Goalsetter card review

How do I open a Goalsetter account?

To get a Goalsetter card, you first need to establish an account with Goalsetter:

1. Go to the provider’s site and follow the steps to apply.
2. From the Goalsetter website, download and install the app from the App Store or the Google Play Store.
3. Create a user account using your name and contact info. Next, link it to your bank account.
4. Add family members to your Goalsetter account by sending digital invitations.
5. Once your child’s account is set up, request a Goalsetter card through the app.

How much does Goalsetter cost?

Goalsetter costs $3.95 a month or $5.95 a month depending on which subscription plan you choose:

Plan	Monthly cost	Features
Goalsetter	$3.95	Auto deposits for each month Round up feature for saving small deposits Debit card with parental controls and settings Financial literacy tools and quizzes Send money for payments through app
Goalsetter Gold	$5.95	Everything in the Goalsetter plan, plus: Investing advisory platform

What you’ll like about the Goalsetter card

Like several other prepaid cards for kids, Goalsetter lets parents set spending limits, allowance rules and chores for their kids. But Goalsetter also includes these standout features:

• No monthly fee. Unlike most kids’ cards, you won’t pay a monthly fee to use Goalsetter.
• Financial quizzes. The Goalsetter app includes weekly financial literacy quizzes that your child will have to complete before using their Goalsetter card. You also have the option to turn on a feature that locks your kid’s card if they haven’t completed at least one quiz that week.
• Learn to Earn. Parents can choose to pay their kids up to $1 for each question they correctly answer in Goalsetter‘s Learn to Earn quizzes. The amount kids earn is transferred from your linked bank account to your kid’s Goalsetter savings account.
• Real-time transfers and auto-save features. Transfer money to your friends or family at any time and use auto-save or roundup transfers to contribute to your child’s goals.
• Separate funding sources. Goalsetter is a good option for divorced parents as you can both have separate Goalsetter accounts with separate funding sources and still help your kid save.
• Savings gifts. Family members can purchase Goalcards, which are digital gift cards that kids can use toward their savings. But it costs $1 per Goalcard and there could be a 2.9% + $0.30 processing fee as well.
• Parental controls. You can set limits and rules to determine how and where your kid can spend money. You can also enable the Learn Before You Burn rule, which requires your kid to play at least one weekly quiz to use their Goalsetter card. Plus, you can lock some of your kid’s goals, which ensures they can’t move or spend those funds on something else.

What to watch out for

Before applying for a Goalsetter card, keep in mind the following:

• Not transparent. Although Goalsetter‘s website states that they’re transparent, you won’t find a list of their fees or limits on the site unless you open an account or call customer service. We reached out to a representative to unearth the account’s fees and limits.
• No ATM withdrawals. Unlike some cards for kids like Greenlight, you can’t withdraw money from an ATM with Goalsetter.
• No direct deposit. Some cards like FamZoo support direct deposits, but Goalsetter doesn’t.
• Can’t use outside the US. Your kid can only use their Goalsetter card while in the US.

Is Goalsetter safe?

Goalsetter is FDIC-insured up to $250,000, and the Goalsetter card is backed by Mastercard. Goalsetter also uses bank-level security to protect your personal and financial data.

Goalsetter reviews and complaints

As of July 2022, there aren’t any customer reviews for Goalsetter on Trustpilot or the Better Business Bureau’s website, but the app and account have hundreds of reviews on the Apple App Store and the Google Play Store. Based on over 1,200 reviews on Apple’s App Store, Goalsetter has an average rating of 4.3 out of 5. And on the Google Play Store, the Goalsetter card app has an average rating of 4 out of 5 based on 869 reviews.

Most of the complaints mention technical issues with the app, but many reviewers have left positive remarks regarding the company’s customer service.

Compare Goalsetter with other kids’ debit cards

See how other debit cards for kids compare based on their fees and features.

How do Goalsetter‘s fees compare to the competition?

Here’s a quick look at how some of Goalsetter‘s fees compare to other debit cards for kids.

Goalsetter‘s fee and limit	Amount	How it compares against other cards
Monthly fee	$0	Less expensive
Transaction fee	$1 per transaction	More expensive
Stripe’s transaction fee	2.9% + $0.30 per transaction	More expensive
ATM withdrawal fee	N/A	You can’t use this card at ATMs
Cash reload fee	N/A	This card doesn’t support cash reloads
Card replacement fee	$8	More expensive
Direct deposit limit	N/A	This card doesn’t support direct deposits
ATM withdrawal limit	N/A	This card doesn’t support ATM withdrawals
Maximum card balance	$10,000	This limit is higher than most other cards
Maximum ACH load limit	$2,500 per day	This limit is higher than most other cards
Maximum purchase limit	$2,500	This limit is higher than most other cards

I got the Goalsetter card. Now what?

Here’s how you can use your Goalsetter card once it arrives.

• Activate it in the Goalsetter app.
• Add the card to your kid’s digital wallet so they can make purchases without relying on the physical card.
• Use the app to set up allowance rules and payments.
• Create a few savings goals in the app.
• Define any limitations about where and when your child can spend their money.
• Your child can use their Goalsetter card at any retailer in the US that accepts Mastercard.

Goalsetter also has a referral program that lets you earn $5 for every person who uses your referral code to open an account.

5 funding options

You can fund your kid’s Goalsetter card in the following five ways.

1. External account. Connect an external bank account to Goalsetter to fund any Goalsetter card connected to your Goalsetter profile.
2. Peer-to-peer payment. Invite friends and family members to send money to a Goalsetter card instantly via the Goalsetter app.
3. Transfer from savings. Your kid can move money from their Goalsetter savings account to their Goalsetter card at any time.
4. Family Circle. Goalsetter‘s Family Circle feature lets friends and family members with the Goalsetter app set up auto-save or roundup transfers linked to a specific goal in your kid’s account.
5. GoalCards. Friends and family members without Goalsetter accounts can buy digital gift cards called GoalCards to contribute to your kid’s savings.

How can I contact Goalsetter?

There are only two ways to contact Goalsetter for help with your card:

• Email hello@goalsetter.co
• Fill out a form on the company’s website.

Frequently asked questions

• Who is Goalsetter for?

  According to Goalsetter‘s press release, Goalsetter is for teens but contains relevant content for K-12. Goalsetter was also designed with Black and Latinx children in mind.

• How does Goalsetter work for divorced parents?

  If you’re divorced and want to both support your kid, here’s how to create separate accounts and add each other to the Family Circle so you don’t have access to each other’s bank information.

  1. Both parents create their own Goalsetter accounts.
  2. One parent adds the child as “kid” in the account. This person has broader control of the kid’s account and can set their goals, give allowances for chores and save for the kid using allowances.
  3. The other parent can join the main account as part of the Family Circle. They’ll be able to make one-time money transfers, round-ups and Autosaves from their own bank account. But they can’t control the kid’s profile, their goals or allowances.

Goalsetter is not currently available on Finder

Have you considered GoHenry?

Get interactive money and investing tools for your kids, including expert-developed games and quizzes. Offers strong parental controls that allow you to set where and how much your child can spend.

• Finder-exclusive 2-month free trial plus $10 in allowance, then $4.99
• Optional parent-paid interest
• 45+ customizable card designs

Learn more

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