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My younger two have Go Henry cards and I’m very positive about them. Ultimately I know what they’re spending on and where and I can control what, where and how much. And if they try to buy something eg online which I’ve banned, then I get a message immediately! In case of emergencies I can top up. I add birthday and Christmas monies. I can incentivise them - warm more for tasks etc - and they learn to budget. Plus it’s their money, their card and it’s stopped them trying to steal mine!

That sounds promising. How much detail do you get on what they spend? And can you set up a weekly top-up rather than a monthly one without incurring additional fees? Sorry for more questions...

Yes both mine have Go Henry cards. We top up weekly (set automatically) but also on an adhoc basis if needed. If you have the login saved on your phone you can top up at a minute's notice. You can click on their account and get info on time, shop and value spent for each transaction You can also write notes on transfers you make to them. Dd1 has never been reliable with money (used to steal from us) so we limit her weekly spend and put money on the card for lunches on days she's at college etc. They can also withdraw cash if they remember their pin (but rarely do this). I used to write their pocket money down in a book but only give it them when they actually wanted to spend it. Go Henry is much easier. If they lose the card you have to pay a few quid to replace it (or they do) but the balance remains. Actually between them they've only "lost" one once when dd1 had her bag stolen.

Yup. I can endorse GoHenry. We have used it with both children for a couple of years now. You can set up regular transfers from you to them. Or pay money when needed (as in instantaneously - as long as you have access to the Internet). You can instantly get money back from them to you too, if you need to! My DH owns the actual account but I can pay money to either child whenever I want to. I can send a message with the money. The card can be used pretty much as any Debit / Contactless card, assuming that there is enough money on it. As the account holder you can see where the card has been used and what has been purchased (I think). These cards will probably evolve but, for today, are pretty good and give a fair amount of information about how the card is being used. Sadly, this will not stop stealing ready cash from somewhere convenient (like a purse or handbag) but it does mean that you have a degree of insight in to what is going on. Not sure if this answered your question but I do advocate looking at GoHenry further if you are at all going down this avenue.

I do wonder what the attraction of such cards are over an ordinary debit card. Any debt incurred by an under 18 year old cannot be pursued legally. My 3 all have current accounts, which are free, even paying a small amount of interest if they don't spend all their money as soon as they get it. Their contactless cards have always been replaced free. I pay their pocket money in weekly and the bank/building society never lets them go overdrawn. To view their transactions I just have to log into their accounts on line.

Mine both have Nationwide accounts with debit cards - what my son earns gets paid in directly and my daughters universal credit and I can transfer too if necessary - there is no overdraft facilities but they can set up regular payments and it won’t let them take out more than they have taking these into account too. I think some of the bigger banks allow overspend - one of my older ones had an account with Barclays which I think did this. They get monthly statements (which I can see too as they’re left lying around) and could set up online access but haven’t. It does seem to stop the taking of readily available cash and provides some sort of assurance to them too that there’s a safety net there I think. I used to keep account of pocket money but not give it to them until needed when younger but there was always the temptation for them to ask to “borrow” more which could be a nightmare - a card keeps it at one removed I think

We use bank accounts with debit cards here, saved hassle of setting one up when eldest began work. I can easily transfer younger one his pocket money and elder one can easily send me his rent !! I can however see the value of Go Henry if you have concerns about what they might spend their money on, that go more serious than sweets and soft drinks. Or if they are too young for a bank card. I suppose it depends on the child, though they will all need a bank account eventually and it's easier to set up than for an adult with all the security and nationality checks nowadays.You can no longer just walk into a bank and open an account. Last time I opened one I had to produce three household bills , and my passport. Bills are particularly a pain as so many are now online and no paperwork.

Many thanks, really helpful and plenty of food for thought.

I think different things work at different ages. My 17 year old has a bank account because he’s mature enough to be able to manage it without me looking over his shoulder. My other two aren’t so I need to be able to control what they spend and where. I can block temporarily. I can disallow internet expenditure. Limit how much they spend in a week - this works particularly well if you have a child who wants to but roblox points or whatever they’re called. They get paid weekly and once it’s gone, that’s it. If they want something that costs more than their weekly allowance they can save for it. Opening a bank account for the eldest was straightforward. All done online as I recall? I do though open and keep any bank letters for him - partly just to keep on top of things and partly because he’d lose them!

Mine (age 14) also has a debit card. I put in an amount each month to encourage her to save and manage her money. I tend to buy things such as clothes etc and sweets (to monitor how much she has!). However, she is pretty sensible money wise and only has cash on her if she's away on a trip without me so doesn't get much chance to buy stuff without me approving it!