Spending with the goHenry card
At an ATM
If your child needs to use their goHenry card at an ATM, this works much like any other payment card. When they insert their card, they’ll need to enter their card PIN number.
The ATM network does not currently support the provision of a real-time balance for Prepaid cards. The balance available using this feature at an ATM would only be the previous night’s balance which could be out of date when your child is checking.
There are a several reasons why your child’s card was declined at an ATM:
goHenry charges $1.50 for domestic ATM use and $2.00 for international ATMs. Please remember that parents can also set the rules for each child and turn off ATM usage if they chose.
This can be tailored to each child and turned on or off in real time. Please note, there may also be a charge on top of this fee by the ATM provider.
Using the Card in Stores
No, your child will not be able to get cash in stores at the point of sale. As long as ATMs are turned on for your child the best way to get cash is from an ATM.
No, your child will not be able to get cash by visiting a teller at a bank branch. As long as ATMs are turned on for your child the best way to get cash is from an ATM.
There are a few instances when you may see a pending transaction amount that is higher than the amount you spent.
Making Online Payments
You can use the goHenry card to make purchases through Paypal, however you will not be able to use the card to create a Paypal account, as you need to be 18 or over for this.
In order to use their goHenry card to buy something online, firstly you need to ensure that you’ve enabled online spending for your child. You can check this on the ‘Rules’ page within your goHenry account.
iTunes often tests that a card is valid by making a small transaction first. This is sometimes done when an online order is placed or when setting up a new account.
My Child's goHenry Statement
In order to see all the transactions your child has made on their card, as well as allowance and task payments to them you need to go to their statement.
A number of online retailers (such as iTunes or Google Play) often test that a card is valid by making a small transaction first (usually around $0.99) – it’s referred to as a pre-authorisation and is sometimes done at the same time the order is placed or when setting up a new account (i.e. on account create at iTunes).
Parents can set the limits in the app to decide how much their children can spend per transaction and per week. On top of this there are goHenry account limits which add a further layer of safe spending for our cardholders.
You can use goHenry cards to make contactless payments, as long as the retailer has enabled it. Sometimes they are referred to as “Tap and pay” payments.
No, not yet. Currently, your goHenry card won’t work with any of the popular wallets on the market but we are looking to introduce this in 2018.
The Giving Feature
We now allow children to donate to charity within a safe environment, all with parental oversight. To do this, we’ve partnered with one of the best known and well-respected children’s charity in the US – Boys & Girls Clubs of American (BGCA). Since the beginning of gohenry we have focused on three financial pillars, which represent a different lesson for our cardholders – Earning, Saving and Spending. Giving offers a fourth learning pillar to our service. If you’d like to learn more about what BGCA do, please visit their website here: https://www.bgca.org.
As a company on a mission to help children be good with money, it was really important for us that the charity we partnered with work to help children too. Boys & Girls Clubs of America (BGCA) is a charity that works to ensure that all children have a great future. For more information about what BGCA do, please visit their website: https://www.bgca.org
This is obviously totally up to you to decide. Experts such as Jean Folger (of Investopedia fame) suggest children donate about 10% of their allowance. So for instance, if they get $3 per week then $0.30 per week would be very generous.
In short, no gohenry doesn’t have access to the donations you give through the app. Your funds are held by our Issuing Bank, Community Federal Saving Bank, member FDIC, in a secure client account specifically for the purpose of processing transactions made via your gohenry card. The funds donated through Giving are treated in the same way.
Yes. When you or your child make the donation via gohenry, we will donate all the money pledged to the charity.
Yes, both parent and child donations will show up on your Parent Account and Child Card Account statements, which means you’ll always know exactly how much you’ve donated and when.
The amount you decide to give will be taken every week on the same day that your allowance is paid. If you’re not sure which day that is, go into your gohenry card account and click the ‘Earning’ tab. You’ll see your allowance day at the top of the screen.
Yes, if your child donates to charity it will be included in the amount spent for the week. This means that donations made through the Giving feature will count towards the weekly spend limit.
For example if your child’s weekly spending limit is $10, and $1 is spent on a chocolate bar plus a $0.50 donation, they will have $8.50 left of their weekly spend limit.
If your child has any savings goals set up, the automatic transfer will be paid into those ‘savings goals’ first. Once that is done, the Giving payment will be taken from your child’s gohenry card account. This means, if your child has insufficient funds to contribute to both, then their Savings Goal transfer will be made and their Giving donation will not be made for that week and will resume when money is available (for example, the following week).
If your child doesn’t have enough money in their account, the donation is simply skipped for that week. Don’t worry, when your child’s gohenry card account has enough money again, the donations will resume on the allowance payment day.
Boys & Girls Clubs of America’s (BGCA) is a charitable organization with a mission to enable all young people, especially those who need us most, to reach their full potential as productive, caring, responsible citizens. You can read more about them on our website here, or on their own website here: https://www.bgca.org
Giving can be disabled for one or all of your children by opening the mobile app, going to ‘settings’ in the menu, tapping the appropriate child tab at the top of the screen, then un-ticking the box marked ‘Enable Giving’ in the preferences section. If you’d like to enable ‘Giving’, you can do so by following the same steps and ticking the box marked ‘Enable Giving’. We understand that not everybody will want to donate to BGCA through gohenry so we made it really easy to disable ‘Giving’ if this is the case.