'Gohenry Debit Card for kids is it Scam or not and is it better than its competitor Greenlight Debit Card and Current Card App. What The Go Henry Debit Card: It’s a debit card built by the parent with children in mind for kids that comes with an app that allows there payments to pay them for shores. Over 500,000 families using the features, and it started in the u.s. My concern Paying your kids to do a chore could be a bad habit in some cases. For example, creating a child with an employee mentality. I don’t see anything wrong with paying your kids an allowance, but I do something wrong with not telling them what to do with that allowance. I would create an investment fund for them, emergency fund and even an education fund, that they’ll fund with there allowance. Pros of Go Henry: - Caps on weekly spending - Automatic allowances - Choose where she can use the card | Stores, Atm, Online (real time) - Notification when they use the card - Budgets check by checkings transactions - Block card in case she loses the card - Weekly recurring chores - Personalized card - Donate inside the app - Multi-platform support pc, phone, or tablet. - Put responsibility for spending on the kids Cons of Go Henry: - Micromanaging - Kids can just go the atm and take money out - Kids start to expect this as a paycheck (might be wrong, and in one of the commercial the girl says I love that I can see when it\'s coming next) - 3.99 expensive per child ( greenlight is 4.99 per family) Q&A Customer Service: (877) 372-6466 1. What are the requirements to join Just your parent social and name and address. 2. When is the customer service available 9am to 5pm eastern 7 days a week 3. What information do you need from my kid Just their name and date of birth 4. How much does it cost monthly 3.99 per Kid each month 5. Can I use the debit card anywhere in the planet, we go on vacation Yes but you will be charged a 2% increase 6. Are there any more fees associated with the account Nope, just the atm fees. 7. Free ATMs Nope you get to charge twice, by the atm and also gohenry $1.50 in the USA and $2 outside of it 8. Any savings features with interest Nope you can save, but won\'t earn interest 9. Any future investment features Maybe not sure 10. Long term goals for college Yeah just keep saving but don’t recommend it because you don’t earn interest 11. Does Apple pay work with it Nope, not yet but they are working on it. 12. Can they use cash app, venmo, and PayPal to send more to there friends also Nope, but you can use PayPal. 13. How many chores can you add Unlimited 14. How long do transfer take Instant 15. Can I send them cash over for emergencies and how long would it take. For free? Yes instant 16. Real-time with where they can spend money? Yes, it\'s real-time. 17. How many charities can I spend to Just the boys and girls club for now. 18. Earning, spending and giving ( will there be an investment feature in the future) Maybe, for now, they have a blog. 19. Fraud protection ( if they shop online buy something they should not have) Yes, and its also FDIC insured 20. What do you guys do with the privacy and information of my kids, what information do you keep? They encrypted it and also have a third party store the important stuff with the best tech on the market. 21. Can the account go negative Yes, but no fee, you can just call and pay it. Company details 1. Customer acquisition is $15, and they make about $60 net profit over the lifetime of the child with the card 2. 77% of revenue comes from fees and 23% percent from customize cards and loading mechanism, interchange revenue fee 3. They are targeting the us because we are most used to paying for these services while in other countries they are not use to it. UK banking is free 4. The marketing accusation cost they get it back in 12months which is good for business * PRO TIP* INFORMATION IS EVERYTHING Link: Articles https://www.gohenry.com/us/
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