowing a child to set goals, developing their budgeting skills. Overall, a brilliant bank that is perfect for modern family life. Reviewed on: 25th November 2019

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