Go Henry cards: are they worth it?

[Guest]

Do you have to pay monthly for it. My eldest is getting to the age where she’ll much rather have money to pick her own things. Or anything else that anyone recommends?

Thanks

[Jemma]

I use HyperJar, it’s the same but no charges

[Natasha]

My daughter has her own Barclays Bank account she has her own card it’s also contactless I don’t pay anything for the account.

These bank accounts with Barclays are children’s ones for ages 11+

[Leah]

Go with hyperjar. It’s like go Henry but free. You can save, set up new jars so if Saving for particular things child can set money aside. You can bank transfer to hyperjar. All it needs is an adult to open up an adult account & then you set up however many kid’s accounts. They can get a personalised hyperjar contactless card (up to £40 I think) or use with a personal pin you choose. I think it’s awesome & my kids have both over £100 each.

[Sam]

Far better to just open their own bank account at 11. They get a contact less card and if you use there same bank for you and then, it's very quick and easy to transfer money. They both have the banking app on their phones so they can check how much they have and keep track of their finances.

[Delvise]

Hyper jar if under the age of getting own bank account.

[Kirsty]

I got my son a bank card when he turned 11 he checks his account online on his phone and uses it when he goes to the shop with his friends.

[Amy]

No account were you have to pay is worth it. Bank accounts are supposed to be free (you pay for overdrafts etc) it's not a good money management lesson to teach them they have to pay for it. Depending on her age look at what accounts your bank do. I know Halifax do the exact same for free. They give your child a bank account with card and pa savings one. They even get an app they can move their money around in and the parent can view everything from thier account app and add money instantly etc

[Mcdade]

It’s not worth it I’m going cancel my child’s card they have now put it up to £7 a month. If your child’s 12 she can get a card with your own bank.