Green Light for Kids

[CBECH22]

Hello All! 

Curious if anyone has used the Green Light App for kids and whether its worth it?  I tried searching the forum to see if a thread had already been created, but I didnt see anything. 

If you use it, is it worth the monthly cost?  Do your kids enjoy it?  Does it really make it easier to pass money to the kids?

Let me know your thoughts!

[Blue Skies]

I had not heard of that app.  It looks interesting.

We just set up a teen account for our kid at the bank we use.  It is joint with me, so I have online access to it and I can easily transfer money from my account to hers using my normal online banking interface.  The account comes with a debit card, which has been really nice.  So much easier than cash.  It doesn't have all the customization that the app seems to have, but I'm not sure we really need most of that.  The bank account is free, and if I wanted to bump up the amount she gets in interest I could do that myself with an online transfer of less than what I would pay for the app.

[CBECH22]

I had not heard of that app.  It looks interesting.

We just set up a teen account for our kid at the bank we use.  It is joint with me, so I have online access to it and I can easily transfer money from my account to hers using my normal online banking interface.  The account comes with a debit card, which has been really nice.  So much easier than cash.  It doesn't have all the customization that the app seems to have, but I'm not sure we really need most of that.  The bank account is free, and if I wanted to bump up the amount she gets in interest I could do that myself with an online transfer of less than what I would pay for the app.

Yeah, that was the other option I figured I could go was just to setup a checking/savings account for her at the bank which is free.  The extra features with Green Light (investing and fun learning app) look awesome, but not sure if its exactly worth it.  I dont want to set it all up either and then not like it.  Would just be a waste of moving money around.  Thanks for the input!

[Sugaree]

I like the platform.  It probably works a bit better for kids who have a phone of their own, because they can use their device to track their own account.  I don't love the fees, but I think if I had more than one kid I wouldn't mind so much because the fee would be split between different accounts (it's $4.99/month for up to 4 or 5 cards).  I think Chase uses the same software for their kids' cards, so that's something to look into if you have a Chase checking account already.

That being said, as soon as my credit union will issue him a debit card at age 13, we'll switch to that. 

[Chris Pascale]

We are a passbook savings family.