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Monthly maintenance fee
Signature transaction fee
PIN transaction fee

Our verdict

A debit card designed for the next generation of Black and Latinx children.

It’s still early days for the card, but we admire Goalsetter’s mission to help kids learn more about saving and spending their money wisely. Although most prepaid cards provide features that teach kids good financial management skills, this one stands out for its educational quizzes that let parents reward kids with cash.

But the card doesn't work at ATMs, so your child can't use it to make withdrawals. Also, it doesn't support direct deposits, and your kid can't use the card outside of the US. If those features are important to you, explore other prepaid cards for kids that offer more funding and withdrawal options.


  • 1% Cash Back
  • Educational quizzes
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In this guide

  • Our verdict
  • Details
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  • Ask a question's rating: 4.0 / 5.0


Goalsetter is a Black-owned, female-run, family banking and financial literacy platform featured on the hit show Shark Tank in 2019. In September 2020, the company launched the Goalsetter prepaid debit card to help Black and Latinx children learn how to manage their money. The card has no monthly fee, but you can't make any ATM withdrawals.



Card type Prepaid
Card network Mastercard
Monthly fee $0
Signature transaction fee $0
PIN transaction fee $0

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.


To open an account with Goalsetter and get a Goalsetter card you must meet certain requirements:

  • US. citizen or legal US resident
  • At least 13 years of age or have the consent of your parent or legal guardian
  • Valid US bank account

Required information

As long as you have a bank account to fund your Goalsetter, you won’t need to provide additional information such as your Social Security number or state ID.

How much does Goalsetter cost?

Goalsetter costs $3.95 a month or $5.95 a month depending on which subscription plan you choose:
PlanMonthly costFeatures
  • 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$5.95Everything 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.

Goalsetter logo



Finder rating 4 / 5

Maintenance Fees

No Fee

Card purchase fee


Age requirements


GoHenry logo



Finder rating 4.3 / 5

Go to site

Maintenance Fees

$4.99 monthly

Card purchase fee


Age requirements

6 to 18 years old

Greenlight logo



Finder rating 4.6 / 5

Go to site

Maintenance Fees

$4.99 monthly

Card purchase fee


Age requirements

Any age

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 limitAmountHow it compares against other cards
Monthly fee$0Less expensive
Transaction fee$1 per transactionMore expensive
Stripe’s transaction fee2.9% + $0.30 per transactionMore expensive
ATM withdrawal feeN/AYou can’t use this card at ATMs
Cash reload feeN/AThis card doesn’t support cash reloads
Card replacement fee$8More expensive
Direct deposit limitN/AThis card doesn’t support direct deposits
ATM withdrawal limitN/AThis card doesn’t support ATM withdrawals
Maximum card balance$10,000This limit is higher than most other cards
Maximum ACH load limit$2,500 per dayThis limit is higher than most other cards
Maximum purchase limit$2,500This 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:

Frequently asked questions

Kids’ debit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top debit cards for kids and rate them one to five stars based on factors that are most important to you. We rate kids’ checking accounts by these factors: Monthly fee, features, ATM access, customer support options, and availability. We also consider APY as a factor only for those that earn interest. We rate prepaid debit cards for kids by these factors: monthly fees, features, customer support options and account availability.

Read the full methodology of how we rate Kids’ debit card accounts.

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Michael Finder

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