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Greenlight vs. Current: Which is better for your teen?
Greenlight offers a savings reward, while Current rounds up purchases.
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.
|Name and star rating||
Finder Rating: 4.6 / 5: ★★★★★
Current teen banking
Finder Rating: 4.8 / 5: ★★★★★
|Annual or monthly fee||$4.99 per month||$0 per month|
|Special offer||For each successful referral you or your kid make, you’ll earn a cash bonus and so will your referral.||NA|
|Card purchase fee||$0||$0|
|ATM out of network fee||$0||$0|
|Foreign ATM withdrawal fee||$0||$3|
|Go to site||Go to site|
Our Verdict: Greenlight is the top choiceGreenlight 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
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.
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