Greenlight Card Review
About 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.
Greenlight is a prepaid card and app for managing family finances, from chores and allowance to spending and using money online or off.
How Does Greenlight Card Work?
Greenlight uses a permission-based spending rules system whereby parents can set rules for specific stores and spending categories. When parents set these controls over spending, this allows them to place their preferred limits on their child’s spending at a particular store or within a particular spending category.
With this feature, you can choose how much interest their savings earns. If you want them to earn a lot, then you can set your interest to pay up to 100% interest.
Parent Paid Interest
The instant transfer capability is really beneficial for parents. When a child is too small to have a job or your teens are too busy to go with you to the bank, it’s up to you to give them some spending money each week.
Instant Money Transfers
Greenlight gives you the tools to set up, administer and oversee a chore plan or schedule. The program offers routine tasks that can start as unpaid which then allow you to add gradual tasks you do pay for because they require more time and work.
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