Home Merchant cash advance Best Pocket Money Apps Chosen by Our Finance Expert

Best Pocket Money Apps Chosen by Our Finance Expert


Using the best spending money apps can be key in helping kids develop good money habits. In addition to helping them learn how to save money (opens in a new tab)pocket money apps can also encourage children to understand the importance of learning how to earn money (opens in a new tab) too.

Establishing good financial habits early in life can help your child succeed in the future, whether it’s helping them budget for their first home or teaching them how to improve their credit rating. (opens in a new tab)or prevent them from going into debt.

Financial expert, Michael Throckmorton of Merchant Cash Advance (opens in a new tab), told us, “You can now teach kids as young as four about the value of money by downloading a budgeting app. As physical money is used less, apps can be a much more modern and relevant way to show kids how to deal with their money in an accessible and easy-to-digest way. »

Best pocket money apps available right now

Below, we’ve outlined some of the best spending money apps, taking into account factors like cost, parental controls, savings and budgeting features.


GoHenry (opens in a new tab) is a prepaid debit card and app designed for children aged 6-18. The application is adapted to the age of your child.

Cost: £2.99 per month.

  • Parents have a companion app to help them track their kids’ spending habits and set spending controls.
  • Ability to set savings goals in the app and track progress.
  • Money Missions feature to teach your kids how to manage their money through quizzes and videos.
  • Set tasks for your kids and they get paid when the tasks are completed.

NatWest silver rooster

NatWest silver rooster (opens in a new tab) is a parent-run pocket money app and card for kids ages 3-17. There are different accounts for different age groups and the monthly cost varies accordingly.

Cost: Core features are free, then up to £1.99 per month.

  • Parents can set allowances and track children’s expenses.
  • Ability to set savings goals, as well as an interest rate on children’s savings pots.
  • Set chores for your kids to do to unlock their allowance.
  • Set up regular payments to develop budgeting skills.

HyperJar Kids

HyperJar Kids (opens in a new tab) is a prepaid card and budgeting app designed for kids ages 6 and up. It lets your child manage their money in digital jars, with each jar serving a different purpose, like going out or new clothes.

No cost

  • All children’s potties are shared with a parent so you can see where the money is being spent.
  • Parents can set jar spending limits and block account spending.


Revolution (opens in a new tab) is designed for ages 6-17. It is a prepaid card and app and is linked to an adult Revolut account, so parents must already be a Revolut account holder.

Cost: There are four different pricing plans to choose from up to £12.99 per month, including a free option.

  • Kids can complete tasks and challenges to get paid.
  • Set savings goals and track progress through the app.
  • Parents can set spending limits and control where the card can be used.

Starling kite

Starling kite (opens in a new tab) is an app and prepaid debit card that allows you to load pocket money, track your expenses and encourage savings. It is designed for children from 6 to 16 years old. There is a separate account for 16 and 17 year olds.

Cost: £2 per month per card.

  • Parents can track spending and set spending limits, as well as where the card can be used.
  • No charge for card spending abroad.

How do pocket money apps work?

Pocket money apps are simply money management tools that can help kids learn how to save and spend money wisely. Parents can transfer money to their children electronically, and children can then spend using their debit card.

Salman Haqqi (opens in a new tab), personal finance expert at money.co.uk, says: “Intuitive layouts and robust security features allow parents to safely manage their children’s pocket money online. While you can set spending limits, a huge plus for parents is that you can also track your child’s spending in spending money apps, often receiving real-time notifications.

Are pocket money apps safe?

Pocket money apps are generally safe to use, but most of them are classified as e-money or “e-money” accounts and do not offer protection under the Financial Services Compensation Scheme (FSCS). ). The exception is Starling Bank which has a UK banking license and offers FSCS protection of up to £85,000 per person.

Mat Megens (opens in a new tab)Founder and CEO of HyperJar, told us, “Pocket money apps generally work with financial institutions regulated by the Financial Conduct Authority (FCA), if the institution is based in the UK. Pocket money accounts are usually kept in separate, demarcated accounts with major banks.

This means that if the provider goes bankrupt, you should still get your money back.

How can pocket money apps help teach kids about money?

Pocket money apps can be a great way to give your kids financial independence, while still maintaining an element of control over their spending.

Mat Megens of HyperJar says, “It’s important for children to get used to the digital world from an early age, learning to manage their money virtually as well as with physical coins and notes. Look for pocket money apps that make budgeting intuitive and fun – most children learn visually and prefer to develop good habits without noticing.

“Another important feature of these apps is that they should make budgeting and money management a family affair – talk to your kids about how they will spend and save their pocket money.”

How much pocket money should I give?

How much pocket money you give your children is ultimately up to you. But it’s worth considering factors like your child’s age, how much you can afford as a family, and what you expect your child to use the funds for.

Louise Hill (opens in a new tab)co-founder and COO of GoHenry, says: “It doesn’t matter how much you give – it can be as little as pennies – but paying regularly opens up the subject of money and gets kids thinking about the key pillars of money management: spending, saving, earning and giving.”

The table below shows the average amount of weekly pocket money by age, as shown by data from the latest GoHenry Youth Economy Report. (opens in a new tab).

Age Weekly average
seven £3.52
8 £3.75
9 £4.12
ten £4.58
11 £5.34
12 £6.49
13 8,09 €
14 £9.70
15 €11.34
16 13,32 €
17 £14.52
18 €14.79

The age at which you start giving your child pocket money is also up to you and what works best for your family.

Tommy Gallagher (opens in a new tab)founder of digital banking site Top Mobile Banks, told us: “Some parents think children as young as four can be trusted with little money, while others expect their child to be older. older and more responsible Ultimately, the best way to determine when your child is ready for spending money is to talk to him and watch how he handles money in general.