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Oct. 9 - Greenlight App Expands to Help Kids Save, Donate and Access ATMs

Category: Banking & Finance

Brunswick Business Journal Staff Report

October 9, 2018 - Greenlight Financial Technology, Inc., creator of the smart debit card for children, said it is launching Greenlight 2.0 enabling customers to create savings goals, make ATM cash withdrawals, and designate funds for charitable donations. These features are in addition to existing services such as the Greenlight Educational Savings Account, Automatic Allowances, and the ability for parents to create "greenlights" in which they can choose the exact stores where their kids can spend and how much they can spend.

"As a team of parents, we know that one of the most important things we can teach our kids is how to make good financial decisions," said Tim Sheehan, CEO & Co-Founder of Greenlight. "We're excited and honored to be helping parents across the country teach their kids the importance of earning money, spending it wisely, and saving it. Greenlight 2.0 moves us closer to achieving our mission of helping parents raise financially-smart kids."

Founded in 2014 out of Georgia Tech's Advanced Technology Development Center, Greenlight Financial Technology is a fintech company that's committed to helping parents raise financially-smart kids. Since it launched Greenlight in early 2017, the company's young customers have saved over $2 million.

With Greenlight 2.0, kids can create Savings Goals for specific purposes - like a new bike, phone, game, or trip. This feature helps kids learn to save by enabling them to focus their saving on a specific goal. Greenlight Savings Goals also earn "Parent-paid Interest" which enables parents to incentivize their kids to save their money, helping them build the healthy habit of saving.

With the updated Greenlight 2.0, parents can provide access to ATMs for occasions when their child is in need of cash. Parents can add the "Any ATM" greenlight to set a specific amount that their child can withdraw from any ATM. In addition, parents can still create "greenlights" in which they can choose the exact stores where their kids can spend and how much they can spend.

With the new "Giving" feature, parents can now embrace their kids' compassion and kindness by adding money to their "Give" area, which kids can then use for charitable donations or purchases at non-profit organizations.


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