Greenlight review: A family financial platform built around kids’ money

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Greenlight started as a simple way for parents to give their kids a debit card and set rules around how they spend. But the company has since expanded well beyond kids' banking, adding investing accounts, GPS safety tracking, fraud protection for grandparents and, as of June 2026, a household hub device for managing family calendars and chores.

That expansion could be useful if you want one platform to manage your kids' money and other family logistics. But if all you need is a simple debit card, you may end up paying for features you don't use.

Below, CNBC Select breaks down Greenlight's features, costs, who it's best for, plus alternative family financial accounts to help you decide if it's worth it.

Greenlight review

• What is Greenlight?
• Greenlight plans and pricing
• How Greenlight works and its features
• Greenlight pros and cons
• Who Greenlight is best for
• Alternatives to Greenlight

What is Greenlight?

Greenlight is a subscription-based banking app for kids and teens, built around parental controls. At its core, kids get a debit card to spend, save and earn money, while parents keep an eye on things and set the rules.

Every plan comes with debit cards for up to five kids. Beyond that, the features depend on which plan you choose, from basic money management on the low end to investing, cash back and extra safety tools on the higher tiers.

Greenlight plans and pricing

Greenlight offers four plans, and each one builds on the last by adding more features on top of the debit card. Here's how they break down:

• Core ($5.99 per month): Debit card for up to five kids, chores and allowance, savings goals and basic money management tools
• Max ($10.98 per month): Everything in Core, plus investing, cash back and additional protections
• Infinity ($15.98 per month): Everything in Max, plus expanded safety features like GPS location tracking
• Family Shield ($19.98 per month): Everything in Infinity, plus the most extensive identity theft and fraud protection, including coverage aimed at older family members

Every plan covers up to five kids, so the price doesn't change based on family size. This makes the jump between tiers less about how many kids you have and more about which extra features you think are worth paying for.

How Greenlight works and its features

Parents set up their Greenlight account and add money, then kids get their own card and app to spend from. Parents can turn the card on or off, block certain spending categories and get a notification every time their kid makes a purchase.

The app also handles chores and allowance. Parents assign a task and a payout, and Greenlight sends the money automatically once it's marked done. Kids can set savings goals, and on higher plans, they can start investing, though parents have to approve every trade.

Greenlight debit card

Greenlight Debit Card

Learn More

• Cost

  $5.99 per month for Core Plan, $10.98 per month for Max Plan, or $15.98 per month for Infinity Plan

• Rewards

  1% cash back

• Minimum deposit/balance

  None

• Overdraft fee

  None

• ATM access

  Any ATM with a Mastercard, Visa Interlink or Maestro name or logo

• Parental controls

  Parents can block spending categories and more

Terms apply.

Pros

• Earns 1% cash back on every purchase, putting a little money back in your child’s pocket with every swipe.
• Financial literacy tools like the Greenlight Level Up™ game make learning about money engaging for kids of all ages.
• No minimum deposit or balance requirements, so there’s no pressure to keep a certain amount in the account.
• No overdraft fees, so your child can’t accidentally spend more than what’s available.
• Works at any ATM with a Mastercard, Visa Interlink, or Maestro logo, giving your child broad access to cash when needed.

Cons

• Monthly fee ranges from $5.99 to $15.98, depending on the plan you choose.
• No ATM fee reimbursement, so out-of-network ATM withdrawals will come with an added cost.

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The Greenlight debit card is still the heart of Greenlight, and it's included on all four plans. Kids can use it to spend money parents have loaded onto the account, and every purchase shows up in the app in real time. Parental controls on the card include:

• Setting spending limits
• Blocking specific categories, like online stores or fast food
• Turning the card off instantly if it's lost or misused
• Getting a notification for every purchase

Parents can make instant transfers onto the debit card from a linked bank account, so there's no waiting around for allowance to show up. Teens on certain plans can also set up direct deposit, meaning a paycheck from an after-school job can land straight into their Greenlight account.

Savings and rewards

Kids can set up savings goals right in the Greenlight app, whether that's for a new video game or something bigger down the line, and this is available on every plan, including the entry-level Core plan. Savings and rewards features include:

• Custom savings goals kids can track in the app
• Parent-set interest rates on savings
• Cash back on purchases, which kicks in starting with the Max plan

Investing with Greenlight

Greenlight investing features are included starting with the Max plan and carries through to Infinity and Family Shield, giving kids and teens access to more than 4,000 stocks and ETFs. Kids can research companies and request trades on their own, but a parent has to approve every trade before it goes through.

Parental controls and money management

Parental controls run through the whole Greenlight app and are available across every plan. Parents can:

• Approve or decline individual purchases in real time
• Set up automatic allowance so kids get paid on a schedule
• Assign chores with a payout attached, which gets sent automatically once the chore is marked done
• Track spending and saving habits across all their kids from one dashboard

Higher-tier plans build on this with Level Up, Greenlight's financial education tool. It walks kids through lessons on saving, investing and credit, with quizzes built in so parents can see what's actually sinking in.

For families with more than one kid, everything lives under a single subscription, with up to five debit cards per account. Parents can set different rules for each child, so a teenager might get more spending freedom than a younger sibling on the same plan.

Family safety and Family Shield

Starting with the Infinity plan, Greenlight adds a set of safety features around location and driving, on top of everything included in Core and Max. These include:

• Real-time GPS location sharing, so parents can see where their child is
• SOS alerts kids can trigger if they need help
• Crash detection that can notify parents automatically
• Driving reports that track speed, braking and other habits for new drivers

Family Shield, Greenlight's top-tier plan, builds on Infinity with more extensive identity and fraud protection. This includes credit monitoring, alerts for suspicious activity and identity theft protection and, unlike the other tiers, some of these protections extend beyond the kids on the account to cover parents and even grandparents.

Taken together, these features push Greenlight further from a simple debit card and closer to a full family safety net, though they also account for a good chunk of the jump in price between the lower and higher tiers.

Greenlight pros and cons

• Debit cards and app work for up to five kids under a single subscription
• Real-time purchase notifications and spending controls for parents
• Chores and allowance are automated once tasks are marked done
• Investing available on higher-tier plans, with parent approval required on every trade
• Family Shield adds identity and fraud protection for the whole family, including older relatives

• Monthly cost adds up compared to free banking options for kids
• Some of the most useful features, like investing and cash back, aren't available on the base Core plan
• Family Hub is an added cost on top of an already tiered subscription

Who Greenlight is best for

Greenlight makes the most sense if you want a hands-on way to teach kids about money without handing over full control. It works well for families juggling multiple kids, since one subscription covers up to five cards, and for parents who want to approve, track or block spending in real time.

However, it may be a tougher sell if you just want a simple debit card for one child, since the lower-cost, no-frills option is Core, and the features that make Greenlight stand out mostly live on the pricier plans.

Alternatives to Greenlight

Greenlight isn't the only option if you want a kids' debit card, and depending on what matters most to your family, another option might make more sense.

If you want to skip the monthly fee entirely, Chase First Banking is free if you already bank with Chase, and it covers chores, allowance and parental controls for kids as young as six. If your teen is old enough for their own checking account, Capital One MONEY Teen Checking gives you a no-fee option you co-own with them, with real-time spending notifications and controls similar to what you'd get with Greenlight, minus the subscription cost.

Chase First Banking℠

Learn MoreJPMorgan Chase Bank, N.A. Member FDIC.

• Monthly maintenance fee

  $0. You must be an existing Chase checking customer to open the account for your kids ages 6 to 17.

• Minimum deposit to open

  $0

• Minimum balance

  $0

• Annual Percentage Yield (APY)

  N/A

• Free ATM network

  14,000+ Chase ATMs

• ATM fee reimbursement

  None

• Overdraft fee

  $0

• Mobile check deposit

  Yes

Terms apply.

Pros

• No monthly fees, no minimum deposit and no minimum balance required, making it a genuinely no-cost account for kids aged 6 to 17.
• Access to 16,000 Chase ATMs nationwide, giving your child plenty of fee-free options for cash withdrawals.
• Parental controls include spending limits and money request approvals, so you stay in control while your child builds independence.
• Top-rated mobile app makes it easy to monitor your child’s account and manage settings on the go.

Cons

• No APY, so the account won’t earn interest on your child’s balance.
• ATM withdrawals are capped at $100 at both Chase and non-Chase ATMs, which may be limiting for older teens.
• Only available to existing Chase checking customers, so you’ll need a Chase account of your own to open one for your child.

Learn MoreView More

Capital One MONEY Teen Checking

Learn MoreCapital One is a Member FDIC.

• Annual Percentage Yield (APY)

  0.10% APY

• Minimum deposit/balance

  None

• Monthly maintenance fee

  None

• Overdraft fee

  None

• Offers debit card?

  Yes

• ATM access

  70,000+ fee-free ATMs nationwide; no ATM fee reimbursement

• Parental controls

  Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions

Terms apply.

Pros

• Earns 0.10% APY on all balances, so your child’s money grows even in small amounts.
• No minimum deposit, no monthly fees, no overdraft fees and no foreign transaction fees
• Access to 70,000+ fee-free ATMs nationwide, giving your child plenty of options for cash withdrawals.
• Parents can monitor transactions, set alerts, schedule automatic allowances, and lock or unlock the card at any time.
• No Capital One account required, so parents can link an external bank account to fund the account.
• Rewards kids for hitting savings goals, making saving feel like an achievement rather than a chore.

Cons

• No ATM fee reimbursement for out-of-network withdrawals.
• Daily limits apply on debit card purchases and ATM withdrawals, which could be restrictive for older teens with bigger expenses.

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If investing is your priority, Acorns Early combines a debit card and chores with access to Acorns' existing investment accounts, so you and your kid can build a portfolio together instead of opening a separate custodial account elsewhere. It also costs less than Greenlight's Max plan, where investing features kick in.

Acorns Early Debit Card

Learn MoreCapital One is a Member FDIC.

• Cost

  $8 per month for Acorns Early Lite or included in the Acorns Gold subscription ($12 per month)

• Minimum deposit/balance

  None

• Overdraft fee

  None

• ATM access

  55,000+ fee-free ATMs within the AllPoint Network

• Parental controls

  Parents can lock or unlock their kid's savings goals, block transactions at stores that sell age-restricted items, or receive real-time spending notifications or notifications on declined purchases.

Terms apply.

Pros

• Seamlessly integrates with a kids’ investment account, making it easy to manage spending and investing in one place.
• Available for children as young as 6, so you can start building good money habits early.
• Parents can set spending limits, block transactions at stores selling age-restricted items, adjust savings goals and lock or unlock the card, all from the app.
• Access to 55,000+ fee-free ATMs within the Allpoint Network nationwide.
• No minimum deposit, no overdraft fees and no foreign transaction fees.

Cons

• Monthly fee of $5 for one child or $10 for two to four children, on top of the $12 per month Acorns Gold subscription required to access investment account features.
• No ATM fee reimbursement for out-of-network withdrawals.

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If you want your kid's checking balance to actually earn something, Axos Bank First Checking gives you a joint account for teens 13 to 17 with no monthly fees and interest on the balance.

First Checking from Axos Bank

Learn MoreAxos Bank ® is a Member FDIC.

• Annual Percentage Yield (APY)

  0.10% APY

• Minimum deposit/balance

  None

• Monthly maintenance fee

  None

• Overdraft fee

  None

• Offers debit card?

  Yes

• ATM access

  95,000 fee-free ATMs nationwide; up to $12 domestic ATM fee reimbursement per month

• Parental controls

  Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions

Terms apply.

Pros

• Earns 0.10% APY on all balances, so your teen’s money is always growing even in small amounts.
• No minimum deposit, no monthly fees, and no overdraft charges, making it a genuinely no-cost account for teens aged 13 to 17.
• Access to 91,000+ fee-free ATMs nationwide, one of the largest networks we found for a teen checking account.
• Up to $12 per month in ATM fee reimbursements, so out-of-network withdrawals won’t cost your teen much.
• Parents can set up alerts and lock or unlock the debit card at any time for added peace of mind.

Cons

• Daily limits apply on debit card purchases and ATM withdrawals, which may feel restrictive for older teens with bigger spending needs.
• Online-only bank with no physical branches, so all support is handled digitally or by phone.

Learn MoreView More

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