Looking for a solid Greenlight card review that’s gonna tell it like it is?
You want to know…is Greenlight safe?
Is it legit?
We’ve got those answers along with a full Greenlight debit card review that’ll cover everything you need to know and more.
Whether you’re trying to help teach your child(ren) responsible skills to manage their money, an easy way to pay allowance without using cash, or you simply want to have some sort of parental control when your kids spend money, Greenlight is a great app to check out.
And their debit card is fantastic!
Let’s dive into the review 🙂
How Does Greenlight Work?
So, how does the Greenlight debit card work?
Well, it’s really quite simple.
Once you’ve set up your account and linked it to your child’s debit card, you’ll be able to manage their finances from your own account.
You can add or remove funds, approve or disapprove transactions, and more.
Plus, there is an app that lets you keep track of what your child is spending money on as well as set parental controls for things like merchant types, purchase amounts, and more.
Pretty great, right?
Having a Greenlight account is a fantastic way of teaching kids about the idea of having a bank account and learning how to responsibly spend money, save money, manage money in general, etc. with the training wheels of parental controls and spending limits.
Yay for raising financially smart kids!
5 Factors to Consider: Greenlight Card Review at a Glance
When looking at Greenlight debit card accounts at a glance, there are a few major factors to consider, including cost, ease of use, customer service, features/services, and tools/resources.
How do these app features stack up to expectations?
Let’s find out.
One of the best things about the Greenlight debit card is that there are no fees (yes, no monthly fee) and no minimums!
So, whether you’re depositing $1 or $100,000, there won’t be any charges.
Plus, there’s no charge for having the card itself!
Is there a monthly fee though?
What about an annual fee?
This is definitely a plus, especially when compared to other debit cards and accounts for kids which can have fees attached.
Ease of Use
Is Greenlight easy to use?
The answer is a resounding YES!
The app is user-friendly and easy to navigate, and the debit card itself is just like any other debit card.
There are no special requirements or hoops to jump through in order to get started.
Simply download the app, enter some information, and you’re ready to go.
Plus, customer service is available 24/7 should you need help with anything.
This is another area where Greenlight really shines.
Their customer service is friendly, helpful, and available 24/7.
You can reach them via phone, email, or chat, and they’ll be more than happy to help you with whatever you need.
Features and Services
What types of features and services does the Greenlight app (and Greenlight card) offer?
Here’s a quick rundown:
- Add funds to your child’s debit card
- Approve or disapprove transactions
- Set parental controls for spending and merchant types
- View account history and balance
- Receive real-time notifications for approved and disapproved transactions
These features are super helpful for parents who want to have a little more control over their children’s spending.
Tools and Resources
In addition to the features and services listed above, Greenlight also offers a variety of helpful tools and resources to its users.
These include things like eBooks, articles, videos, podcasts, etc. on topics like budgeting, saving money, investing money, and more.
This is a great resource for parents who want to learn more about financial education for their kids.
Who is Greenlight Best For?
Greenlight is good for a lot of people – kids, parents, and even grandparents!
Kids can use it to learn about responsible money-management skills while still having some independence when it comes to their own spending.
Parents can use it to keep track of their children’s spending and approve transactions (or not).
And grandparents can give allowances or gifts easily and without the hassle of cash.
So, pretty much everyone can benefit from using Greenlight!
How to Get Started with Greenlight
Getting started with Greenlight is pretty simple.
First, you’ll need to download the app.
Then, you’ll need to create an account and link it to your child’s debit card.
Once you’ve done that, you’re ready to go!
It’s as easy as that.
Now you can mess around with the various features of both the Greenlight app and the Greenlight card, set spending limits, connect another financial institution if needed, set up a direct deposit, etc.
11 Noteworthy Greenlight Features
There are a lot of awesome features to look at with this Greenlight card review.
It’s a pretty awesome service!
This debit card for kids is set up with some pretty sweet functionality, and with the capability to attach a parent account to child accounts for up to five kids, it’s one of our absolute favorite programs out there for kids’ debit cards.
These are our favorite noteworthy features.
Customized Prepaid Debit Card
The Greenlight debit card is customizable!
Parents have the option to choose from a variety of colors and designs for their child’s card.
This is a really fun feature that lets kids feel like they’re part of the process.
You can have up to five children per account, so each kiddo can have their own unique personality reflected in the cards you choose.
Greenlight also allows parents to set parental controls for spending and merchant types.
This means that parents can dictate what types of stores their children are able to make debit card purchases at and how much money they’re able to spend in a day, week, or month.
This is super helpful for parents who want to be more hands-on with their children’s spending.
The Greenlight app has something called savings rewards built-in, which is really cool.
For every $2 that their child saves, they’ll earn a $1 cash bonus reward.
This helps to incentivize good money-management skills and provides a little reward for kids who are working hard to save their money.
After all, learning about successfully managing a savings account is just as important as a checking account (or maybe even more so!).
Most prepaid debit cards don’t have such savvy features like savings rewards, so this one is most definitely noteworthy.
Real-Time Transaction Notifications
Greenlight also offers real-time notifications for approved and disapproved transactions.
This is a great feature because it gives parents the ability to keep an eye on their child’s spending no matter where they are.
If there’s ever a question about Greenlight card purchases, a notification will provide all the answers.
You can’t go wrong with that!
What does Greenlight do with allowance automation?
This nifty feature allows parents to automatically deposit a set amount of money into their child’s account on a recurring basis.
So, if you want to give your kid an allowance every week, you can do that without any hassle!
All the money will be deposited right into their Greenlight account and they can start spending away.
Especially if you’re utilizing that maximum of account attachments up to five kids, making that process more seamless & simple can be a big time saver.
Just like a regular bank account, this child account has access to set up direct deposit.
This means that if parents have a regular paycheck that they want to deposit directly into their child’s account, they can do that without any issue.
This is really helpful for kids who are just starting to learn about money and how it works.
All the details of the transaction will be handled right through Greenlight, so parents don’t have to worry about anything.
Identity Theft, Phone and Purchase Protection
The Greenlight card offers identity theft protection along with cell phone protection and purchase protection as well.
So, if your child ever loses their card or has it stolen, Greenlight will work to help get a new one issued as quickly as possible.
If there are any unauthorized charges on the card, Greenlight will also help to get those taken care of.
That’s a big reassurance for parents!
Identity theft protection is a big deal with any bank account, but especially so with a checking account such as this, that’s meant to teach kids the value of money.
The same can be said of both purchase protection and cell phone protection, especially with kids calling the shots with their Greenlight purchases.
Instant Money Transfers
How does the Greenlight card handle money transfers?
This account allows for instant money transfers between the card and the app.
This is really helpful for parents who want to be able to quickly move money into their child’s account, or for kids who need to access cash in a hurry.
It also makes splitting expenses a lot easier!
The Greenlight card offers something very useful called round-ups, which are perfect for kids who are just starting to learn about money.
What this does is take all of the purchase amounts and round them up to the nearest dollar.
The extra change is then deposited into the child’s account, which helps to teach them about saving money bit by bit.
It’s a great way to get kids started on good money habits!
This is similar to many savings rewards features offered on regular adult cards/bank accounts, but seeing it featured on a kids’ debit card like this is such a great idea.
They can learn to save money and even set monthly savings goals based on their own income and spending limits.
The Greenlight card has another feature that’s pretty cool, called chore plans.
What this does is allow parents to assign specific chores to their child and then set a corresponding dollar amount that will be deposited into the child’s account when the chore is completed.
This is a great way to incentivize good behavior and help kids learn about responsibility.
They’ll be excited to complete their chores in order to get some extra spending money!
This is a really neat feature that can help teach kids the value of hard work.
As they complete more chores, they’ll be able to add more money to their account.
It’s a great way for parents to keep track of what their child is doing and also teach them about money at the same time.
Greenlight + Invest
The Greenlight card has an investing feature!
This is probably the only prepaid card or kids’ debit card (or one of the only ones at least) that offers something like this.
Greenlight invest is a great way for kids to get started in the world of investing.
It’s perfect for those who are just starting to learn about money and want to see how it can grow over time.
The best part is that the minimum investment is only $5, so it’s a very accessible option.
This is a great way to get kids interested in finance and investing at a young age!
How Does Greenlight Invest Work?
The Greenlight invest feature works by allowing kids to select stocks that they’re interested in.
Then, the app will help them keep track of how that stock is doing and provide information about what it means to invest in it.
Kids can learn a lot from this feature, and it’s a great way to get them started on their financial journey.
As they continue to learn and grow, they can slowly start investing larger sums of money into different stocks.
It’s a great way for them to see how their money can grow over time!
This is an excellent investment option for kids and one that they’re likely to enjoy.
How to Get Started with Greenlight
Getting started with a Greenlight card is pretty simple, with a quick signup process for the parent account and up to five kids.
It really just boils down to checking to make sure you’re eligible, entering the required information, attaching some funding options, and waiting for your card to come in the mail.
What do I need to be eligible for a Greenlight debit card?
In order to be eligible, you’ll need to be a resident of the United States and have a social security number.
The child cardholder must also be under the age of 18.
Pretty simple qualifications overall!
What type of information is required to open a Greenlight account?
In order to open an account, you’ll need to provide your name, address, email, and password.
For the child cardholder, you’ll need to provide their name and date of birth.
Pretty standard stuff.
How do I attach a funding option to my Greenlight account?
There are a few different ways to do this.
You can add a bank account, debit card, or credit card.
How long will it take to get my card?
Once you’ve received your Greenlight debit card in the mail, it’s time to start using it!
How long does it take to receive these prepaid debit cards?
The Greenlight debit card will arrive within 7-10 business days after signing up, just like most debit cards.
It’s important to note that you’ll need to have your child’s social security number handy in order to sign up for the card.
So overall, it’ll take about two weeks from start to finish to get your Greenlight debit card.
This is a relatively quick process, especially compared to some other debit cards/banks.
Greenlight Debit Card for Kids: Pros & Cons to Consider
There are pros and cons to consider with every app or program out there.
When it comes to debit cards made especially for kids, we typically take extra care in weighing out those pros & cons before diving in to make sure it’s worth it and safe.
Here are some of the top pros & cons of Greenlight.
Is Greenlight Safe & Legit?
Is Greenlight safe?
Yes, Greenlight is a safe and secure way for parents to manage their child’s finances.
The app has multiple layers of security, including a password-protected account and daily spending limits.
Plus, the card itself has fraud protection just like any other debit card.
Is Greenlight legit?
Yes, the company is fully licensed and regulated by the Consumer Financial Protection Bureau (CFPB).
So parents can feel confident that their child’s money is in good hands.
Overall, both Greenlight safety and legitimacy are confirmed.
High points of Greenlight include:
- Parents have control over their child’s spending by setting daily spending limits and viewing all transactions in real-time
- Funds can be easily transferred to the card from a bank, which makes reloading quick and easy
- The app is very user-friendly and easy to navigate
- No fees are associated with the card itself (though some ATM operators may charge a fee)
Cons of Greenlight include:
- The card cannot be used internationally
- There is a $2 monthly fee if you want to use the Greenlight app (which is optional)
- Some ATM operators may charge a fee for using their machines
Is Greenlight Worth It?
After taking a look at all of the features of these prepaid debit cards and weighing the pros & cons of the service, is it worth it?
Is Greenlight worth it?
Absolute yes, we surely think so!
At the end of the day though, that’s ultimately up to the individual family.
Some parents may find the convenience and peace of mind of being able to track their child’s spending worth the monthly fee, while others may not need those features and find other cards with no fees more advantageous.
It really depends on what you’re looking for in a debit card.
Overall, though, Greenlight is a legitimate and safe service with many great features to offer.
Troubleshooting Your Greenlight Debit Card
Why is My Card Being Declined?
What reasons would there be for your Greenlight card to be declined?
There are a few potential reasons:
- Insufficient funds in your account
- The card has been reported lost or stolen
- The merchant is not accepting prepaid cards
- Out of network ATM
If you’re experiencing any of these issues, we recommend reaching out to Greenlight customer service for help.
How to Reach Customer Service
The options for reaching Greenlight customer service include:
- Phone: 1-844-574-2552
- Email: [email protected]
- Twitter: @AskGreenlight
- Facebook: /askgreenlight
We recommend trying Twitter or Facebook first, as those actually tend to be the quickest ways to get help.
If you’re having trouble with your card, don’t hesitate to reach out for assistance, as they are super helpful!
3 Great Greenlight Alternatives
Greenlight not totally your thing?
There are other similar apps (with prepaid cards like this) that aim to teach kids about the value of money.
Here are 3 of our favorite Greenlight alternatives to check out.
Cash App (Ages 13+)
Cash App just recently opened up their awesome money management accounts to ages 13+ and it’s awesome!
Their prepaid card is customizable, they allow ATM withdrawals, direct deposit, the ability to transfer money, and other ways to manage their own money similar to Greenlight.
While they do have an investing feature, it is not accessible within the youth plan (only 18+ can access it).
There are, however, no monthly fees.
Current is a banking account aimed at teaching kids about money, saving, and spending.
They offer a prepaid debit card (that can be used anywhere), which parents can manage and receive notifications of all transactions in real-time.
There is no monthly fee, but you must have a Current account to get the card.
They offer similar features such as direct deposits, simple transfers, etc.
BusyKid is an all-in-one money app for kids that covers allowances, chores, and banking.
One of the coolest features of this app is that it offers a prepaid debit card just like the Greenlight plan.
Kids can use their BusyKid funds to buy things in the real world or online.
There is no monthly fee, but you do have to pay $3.99/month if you want to give your child an allowance through the app.
James Allen is a Certified Financial Education Instructor (CFEI), financial advisor, and Certified Public Accountant (CPA).
He created BillPin to give people the financial tools they need to make more informed financial decisions.
After listening to his mother tell stories about her frugal upbringing and his own experiences working as a financial advisor for almost two decades, James is on a mission to help people change their relationship with money.
Content Disclaimer: Opinions expressed here are the authors alone, not those of any companies mentioned, and have not been reviewed, approved, or otherwise endorsed by any of these entities.