Greenlight is a US debit card and money app for children and teenagers, managed from a parent's phone. One subscription covers up to five children, and plans run from $5.99 to $19.98 a month. The entry plan is good value for a family with several kids. The dearer plans are mostly paying for safety and insurance features, so decide whether you want those before you upgrade for the savings reward.
Short verdict
For most US families, Greenlight Core is the plan to judge it by: $5.99 a month for up to five children, with chores, allowance, spending controls, savings goals and a 2% savings reward. Measured against single-child apps, that is competitive. Acorns Early Lite, the US version of GoHenry, costs $8 a month and covers up to four cards.
The upgrades are where people overpay. Max, Infinity and Family Shield add cash back, kids' investing, location and driving alerts, and identity and fraud cover. Those can be worth having, but the higher savings reward rarely pays for them on its own.
Greenlight is a US product. UK families should look at our GoHenry review or a free children's savings account instead.
Greenlight plans and prices
| Plan | Price | Savings reward | What it adds | Cost per year |
|---|---|---|---|---|
| Core | $5.99 a month | 2% a year | Debit cards for up to five kids, chores and allowance, parental controls, investing insights and a basic portfolio for parents | $71.88 |
| Max | $10.98 a month | 3% a year | 1% cash back on spending, kids can invest with parent approval, purchase and phone protection, single-bureau credit monitoring | $131.76 |
| Infinity | $15.98 a month | 5% a year | Everything in Max, plus family location sharing, crash detection, SOS and driving reports | $191.76 |
| Family Shield | $19.98 a month | 6% a year | Everything in Infinity, plus identity theft and scam transfer insurance and three-bureau credit monitoring | $239.76 |
Greenlight notes that state taxes may be added to the subscription. New customers can get the first month's fee refunded if they close the account before the first billing date, subject to identity checks and a minimum load.
Does the savings reward cover the fee?
The reward is paid on the family's average daily savings balance, up to $5,000 per family, not per child. Greenlight says the rates can change at any time, and the account must be in good standing with a verified bank account linked.
- Core at a typical balance: if your children keep $500 in savings between them, 2% earns about $10 a year. The plan costs $71.88. Core is worth it for the card and the controls, not the reward.
- Max at the cap: $5,000 saved at 3% earns $150 a year, which covers Max's $131.76. Few families keep $5,000 in a child's spending app, and that money would usually be better off in a savings or investment account in your child's name.
- Core versus Max: Max costs $59.88 a year more. It adds 1 percentage point on savings and 1% cash back on spending. To break even, your family would need something like $2,000 in Greenlight savings and $4,000 a year of card spending.
The honest summary: choose a plan for its features. Treat the savings reward as a small bonus that teaches the idea of earning on money you leave alone.
How the money is held
Greenlight is a financial technology company. The Greenlight card is issued by Community Federal Savings Bank, member FDIC, under licence from Mastercard. Investments made through Greenlight are handled by Greenlight Investment Advisors and are not FDIC-insured; they can lose value.
The insurance on Family Shield is a separate product from Chubb companies, arranged through Acrisure, and is not a bank deposit. If deposit insurance on the card balance matters to you, read Greenlight's cardholder agreement or ask Greenlight directly how balances are insured.
What it does well
- One price for up to five children. Larger families get the most from it.
- Chores and allowance in one place, paid automatically once set up.
- Parents stay in charge of the cards. Spending controls and card management sit in the parent's app, so you can tighten or loosen rules as your child shows they can handle them.
- A visible reward for saving. Even at a few dollars a year, seeing money grow while it sits there makes the point.
- Room to grow. On Max and above, children and teenagers can invest in stocks and ETFs with a parent approving each trade.
Where it falls short
- The upgrades are a bundle. To get kids' investing you also pay for phone protection and credit monitoring you may not want.
- The savings reward is small at realistic balances and capped per family, not per child.
- It is not free. Some banks offer teen checking accounts with no monthly fee, though usually with fewer controls.
- US only. It is no help to UK families.
Who it suits
Good fit: US families with two or more children aged roughly 8 to 17, where an adult wants to set spending rules, automate allowance and see purchases as they happen. Core will be enough for most.
Consider Max: if a teenager is ready to start investing small amounts with you approving each step. If your aim is long-term saving for college, a 529 plan or custodial account usually does more; our guide to investing for college in the US explains the options.
Probably skip: one-child families who mainly want somewhere to save, and anyone choosing a plan because of the headline savings rate.
Questions people ask about Greenlight
How much does Greenlight cost?
From $5.99 a month for Core to $19.98 a month for Family Shield, as of 6 October 2026. Each plan covers up to five children. State taxes may be added.
Does Greenlight pay interest?
Greenlight pays a savings reward of 2%, 3%, 5% or 6% a year depending on the plan, on an average daily savings balance of up to $5,000 per family. The rates can change at any time.
Is Greenlight available in the UK?
No. Greenlight is a US product. UK families usually compare GoHenry and free children's bank accounts; see our kids' savings accounts guide.
Is there a free trial?
Not a free month as such. New customers can have their first monthly fee refunded if they close the account before the first billing date. Conditions apply.
Sources
- Greenlight, Compare plans, including footnotes on savings rewards, cash back, the refund offer, insurance and the card issuer. Checked 6 October 2026.
- Acorns, Acorns Early, for the US comparison price. Checked 6 October 2026.
Prices and rates change. Check Greenlight's own site before you sign up.
About this review
Slow Money Movement™ publishes general information, not personal financial advice. We are not authorised to give regulated advice. If you are unsure whether a product suits your family, speak to a qualified adviser.
© 2026 Slow Money Movement™. All rights reserved.