What is Greenlight’s Parent Paid Interest?
Parent paid interest is a tool in the Greenlight app for parents to help teach and encourage kids about saving. The Greenlight app pays out 2% APY on savings, but many parents can voluntarily choose to increase the interest amount to around 15-20% to help demonstrate the importance of savings, allowing their kids to see their savings grow each month. The added interest is paid out from the parent account.
Related Questions
Can you have more than two parents on a Greenlight account?
Can parents control where kids spend their money in the Greenlight app?
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