Greenlight Debit Card | Debit Card for Kids and Teens
The Greenlight Debit Card is a prepaid debit card designed for kids and teens, aiming to teach financial literacy and provide parents with control over their children’s spending.
It’s a popular choice among families in the U.S.
💳 Key Features
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Parental Controls: Parents can set spending limits, approve or decline transactions, and monitor real-time spending through the Greenlight app.
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Personalized Cards: Each card can be personalized with the child’s name and a photo. A one-time fee of $9.99 applies for this customization.
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Educational Tools: The app includes features to teach kids about saving, earning, investing, and giving. It also offers financial mini-games and quizzes.
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Investment Options: Teens can invest in stocks and ETFs with parental approval. Investments are not FDIC-insured but may be SIPC-insured through DriveWealth, LLC.
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Security Features: The card includes an EMV chip, PIN protection, and the ability to lock or unlock the card instantly.
💰 Pricing Plans
Greenlight offers three subscription tiers:
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Greenlight: $4.99/month
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Greenlight Max: $9.98/month
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Greenlight Infinity: $14.98/month
Each plan includes access for up to five kids. The higher-tier plans offer additional features like 1% cash back on purchases and higher savings interest rates.
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📱 App Availability
The Greenlight app is available for download on:
⚠️ Considerations
While Greenlight offers robust features, some users have reported issues:
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International Usage: A user reported that their child couldn’t use the card in Thailand despite prior confirmation.
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Customer Service: Some parents have expressed dissatisfaction with customer support, citing unhelpful responses and unresolved issues.
✅ Final Thoughts
The Greenlight Debit Card is a comprehensive tool for teaching kids and teens about money management. It offers a range of features that promote financial literacy and provide parents with control over their children’s spending. However, potential users should be aware of the reported issues and consider whether the benefits align with their family’s needs.
