06 Aug 2021
Learning how to send and receive money between family and friends is an important part of your child’s financial education. Whether they need to pay back some money that they’ve borrowed, or receive money that’s owed by a friend, sending or receiving a secure payment via their gohenry account is much more convenient – and easier to monitor – than counting out coins and notes.
Our new payments feature makes it quick and easy for your child to securely send and receive money using their gohenry app. Younger children can send money directly to their parent(s) and siblings (as long as they have a gohenry account), while teens aged 13+ can sync their phone contacts with their gohenry account, which means they can send money to / receive money from friends who already have a gohenry account, and request money from those who don’t.
Our new payments feature is fun, free and simple to use. Using their gohenry app, your child can send and receive money via the payments feature, up to a limit of £250 per month, excluding family payments and requests. They won’t be charged any fees, and they can personalise their payment request with a fun, custom GIF.
Regardless of whether they send or receive money, all payments within the gohenry network are instant. Payments from external bank accounts may take a little longer to arrive.
There’s no need to worry about keeping track of your child’s payments, as you’ll receive a notification any time they receive or request money – and you also have the option to cancel any requests that you’re not happy with via your gohenry app.
According to a recent survey of our UK customers, 83% of teenagers said they have been owed money by a friend – and 59% said they’re owed money on a monthly basis. Unfortunately, in 17% of these cases, teens said they never got the money back.
Our new payments feature provides a simple solution to this problem: it takes the embarrassment out of asking for money back, and helps teach kids and teens how to manage money that’s owed.