GoHenry was set up in 2012 by a group of parents who wanted to encourage children to understand more about money. It consists of a child account, a parent account to top up the child account and a Visa prepaid card. The accounts can be managed via the app.
Meanwhile, its biggest rival, HyperJar, is a prepaid card and budgeting app that enables you to organise money into different “jars” for different purposes, one of which can be your kids’ pocket money. The Hyperjar Kids Card can be linked to one of your jars, so you can transfer their pocket money at any time.
So, how do you decide which option is best for you and your child? We take a look at how they both work so you can make the right choice.
GoHenry is a financial tool suitable for children aged between 6-18, while HyperJar Kids is aimed at children aged between 6-17.
GoHenry comes with a prepaid Visa debit card and your child can customise it by choosing from more than 45 different designs. HyperJar Kids comes with a prepaid Mastercard debit card that comes in standard colours of blue and yellow – but also glows in the dark.
Kids and parents alike can manage their money through the GoHenry and HyperJar apps. GoHenry’s app is tailored to your kids’ age and parents also have a companion app to help them track their kids’ progress, set flexible boundaries and goals and get real-time spend notifications. With HyperJar, kids download the same version of the app as their parents, but with a few additional tweaks. Parents will still have full control of their kids’ spending, including being able to set limits.
Because both GoHenry and HyperJar Kids offer prepaid debit cards, there’s no overdraft available so you don’t need to worry about your kids getting into debt.
However, as both GoHenry and HyperJar are e-money products, your funds will not be protected by the Financial Services Compensation Scheme. Instead, your money will be held in segregated accounts governed by the e-money regulations of the Financial Conduct Authority (FCA), which means you should still get your money back if either company stopped trading.
In our independent 2024 Customer Satisfaction Awards, GoHenry scored 4.5 out of 5, with 93% of users saying they would recommend the service. HyperJar Kids scored 4 out of 5, with 88% of its users saying they would recommend it.
GoHenry limits the number of accounts you can have per household to 4. With HyperJar, you can order as many cards for as many kids as you have living at home. Each prepaid card will be linked to one of your “jars”.
Both HyperJar and GoHenry also allow other family members (not just parents) to pay money into your child’s account. Relatives will need to create their own account with HyperJar or GoHenry to be able to do this, but GoHenry also lets relatives and friends send money to a child’s card via Giftlinks.
ATM withdrawals are permitted up to £120 a day with GoHenry, but you cannot withdraw cash from an ATM with the HyperJar Kids card.
There are a number of similarities between the GoHenry and HyperJar apps but also some key differences. Both offer spending controls and card notifications for parents, and both let parents freeze a card if it is misplaced and unfreeze it again when found.
Both also include savings goals. GoHenry will calculate the amount your child should save based on the amount of pocket money they get and their end goal date (though you can amend this as required). With HyperJar, you can simply set up different money jars with different names and colours, plus targets for how much you want to save in each.
However, GoHenry’s app is a little more advanced as it also offers a “Money Missions” feature, with different levels of learning for different age groups. Through a combination of stories, videos and quizzes, your child will be able to learn more about managing their money from budgeting and planning to borrowing and credit.
Winner: Although it’s close, GoHenry’s app offers a wider range of features.
There’s no monthly fee to pay for HyperJar Kids, but with GoHenry, you’ll need to pay £3.99 a month (customers can take advantage of a 1-month free trial first). GoHenry also charges a card loading fee of 50p, although you’ll get 1 free load per month. There’s no loading fee with HyperJar Kids.
Your first HyperJar Kids card will be free of charge, but replacements cost £4.99. Standard GoHenry cards are free, including replacements, but if you want to change the design, you’ll pay £4.99 for a customisable card or Eco Card.
In terms of using the card abroad, cash withdrawals are not permitted with HyperJar Kids, but there are no fees for card purchases. There are no fees for either cash withdrawals or purchases overseas with the GoHenry card.
Winner: HyperJar Kids because there are no monthly or loading fees to pay.
Overall winner: Is GoHenry better than HyperJar Kids?
There’s a lot to like about both GoHenry and HyperJar Kids, which means this isn’t a straightforward decision. They are both great options if you’re looking for a way to help your child become more financially independent, while also maintaining an element of control over their spending.
However, we’d say GoHenry definitely beats HyperJar Kids in terms of offering a smarter app that will adapt and change according to your child’s age. It also lets your children withdraw money on their prepaid card, which you can’t do with HyperJar Kids.
That being said, GoHenry is relatively expensive compared to HyperJar Kids. This means if you’d prefer not to pay a monthly fee or if you’re not fussed about the extra features available on the GoHenry app, HyperJar Kids is likely to be the better option for you.
Kids' cards scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio
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