April 16, 2022

How Much Does GoHenry Cost

Read more about goHenry
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links. (read more)

Is GoHenry worth the monthly fee? Find out if GoHenry is a good debit card for kids. Plus, check out the best free GoHenry alternatives.

How Much Does GoHenry Cost?

GoHenry has a straightforward pricing structure with a single monthly fee. It costs $3.99 per month for a GoHenry account.

If you have multiple children, you'd pay $3.99 per kid each month.

GoHenry isn't the cheapest option for a kid's checking account. You could absolutely find a free debit card instead. But the educational app is a huge plus that really emphasizes financial education.

GoHenry Fees to Look Out For

There are a couple of additional fees you might run into when you use your GoHenry account:[1]

  • ATM withdrawal: $1.50/transaction
  • International ATM withdrawal: $1.50/transaction
  • Custom card: $4.99
  • Card replacement with different design: $4.99

If you often stop by the ATM when you're out, the $1.50 ATM fee could add up fast. And that's in addition to any fees the ATM itself charges.

To avoid the ATM fee, it's best to get cash back when you use your card at a store register.

There is also a one-time fee to get the custom card with your kid's name in the logo and a personalized design. It's worth the price if you want your child to get excited about having their own card.

How Does GoHenry Work?

GoHenry is a debit card and banking app designed for kids and teens. Unlike a regular checking account, GoHenry actually teaches kids how to manage money with a unique, educational app.

The app has a feature called Money Missions that turns engaging educational content into a game. Kids earn points and level up with every lesson.

Parents can also assign chores and allowance amounts for each task. And by earning their allowance, kids get a sense of accomplishment. The GoHenry app even encourages kids to set their own personal savings goals instead of spending the money.

The GoHenry card can be used wherever Mastercard is accepted. Your kid can use the card online, in-store, and at ATMs.

How to Put Money on a GoHenry Card

The main way to add money to a GoHenry card is through the parent app. You can link your debit card to the GoHenry account and use it as the main funding source for your kid's debit card. [2]

Keep in mind, GoHenry doesn't accept prepaid debit cards or American Express cards. But Visa and Mastercard debit cards will work just fine.

There's a $2 minimum to load money from your debit card to the parent account. Once your debit card is linked, you can easily transfer money to your account or your child's account. And there's no minimum to transfer money from the parent account to your kid's account.

You're limited to three transfers and a maximum of $500 per day loaded onto the parent account.[3]

Friends and family can also send money to your kid through Giftlinks. These are links you can send to others to gift money straight to your kid's GoHenry card. These are especially handy for easy birthday or holiday gifts.

What Age is Best for GoHenry?

GoHenry is available for kids age 6 to 18. But you'll find the app's features are best suited for kids on the younger end of that range.

Although the app offers age-appropriate, K-12 educational content, it may feel a bit immature for older kids. The chores feature also works better to incentivize younger kids to earn their allowance.

GoHenry still offers a lot of useful information for older kids. However, financial education is most effective starting at a young age. It's never too early to start teaching your child about money management.

Free GoHenry Alternatives

Don't want to pay for a debit card for kids? You don't have to with these free alternatives to GoHenry:

Copper Banking
Copper Banking is a free debit card and app for kids age 13 and older. The account has an educational app with engaging videos and short quizzes designed for the TikTok generation.

Copper offers useful features for older kids, like early direct deposit and a network of 50,000 fee-free ATMs.[4] If you're looking for a more mature account your teen won't be embarrassed to use, Copper is a great option.

Read more: Copper Review

Chase First Banking
Chase First Banking is one of the best free debit cards for kids. But you can only open an account if you're a current Chase checking customer. Like GoHenry, Chase First Banking is available for kids age 6 and older.

Chase offers chores and allowances, savings goals, and robust parental controls. You have a lot more control over where and how much money your kid spends. Unfortunately, the app doesn't offer educational content. But it's a solid choice for a free debit card[5] and checking account for kids.

Axos First Checking
Axos First Checking offers a free checking account for kids age 13 and up. The account feels a lot like an adult checking account, meaning you won't find features like chores or in-app money lessons.

Unlike the other accounts, Axos First Checking earns interest. The interest rate is pretty low, but it's a nice feature to introduce your child to compound interest. Axos also reimburses up to $12 in ATM fees per month, so you have better access to your funds.[6]

Bottom Line

GoHenry has a monthly fee of $3.99. GoHenry is far from being the cheapest debit card for kids. The fee covers just one child, so the cost adds up if you have a large family. But the platform offers a couple of interesting features that could be worth the price.

If you're simply looking for a good checking account for your kid, a free account like Chase First Banking will do the trick. On the other hand, GoHenry is great if you want to teach your kid money fundamentals from the ground up.

References

GoHenry Kids' Debit Card

GoHenry Kids' Debit Card

  • Real-time spend notifications.
  • Block and unblock cards easily.
  • Teach financial independence safely.
GoHenry card is issued by Community Federal Savings Bank, member FDIC
BusyKid Prepaid Card for Kids

BusyKid Prepaid Card for Kids

For $3.99/month, your family will gain access to entire app including charities, chores and up to 5 BusyKid Visa® Prepaid Spend Cards (one card per child).

FamZoo Prepaid Card for Kids and Teens

FamZoo Prepaid Card for Kids and Teens

  • Order Online
  • No Credit Check
  • Try for Free
Current

Banking for Modern Life

  • Get Paid Up to 2 Days Faster
  • Fee-Free Overdraft up to $200 with Overdrive
  • 40,000 fee-free Allpoint ATMs in the U.S.
  • No minimum balance or hidden fees
Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC

Donna Tang is a content associate at CreditDonkey, a bank comparison and reviews website. Write to Donna Tang at donna.tang@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Read Next:

GoHenry Review

GoHenry Review

Best Debit Cards for Kids

Debit Cards for Kids

Best Banking Apps for Kids and Teens

Best Banking Apps for Kids

Best Free Debit Card for Kids and Teens

Free Debit Card for Kids

Copper Review

Copper Review

Greenlight Alternatives

Greenlight Alternatives

Compare:

Leave a comment about How Much Does GoHenry Cost?




About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2022 CreditDonkey Inc. All Rights Reserved.