Does anyone have any experience of go-henry

SaveYourMoney_2

Tried this service out, but after a couple of months

realised that the kids got bored of it very quickly, didn't

help that my eldest son couldn't install app on his

smartphone. In the end they found computer games and playing

with friends outside far more enjoyable than what this

service offers. I then closed the account and was told my

money would be back in my account within 10 days!!!! Funny

this digital world we live in where financial companies

penalise you instantly yet they take forever to give you

your money back. It's gone past 10 days and I still have

not seen the money on my account????? Maybe a quick email

to BBC Watchdog and Financial Ombudsman might get them to

wake up and give my money back. Poor customer service -

certainly won't be recommending them to anyone else I know.

Muddyfunk

I signed up for this yesterday as my boy is turning 13 on July 8th. The GoHenry website is fairly easy to use (once you've set up your Profile and account) but the Identification Check can be somewhat troublesome if you're not on the electoral roll, however, 1 phone call to an 0330 number (cheap from a mobile) should do the trick if you've got a full UK driving licence or a passport. Customer Services are a little bit lame but they do get the job done (eventually). They'll even give you a call back if necessary.
With regard to the people saying that debit cards aren't for 8 year-olds, well. that's your choice but you must appreciate that we are living in an increasingly growing electronic world and sooner or later your child/teen will be using a debit card anyway; it's no different to giving them pocket money except they don't have to touch germ-ridden coins.
I did a lot of research before deciding to give my boy a debit card. The good thing is parents can set limits on what your child can spend in any one transaction so if you were to give them £10 for exceedingly good behaviour and doing chores etc then you can stop them spending that all at once if you wish.
You give your child a fixed amount of money (from as little as £1) a week which is deducted from the Parents bank account and transferred into your childs account. You can also choose what day of the week this is done. When you transfer money from your account (the Parents) it costs 50p a time to cover their admin costs (which I think is fair considering a lot of small shops do this anyway).
You can also link your childs account with family members so they too can transfer funds into the childs account for things like birthdays & Christmas etc.
The thing is, you don't HAVE to transfer money into the childs account if they haven't deserved it; they get to keep an empty debit card and if there's money on the card then you can stop them from using it
All in all I think it's a good idea (especially in this age of computer games, tablets, smartphones and the like).
GoHenry say they were set up by parents for parents. I think it's early days for the company yet and I had a few problems setting up an account which has now been rectified.
The debit card is sent out within 3-5 days, there are no hidden charges, you get a PIN and your child gets a different PIN and there's a mobile app which works surprisingly well. (Android and IOS).
Well, that's it. Hope you've enjoyed reading. Have a lovely day and please be gentle, this is my first comment on MSE (and no, I don't work for GoHenry)

Muddyfunk

SaveYourMoney wrote: »

Tried this service out, but after a couple of months

realised that the kids got bored of it very quickly, didn't

help that my eldest son couldn't install app on his

smartphone. In the end they found computer games and playing

with friends outside far more enjoyable than what this

service offers. I then closed the account and was told my

money would be back in my account within 10 days!!!! Funny

this digital world we live in where financial companies

penalise you instantly yet they take forever to give you

your money back. It's gone past 10 days and I still have

not seen the money on my account????? Maybe a quick email

to BBC Watchdog and Financial Ombudsman might get them to

wake up and give my money back. Poor customer service -

certainly won't be recommending them to anyone else I know.

That's all too common having to wait for the money to be re-credited to your account; loads of places do that and I hate it too but it's not eactly GoHenry's fault that you have decided your child enjoys playing computer games or going outside more than he does having a convenient way to pay for things or earn rewards in the form of a debit card. I'm sorry but I do think your point is unfair.

overlander

We got one for our 13 year old and we find it outstanding tool for teaching her life skills.

The deal is she gets £20 a month guaranteed pocket money, she has to save 50% of this and when it reaches £100 she can put it in her savings account or buy what she wants.

Second lesson, you work hard you earn money too many youngster seem to skip this point.

She gets paid £0.20 for tasks and she can do 3 a day. The house is spotless and I think the dog has lost a stone or 2 in weight.

All valuable life skills, but think I have trained her too good she makes Scrooge look like a spend thrift. I know this can be achieved using cash but let's get real they
ain't coming out into a cash world. So the quicker she relates the card to real money she earns the better. In my opinion this type of card should be compulsory.

Ps she still plays computer games and goes outside the card has not stopped her doing that !!

casualcarina

I have had a Pktmny and/or Go Henry account for over 3 years now. My son is now nearly 15 and not overly keen about the amount if control I still have over his finances. However this is not a criticism of the account at all. I have read about other parents whose children have spent ridiculous amounts on line with their own or parent's card.

I like this account as I have such control. You can easily tick the boxes to allow on line, cash machine or debit card payments - so I block his on line use unless he asks me to let him. He would spent far too much on Xbox live etc. When he is out with his friends I know where he is using his card. No - I am not a control freak at all! -but teenagers can be difficult.

Yes you do have to pay a fee for the control you have but I know my son would happily admit that having this account has taught him that you have to earn money in order to spend it (you set chores if you wish). Once you spend your weekly set amount then that's it. With a teenage bank account they can have free rein to spend as they wish.

I would have used this account when my son was much younger. I may not have left him at aged 8 with the debit card bit but logging onto the account himself and seeing what he has saved and what he has to do to earn pocket money I think is only a good thing. After all society seems to be functioning where borrowing is all okay. Better to learn to earn.

anoncol

BillJones wrote: »

Because it can make it feel as though the sweets are free, as you don't hand anything over for them.

I'd agree with others that this is likely to be great for the credit card companies in the long run, but not so great for the children.

Why though? Properly educated and they will understand.

shegirl

I've just signed up for my son and my niece.


My niece because she lives miles away,was kicked out of her home for no good reason (self harming) and is currently staying a care provision where she is meant to fend for herself but in reality can't (just turned 17,vunerable girl who overdosed,has been abused and nobody but me and my son care). She will constantly be moved around etc. She gets birthday and exam treat money from me and I often have to send bits. This makes it easier as she has no bank account and sending cash is always worrying.Great for her.


My son,15 and severely autistic, not much of a clue with money but I have to try and teach him best as I can. His will be used for his monthly budget I will set him for activities/going out with his support workers and treats with the rest. That way, I can monitor it aswell rather than sending him with my card or running out for cash, myself or his support workers can sit with him and work out what he can do that month or week based on the money he has in his Go Henry account, it's limited so he can't take out loads of cash lol and he can watch it on the app and see when it goes in and when it goes out.


For ds that is an important life skill that he needs to learn, so I think it's a brilliant idea and worth the monthly fee. It's also a much safer way of me sending him out with a card.


As he likes visual things and relates well to technology he will take interest in the app and it's perfect for him. It will also help him with seeing what he can earn if he tries doing little jobs around the house. Even if he does think he should get £10 for dusting his piggy bank :rotfl:


I think it's a fab idea. There is nothing at all wrong with giving kids debit cards and using an app. It's almost like a way to introduce them to online banking and the future of their money payment -most people are paid direct to accounts these days!

shegirl

Just to add, there is currently 3 months free rather than just the first month

inicholson

If you want to try it out you can get the first 6 months free here:

http://www.gohenry.co.uk/msetest/

Personally it looks like a great way to teach kids that paying a fee for a card isn't worth it; Get them onto a free bank account with a card as soon as they're 11 and save almost £24/year/child.

callum9999

I'm sick of the common mantra on here, and from adults in general, that kids are thick.

They have grown up in a completely different world to you, and are no doubt much more street smart than you were at their age. While you need to make an individual judgement on your own child, most 8 year olds are more than capable of understanding how a card works. For those that aren't, using a card with limits while being monitored is surely much more preferable than throwing them in the deep end when they are old enough for proper cards?