Greenlight Review [2025]: The Best Kids' Debit Card—for Many

What is Greenlight?

Greenlight is a fintech company launched in 2014 by co-founders Tim Sheehan and Johnson Cook. The platform and debit card allow parents to monitor spending and pay allowances, and it gives kids tools to bank, budget, invest, save, and more. Greenlight requires a monthly subscription fee and offers three paid plans.

When my family used it, I found the app and website to be user-friendly for both myself and my kids. I have an iPhone, but the app is also available on Android and has the same features.

Monthly fee	$5.99 to $14.98 per month, depending on plan
Permitted ages	All ages
Free trial	One month
Maximum number of accounts	Five kids
Parental controls	Yes — spending controls, chores and allowance, block or unblock the debit card, spending notifications, merchant blocks and limits
ATM availability	Mastercard, Visa Interlink, or Maestro machines
ATM withdrawal limits	Up to $100 in a rolling 24-hour period, family maximum of $500 per month; parents can also set ATM limits
FDIC insurance	Greenlight partners with Community Federal Savings Bank (Member FDIC, Cert. #57129) to offer coverage up to $250,000

Is Greenlight legit?

Yes, Greenlight is a legitimate company. According to the platform, over six million people have used it as of January 2025. 

Greenlight has been accredited by the Better Business Bureau (BBB) since December 2017 and currently has a B rating. It has a consumer satisfaction score of 3.8 out of 5 stars on Trustpilot, with over 5,500 reviews.

In addition to partnering with Community Federal Savings Bank to provide FDIC insurance, the company is also registered with the U.S. Securities and Exchange Commission (SEC) as Greenlight Investment Advisors, LLC. It is also a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).

My experience with Greenlight

The Greenlight debit card for kids was well worth the price for my family. As a parent, I was able to load the prepaid card using the Greenlight app, and my kids could access the funds. You can make transfers manually or set up weekly direct deposits.

I love that parents can set the terms for adding money. For example, I set up a handful of chores my kids had to complete before getting paid. You can set up repeating chores, which I did, or you can set up one-time jobs. I like this feature because it shows kids that it pays off if they put in some extra effort. You also have the option to set up a repeating allowance, which some of my friends' families prefer. Chores and allowance tools are pretty common in kids' banking platforms, but Greenlight's take on this is especially user-friendly and rewarding.

Parents and kids both use the Greenlight app, but they see different information when they log in. As a parent, I could see my children's transactions and monitor their balances.

How much does Greenlight cost?

	Greenlight Core	Greenlight Max	Greenlight Infinity
Monthly fee	$5.99	$9.98	$14.98
Security features	FDIC insurance SIPC insurance	FDIC insurance SIPC insurance Identity theft, purchase, and phone protection	FDIC insurance SIPC insurance Identity theft, purchase, and phone protection
Features	Debit card Savings goals Earn 2% on savings Allowance tools Parental monitoring Financial literacy games	All Greenlight Core features Earn 3% on savings Investing for kids Identity theft, purchase, and phone protection 1% cash back on debit card spending	All Greenlight Core/Greenlight Infinity features Earn 5% on savings Family location sharing and SOS alerts Crash detection, driving reports, and trip alerts
Get a one-month free trial of Greenlight

Which plan is right for you?

Families have many options when choosing their Greenlight plan. As I mentioned earlier, I chose the Greenlight Max because I wanted my kids to learn about investing, but there are many factors you should consider before selecting a plan.

Greenlight Core

If you're just looking for a basic debit card to pay your kids' allowances or to help them manage money, Greenlight Core may be a good option.

This plan includes tools that allow kids to see their spending and saving balances and set their own goals. Kids earn 1% on their savings and can track items like allowance as they earn it.

The Greenlight Core plan also includes parental controls. Parents can choose to add funds to their kids' Greenlight cards, set spending limits and store-level controls, and monitor their kids' accounts. There's no investing or debit card cash back with this plan, unfortunately. 

Greenlight Max

I chose the Greenlight Max plan because I wanted my kids to become comfortable investing. 

With this plan, kids can begin learning about investing money with as little as $1 on a platform designed for them with fractional shares. There are no trading fees, and I had to approve each trade from my parent account when my kids chose to invest.

The Greenlight Max plan also offers 3% rewards on kids' savings accounts versus 2% in the Core plan, plus 1% cash back on debit card purchases. Cash back earnings are deposited directly into savings. This helps encourage kids to save and helps them learn the concept of compound interest and earning cash back.

Some added protections with this plan, including identity theft, cell phone, and purchase protection, didn't make or break my decision, but they are nice additions. These benefits are similar to what parents get on their credit cards, so it's nice to teach kids about them early, as many adults don't even know they exist.

Greenlight Infinity

If you want more safety and security features, Greenlight's Infinity plan is a comprehensive solution that won't require multiple subscriptions.

Personally, I find ways to get most of these features for free. Our iPhones have family location sharing, and Life360 takes it a step further, offering crash detection and driving reports, but the Infinity plan isn't a bad option if you don't have access to complimentary tools like this.

With the Infinity plan, your kids also earn 5% savings rewards on their savings up to $5,000 per family. They'll earn the same debit card cash back as they would with the Max plan, so the only thing that really sets this plan apart is the safety.

What I like about Greenlight

• Security features: Greenlight requires parental approval for investments, as well as ongoing monitoring, spending controls, and other security features, which provide peace of mind. Kids can make decisions, learn from their mistakes, and have your guidance along the way.
• Educational tools: I like that Greenlight teaches my kids how to set financial goals and monitor their money. The hands-on tools make my lessons easier for them to comprehend, and they learn first-hand how to put the habits into practice.
• Teaches kids financial responsibility: Because it's an app with financial management tools, kids can learn valuable lessons. The Greenlight debit card prevents kids from spending more than they have and could help them learn how to manage their money responsibly.
• Encourages saving for kids: Greenlight savings offers parent-paid interest, which allows parents to boost their child's savings. It also offers Round Ups, which you can enable to round purchases up to the next dollar and put the difference in savings. This is in addition to the interest kids earn on their savings that's paid by Greenlight.
• Easy money management for the family: With the Greenlight card, it was easy for my whole family to manage their money and learn together. I could quickly and easily send money to the card, automate weekly transfers to my child's card, monitor spending, and set rules for spending categories in real-time.
• Customized cards: If you like customized cards, it's available for a flat fee of $9.99.

Greenlight alternatives

You should do plenty of research before you open any type of money account, especially one for your kids. If Greenlight doesn't feel like a good fit for your family at this point, consider these two options we also recommend.

GoHenry

GoHenry is often compared to Greenlight because these are probably the most popular kids' banking platforms available today. However, we've found that Greenlight offers better value overall, with more features available at a lower cost per child. GoHenry costs $5 per child or $10 for up to four kids, and it doesn't provide investing features or cash back on debit card purchases.

That said, you might prefer GoHenry if you already invest with Acorns since Acorns Gold members get free access to GoHenry. We could also see some kids, especially younger kids, preferring GoHenry's fun educational games to Greenlight's.

Read our full GoHenry review.

Capital One MONEY

Children ages eight and up can open a free account, which includes a free debit card. Parents get similar controls, including locking or unlocking the child's card, setting spending limits, and setting up one-time or recurring transfers. There is no monthly fee, but you don't get the additional features Greenlight offers. 

We'd recommend this one over Greenlight for teens who have a little more experience managing their money already since it more closely resembles a traditional checking account.

Read our full Capital One 360 review.

Child account at your bank

Many banks offer free children's accounts if you have an account there. Having accounts at the same bank makes transfers seamless and cuts down on the paperwork, apps, and passwords you must remember.

FAQs

Bottom line

For parents hoping to help their kids learn about money management, the Greenlight debit card can be a valuable tool. There are a number of resources, and it makes it easy for you to see what your children are doing with their money at any point.

However, Greenlight does cost money. There are other ways to provide your child with access to a regular or prepaid debit card, as well as learn about investing without paying fees.

Many of the best banks offer joint accounts with children, which allow you access and control — though seeing everything probably isn't as simple as what you'd get with Greenlight.

If you want everything in one place and in a way that's easy to see and manage, Greenlight might be worth the cost.