Greenlight is an Android application developed for kids to teach them essential money management skills. The platform combines savings, spending, giving and investing tools.
Debit cards
Children and teens can open digital wallets to use them in stores or online under parental supervision. Parents decide where the card works and can instantly freeze or unfreeze. The app encourages kids to make spending decisions within preset boundaries.
There are instant alerts on your child’s spending, you can set transaction limits by category or store. There is also an option to allocate money between spend, save and give accounts. On top of that, you are able to complete direct transfers from your wallet to your kid’s child’s card within seconds.
Increase interest
It is possible to set custom savings goals with visual progress trackers that motivate children to reach their targets. You can even reward saving behavior by offering Parent-Paid Interest to encourage long-term thinking. Each savings goal can be edited, funded or celebrated, just like in GoHenry.
It is also worth noting an investing feature where kids can learn about stocks and ETFs under your approval. You are able to authorize each trade, ensuring safety while allowing hands-on experience.
Features
- known for personalized cards with smart controls and spending limits;
- possible to quickly send funds between parent and child accounts;
- there is an option to approve or block purchases by store or category;
- free to download and use;
- compatible with supported Android versions.
