How do I earn 1% Cash Back on purchases?

Beginning August 1, 2021, Greenlight Max families can earn 1% Cash Back on purchases, deposited into their General Savings every month.*

Don't see this in your app? Make sure you have updated your app to the latest version to see the previous month's Cash Back reward in your child's Savings tab. 

 

How is 1% Cash Back calculated?

Greenlight takes the total of all your posted transactions in the previous calendar month and multiplies it by 0.01 to arrive at your 1% Cash Back payout. Then, we deposit your cash back into your General Savings — automatically. 

What is a posted transaction?

When you swipe your card (or buy something online), your transaction is authorized and you are able to complete your purchase. The transaction will then appear in your spending history as ‘pending.’ However, it can take several days before the transaction clears your account and the money is actually withdrawn and reflected as ‘spent.’ The process of clearing your account is what it means to be posted.

How can I qualify for 1% Cash Back? 

1% Cash Back is only available for Greenlight Max families. In order to qualify, parents must add a bank as a funding account, instead of a debit card. You can do this from the “Funding accounts” page in your Parent Settings. See more here

The parent’s account and all child accounts must also be in “Good Standing.” To be considered in “Good Standing,” (i) the parent must be current on the payment of all monthly fees; and (ii) neither the parent account nor any child account shall have a negative balance.  

 

*Only Greenlight Max families with a verified ACH funding account and a Primary Account in Good Standing are eligible to earn 1% cash back on spending monthly. See Greenlight Terms of Service for details. Subject to change at any time. Earning begins 8/1/2021.

 

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