Greenlight

Why We Like It

Greenlight is the most powerful family money app available and the best tool for teaching kids real financial habits. The real-time spending controls, automatic allowance, chores feature, and investing education make it worth the monthly fee for families who take kids' financial education seriously.

Pros & Cons

Pros

• Best-in-class parental spending controls — approve or block individual stores
• Savings Goals feature teaches kids financial goal-setting
• Invest for kids feature introduces market concepts early

Cons

• Monthly fee on top of your primary bank account
• Not a full-service bank — needs to be paired with checking account

Score Breakdown

Banks were evaluated on monthly fees and minimums, interest rates on savings, kids' banking tools and parental controls, ATM network and convenience, and customer service.