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Best Pocket Money Apps UK

There are now several pocket money apps available, designed to help teach children how to manage their finances. I’ve taken the time to look at each one, including the cost, features, and pros and cons, to identify the best pocket money apps available to parents.

Pocket money apps have made keeping track of children’s allowances and cash flow quick and painless, as well as providing a means for children to spend their money in a safe and controlled way. In their simplest form, they are a digital piggy bank, and in a world where all banking is moving online, these apps may be providing children with an invaluable education on how to manage their finances as adults as well as providing families with a convenient way to manage pocket money and encourage savings.

List of best pocket money apps UK

In my list below you will find the best pocket money apps available for those based in the UK.

GoHenry Logo

GoHenry

  • £2.99 per child
  • Comes with a pre-paid card
  • Includes a stocks and shares ISA
Revolut Junior logo

Revolut Junior

  • Free version available
  • Good parental controls
  • Ability for more than one parent to manage the account
Nosso logo

Nosso

  • Can be managed by more than one parent
  • Great customer support
  • Comes with a unique link for family and friends to contribute
Starling Kite logo

Starling Kite

  • Free transfers in
  • Good range of parental controls
  • Ability to set automatic transfers for weekly pocket money
Rooster Money logo

NatWest Rooster Money

  • £1.99 p/month
  • Set and track chores
  • Good parental controls

What is a Pocket Money App?

A pocket money app acts much like a first bank account for a child however, it is usually linked to a parent account for instant notifications on transactions and spending limits, and often comes with a prepaid debit card with restrictions on where the child can spend their money. These apps provide a means from which to pay your children pocket money and can effectively act as a savings account although you won’t usually get interest. More often than not, they come with an adult app, whilst children have their own app from which to view their spending history and balance.

Which Pocket Money App is Best?

I’ve compared the costs and services of most of the major online children’s accounts available to UK residents so you can make an informed decision as to which of the money management apps would be best for your family.

GoHenry: Best for range of tools and features

GoHenry Logo

GoHenry

GoHenry was the winner of Best Children’s Financial Provider 2021 at the British Bank Awards and they definitely have a decent range of tools and features to help children learn good financial habits. The major concern for parents considering GoHenry is the higher than average monthly fee.

Revolut Junior: Best for low cost and spending abroad

Revolut Junior logo

Revolut Junior

For people looking for the lowest cost option, Revolut Junior comes with a completely free version that can be accessed for one child and allows parents to pay in pocket money whilst providing a debit card for the child. It is also one of the most cost-effective ways of spending money abroad.

However, to unlock some of the more advanced features, or to open a Junior account for more than one child, there is an associated cost. In addition, the limit of £40 per month for free ATM withdrawals may be prohibitive for older children.

Nosso: Best for investments

Nosso logo

Nosso

Nosso is a different offering from the other children’s apps on this list as it is specifically designed to help parents save and invest for their children’s future. Anyone can contribute to the child’s investments, however, there is no payment card with this solution as it is not intended as an account.

Starling Kite: Best for Starling account holders

Starling Kite logo

Starling Kite

If you are one of the 2.7 million people who already have a Starling current account, then Starling Kite is the most obvious choice for you. You can open a Kite account in minutes from your own Starling bank account.

Rooster Money – Best for younger children

Rooster Money logo

NatWest Rooster Money

The free version of Rooster money is ideal for very young children who are gaining a grasp on the basics of managing their own money. Whilst the free version is only virtual, this can provide a means of keeping track of your child’s pocket money and help develop good money habits.

Pocket Money Apps Comparison Table

  Age Cost (per month) Extra accounts Child’s app Top-up fees
GoHenry 6-18 £2.99 £2.99 Yes 50 pence
Revolut Junior 7-17 Free up to £12.99 Yes None
Starling Kite 6-16 £2 £2 No None
Osper 8-18 £2.50 £2.50 Yes 50 pence
NatWest Rooster Money 6-17 Rooster PLUS: £14.99 p/yr or 99p p/month
+ 1 month free trial.
Rooster Card: £19.99 p/yr or £1.99 p/month
+1 month free trial
£1.99 Yes 50 pence
HyperJar 6-17 Free Free No None
nimbl 6-18 £2.49 £2.49 Yes None

Online business bank accounts FAQs

Is there a free alternative to GoHenry?

Yes, Revolut account holders can access Revolut Junior for free although you won’t get the same level of features that you can access at GoHenry. Rooster also has a free virtual account that can help keep track of your children’s pocket money.

Can a 12-year-old have a debit card?

Absolutely, children aged as low as 6 can access a prepaid kids debit card which can be used to spend the money in their children’s bank accounts. Kids prepaid cards are an excellent way to introduce children to money management without the risk of them going overdrawn.

Which money app is the best?

This depends on your requirements. GoHenry seems to be loaded with the most features and educational content however, it is also the most expensive option available. For parents who already have a Starling or Revolut account, the obvious choice would be the Kite or Revolut Junior children’s bank account. Revolut Junior is also an excellent option for spending money abroad.

I recommend GoHenryOpen an account