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  • FIRST POST
    tickety-boo
    Does anyone have any experience of go-henry
    • #1
    • 13th Apr 14, 6:39 PM
    Does anyone have any experience of go-henry 13th Apr 14 at 6:39 PM
    As title really. I have come across this site, on my facebook newsfeed, offering pre-paid visa facilities for children over 8. There is a monthly fee from parents of 1.97 (free for first month) and aims to increase financial independence in children in this ever changing world before they can actually qualify for debit card facilitys from most major banks.

    I havent heard of it til now, am interested as my youngest is 10 and not quite old enough to have a debit card/cash card from the bank she saves with.

    Does anyone have any experience please? Tia
Page 3
  • dasophster
    We tried to set up a Gohenry account but before we had a chance to put much money into it, they closed the account without telling us seemingly based on a credit check. Our credit rating isn't great but we have been approved for other things recently so we're mystified as to why this product that surely has no risk involved for Gohenry as no borrowing money is involved, has withdrawn their service. They didn't even have the decency to tell us either, just couldn't log in and then the guy in the call centre said he'd call us back. After waiting for hours they sent an email saying they reviewed the info given when the account was opened and decided to withdraw their services. So if you have a less than impeccablecredit rating yourself beware that Gohenry may withdraw their services without warning x
    • jonesMUFCforever
    • By jonesMUFCforever 16th Apr 15, 7:33 PM
    • 23,604 Posts
    • 10,878 Thanks
    jonesMUFCforever
    We tried to set up a Gohenry account but before we had a chance to put much money into it, they closed the account without telling us seemingly based on a credit check. Our credit rating isn't great but we have been approved for other things recently so we're mystified as to why this product that surely has no risk involved for Gohenry as no borrowing money is involved, has withdrawn their service. They didn't even have the decency to tell us either, just couldn't log in and then the guy in the call centre said he'd call us back. After waiting for hours they sent an email saying they reviewed the info given when the account was opened and decided to withdraw their services. So if you have a less than impeccablecredit rating yourself beware that Gohenry may withdraw their services without warning x
    Originally posted by dasophster
    They might have thought you were going to use it yourself?
    What goes around - comes around
    give lots and you will always receive lots
  • picklelily88
    Absolute rubbish - we've had a card for an entire year! It has never worked. Despite my calling, and emailing no-one seems to be able to give me a definitive answer I have been told a myriad of different excuses why it does;t work. I've now been told to go to an ATM to unblock it - even though I have done that before. I have asked them categorically to re-issue the card given it has never worked for my daughter - in a year!! but my request has been ignored and I was not allowed to speak to a superior about this situation. I have stood over my daughter and her card is rejected outright. They have no record of any earlier transactions so the person on the end of the phone cannot even verify my situation!! And they are unwilling to take my word for it! Take my advice and save your money.
    • mastertom
    • By mastertom 5th Oct 16, 10:29 PM
    • 2 Posts
    • 0 Thanks
    mastertom
    stay clear of go henry. be warned.
    We have had a bad experience of this and I advise anyone thinking of setting up an account to be very careful.

    I set up an account for my 11 year old son and put some money onto the card. In doing this, my debit card was linked to the account.

    I put 30 into the account and of that 30, 10 was put onto the card.

    Unknown to me, the browser had cached my gohenry user name and password and my son moved the other 20 onto the card. He then added another 20 from my debit card into the account followed by another top up of 9.25.

    He went on a spending spree, and I managed to block the account before any more money could be taken.

    Although a very good idea, the security aspect around this website is flawed. An 11 year old figured this out in 20 minutes.

    Be very careful, but my advice is stay well clear until they sort out the security aspect. Family computers are shared.
    • eDicky
    • By eDicky 6th Oct 16, 8:31 AM
    • 2,189 Posts
    • 920 Thanks
    eDicky
    Although I've not used it myself, an alternative would be Soldo:

    https://www.soldo.com/en-uk/

    It seems to be cheaper than GoHenry, especially for overseas use so the subsidiary card available for under 18s would be useful on foreign school trips etc. I like the feature where various kinds of transaction can be switched off, for control and security.
    • mapk
    • By mapk 6th Oct 16, 10:20 AM
    • 139 Posts
    • 60 Thanks
    mapk
    Thought I'd chip in with my 10 pence-worth. Why not chip and pin your children directly to prepare them for their brave new world?
    • Cgo33
    • By Cgo33 13th Oct 16, 9:46 AM
    • 2 Posts
    • 0 Thanks
    Cgo33
    Go henry
    I got my two eldest boys their go Henry accounts last yr, and so far so good. One is 15 and one is 13, I don't think primary school age is appropriate as tbh, I have a 9yr old and don't feel he should be away from my long enough to need a bank card or a mobile phone. Yes it has taught mine financial responsibility, few hurdles at first when my 13 yr old kept spending all his on the online games but missing wkend activities with his friends because he'd spent it all, but it's the nifty little app features that work for me. As soon as one of them spend a penny, I get a tx notification telling a me: what they've spent, where they spent it and at what time.
    I have now mastered the spending restrictions. If they have been in trouble, I can lock their cards and restrict their money, it also offers notifications if your child is trying to buy anything with adult content etc. Great idea, just wished I'd av shopped round as you can get custom cards with their names on (which I did) but their all added extras, just under 5 a month disappears from my bank each month. (Would be money smart to just hand my kids their cash) (only once I'v inspected their chores are done lol, because money needs to be earned)
    I would recommend this product but would say the age needs to be raised to 11.
    • Cgo33
    • By Cgo33 13th Oct 16, 9:53 AM
    • 2 Posts
    • 0 Thanks
    Cgo33
    I also like that (God forbid) if they got lost or stranded, I can do a quick transfer and it appears instantly on their card. Giving them the ability to get to a safe place or top up their phone or get a taxi/bus etc. And by using their card I also know their exact location. My eldest plays basketball all over the country and has a bright future doing it as a career. So with all the subway notifications I get, I know where he and his team are.
    • Keedie
    • By Keedie 13th Oct 16, 8:53 PM
    • 230 Posts
    • 992 Thanks
    Keedie
    My son turned 10 last week, and he has had his GoHenry account for about 2/3 months now. He really loves it, and it has taught him the importance of working hard for your money (if his chores are not done properly, he does not get paid), and most importantly how to save. We went on holiday in August, and he was doing chores, gardening for my mum, decluttering for my dad etc, anything to earn a little bit of money. As I advised him that he can have holidays but if he wants spending money, then that's on him.

    He has already started to save for our holiday next year, as he was restricted from a few activities as he couldn't afford it, and that bothered him. So he's set a target of 60-100 next year, as he only managed 40 this year, as he didn't want to spend too much on holiday as he was also saving up for an Xbox One S, as I refused to upgrade him from a Xbox 360 (although it is starting to freeze a bit and overheat at times). So he saved for months, did extra chores, and told anyone that would listen, that he wanted a bit of money for his birthday. And seeing his savings goal percentage increasing each week, was a big boost for his confidence

    Children nowadays are living a completely different life that we did at their age, and I think that teaching them to survive as financially responsible adults is no bad thing. They still understand the value of cash, and he puts all of his spare coins in a money tin, then pays them into his savings account, just as he has seen me doing for years.

    Yes, this is a money saving site, but if you have a child that is ready for certain (controlled) financial responsibility, then why do you have to deny them the opportunity to learn until they turn 11? Perhaps, it is not websites and apps such as GoHenry or Osper that are wrong for aiming their services at 8 year olds and up - maybe the banks themselves could do with lowering the age limit... Then I would not have to pay for such a service, although it is money well spent.
    Last edited by Keedie; 13-10-2016 at 8:56 PM.
    LBM 27/06/16 = 24,140.60 (7 creditors) BUT on 28/03/2017 = 13,726.41/24,140.60 (5 creditors) = 56.86% repaid
    Aiming to be Debt Free = 31/12/2020
    • jimjames
    • By jimjames 14th Oct 16, 1:23 PM
    • 11,665 Posts
    • 9,933 Thanks
    jimjames
    Although I've not used it myself, an alternative would be Soldo:

    https://www.soldo.com/en-uk/

    It seems to be cheaper than GoHenry, especially for overseas use so the subsidiary card available for under 18s would be useful on foreign school trips etc. I like the feature where various kinds of transaction can be switched off, for control and security.
    Originally posted by eDicky
    Surely on a money saving site the alternative would be a bank account where it costs nothing and gives the child a debit card. My kids have had accounts since they were 11 which gives them a good grounding on handling money and using the card for spending.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • titchwitch
    • By titchwitch 28th Oct 16, 11:18 AM
    • 4 Posts
    • 0 Thanks
    titchwitch
    It's actually very helpful
    I know this an old thread but in case anyone reads this again....I've been using gohenry for my kids for some time and it is so useful. Contrary to the comments about it not teaching kids about money, about it seeming as though what they're buying is free, it can teach them an awful lot if you use it right. The site allows for the parent to set tasks for kids to do which earn rewards and its all visible for the kids and they can see what they need to do. In fact i find its easier to see how money is being spent than when they have cash, for parent AND child.
    • redheaded
    • By redheaded 2nd Nov 16, 3:23 PM
    • 2 Posts
    • 0 Thanks
    redheaded
    go henry
    I have a go henry card for my 14 yr old autistic son. I don't always have cash on me to give him his pocket money and this way I can load money onto it through the parent app and it goes on immediately, great if he is stuck somewhere and needs cash to get home.
    I can also immediatly restrict the use of the card or block it, if i need to. I can also see exactly what he spends his money on and when as i get a notfication to my phone the moment he uses it.

    I am in complete control of his finances as he is unable currently to control them himself. If i gave him a normal debit card, I wouldn't see his transactions in real time. I can load his card with a pound at a time if i want to reward him for something and then he can choose to spend it or save it. He can see what he has spent and what he has left by using the child's mobile app.

    It has saved us lots of hassle in the past when he has needed cash to go out and i haven't got any, I can load his card with a fiver and he can go and get it out of the cash point.

    You can also set daily and individual spend limits so that he could only spend eg 3 in any one transaction.

    There is a fee of around 2 a month for the account but tbh i feel its worth it for the peace of mind I have. If he loses his card, which he has on more than one occasion, I can immediatly block it so that it can't be used. If he then subsequently finds it, which can also happen I can then unblock it rather than waiting for another one to be issued by the bank. They can also customise their cards if they want.

    I don't work for go henry but do feel that its a good idea for certain children and a good way to introduce them into the idea of financial independence with a safety net.

    I have a friend who gave her 12 yr old a debit card and put 60 on it to last him a couple of months. He decided to treat all his friends to macdonalds the next day and spent the lot. Understandably there was a consequence for this but the parent was still 60 down with no way of controlling the spend.

    Hope this helps.
    • Chino
    • By Chino 2nd Nov 16, 9:24 PM
    • 347 Posts
    • 157 Thanks
    Chino
    I'll say this for the goHenry shills - they're a persistent bunch.
    • Jaikido
    • By Jaikido 26th Feb 17, 7:30 PM
    • 1 Posts
    • 2 Thanks
    Jaikido
    Sounds like a rip off!
    A monthly charge (that should cover admin) but then a 50p charge when you add money. No thank you, whole thing sounds like a waste of money.

    I'm not going to comment whether I think an 8 year old should have a debit card or mobile phone or other adult like items but I would add that if you want to teach your child about spending money correctly and especially when using plastic then just wait until they're 12 and they can get all these things for free through a bank (a regulated bank).

    There's no hurry to make your children grow up even faster than they do!
    • Blockflutejane
    • By Blockflutejane 12th Apr 17, 3:29 PM
    • 1 Posts
    • 0 Thanks
    Blockflutejane
    Go Henry
    It's fantastic, but I wouldn't have used it from 8. We started when our son went to secondary school. The advantage is you have full control...You can see what they are spending and where and you give allowance for good behaviour/tasks. You can block the card at any time (fabulous punishment for poor behaviour, he hates it) and you can control what how much they spend each wee, or each transaction and where.
    I am finding it a great stepping stone to full independence, as we can help him with where he goes wrong. The saving scheme they have is also great. Each time he gets an allowance he automatically transfers so much into a saving scheme and it tells him how long he has to save for that item. he also uses it to budget for Christmas presents. it's not cheap, and I will transfer to a normal bank card eventually, but this is peace of mind and I really don't mind the monthly charge for that...Oh and my son developed a saving habit from it, and instead of squandering his money on sweets he has saved up pocket money and birthday money for an Apple Watch. Fantastic training in my opinion.
    You don't have to pay to transfer money, only if you use a card. You can transfer free from your bank account.
    Last edited by Blockflutejane; 12-04-2017 at 3:31 PM. Reason: Addition
    • MKB666
    • By MKB666 16th Apr 17, 4:34 PM
    • 1 Posts
    • 0 Thanks
    MKB666
    We have them for our 10 and 12 year old children. They are not Credit cards, they are pre-pay cards that you top up online. They are fantastic for my children as they don't have to worry about taking cash with them and the risk of either losing it or having it stolen from them. I find all the negative comments rather disturbing, posted by people with no experience of the product yet hugely opinionated in what they think is right and wrong. They really need to get a LIFE.
    • Armorica
    • By Armorica 24th Apr 17, 12:30 AM
    • 658 Posts
    • 495 Thanks
    Armorica
    Although I've not used it myself, an alternative would be Soldo:

    https://www.soldo.com/en-uk/

    It seems to be cheaper than GoHenry, especially for overseas use so the subsidiary card available for under 18s would be useful on foreign school trips etc. I like the feature where various kinds of transaction can be switched off, for control and security.
    Originally posted by eDicky
    Yes. I had go henry but didn't use. Soldo we've been using with the kids more successfully. The level of control is very useful. At 16 now the kids are relatively independent but their spending still needs to be constrained! And cards provide a reassuring level of transparency that cash simply doesn't.
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