When it comes to prepaid debit cards for teens and kids, there are few brands as well known as Greenlight card. From its low monthly fee, to its feature-filled product offering or its ease of use, Greenlight is a great option for parents looking to teach their children about responsible financial habits and how money works in the real world.
However, just because Greenlight stands atop the debit card for kids market doesn’t mean it is always your best choice. Other prepaid cards offer similar features at different price points better adjusted to your needs and situation. So, if you don’t want your child using a Greenlight card right out of the gate, there are several Greenlight alternatives that might be better suited to your needs!
In this article we’ll take a look at some of these alternatives to Greenlight and help you decide which is best for your family.
Best Greenlight Alternatives—Top Picks
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Best Free Teen Checking Account
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Best Debit Card for Customer Service
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Paid Debit Card for Kids + Teens
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4.4
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4.4
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4.4
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Free (no monthly fees).
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Free 30-day trial. Acorns Early: $5/mo. for 1 child. $10/mo. for 2-4 children. Acorns Gold: $12/mo., includes Acorns Early for up to 4 children.
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30 days free. Copper: $4.95/mo. Copper + Invest: $7.95/mo.
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What Are the Best Greenlight Alternatives to Consider?
Below, we’ve compiled a list of the best alternatives to Greenlight that should work for your needs. Not all are prepaid or paid card options, so look at each and compare which one makes the most sense for your needs.
| App | Best For | Fees | Promotions |
|---|---|---|---|
 Capital One Teen Money | ☆ 4.8 / 5 Free kid checking account from a big bank | Free (no monthly fees) | None |
 Acorns Early | ☆ 4.7 / 5 Accessible customer service support | Acorns Early: $5/mo. for 1 child. $10/mo. for 2-4 children. Acorns Gold: $12/mo., includes Acorns Early for up to 4 children. | Free 30-day trial + $5 allowance upon signup |
 Copper Banking | ☆ 4.9 / 5 Kid financial independence | Copper: $4.95/mo. Copper + Invest: $7.95/mo. | Free month trial |
 FamZoo | ☆ 4.5 / 5 Financial literacy resources | $5.99/mo. per child | Free month trial |
 Axos First Checking | ☆ 4.7 / 5 Teens ready to learn about money management | Free | None |
 Current | ☆ 4.8 / 5 Innovation and product features | Free | None |
| *Apple App Store Rating as of June 24, 2024 | |||
1. Capital One MONEY (Best Free Teen Checking Account)
- Available: Read our review and sign up
- Price: Free (no monthly fees)
Capital One MONEY Teen Checking is one of Young and the Invested’s top choices for parents who want to financially empower their kids at an early age. Yes, this free checking account is predominantly aimed at teenagers, but it’s actually available to kids as young as 8 years old.
This joint checking account offers flexibility for kids and a touch of tranquility for parents. Kids get a Mastercard debit card that they can use at millions of merchants across the U.S., as well as in roughly 210 countries and territories worldwide. Your teen also enjoys access to one of the largest fee-free ATM networks among kids debit cards—more than 70,000+ Capital One, MoneyPass, and AllPoint machines. They can also send and receive money via Zelle, receive direct deposits from employers, and even cash paper checks by snapping a couple photos within the highly rated Capital One app.
Parents, meanwhile, can also pay their kids a regular allowance, or make one-time payments as gifts or rewards. They also can monitor their teens’ transactions, lock and unlock their child’s card, and control their kid’s access to (and transfer limits within) Zelle.
To learn more about the account, read our Capital One MONEY Teen Checking review. Or you can sign up today by clicking “Get Started” above.
- Capital One MONEY is a full-fledged money management account that comes with both a debit card and a highly rated mobile app.
- Boasts one of the largest nationwide fee-free ATM networks, which currently stands at more than 70,000 machines nationwide.
- Security features include monitoring tools and easy card lock/unlock.
- Age requirement: 8+ with a parent-sponsored account
- APY: 0.10%
- Minimum deposit: None
- Minimum balance required: None
- Free account and card
- Access to 70,000+ fee-free ATMs
- Access to Zelle
- Mobile check deposit
- Cash deposits
- Allowance
- Ability to migrate account to 360 Checking when minor becomes 18
- Sparse educational tools
- Few rewards or perks
2. Acorns Early / GoHenry (Best for Customer Service)
- Available: Sign up here
- Price: Acorns Early: $5/mo. for 1 child. $10/mo. for 2-4 children. Acorns Gold: $12/mo., includes Acorns Early for up to 4 children.
A longtime player in the kids’ debit card/financial app space has a new name and a new face: GoHenry, which was acquired in 2023 by Acorns, has officially become Acorns Early.
Many reviewers have long painted Acorns Early/GoHenry as just a way to spend. However, I see it as a real financial solution for minors—a debit card, yes, but also an app-based ecosphere that provides education and experience for the child, as well as ways for parents to keep their kids safe and teach them responsibility.
When you open an Acorns Early account, each child receives an Acorns Early Mastercard debit card that can be used anywhere Mastercard is accepted (so, millions of vendors). Not only can kids spend online and in stores, but they can also use their Acorns Early debit card to withdraw cash from ATMs. The standard Acorns Early debit card itself is included in the monthly subscription. However, your child can also choose to stylize their card with one of 35 different designs—most designs require a $5 one-time fee, though certain “limited edition” designs will be $6.
An Acorns Early account also allows kids to set savings goals, which they can fund manually or via autosave. And it also hosts educational materials to help children and teens alike develop good money habits. One of the more impressive aspects of the program is that it’s explicitly segmented into different age groups, starting with money basics for kids in single-digit ages, then becoming more advanced over time, so the lessons really appear to grow as your children do.
This FDIC-insured account also enjoys a variety of safety features, including chip and PIN protection, secure PIN recovery, and Mastercard’s Zero Liability Protection, which means your child won’t be liable for fraudulent purchases as long as they take care in protecting your card from theft and you promptly report any fraudulent activity.
Acorns Early also offers parents additional peace of mind by providing a number of controls, including:
- Real-time spending notifications
- Card lock/unlock
- Savings goal lock/unlock
- Adjustable spending limits on a per-transaction and per-week basis
- Card category block/unblock for in-store purchases, online purchases, and ATM withdrawals
- Adjustable spending block/unblock at stores that sell age-restricted goods such as firearms and alcohol
Also, kids can only spend whatever money is available on the card because it’s a prepaid debit card. That means parents don’t have to worry about costly overdraft fees or their kids running up a debt.
Acorns Early offers a number of ways to fund the account. Parents, of course, can send money in a pinch whenever they want with instant transfers. They can also set up a regular allowance, or tie payment to chores. (And parents get to approve chores before they pay out—no half-done dishes allowed.) Teens can also receive ACH deposits from their employers. And loved ones can either get “relative accounts” that allow them to send money to your kids, or they can send money via Acorns Early “Giftlinks,” which act similarly to an e-gift card.
GoHenry really stuck out to us as one of the best prepaid debit cards for kids because of its outstanding customer service. Good news there: Acorns Early users should expect a similarly high level of customer support, including seven-day-a-week phone service from 5 a.m. to 7 p.m. PT, as well as 24/7 live chat support.
Parents have two ways of signing up for Acorns Early:
- Signing up for an Acorns Early account for either one or two to four children.
- Signing up for Acorns Gold. Not only does a subscription come with a free Acorns Early account for up to four children, but you can also open an Acorns Early Invest account—a custodial account that allows you to invest for your kids’ future.
Acorns Early has no minimum age requirements but recommends starting at age 6 or older. Learn more in our Acorns Early review.
A note for current GoHenry users: For now, your app, features, and cards will continue to work as normal. However, if you want all of the latest features, you’ll need to download the Acorns Early app from the iOS App Store or Google Play.
- Acorns Early, formerly GoHenry, is a debit card and financial app designed to give young people (ages 6-18) education, experience, and confidence in saving, spending, and earning.
- Kids get a Mastercard debit card that allows them to spend in stores and online, and withdraw money from ATMs.
- Kids can also earn allowance, complete chores for money, set savings goals, even give to charity.
- Parents can rest easy knowing there are plenty of guardrails in place, including chip-and-PIN technology, Mastercard Zero-Liability Protection, and parental controls such as spending notifications, card locking, and adjustable spending limits.
- Acorns Early also provides educational resources tailored for kids of all ages.
- Acorns Early appears primed to keep up GoHenry's reputation for excellent customer service among kids' debit card providers, offering everyday phone availability and 24/7 chat support.
- Subscribing to Acorns Gold includes not only a free Acorns Early account for up to four children, but also Acorns Early Invest, a UGMA/UTMA custodial account where you can save toward your kids' future.
- Special offer: Get a free 30-day trial and $5 allowance when you sign up.
- Strong parental controls (including card-use controls and adjustable spending limits)
- Chores and allowance
- FDIC insurance
- Allows for ACH payments
- Convenient "Giftlinks" for non-accountholders to give money to kids' accounts
- Customizable cards ($5-$6)
- No investing feature
- No fee-free ATM network
Related: Acorns Early (Formerly GoHenry) vs. Greenlight
3. Copper Card
- Available: Sign up here
- Price: 30 days free. Copper $4.95/mo., Copper + Invest: $7.95/mo.
Copper Banking was founded on the belief that kids and teens should have equal access to financial education and should be empowered to learn by doing. Now, the company is on a mission to help children gain real-world experience by giving them access to their money in a way that traditional banks can’t.
The Copper app and debit card teaches your child how to make smart financial decisions by creating a platform where parents and their kids can connect. With the Copper app, you get easy snapshots of your accounts. And with the Copper Debit Card, it’s easy to shop in-store or online, including with Apple Pay or Google Pay.
Plus, users get exclusive access to engaging advice curated by a team of financial literacy experts who provide tips on how to take control of their financial future.
Copper Banking Features:
- Send/Request: Kids and parents can easily send and receive money all at the touch of a button.
- Spend: Spend using Apple or Google Pay, or using the Copper Debit Card.
- Withdraw: Access your money from more than 55,000 fee-free ATMs.
- Monitor: Get a snapshot of all your child’s spending in an easy-to-read dashboard.
- Save: Gain quick snapshots of your kid’s savings and helpful tips on how to save even more. Set up savings buckets and save for the things that you want.
- Learn: With the help of Copper’s team of financial literacy experts, gain bite-sized tips on how you can maximize your money and prepare yourself for your financial future.
The basic Copper account includes the above banking features. With Copper + Invest, your child also gets access to automatically curated smart portfolios built with their preferences in mind. Your child is given a questionnaire that helps Copper determine a portfolio based on their age, income, net worth, investment objective(s) and investment horizon. Copper then recommends one of three ETF portfolios—Moderately Aggressive, Aggressive, and Extra Aggressive—made up of thousands of stocks. Parents can review the portfolio to ensure it matches with not just your child’s preferences, but your family’s. (Portfolios can be changed later on by accessing the Support chat.)
Your child can begin investing for as little as $1, then add more contributions down the road. Copper will automatically rebalance the portfolio as needed to make sure it always keeps up with your child’s investment preferences.
Copper is available to kids 6 years and older.
Read more in our Copper Banking review.
- Copper is the digital bank and debit card for teens built with the mission of creating a financially successful generation.
- Send/Request: Teens and parents can easily send and receive money all at the touch of a button.
- Spend: Pay with a digital wallet via Apple Pay or Google Pay or use the physical Copper Debit Card.
- Monitor: Get a snapshot of all your spending in an easy-to-read dashboard.
- Save: Gain quick snapshots of your savings and helpful tips on how you can save even more. Set up savings bucks and save for the things that you want.
- Learn: With the help of Copper's team of financial literacy experts, learn more about how to maximize your money and prepare yourself for your financial future.
- Allowance administration
- Financial education resources
- Network of 55,000-plus fee-free ATMs
- No chores tracking or assignment
- No parental controls beyond notifications
Related: Best Banking Apps for Kids & Teens [Teen Banking]
4. FamZoo
- Available: Sign up here
- Monthly Fee: Free trial, then $5.99/month per family
FamZoo is another competing Greenlight service for parents interested in opening prepaid debit cards to manage their children’s spending.
It works by having parents release money into their child’s account and then having the card work with a loaded balance. Money can be loaded onto the cards at any time.
FamZoo acts like a regular checking account with a linked debit card except FamZoo makes sure the account can’t be charged an overdraft fee, saving you money.
Adults are able to monitor the transactions being made. After a free trial, this app costs $5.99 per month, but the price goes down if prepaid in advance.
FamZoo is our top education choice because of its strong financial education library which improves its overall value.
The product has no minimum age requirements, but recommends starting earlier than later.
- FamZoo is the prepaid debit card used by families to teach children good financial habits from an early age.
- FamZoo lets you fund your account in a variety of ways, including bank account, debit card, payment app, digital wallet, and cash.
- Many of the app's functions also have financial literacy in mind, including Parent-Paid Interest, parental loans, and reimbursements.
- Robust, customizable allowance and chores functions.
- Prepaid card without overdraft fees
- Highly customizable allowance and chores functions
- Strong financial education resource library
- High fee at monthly rate
- No paired investment account
- Weak parental controls
Related: Greenlight vs. Famzoo
5. Axos Bank First Checking (Best Free Greenlight Alternative)
- Available: Sign up here
- Price: Free
First Checking by Axos Bank is the ultimate starter checking account for teens which also comes with a debit card. The world of banking can be a little scary, but not with the simplicity and power of Axos’ First Checking Account.
The account competes with Greenlight by working as a joint account between a parent or guardian and their teen, allowing for easy-to-set, customizable parental controls with a debit card dashboard.
Parents and teens can manage almost every part of the banking experience through a convenient mobile app or through the online desktop portal. Perfect for modern families who always find themselves on the go.
The First Checking account from Axos Bank gives teens their first taste of financial independence by giving them their own checking account (which pays interest!) and free debit card for teens that has daily cash withdrawals limits of $100 and purchase limits of $500.
This provides safeguards against teens getting carried away with the money held in their account.
Further, you can have up to $12 of domestic ATM fee reimbursements per month, avoid any monthly maintenance, overdraft or non-sufficient funds fees—essentially making the account free!
The account carries the highest level of security through biometric authentication techniques like fingerprint readers, voiceprints and facial recognition (pending smartphone feature availability).
The product has a minimum age requirement of 13 and will convert to an Axos Checking Account after reaching the age of majority.
Read more in our Axos First Checking Account review.
- Axos Bank First Checking is a joint checking account targeted for teenagers ages 13-17 and their parents.
- Account holders get a Visa or Mastercard debit card that can be used to spend online or in person, or to withdraw cash at any ATM. (Axos provides up to $12 in monthly domestic ATM fee reimbursements.)
- No monthly maintenance, overdraft, or non-sufficient fund fees.
- The debit card's security features include account alerts, card locking, and daily transaction alerts of $100 (cash) and $500 (debit).
- Currently, you can earn up to 0.10% APY on any balance.
- Free (no monthly maintenance fees)
- ATM fee reimbursements (up to $12 per month)
- Converts to adult checking account after minor reaches age of majority
- No paired investment account
- No robust financial literacy resources
Related: Best Investments for Kids
6. Current
- Available: Sign up here
- Price: Free
Current is a banking app designed for all families. The Current app allows you to track your teen’s spending in real-time, set limits on how much they can spend, and even block specific merchants on Visa-enabled prepaid cards.
You also get the peace of mind that comes with knowing their money is safe because it’s not cash. Plus, the company doesn’t charge any fees or interest for student accounts so there are no surprises when bills arrive.
Current helps parents teach teens financial responsibility while giving them a way to learn without having cash around the house and all its temptations.
That means less worry for both parents and kids! With Current, your teenager will be able to do everything from paying friends back to buying groceries at the store–all safely with only her phone!
And teens will have the opportunity to learn financial responsibility and budgeting from an early age. This will allow them to grow their savings and move one step closer to financial independence.
The product has no specifically stated minimum age requirement, but the marketing points toward a Teen Account as the target audience. Therefore, you might be able to open an account below this age for your child.
Read more in our Current review.
- Current is a financial technology platform that lets teens enjoy not just traditional banking basics, but numerous features meant to simplify spending, streamline saving, and set them on the path toward more organized finances.
- Teens can spend with the Current Visa debit card, which allows them to purchase in-store and online, as well as withdraw money fee-free from more than 40,000 in-network Allpoint ATMs.
- Current Teen Accounts also come with Savings Pods, which earn 0.25% APY and allow you to round up purchases (overages are funneled into your savings).
- Parents can monitor their kids' spending, adjust maximum ATM withdrawal and spending limits, and even toggle spending categories (and the Current debit card itself) on and off.
- Parents can also automate allowance payments, pay for chores, instantly transfer money to their teens, and more.
- Free account (no monthly maintenance fees)
- Good parental controls
- Fee-free ATMs
- Cash reloads
- Gas hold deposits
- 24/7 email and live-chat support
- No direct deposit
- No paired investment account
- No card customization
Related: Best Debit Cards for Teens
What Are Prepaid Debit Cards for Kids?
A prepaid card is a type of payment card that can be loaded with funds in advance and then used to purchase goods or services without incurring debt from the issuer. The most common type of prepaid cards is a prepaid debit card (which acts like making bank account withdrawals when purchasing goods and services).
Prepaid cards for a child allow you to avoid non-sufficient funds fees or overdraft charges because they can only spend what they have on the card.
Related: How Old Do You Have to Be to Invest in Stocks by Yourself?
What Is the Greenlight Debit Card for Kids?
The Greenlight app offers a feature-filled financial platform meant to help parents teach their kids important personal finance skills and build useful money habits including how to save, earn, invest, spend and give money responsibly. The Greenlight app and prepaid card function as a purpose-built solution for families to learn about money through use of a prepaid debit card with parental controls, notifications and safety features.
Further, the Greenlight prepaid card and app offers a parent account for establishing chore plans and administering weekly allowance payments for successful completion of assigned tasks.
From there, parents can show their kids how to use the included investing platform (on a higher plan through Greenlight Max) to invest in stocks for kids and exchange-traded funds (ETFs). This can show real-life lessons of compound interest and encourage children to save and invest funds regularly.
- Greenlight is a financial solution for kids that allows them to spend with a debit card, earn money on savings, and even invest their money.
- Greenlight offers flexible parental controls for each child and real-time notifications of each transaction. And it's the only debit card that lets you choose the exact stores where kids can spend on the card.
- Parents can use this app to teach kids how to invest with a brokerage account through Greenlight Max and Greenlight Infinity plans.
- Families can earn 2% (Core), 3% (Max) or 5% (Infinity) per annum on their average daily savings balance of up to $5,000 per family. Also, Max and Infinity families can earn 1% cash back on their monthly expenditures.
- Unlike many apps that simply provide features and controls, Greenlight is also designed to spark discussions with children about spending, investing, and more, fostering a better educational experience.
- Best-in-class parental controls (can prohibit specific stores)
- Can add brokerage account to invest in stocks
- Intuitive Parent + Kid apps
- Competitive cash back & interest rates
- Parent-Paid Interest
- High price points
- No cash reload options
- No parent / child lending
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