11 Excellent Reasons to Get the Greenlight Debit Card for Kids

Complimentary Greenlight Debit Card and Money App for CashPlus Clients

CashPlus clients who sign up for Greenlight, will have the $4.99 monthly fee waived. Offer is valid for any CashPlus Brokerage Account holder and includes debit cards for up to 5 family members.

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Greenlight Pros

Before signing up for the Greenlight card or any other debit card for kids, it’s important to consider what’s good—and not so good—about it. Here are some of the best reasons to consider a Greenlight card for kids.

  • Parents can set controls for spending and deposits, including tying transfers to accomplishments like completing chores, doing homework or getting good grades.
  • Notifications allow parents to track their child’s transaction history in real time.
  • Certain purchases are automatically blocked by Greenlight.
  • Greenlight’s savings rewards, debit card round-ups and cash back on purchases helps kids reach savings goals faster.
  • Kids can learn investing from an early age with a Greenlight + Invest plan.
  • Cash rewards offered with Greenlight Max can help kids grow their savings.
  • Kids’ balances are FDIC-insured up to the $250,000 limit.

The Greenlight debit card for kids could be a great fit if you want to give your children flexibility to spend while maintaining control over their accounts. The fact that Greenlight blocks certain transactions automatically is a nice plus, as some other debit cards for kids don’t do this.

How to add money to Greenlight card with a bank account?

Funds added to Greenlight using a bank account may be available instantly. In the Greenlight app, click on the gear icon located on the right side of the dashboard. Click on “Funding account,” then “Add a Funding Account.” Select “Add a bank instantly.” After reading the terms and agreeing to them, select “Get Started.” Select the bank institution for your account and enter banking credentials.

Next, information is verified. Select how you want to complete verification (via text or call). You will receive a verification code to enter into Greenlight. Select the bank account to fund the Greenlight account and click continue.

Why use Greenlight?

There are no hidden fees using Greenlight. Plans start at $4.99 per month and that includes up to five debit cards. You can cancel at any time. There are also no age requirements for card use. The card is also available for use in over 150 other countries with no foreign transaction fees.

How much does the Greenlight debit card cost?

The Greenlight debit card has three payment tiers: Greenlight, Greenlight + Invest and Greenlight Max.

You won’t be able to give your kids the Greenlight debit card without paying a monthly fee; however, you will be able to decide which tier is best for your family.

PlanMonthly feeFeatures
Greenlight$4.99
  • Debit cards for up to 5 kids
  • Educational app
  • Core financial tools
  • Parental controls
Greenlight + Invest$7.98
  • Debit cards for up to 5 kids
  • Educational app
  • Core financial tools
  • Parental controls
  • Investment platform
Greenlight Max$9.98
  • Debit cards for up to 5 kids
  • Educational app
  • Core financial tools
  • Parental controls
  • Investment platform
  • Greenlight black card
  • Priority customer support
  • Identity theft protection
  • Cellphone protection
  • Purchase protection

How Do You Get a Greenlight Card?

To get a Greenlight card for kids, you’ll need to visit the Greenlight website and enter your mobile phone number. Greenlight will text you a confirmation code, which you’ll enter on the website. From there, you can register and create your family’s account.

As the parent or guardian on the account, you’ll need to give Greenlight some basic information, including:

  • Your name
  • Names of the children you want to get a Greenlight card for
  • Mailing address
  • Email address
  • Your date of birth
  • Your Social Security number

You’ll also need to link an existing bank account so you can make transfers to your Greenlight account. You can provide either a debit card number or your bank account and routing numbers.

Here’s one important thing to note about getting a Greenlight debit card for kids: It’s only free for the first 30 days. Once the 30-day trial expires, a monthly fee of $4.99 applies. Greenlight waives the monthly fee but only if you have a Morgan Stanley CashPlus brokerage account and link it as your Greenlight account’s funding source.

How Much Does Greenlight Cost?

A subscription fee with Greenlight starts at $4.99 a month per family and come with cards for, at most, five (5) children. In addition, this basic subscription includes the following features:

• An educational app

• Essential financial instruments

• Parental restrictions

• Reward for Greenlight Savings (up to 1 percent interest on Savings)

• Saving, earning, investing, spending, and giving abilities

The next plan is Green + Invest, which includes everything in the Greenlight plan along with investing platforms. This plan costs $7.98. Lastly, they have the Greenlight Max, which costs $9.98. Again, it includes everything in the Greenlight + Invest package, in addition to the following features:

• Reward for Greenlight Savings (up to 2 percent interest on Savings)

• Cash Back (1%) on All Purchases

• Black Card with Greenlight

• Priority access to customer service

Identity theft safeguards

• Cell phone security

• Purchase security

It’s worth mentioning that the company will pay for your first month’s plan, and you can quit at any moment. There is a one-time price of $9.99 if you want to switch to a Custom Card.

“What are the costs connected with Greenlight?” you might ask. Except for the monthly price charged by the provider, there are no other covert or extra fees except if your kid loses their Greenlight Card. The first card replacement is free of charge. After that, for any other further replacements, you will pay a $3.50 card replacement fee. 

What Is The Greenlight Debit Card?

The Greenlight debit card is a unique alternative to banking. The debit card was developed by MasterCard exclusively for youngsters. The core concept is similar to loading money onto a gift card for a friend and giving it to them.

Except with a Greenlight card, you can regularly add additional money to your children’s cards as you see fit via their convenient mobile cash app, which offers a seamless digital experience. You could even set up regular allowance funding so that you don’t forget to pay their weekly earnings.

Moreover, you can limit where your child can spend their cash so that they don’t overspend in one category, like online gaming.

With all of these wonderful advantages come even more perks, including teaching your kids how to invest! The Greenlight debit card allows parents to pay an allowance or purchase items online and set spending limitations to ensure their children do not go over what they agreed on.

The card also comes with a family finance app, a feature-rich financial platform designed to assist parents in teaching their children critical personal finance skills and developing helpful money habits such as saving, acquiring, investing, spending, and using money responsibly.

In essence, the money app is designed specifically for individuals to learn about money through the Greenlight prepaid card that comes with permissions, notifications, and safety measures.

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