Greenlight Card Review: Is It The Best Debit Card For Kids?

As we continue to embrace going digital, gone are the days when kids are encouraged to save in their piggy banks. Kids and teens can now start saving in a more modern way so they'll appreciate the importance of saving as early as now.

If you're the type of parent who has established the "rewards system" for your kids, guide them even better by introducing to them the concept of saving. Now that they have learned the value of earning, it's equally important that they learn how to save. Instead of stashing their coins and cash in stuffed animals, dresser drawers, piggy banks or socks, get them a debit card that's tailor-fit for kids. While there are several options available for debit cards suitable for kids, we find Greenlight to be one of the best debit cards for 2021.

Aside from having a safe way to store their money, having a debit card will also help your kids learn about managing their finances. They'll get a feel of the benefits of being financially independent as they are able to better control their cash flow and spending. They also become more cautious about how they spend their money because they are aware of its value.

When kids understand the importance of money management, they become better prepared for grown-up responsibilities like credit cards. As they develop a sense of financial responsibility at a younger age, this will get carried over into adulthood when they'll have to make bigger spending decisions.

Greenlight

Now that we’ve established the importance of debit cards, here's what the best debit card for kids -- Greenlight can do for you and your kids. It's like adult debit cards but with added features made specifically for younger people. It also has a smart app.

Greenlight Card App

Through the app, parents can set flexible controls and receive notifications about their child’s expenses. You can even make a chore list with corresponding rewards, which they'll receive as soon as they finish the tasks! The app also lets you automatically transfer your kids' allowance to their respective accounts and they can decide whether to put it under Spend, Save or Give accounts. You may also choose if they can use their cards on the ATMs and set a withdrawal limit. Another cool feature is parents can set interests on their kids’ savings. This teaches them the concept of interest and compound growth.

For kids, they can easily monitor their balances and keep track of their spending habits. They can even set goals on the app like saving up towards a new toy or gadget. Their progress will be displayed, motivating them to work harder towards their goals. With the Spend, Save and Give accounts, they will be able to learn how to manage their money. The app also has a feature called Round-Ups, where they can put their spare change from each transaction so they can still save while they spend! On top of that, your kids can earn 1% cash back for every purchase with the Greenlight Max plan.

Safe With Greenlight

In case your kids lose their cards, you can easily switch the card on or off from the app. There are other safety features that ensure your kids' safety. This includes being able to control which stores your kids can use the card. You'll instantly get alerted if they try to spend money on things they aren’t supposed to. You may also activate fingerprint or facial recognition for your kids' cards for extra security. These cards are also FDIC-insured up to $250,000. It’s really the perfect card to train your kids to be financially responsible.

Greenlight Plans

Greenlight is a powerful debit card that works perfectly in most stores that accept MasterCard. Fees start at only $4.99 per month and you can already enjoy the benefits of debit cards for kids. Here are other plans that you might want to get for your family.

If you are still not sure whether Greenlight is for you, they offer a one-month FREE trial for the whole family. You can enroll up to five kids! Start your Greenlight journey here for free!