How do I transfer money out of my Greenlight account? And other fund transfer FAQs

  • Only the Primary Accountholder may transfer funds out of Greenlight to a bank account 
  • There is no fee for transferring funds from Greenlight to your bank account 
  • You can only transfer funds to a linked bank account. 
  • Funds may take up to 5 business days before they become available for transfer to your bank account

There are two ways to transfer money out of your Greenlight account into your bank account:

1) From the Parent Dashboard 

  • Tap the three dots next to your Parent’s Wallet 
  • Select ‘Transfer to bank account’
  • Enter the dollar amount you’d like to transfer and tap ‘Next’ 
  • Confirm the bank account you’d like to transfer money to and tap ‘Transfer’ 
  •  

2) From the ‘Accounts’ tab 

  • From the menu at the bottom of your screen, tap ‘Accounts’. 
  • Select ‘Transfer to bank account’ 
  • Enter the dollar amount you’d like to transfer and tap ‘Next’. 
  • Confirm the bank account destination, and select ‘Transfer’
    • Once you tap ‘Transfer’ the request cannot be undone 
    • The Transfer will take up to 3 business days to process

After completing a transfer, you will automatically return to your Parent dashboard and should see a notification of transfer. The funds will be debited from your Parent’s Wallet balance immediately and appear in your transaction history as a ‘transfer’ line item marked as ‘posted’.

 

The ‘Available to transfer’ amount is determined by:

  1. You current Parent's Wallet balance 
  2. Any pending deposits reflected in your Parent’s Wallet balance 
  • While these funds may be available immediately for things like moving money to a child, they are not available to transfer out for up to 5 business days 
  1. Account specific limits 
  • Greenlight imposes account-specific limits based on different factors, such as your account history and activity. We cannot disclose these limits due to Risk and Compliance reasons, but as you continue to use the Greenlight app, your transfer limits will increase.

If your ‘Available to transfer’ amount does not match your Parent’s Wallet balance, it’s most likely due to #2 or #3 above.

I have money in my Parent’s Wallet. Why do I see $0 available to transfer?

If you see $0 available to transfer, it’s most likely because your bank account is not yet eligible for transfers out. Your linked and verified bank account will be eligible for transfers after you’ve previously loaded funds from it without any disputes. 


Why haven’t my funds arrived in my bank account yet?

Transfers from your Greenlight account to a linked bank account may take 1-3 business days depending on your financial institution. This type of transfer (known as an ACH transfer) involves several parties, which can delay the transfer. If you don’t see your transfer appear within 1-3 business days (the standard time for a bank to process a transfer request), please contact your banking service provider directly and have them take a look at the status of your account.

Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Community Federal Savings Bank (CFSB), Member FDIC. 


This feature is available to all customers on app version 5.17.0 or later. If you still cannot access this feature, please update your Greenlight app and try again.

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