This one has come up, time and time again over the years and on both FinTech Insider and InsurTech insider - I've looked at them with interest, but never had the need to solve it properly. Long gone are piggy banks, the regular race around the house over the last 18 months to find 50p for the tooth fairy is getting harder and harder. There's no cash around, anywhere. We've even raided the car, where once there would be money for parking meters, now moved entirely to apps and PayByPhone. Very few people give cash these days - birthday parties are much more convenient with print-at-home - Amazon gift cards... I doubt the next generation will have any clue about
I started with Gohenry four years ago and also invested in them which I think gives me an investor badge and waived monthly fees. I am a great Revolut fan and now use Rev Junior as the primary card. I wish there was a way for parents to both have the same access to manage and for kids to also be able to make transfers to relatives.
I share your pain, 12 and 9 year old boys who you want to teach and give some independence yet the high st really don’t want you to do it or want to charge monthly fees for it, if i can have a fee free credit card why pay up to £5 a month for my kids accounts with their own cash!, id rather give them the money!!. Our workaround was to get them accounts in trust at a high st bank and then use cards in our names which we transfer monies to make purchases for them. Great article Mr W, keep them coming
Just seen this. Nigel great article. I used Go Henry for both kids and then moved to Metro but I think there is still a gap in the market. Metro is a pain as if you want to do anything you have to go to branch, they feel behind the times. Will look at Revolute for youngest now - thanks for the research xx
I started with Gohenry four years ago and also invested in them which I think gives me an investor badge and waived monthly fees. I am a great Revolut fan and now use Rev Junior as the primary card. I wish there was a way for parents to both have the same access to manage and for kids to also be able to make transfers to relatives.
Good article Nigel.
I share your pain, 12 and 9 year old boys who you want to teach and give some independence yet the high st really don’t want you to do it or want to charge monthly fees for it, if i can have a fee free credit card why pay up to £5 a month for my kids accounts with their own cash!, id rather give them the money!!. Our workaround was to get them accounts in trust at a high st bank and then use cards in our names which we transfer monies to make purchases for them. Great article Mr W, keep them coming
Just seen this. Nigel great article. I used Go Henry for both kids and then moved to Metro but I think there is still a gap in the market. Metro is a pain as if you want to do anything you have to go to branch, they feel behind the times. Will look at Revolute for youngest now - thanks for the research xx