Greenlight Card Review
Personal finance literacy is the knowledge that should be gained from childhood and most modern parents understand this. This is what has concluded some businesses as well. Thus, let’s check the GreenLight Card review, a solution to teach children and teens to use their money wisely.
What is Green Light Card
This is an educational money app for kids with a debit card. This app allows kids to earn money through chores and spend it wisely. Moreover, kids can set savings goals and invest what they have earned.
At the same time, it allows parents to control how their kids spend money.
Greenlight partners with Community Federal Savings Bank, a member FDIC that holds and manage all your deposit and debit card. All Green Light accounts are FDIC insured.
The card is best for 9-17-year-old users but it has no age limits.
Green Light Card Features
Here are the main features of the card:
- Automatically transferring allowances to kids’ accounts
- Instant transfers to kids’ cards
- Real-time transaction notifications
- 1% cashback to save on every purchase
- 2% rewarding smart money management
- Balance tracking and ATM parental controls
- Selecting stores where kids are allowed to buy
- Personal savings goals and tracking their progress
- Switch card on or off from the app
- Direct deposit
Greenlight card designs
You can choose a photo of your children on their card, a drawing or a standard green-colored card.
Greenlight card customer service
You can contact customer service via email@example.com or call them at 1-888-483-2645.
Their customer service doesn’t seem to be very helpful and many clients say they have bad English.
The company has three pricing plans. All three options include debit cards for up to 5 children and an educational app. All plans offer core tools for saving, spending, and earning as well as giving parental controls.
- Greenlight, $4.99/month: Includes basic features listed above; kids earn 1% on savings.
- Greenlight + Invest, $7.98/month: Basic features; kids learn to invest; kids earn 1% on savings.
- Greenlight Max, $9.98/month. Basic features; kids learn to invest; kids earn 2% on savings and 1% cashback on purchases; identity theft protection and cell phone protection.
Green Light Card Reviews
“A great way for grandparents to give grandkids money”
“Awesome way to teach children about working for their earnings, as well as, savings and investments!”
“My son saved and spent over $200 in school clothes back in July. He did not receive some of his items. After contacting the vendor and getting no response, I called Greenlight. Greenlight has been TERRIBLE.”
“I’ve been using Greenlight for my 14 year old for a few months now, and it’s been very helpful. The chore schedules are simple to use and understand, and my son can use his debit card for purchases, save and make his own financial decisions. The chores occasionally need to be refreshed, which isn’t hard, but it’s a tad bit annoying occasionally. I’m sure it’s a software glitch that’ll get worked out.”
“They won’t tell you about the $3.99mo fee you have to pay until AFTER you signup.”
“So many good things, need serious work on chores. Despite all the great features and usability, the fact that weekly chores are so manual, we are considering dropping the whole app.”
Greenlight Card Alternatives
Greenlight Card vs BusyKid
BusyKid is one of the main alternatives to Greenlight as they have almost the same features:
- Prepaid debit card for kids
- Allowance tracker
- Customizable chores
- Allowance payout
- Investment in stock
The last option is included in the plan while Greenlight offers it at additional cost.
BusyKid is a bit cheaper option as it offers its card at $38.99 per year or $3.99 per month per family.
Additionally, there is Chase First Banking, a free alternative powered by Greenlight. However, parents must have a Chase checking account to open this account for their kids. Moreover, there is a free alternative Step that also offers card and app for teens.
The price is from $4.99 to $9.98 per month.
Yes, you need to pay before getting the card.
Greenlight partners with Community Federal Savings Bank.
Greenlight blocks ‘unsafe’ spending categories and provide additional layers of protection to our families in the form of face or fingerprint recognition.
No, there is no age limit but the average age is 9 to 14 years old.
To do this, fill out their cancellation request form here and or do this by phone.
The Greenlight support can be reached at (888) 483-2645.
Sign up online, fill in your personal information, and wait for verification.
It can be done by connecting your bank account or debit card to the Greenlight app.
Money can be transferred from the kid’s account back to the parent’s wallet and then, funds can be transferred to the parent’s bank account.
Yes, your kid can withdraw money at an ATM.
Open the card management page by clicking on the debit card icon next to “Manage Card” and selecting “Activate a new card.”
No, you cannot directly send the money from your Venmo account to your Greenlight card. But you can do this through your bank account.
It can be because you have a Spend Control set for that particular store or category.
Is Greenlight card worth it
Yes, the card is a good option for kids to learn how to spend money and invest. It’s a good option for parents to teach their children personal finance while controlling their spending.
We hope our Greenlight Card review was useful!
Disclosure: Self-Starters team has not received any compensation from Greenlight or anyone else associated with the company for this review. However, this review contains affiliate links, which means that, if you click & purchase from these links then, we will receive a small commission. This commission helps us to maintain this website. But you don’t pay anything extra.