How do I set up an allowance for my child?

From the Allowance tile on the child tab of the Parent Dashboard, parents can set allowances to pay out weekly, bi-weekly, or monthly, on any weekday of their choosing. You can also allocate allowances to transfer to Spend Anywhere, General Savings, or Giving. No need to look for cash on payday! Here’s how to get set up:

  1. Navigate to your child's dashboard and tap on the Allowance tile.
  2. From here, you can enter:
    a) The amount of the allowance.
    b) The frequency the allowance is delivered- weekly, bi-weekly, or monthly.
    c) Where the allowance will be distributed- you can split the allowance between Spend, Save, and Give. The amounts distributed to each category must add up to the total amount you’ve set for your child’s allowance.
  3. Once this information is inputted, click "Save allowance."

Allowances are transferred from the Greenlight Parent's Wallet to the child's card. After you set your allowance, you’ll have the option to turn on Autofunding by connecting one of your bank or debit accounts to guarantee allowances are paid out on time. If you do not have a funding source connected and your Parent's Wallet is empty, the allowance will not be paid out and will be paused.

Please note - You cannot set an allowance to transfer on a specific day of the month (i.e. the 28th or 30th), as there are some months that do not have a 29th, 30th or 31st day. Allowance payments will be added to your child’s card by approximately 6 a.m. EST on the day set for your child’s allowance.

Why do I need to set up a backup funding source?

If you have Allowances turned on, we want to make sure there is a funding source set up so no matter what, the payment goes through to your child as expected. If you do not have money in your Parent's Wallet to transfer, the Autofunding source allows us to pull money directly to transfer to your child for their scheduled allowance payment.

What if I need to turn off recurring allowances I have set up?

If you need to turn off your child’s allowance, you can follow these steps:

  1. Navigate to your child's dashboard and tap on the Allowance tile.
  2. Tap on "Edit allowance."
  3. Navigate to the bottom of the screen and tap on “Delete allowance.”
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