Wednesday, June 19, 2024

GoHenry Review

GoHenry positions itself as a ‘pocket money app‘. Founded in 2012, their mission has been to enhance financial education for children. To achieve this goal, they provide an app (with both parent and child versions) along with a debit card. Our GoHenry review delves into the key features of this family-friendly finance app.

GoHenry Review – In Brief

Financial education is paramount in today’s world. As our lives become increasingly intertwined with finances, it’s crucial for children to grasp financial concepts early on.

GoHenry offers a debit card and the Gohenry app with two versions: one for children to monitor their spending and card usage, and a parent account for guardians to oversee card and account activity.

GoHenry serves as an alternative to providing pocket money in cash, offering trackable transactions that allow parents to monitor their child’s spending closely. Moreover, managing their spending and budgeting their own money can serve as a valuable learning experience, providing children with a solid foundation in financial understanding.

GoHenry – Pros & Cons


  • Focus on financial education for children
  • Full visibility via parents app
  • Parents able to set restrictions on the app
  • 30 day free trial
  • Junior ISA offered


  • Higher monthly fee than some competitors
  • £0.50 per funds load on to the card (after the 1 free per month)
  • Not FSCS protected

What Is GoHenry?

GoHenry offers parents an alternative to traditional cash pocket money, along with tools to help their child learn about finances and money management through their app and debit card. They provide a dedicated app for parents, allowing them to monitor their child’s activity closely and set restrictions as needed.

Additionally, GoHenry provides a Junior ISA, which serves as an investment or stocks and shares ISA. With a minimum investment of just £1, there are no additional costs beyond the standard monthly app fee.

GoHenry Features

  • Trial period – 30 days free to test the app
  • Dedicated app for parents – with full visibility of the child app
  • Dedicated app for children – fun and accessible format
  • Visa debit card – with contactless functionality
  • Real time spending notifications – on both apps
  • GoHenry Junior ISA – save for their future
  • Use Apple Pay with the card – once the child is 13 years old

Who Is GoHenry For?

In today’s UK, cash payments are increasingly rare, with many establishments transitioning to card-only transactions. GoHenry addresses this shift by providing parents with a platform to electronically provide pocket money to their children, facilitating card payments. Moreover, the app serves as a tool for parents to educate their children about finance and money management.

While many high street banks offer child accounts, they lack the level of visibility and oversight provided by GoHenry’s dual-app structure for parents.

GoHenry Costs & Fees – How much does Gohenry Cost?

GoHenry offers two tiers of accounts: Everyday, priced at £3.99 per month, and Plus, priced at £4.99 per month. Both tiers include a debit card for the child, a dedicated app for the child, and a corresponding app for the parent.

The Plus tier offers additional benefits such as earning interest on savings (currently at a rate of 4.5% as of November 2023) and 1% cashback on spending. Moreover, the Plus tier provides a wider range of educational tools accessible through the app.

Loading funds onto the card incurs one free transaction per month, with a charge of £0.50 per transaction thereafter.

  • No ATM or card payment fees, in the UK or abroad
  • Free outbound transfers
  • Free replacement card
  • Customisable card for £4.99

Is GoHenry Safe?

GoHenry offers several protective features for users, providing parents with various ways to manage their child’s spending:

  • Inappropriate merchants, such as those selling alcohol or tobacco, are automatically blocked by GoHenry.
  • Parents can choose to block or allow different types of payments and withdrawals, including online, in-store, and ATM transactions.
  • Weekly and one-off payment and spending limits can be set by parents, along with limits on the total amount that can be withdrawn from ATMs.

As a UK-based company, GoHenry is regulated by the Financial Conduct Authority (FCA). However, it is not a licensed UK bank but rather an e-money provider. Consequently, deposits with GoHenry are not protected under the Financial Services Compensation Scheme (FSCS) in the event of the company’s insolvency. GoHenry assures customers that all funds are held in a separate NatWest account inaccessible to GoHenry.

GoHenry Alternatives

There are several alternatives to GoHenry for parents seeking to empower their child financially. Starling Kite, the child account from Starling Bank, caters to ages 6 to 16. While it’s slightly less expensive than GoHenry, it requires the parent to have a complete Starling Bank account. Alternatively, for those preferring a solution from a traditional bank, NatWest offers Rooster Money, providing under 18s with an engaging app and debit card. Hyperjar is another popular option.

GoHenry FAQ


It costs £2.99 per month per GoHenry account with a debit card. In addition, transfers into the account cost £0.50 each, although there is 1 free included per month.


GoHenry has a range of restrictions, such as automatically blocked inappropriate payment types (such as for alcohol or tobacco), and parents can set the types and amounts of payments allowed, and even block individual merchants. GoHenry is not a licensed bank, so balances are not protected under the FSCS in the case of the company becoming insolvent.


GoHenry can be used for payments and in ATMs outside of the UK.


Yes, GoHenry debit cards can be used in an ATM as normal. Parents do have the ability to block ATM withdrawals if they wish.

GoHenry Verdict

GoHenry provides parents with extensive visibility through its two-app structure, allowing them to monitor and control their child’s card usage. This ensures that parents feel confident in their child’s financial management while maintaining safety. This level of transparency sets it apart from child accounts offered by traditional banks. While some may find it relatively costly compared to competitors like Starling Kite, which is slightly cheaper, GoHenry’s broader range of features may justify the expense. Moreover, unlike Starling Kite, GoHenry is accessible to all parents, not just existing bank customers. Many parents appreciate GoHenry’s multifaceted benefits, serving as both a pocket money replacement and a tool for teaching financial literacy to their children.

Signup for GoHenry

*Please note: This article may include affiliate links. If you purchase through these links, we may earn a commission at no extra cost to you. This helps support our work and allows us to continue providing content like this.

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