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Why do you charge a service fee for loading your parent account?
Each time you top-up your goHenry parent account, a fee is incurred by our banking partners. In order to ensure we can continue to provide you with the goHenry service, we need to pass this charge onto our members.
However, As a goHenry parent you get one parent account load included per calendar month.
There is a service charge of 50p for any loads after that.
Here are our top tips for making sure you get the most out of your membership fee.
Tip #1 - Plan ahead to avoid any extra charges
We know that paying extra to load your account was a pain, and whilst we do still need to cover the costs we incur when you add money to your goHenry parent account, we want to help you make sure that you avoid paying extra to keep your account topped up where we can.
We recommend loading enough to cover 4 weeks pocket money each month, that way you can avoid ever paying any service charges for topping up your account under our new policy.
Over 80% of goHenry parents use a debit card to load because the money arrives faster and they find it more convenient - so we hope this is simpler, whilst also giving the option to avoid extra charges by planning ahead and making the most of the 1 load included per month.
Tip #2 - Automate pocket money
Setting-up regular pocket money (rather than making one off transfers) helps children learn to budget and think about how much money they have left before their next pocket money day. You can set up an automatic weekly allowance that goes into your child’s account here. Or, if you’d rather set tasks and chores weekly, you can do that here. We’ve also got an article here on the different ways goHenry parents pay pocket money.
How much is it? There is a monthly membership fee of £2.99 per child. Unlike other Pre-Paid cards, there is no charge for provision of the goHenry card (unless you choose to purchase a custom card during sign up). All ATM withdrawals and purchase transactions in the UK are free. We include one load to Continue Reading...
goHenry was started by parents for parents and their children and we simply need to charge a small fee to keep the service running. We believe the unique features of our website, apps and card provides families with flexibility and convenience to manage money together and to help their children learn valuable money skillst hat Continue Reading...
There is a charge for using Auto top-up. Like other methods of topping up your parent account, you get one top-up per calendar month included as part of the gohenry service. Any additional Auto top-up payment will incur a 50p banking charge. We need to charge this fee in order to cover costs incurred by Continue Reading...
What is PSD2? PSD2 stands for Payment Services Directive (2)... It is designed by countries of the European Union to create a common legal framework for businesses (and consumers). It will have a big effect on the payments industry, changing things like how we pay online and the information we see when we’re making a Continue Reading...