Greenlight vs Charles Schwab Bank
Greenlight is a solid financial literacy app for kids but on the pricey side. How does it compare to Charles Schwab Bank? Read our comparison chart below.
Greenlight is a comprehensive banking app for kids of all ages. It includes a debit card, savings with APY, allowance for chores, financial literacy games, and even investing for kids. Plans range from $4.99 - $14.98 per month for up to 5 kids.
While Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.
Compare Greenlight with Charles Schwab Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Greenlight | Charles Schwab Bank | |
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Greenlight Debit Card for Kids - | High Yield Investor Checking – Unlimited ATM Rebates - | |
Benefits and Features | ||
Savings | 1% savings reward (2% for Greenlight Max, 5% for Greenlight Infinity) on an average daily savings balance of up to $5,000 per family | |
CD | Offers brokered CDs from other banks. Terms range from 1 month to 20 years. Minimum deposit of $1,000. | |
Checking | Debit card up to 5 kids. Greenlight Max and Infinity plans also earn 1% cashback on purchases | 0.45% APY, $0.01 account minimum |
Kids Debit Card | ![]() | |
Customer Service | 24/7 Live Customer Service (Telephone and Chat) | |
Minimum Deposit to Open | ||
Mobile App | ||
ATMs | Any ATM with a Mastercard, Visa Interlink or Maestro name or logo. But the ATM owner may charge a withdrawal fee. | Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide. |
Locations | 345 branches across the country. You may also open an account online. | |
Monthly Fee | Greenlight Core: $4.99 per month Greenlight Max: $9.98 per month Greenlight Infinity: $14.98 per month | |
CreditDonkey® Reviews | ||
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Pros & Cons | Pros:
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Bottom Line | Solid financial literacy app for kids but on the pricey side... | Popular brokerage with a free checking account that refunds ATM fees... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Charles Schwab Bank: Pricing information from published website as of 03/23/2023. |
All Ages - Banking and Invest in One App
- Flexible controls, spending notifications, in-app chore list
- Age: No minimum age
- Fees: Starts at $4.99/month, per family (up to 5 kids). $9.98/month for Greenlight Max. $14.98 per month for Greenlight Infinity.
Greenlight Banking and Educational App for Kids
- Spend, save, invest, and learn all in one app
- Cashback & up to 5% savings rewards
- Investing platform just for kids
- Financial literacy games for the real world
- Starts from $4.99/mo (1-month free trial)
Which is Better: Greenlight or Charles Schwab Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Greenlight or Chase.
In short: Charles Schwab Bank's customer service is notable.