Hyperjar

Does anyone have experience using hyper jar? We are considering setting up an account & getting cards for our 2 children (9 & 11). We thought this would be more beneficial rather than a bank debit card as spending limits can set and there's no fees. Anyone any advice, comments or used it? Thanks

Comments

  • omega27
    omega27 Posts: 260
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Switched over from Pockit and has been absolutely painless. 
  • Been using the kids cards alongside my HyperJar account for about 8 months now.

    Only issue, for me, is the kids having to constantly ask how much they have left on their card as there is no kids app yet.

    HyperJar are working on one apparently.

    I have created two Jars for each of my kids.

    One holds their Spending Money and is the Jar their card is linked to.

    The second I have named as their Reserve Jar and this is where I store any more of their money, not that I have had to use it yet as they are better spenders than savers.

    The idea was that their Spending Jar never has more than £40 in it, just in case they lose their card and the finder goes on a contactless spending spree before I can empty the Jar.

    If you do get one, make sure that the Back Up Account for the kids' Jar is set as none, otherwise it defaults to your Wallet, meaning they can spend more than you have allocated (assuming you have a balance in your wallet).

    The HyperJar kids card does not allow ATM withdrawals, so they cannot exchange it for cash and hide from you where they are spending their money.

    You will get a notification every time they spend, letting you know time, date, location, and spend total. Obviously, it doesn't tell you what they bought, but doubt any child card app does.
Meet your Ambassadors

Categories

  • All Categories
  • 341.6K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449K Spending & Discounts
  • 233.5K Work, Benefits & Business
  • 605.8K Mortgages, Homes & Bills
  • 172.3K Life & Family
  • 246.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards