Greenlight
Family banking; chores + parental controls.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner bank (Community Federal).
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Greenlight’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · gen alpha · kids & family |
| HQ | Atlanta, US |
| Founded | 2014 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner bank (Community Federal) |
| Card | MC · Debit |
| Cashback | 1% (plan) |
| Yield | Up to 5% savings (plan) |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Founders | Tim Sheehan, Johnson Cook |
| Funding | ~$550M raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @Greenlightcard ↗
Common questions about Greenlight
What is Greenlight?
Greenlight is a fiat neobank built for gen alpha · kids & family, headquartered in Atlanta, US and founded in 2014. Your money is held custodially, so Greenlight or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner bank (Community Federal)).
Does Greenlight have a card, and where can you use it?
It issues a Mastercard debit card. It is available in North America.
Does Greenlight require KYC?
Yes. Greenlight requires identity verification (KYC) to open an account, as a partner-bank model.
What does Greenlight cost?
From the verified fields: cashback 1% (plan); yield Up to 5% savings (plan). Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Greenlight before relying on them.
Early investors
Head-to-head
Greenlight vs GoHenry · Greenlight vs Step · Greenlight vs Copper · Greenlight vs Till Financial
Peers
Chime · Wise · Varo · Current · SoFi · Ally Bank
Greenlight appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks for kids and family (7) · Neobanks that issue a Mastercard (150) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.