Iāve moved both my kids to Monzo now from GoHenry. Only to discover you donāt offer interest on children savings pots! Unlike every other comparable product.
Can you please consider doing it? Itās a huge disadvantage of using Monzo under 16s right now.
They could have easily added interest if they wanted to.
If itās important to you then go elsewhere. It wonāt come anytime soon, if at all.
while Iād like to see this too, itās worth pointing out that Rooster Money doesnāt offer interest either.
You also have to pay Ā£5.99 per month per child to get 3.92% AER with GoHenry - so thatās something like Ā£1800 in savings to break even with the fee (or Ā£3000 split across all children if youāre on the Ā£9.99 family plan). Monzo for U16s is free.
Ok. Iāll bite. Please list every other comparable product.
Starling Bank - Until 23:59:59 on 9th Feb 2025
Revolut<18 - No interest
HyperJar - No interest
NatWest Rooster Money - No Interest
GoHenry - Yes, but for Ā£5.99 per MONTH, per CHILD.
Itās not a very good lesson to teach, signing up for a financial product and moving over to it, without even doing basic research first.
Nowhere does it say interest would be payable.
Are you able to easily go back to GoHenry?
Just do what I do and pay the interest yourself. I wish Monzo paid interest on U16 savings pots but they donāt, so since teaching about interest is important to me I talk to my kids about it and I pay 1% of everything they have in savings pots each month on the 1st. (nearly 12.7% interest rate theyāre getting!)
I also match pound-for-pound what they put in there to encourage them to save more. My daughter even asked to increase her savings rate last week for a big upcoming trip, which I count as a huge win!
Please can I open an account with you? 
Nationwide pay quite decent interest on FlexOne and the linked savings account until they are 23. They also get their own account number. Free too. Oh, and they are eligible for the fair shares payment so potentially Ā£100 free money per year.
I know 
- I take full advantage of that.
NatWest/RBS/Ulster gives 2.35% on the current account balance, with no maximum limits.
However, I was going off the assumption that OP was talking about prepaid/linked childrenās accounts.
11-17 only though. Monzo (and GoHenry and Rooster) are 6+.
Of course many savings accounts (some with decent interest rates) are available for children of any age, but generally not linked to a ācurrent accountā with a debit card.
HSBC MySavings is decent, and can be opened 7+. Doesnāt include a debit card / current account though.
Indeed. I wouldnāt be wanting to pay Ā£6/month, or indeed anything, for one of them though.
Oh absolutely. And Iām honestly shocked that GoHenry is still surviving when multiple free options exist (Starling, Monzo, Revolut, HyperJar, Rooster)
Just invited MrsW to access JrWās card. Nice invite flow on both sides - good job 
I have just got an invite to open an U16 account for my son, which I have done, and was surprised to see my wife couldnāt see his card/balance as we have a joint Monzo too. I then realised it is linked to my personal account so that is why.
I have stumbled upon this post but realise it is too late to fill in the form and gain access. Is there an ETA for the rollout of this feature?
Theres still time
Thanks for all your feedback and bug reports on our additional family members feature so far. Weāve now enabled more of you to test - follow these instructions to get set up 
Wife got setup with my kids account. Very smooth including directing to update the Monzo app.
Nice notification to see that sheās accepted too.
We do this quite a lot too - cash as already mentioned and also online shopping. If the kids are too young to set up an account in their own name, I will buy what they want and deduct the money from them. Also, they donāt have their cards on them all the time so I sometimes have to use my card for an impulse purchase they want to make and then remove from their account.