July 9, 2022

How to Transfer Money from Greenlight Card

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Want to transfer money from your Greenlight card? Find out how to withdraw your funds and send them back to your bank, step by step.

Greenlight is a debit card and banking app that helps kids attain financial literacy. The app teaches important money lessons and includes flexible parental controls.

This kid's card makes money management easy and intuitive. But what happens if you want to transfer money from your account?

Check out this guide on how to transfer money. Plus, find out if Greenlight is compatible with Cash App and PayPal.

How to Transfer Money Out of a Greenlight Card

Transferring money from a Greenlight card is a bit trickier than adding money to your account.

There's no way to transfer money by yourself from the app. Instead, you'll have to reach out to customer support to process the refund (i.e., the transfer from the card to your account).

Take a look at this step-by-step guide to transferring money from your Greenlight account.

Transfer Money Back to Your Bank Account

Greenlight allows you to add bank accounts or debit cards as your funding source. If you want to move money back to your funding source, you'll have to reach out via a short form.

A support team will respond to you and process your refund.

Here's how you can contact Greenlight to get your refund:

  1. Go to the online contact form
  2. Fill out your information
  3. Choose "Refund To My Bank"
  4. Include a description of your refund request
  5. A support member will get in contact with you ASAP

How long does it take for Greenlight to transfer money?
It can take up to 7 business days for your money to transfer back to your funding source. If you need the money more quickly, it may be better to visit an ATM and withdraw cash from your Greenlight card.

Transfer Money From a Child's Account to Your Parent's Wallet

You can also move money that's already in your child's Greenlight account back to the parent's wallet.

Here's how to transfer money back to the parent's account:

  1. Go to your kid's "Spend Anywhere" section
  2. Tap the three dots in the top right
  3. Select "Move Money"
  4. Choose the amount and select parent's wallet
  5. Tap "Move Money"

Can You Transfer Money From Greenlight to Cash App?

Cash App doesn't accept prepaid debit cards such as the Greenlight card. You won't be able to use your card to add funds to your Cash App account.

If you absolutely need to transfer funds from Greenlight to Cash App, there is a workaround. But it's a little inconvenient.

You can do so by connecting the same bank account to both Greenlight and PayPal. You can refund money from Greenlight to your bank account by following the step-by-step instructions above. Then, you can transfer money from your bank account to Cash App.

This is a pretty lengthy process. Remember that transferring money from Greenlight to your bank alone can take up to 7 days.

Can You Transfer Money From Greenlight to PayPal?

PayPal allows you to fund your account with a prepaid debit card.

Once you add your Greenlight card to your PayPal account, you can use the card to make PayPal purchases. You can also transfer money from Greenlight and add it to your PayPal balance.

You have to be at least 18 years old to have a PayPal account.

Move Money From Your Child's Account

Your child's Greenlight account has separate sections for spending, saving, giving, and investing money. You can move money between the different spending categories from the parent app.

How to Move Money Out of a Spending Category

  1. Go to the category you want to move money out of
  2. Tap "Move $ Out"
  3. Choose the amount and where you want to move the money
  4. Tap "Move Money"

How to Move Money Into a Spending Category

  1. Go to the category you want to move money into
  2. Tap "Move $ In"
  3. Choose the amount and where you want to move the money from
  4. Tap "Move Money"

How to Move Money to Invest

  1. Go to your child's dashboard
  2. Tap "Investing"
  3. Tap "Cash to Invest"
  4. Tap "Move $ In"
  5. Choose the amount and where you want to move the money from
  6. Tap "Move Money"

Get Cash From Greenlight Account at an ATM

Your child can use their Greenlight card at any ATM that has a Mastercard, Visa Interlink, or Maestro name or logo.

Be sure to check that you've allowed your kid ATM access through the parental controls. You can adjust how much money your child can withdraw from an ATM.

Greenlight also has a maximum daily withdrawal limit of $105/day. The maximum monthly withdrawal limit is $525/mo.[1]

Also, keep in mind that most ATMs charge a fee for each withdrawal. Greenlight doesn't charge any ATM fees itself.[2] But make sure your child has enough money to cover any fees from the ATM owner.

Bottom Line

Greenlight is a great way to teach kids about financial responsibility. The debit card and banking app give kids the freedom to manage their own money. But parents ultimately call the shots with flexible parental controls.

Learn more about the app's pros, cons, and features in our full review of Greenlight.

Or, check out the Greenlight Alternatives for even more ways to teach your child financial skills.

References

  1. ^ Greenlight. Can the Greenlight card be used at an ATM?, Retrieved 5/18/2022
  2. ^ Greenlight. List of all fees for Greenlight Mastercard Prepaid Card, Retrieved 5/18/2022
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Donna Tang is a content associate at CreditDonkey, a bank comparison and reviews website. Write to Donna Tang at donna.tang@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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