Greenlight vs. Current: Which is better for your teen?

Greenlight might be your go-to choice if you want well-rounded features like chore tracking, allowance payments and even investing with tight parental controls to limit your kids’ spending. However, Current is designed for teens and works best if you’re looking for allowance payments, controls that let you block stores and a high savings rate — all for no monthly charge.

Specifically, Greenlight offers a savings reward of up to 5.00% per year for balances up to $5,000 — on its dime. Current also offers a savings rate of 4.00% on up to $2,000 in each savings goal that you create.

Both platforms let you round up purchases and deposit the difference in your child’s savings. Another feature that sets these two platforms apart is the ability to add cash. While this feature is unavailable for Greenlight accounts, Current lets you add cash at over 60,000 stores nationwide.

Our Verdict: Greenlight is the top choice

Greenlight and Current aim to help teens earn and save money through direct deposit and savings goals, making them both top choices for a kids debit card. However, Greenlight is a better option overall for its bountiful features, including:

• 1.00%–5.00% rewards rate on savings
• Set limits on spending per store
• Parents can start investing with Greenlight Core, or let kids buy and track investments for as little as $1 on Greenlight’s upgraded plans
• No fees for reloads or withdrawals
• Financial education built in the app
• Up to five kids per account with no age limits

Greenlight also helps your kids grow their money through investments. As the parent, you get final say in approving which stocks they buy.

The difference between Greenlight and Current

The main difference between Greenlight and Current is are that Greenlight offers more features and parental controls, though its plans do cost you. While Greenlight uses a savings reward and a cashback incentive, Current’s features include:

• Designed for teens
• Instant transfers from parent’s to teen’s account
• Automated roundups to move money to savings goal every time your teen swipes their debit card
• Block stores that you don’t want your kids to spend money at
• Ability to add cash via retailers for $3.50 per transaction
• Access to 40,000+ Allpoint ATMs

If you’re looking to add cash to your card or avoid a monthly fee, Current might suit you. Overall, we like Greenlight because of its many parental controls, ability to invest and userfriendly app that caters to kids younger than teens.