GoHenry Review 2023: Is This Kids Debit Card Still the Best Choice?

Choosing the best debit card for your kids can be tough, especially with all of the options that are available on the market. Thankfully, GoHenry has kept its commitment to providing a secure and reliable financial platform for families since its launch in 2016 and has now offered its services for over seven years.

Choosing the best debit card for your kids can be tough, especially with all of the options that are available on the market. Thankfully, GoHenry has kept its commitment to providing a secure and reliable financial platform for families since its launch in 2016 and has now offered its services for over seven years. In this GoHenry review 2023 edition, we’ll explore why it remains one of the top choices for helping young people manage money safely online. Find out what sets them apart from similar services and if they remain the go-to choice in today’s ever-evolving landscape!

Table of Contents

Financial Learning Made Easy: GoHenry

The GoHenry app is for children and teenagers who want to learn about managing money and being responsible with finances. With this app, parents can create accounts for their kids, keep track of their spending, and teach them how to budget, save, and spend wisely.

The app provides various services to meet the unique requirements of each family. These services comprise a prepaid debit card for children to make purchases online and in-store, the power to set spending limits and manage where the card can be utilized, along with automatic weekly allowances to aid kids in understanding budgeting and savings.

Parents can use GoHenry’s “tasks and chores” feature to assign chores to their children and pay them a set amount upon completion. This feature is intended to teach children the importance of hard work and foster a strong work ethic. The app also offers various parental controls, such as real-time transaction monitoring, spending limits, and alerts, card blocking and unblocking, as well as account locking and unlocking.

GoHenry has a set of features and provides educational resources and tools for kids to learn about money management and financial responsibility. These resources include articles, quizzes, and interactive games that make learning about money fun and engaging.

GoHenry Review: What Are Its Pros and Cons?

Here’s an in-depth review of GoHenry, including its pros and cons.

Pros:

Financial Education: The GoHenry app is a helpful tool that can teach children and teenagers how to manage money and be responsible with finances. It offers educational resources like articles, quizzes, and interactive games that make learning about money enjoyable and interesting.
Parental Controls: With GoHenry, parents can use various parental controls to monitor their children’s expenses, establish spending boundaries and notifications, and manage the card by blocking and unblocking it, as well as locking and unlocking the account. These features help parents to oversee their child’s spending and teach them how to spend responsibly.
Easy to Use: Parents can easily set up accounts for their kids and teach them about money management using the app’s simple and user-friendly interface. It is a great choice for those who want to get started quickly.
Pre-paid Debit Card: The app provides a pre-paid debit card that kids can use for online and in-store purchases. This allows parents to give their children some independence while still being able to control their spending.
Task and Chores Feature: With GoHenry’s “tasks and chores” feature, parents can assign chores to their children and compensate them with a fixed amount upon completion. This feature is an excellent tool for educating children about the worth of labor and instilling a sturdy work ethic.

Cons:

Fees: Although GoHenry provides a free trial period, you must pay fees for using the service. These fees consist of a monthly fee for every child’s account and charges for withdrawing cash from ATMs and making transactions in foreign currencies.
Limited Spending Controls: Although GoHenry provides various spending controls, they may not meet the needs of all families. Some parents may require more specific limitations, such as restricting spending on entertainment or clothing or creating distinct spending limits for different types of transactions, such as online versus in-store purchases.
Limited Age Range: GoHenry is specifically created for kids and teens aged 6 to 18. Although it’s an excellent tool for teaching money management to children, families with younger kids who are not yet ready for a pre-paid debit card might find it unsuitable.
Limited Rewards: Although GoHenry provides rewards and incentives for tasks and chores, these may not motivate all children. Certain parents may prefer a customized rewards system that aligns with their child’s specific interests and inclinations.
Limited Availability: Families living outside the limited number of countries where GoHenry is available may find its usefulness restricted.

GoHenry is a useful tool for teaching kids about money management and responsibility. The app provides educational resources, parental controls, and a prepaid debit card. However, it has certain limitations, such as fees and limited spending controls. Nonetheless, it’s an excellent option for parents who want their children to develop good money management habits early on.

Final Words:

To summarize, GoHenry is an app for kids and teenagers to learn about money management and financial responsibility. Parents can set up accounts, track their children’s spending, and teach them about budgeting, saving, and responsible spending.

The GoHenry app has several strengths, such as its emphasis on financial education, parental controls, user-friendly interface, prepaid debit card, and task and chore features. However, users should also be aware of its limitations, which include fees, restricted spending controls, limited age range, few rewards, and limited availability.

GoHenry is a suitable option for parents who aim to assist their children in developing sound money management skills at a young age. The platform offers excellent educational tools, pre-paid debit cards, and parental controls, making it easy for parents to impart knowledge about money management that is interactive and impactful for their kids.