By blending real-world spending with parental oversight, it transforms financial education into an engaging journey for families. Young users learn budgeting, saving, and responsibility while parents guide their progress through customizable tools.
Key Features of GoHenry by Acorns Kids Banking
Automated Allowance: Weekly payments teach kids to budget and prioritize expenses.
Savings Goals: Kids set targets (like a new bike) while parents approve or adjust goals.
Money Missions: Bite-sized quizzes and videos make financial literacy fun and age-appropriate.
Chore Rewards: Parents assign tasks (e.g., "walk the dog") tied to earnings, fostering responsibility.
Parental Controls: Block specific stores, set ATM limits, or freeze cards instantly via the app.
Global Usability: Fee-free spending abroad makes it ideal for travel-loving families.
Advantages of GoHenry by Acorns Kids Banking
Builds lifelong money habits through hands-on practice.
Real-time notifications keep parents informed about every transaction.
Prepaid cards eliminate debt risks while teaching safe spending.
Family-friendly tools let relatives contribute via Giftlinks.
Teen accounts (13+) unlock advanced features like direct deposits and Apple Pay.
Charity donation options instill empathy alongside financial skills.
Disadvantages of GoHenry by Acorns Kids Banking
- Monthly fee required (starting at £3.99/child).
- Parent/guardian sign-up mandatory for under-18s.
- Limited card design customization outside 45+ options.
- Some users report dependency on app functionality for basic tasks.
Development Team
GoHenry by Acorns is developed by a team combining fintech experts and childhood educators. Its parent company, Acorns, specializes in financial wellness tools, ensuring the app aligns with banking security standards (FDIC-insured via Community Federal Savings Bank).
Competitive Products
Greenlight: Offers investing features but lacks GoHenry’s gamified learning.
Revolut <18: Focuses on global spending but has weaker parental controls.
BusyKid: Emphasizes entrepreneurial skills but lacks prepaid card flexibility.
Market Performance
Boasting 4.7/5 stars on Trustpilot and 4.8/5 across app stores, GoHenry has over 54,000 five-star reviews. Parents praise its impact, with 92% reporting improved money confidence in kids. Over 2 million families use it globally, citing ease of use and educational value.
