Gohenry Launches New Plus Membership Allowing Kids & Teens to Earn Interest on Their Savings

Personal Finance
21.11.2023 01:55 pm

GoHenry, the prepaid debit card and financial education app for kids aged 6-18, today announces the launch of its new Plus membership in the UK, giving kids the chance to earn interest on their savings.

GoHenry’s new Plus membership gives its young customers all the benefits of its Everyday membership, plus 1% cashback on all in-store spending, the ability to earn 4.5% AER variable interest on their savings and full access to over 80 of its award-winning, money lessons, Money Missions.

Louise Hill, co-founder & CEO of GoHenry said: “Experiencing first hand how interest works is a vital part of financial education and this is something we can now offer through the Plus membership. We are excited to be adding this to our offering and look forward to seeing how our customers make their money work harder!”

GoHenry’s latest research discovered that nearly half (49%) of UK kids and teens are not aware of what interest means, and more than half (58%) aren't aware that earning interest on savings is a form of passive income. With the launch of the new Plus membership, GoHenry is enabling kids to earn more and learn the value of saving. With full access to Money Missions, kids can also learn vital money skills. The price of the Plus membership is £4.99 per child per month.