GoHenry Review
Comprehensive review and analysis of GoHenry's digital banking services
Quick Facts
- Founded
- 2012
- Head Office
- United Kingdom
- Active Customers
- 2+ million
- Total Funding
- £100 million
- Employees
- 200+
- App Store Rating
- 4.6/5
Pros & Cons
Pros
- Parent controls
- Financial education
- Task-based rewards
- Spending controls
- Savings goals
- Custom card designs
Cons
- Monthly subscription fee
- Age restrictions
- Limited features for teens
- ATM withdrawal limits
Supported Countries
- United Kingdom
- United States
Fees
- Monthly Subscription £2.99/child
- Card Customization £4.99
- ATM Withdrawals Free
- Foreign Transactions 2.5% fee
- Replacement Card £4.99
Overview
GoHenry has pioneered youth banking since 2012, focusing on teaching children aged 6-18 about money management. Their platform combines practical banking tools with financial education, helping parents guide their children toward financial responsibility.
Key Features
Banking Features
- Prepaid debit card
- Parent app control
- Spending limits
- ATM access
- Online payments
- Real-time notifications
Educational Tools
- Money lessons
- Financial quizzes
- Learning resources
- Savings challenges
- Budget tracking
- Spending insights
Parent Controls
- Spending limits
- Store restrictions
- Task management
- Instant transfers
- Card freezing
- Usage alerts
Youth Features
- Custom card designs
- Savings goals
- Task rewards
- Spending analytics
- Gift links
- Peer transfers
Security Features
- Parent oversight
- Spending controls
- Card freezing
- PIN protection
- Transaction monitoring
- Safe spending limits
Customer Support
- 24/7 phone support
- Email assistance
- Parent resources
- Help center
- Community forum
- Educational content
Verdict
GoHenry excels in providing a safe and educational banking experience for young people. Their combination of practical banking tools and financial education makes them particularly valuable for parents looking to teach their children about money management.
While the monthly subscription fee might seem high for a children’s banking service, the educational value and parental control features often justify the cost. The main limitations are the age restrictions and some features being too basic for older teens, but for parents seeking a comprehensive tool to teach financial responsibility, GoHenry offers an excellent solution.