Allowing your kid to access your debit card in your presence has now become necessary to build them financially. However, it is also essential to restrict them to certain negative aspects. To help you along your parental journey and teach your kids about the subject of “money,” Greenlight cards are a superior product. With the Greenlight card, parents can easily teach their children about saving, budgeting, investing, and spending. Moreover, if you are a Venmo user, you get additional benefits from using this card, but before that, let us learn how to use greenlight card on Venmo.
How to use greenlight card on Venmo?
Parents can put money onto the Greenlight card for their children to save and spend. Using the Greenlight app, adults can set specific rules where their kids can make payments, and they will get notifications every time their child uses that card. They can use anywhere, however, even if the Mastercard is accepted, the Greenlight blocks the transactions at specific merchants like dating services, online gaming, lotteries, money or wire orders, etc.
Venmo, on the other hand, is an app for iOS and Android for simple and quick transfers between individuals. Its work is to perform as an intermediary to transfer money from one person’s account to another person’s account. This app is usually marketed as a popular way to reimburse friends for paid rides, split bills, etc.
There is a limit for money that you can transfer to people, which is fixed up to $299.99 per week initially and goes up to $4,999.00 per week once you are a verified user. So, now the question is if Venmo can use Greenlight cards and make it simple for the kids to split bills among their friends while their parents check on them.
How to pay with Venmo using greenlight card?
You cannot use Greenlight Cards directly on Venmo as Greenlight cards do not work with any cash apps. However, there’s a way to overcome this mishap. In other words, one can use Greenlight card for Venmo as a transit spot through the bank account.
Using the mobile app, one has to add a specific bank account to Venmo and Greenlight using the mobile app. To know how to pay with Venmo using greenlight card, here are a few steps to follow:
- Open the Venmo app in your mobile app and log in to your account.
- Press on the balance tab in the app and find the option ‘cash out. Choose it to proceed further.
- Select the amount of cash you want to transfer from your Venmo app to your bank account.
- Select the suitable deposit seed that seems the best to you.
- Finally, follow through with the confirmation at the end of how you set it up.
The Greenlight Process
This money transaction takes place between your Greenlight wallet and the bank account. The wallet in the Greenlight app supports all the greenlight cards you give your children and the ones they have control over.
So, after this, you need to load the amount of money into your Greenlight card that you want to underwrite.
Add funds to your Greenlight Wallet
- Open the Greenlight app on your phone and log into your account.
- Press on the gear-shaped settings icon present on the right side.
- From the menu, choose ‘funding accounts. You can find all of your linked bank accounts if you have more than one account.
- Choose the account you wish to collect the money from.
- If the account is not present, you must add it.
- Find and click on the option “add a funding account.”
- Click on the option “add a bank instantly.”
- Read the rules carefully and click on “get started.”
- Add all the bank credentials that are standardized under your name, like your bank name and details.
- After completing the process, you will go through a verification process via a text or a phone call. There you will get a specific Time Code.
- Be careful and do not share this code with anyone; enter this on the required spot in the app.
- Choose the bank account that you added and click on continue to proceed further.
Add money to a Greenlight Card
- Log into your Greenlight account in the app.
- Find the “parent dashboard” and select ‘child tap’ to access your child’s Greenlight card. If you have more than one, then select the specific child.
- Click on ‘send money that is present right below the name of the child you select.
- As per the rules and regulations for their savings and spending limit, you must put the money in the required category. This will stop your kid from spending too much.
- The final step is to put the amount of money you want to send and click on “move money.”
Thus, a Greenlight debit card does not work directly with Venmo. It is because the founders of the company state it to be unsafe to have children transfer money amongst each other with such ease.
However, if someone wants to Venmo their kids some money, they can do it through the bank account, which requires just a few minutes.
Where can I use my greenlight card?
One can use their Greenlight cards everywhere where the Mastercards are accepted, in-store and online. However, for security reasons, Greenlight cards will not allow us to make some merchant transactions, which seems inappropriate for children.
Can greenlight cards be used at the ATM?
Yes, your kid can use their Greenlight cards at the ATMs with their MasterCard, Maestro name, or Visa. For security reasons, the first transaction of your child cannot be at an ATM. But, once the card is successfully used on an online platform or at any sales register, your child can also withdraw money from the ATM.
Can greenlight cards be used internationally?
Yes, the Greenlight card can be used internationally in many countries, and there are no foreign transaction fees or international fees applied.
Can you use Venmo with greenlight card?
No, one cannot use the Greenlight with the Venmo account to directly transfer money from the app. However, there is a simple and indirect way to involve a bank transfer by adding the specific bank account to the Venmo app and doing the same on the Greenlight app.
What apps work with Greenlight?
The greenlight card is compatible with Apple Pay, Google Pay, and Samsung Pay. However, one must note that kids must be at least 13 years old to equip their Greenlight cards with Google Pay or Apple Pay. You can also add the Greenlight card to your PayPal account and use it to make Paypal purchases.
Can you pay online with a greenlight card?
Yes, one can use their Greenlight cards everywhere where Mastercards are accepted, online and in-store, as long as your parents are good to go with your transactions.