Fidelity Youth vs. Greenlight: Which money app is right for your teen?

These days, families have more tools than ever to teach kids about money. That’s a great thing, but it also means there are a lot of options to sort through. If you’re comparing Fidelity Youth vs. Greenlight, you’re probably wondering which one actually fits your family’s needs.

Both of these options offer debit cards and apps designed to help young people manage money. But, the way they do it is totally different. Fidelity Youth gives teens real investing power, while Greenlight wraps education, safety, and structure into one family-friendly platform.

Here’s how Greenlight and Fidelity Youth compare so you can pick the app and debit card that’s best for your kids, your wallet, and your peace of mind.

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Features comparison

If you want an all-in-one app that teaches kids of all ages how to earn, save, spend, and even invest, Greenlight has it covered. On the other hand, Fidelity Youth is a free investing and spending account built specifically for teens ages 13 to 17. It’s best for older kids who are ready to manage their own money with a little more independence and less oversight. Here’s a look at how the features compare.

Fidelity Youth at a glance

Fidelity Youth is a brokerage account for teens ages 13 to 17. It gives them the freedom to save, invest, and spend with their own debit card. The account is teen-owned (not custodial), meaning they’re in charge, though parents still have visibility with account and transaction monitoring. In order to open a Fidelity Youth account, parents also need to open a Fidelity account as well. 

Fidelity Youth pros:

• No subscription or account fees

• Teens can invest in stocks and ETFs

• Debit card available

• Learn & Earn program offers $2 rewards per level

• Savings buckets and auto-save features

Fidelity Youth cons:

• No chore tracking or parent-paid interest

• Limited parental controls

• No safety features like location alerts

Greenlight at a glance

Greenlight, the #1 family finance and safety app, gives families a flexible way to teach kids and teens how to manage money. It includes a debit card, spending and saving tools, customizable parental controls, and, on some plans, investing⁸ and advanced safety features. Whether your child is just starting to learn about money or already budgeting for bigger goals, Greenlight adjusts as they grow.

Greenlight pros:

• Built for all ages, not just teens

• Parental controls include approving purchases, blocking stores, and setting limits

• Chore and allowance tracking

• Investing⁸ features with built-in education

• Financial literacy games

• Crash detection⁴, SOS alerts⁴, and theft protection⁵ 

• Up to 6% savings reward¹ and 1% cash back²

• Identity theft and credit monitoring⁶

• Up to $1 million in identity theft coverage⁷

Greenlight cons:

• Monthly fee starting at $5.99

Pricing

Fidelity Youth is free. The only requirement is that the parent has a Fidelity account.

Greenlight starts at $5.99/month and has multiple plans available, depending on the features you want, like investing, crash detection⁴, and family-wide identity theft protection⁵.

Who wins?

If budget is your top concern, Fidelity Youth is a good option. But if you’re looking for a full money-management experience with built-in financial education and safety tools, Greenlight may be worth the monthly cost.

Parental controls

With Fidelity Youth, parents can view their teen’s activity, balances, and statements, but can’t block stores, set spending limits, or approve purchases. Teens are in full control of their accounts.

Fidelity Youth parental control features:

• View account balances and transactions

• Monitor debit card use and trade confirmations

• Pause or cancel debit card at any time

• No ability to block merchants or set spending categories

Greenlight has extensive parental controls, giving parents the ability to manage just about everything: spending by category, store-level controls, real-time notifications, card toggling, and more.

Greenlight parental control features:

• Set spend limits by category or store

• Approve or deny individual purchases

• Turn card on/off instantly

• Receive real-time transaction alerts

Who wins?

Greenlight gives parents more flexibility and peace of mind, especially for younger kids who are still learning.

Earning and saving 

Fidelity Youth gives teens the ability to organize their money with custom savings buckets, helping them work toward short- and long-term goals. They can also enable auto-save to automatically set aside a percentage of any incoming funds. Parents can automate allowance on a weekly, bi-weekly, or custom schedule, though all transfers must come from a linked Fidelity account. Fidelity Youth doesn’t include chore-based rewards or interest incentives.

Fidelity Youth earning and saving features:

• Custom savings buckets for different goals

• Auto-save for automatic savings contributions

• Weekly, bi-weekly, or custom allowance from linked Fidelity account

• No chore tracking or parent-paid interest

Greenlight helps kids earn and save with customizable features that grow with their habits. Parents can assign chores, automate allowance payments, and reward progress with parent-paid interest or rewards. Kids set savings goals and track progress in real-time, building habits as they go. Some plans also include up to 6% annual savings reward¹.

Greenlight earning and saving features:

• Assignable chores with payouts based on completion

• Automated allowance deposits

• Custom savings goals with visual tracking

• Parent-paid interest

• Up to 6% annual savings reward¹

Who wins?

Greenlight makes it easier to build habits and reward behavior. Fidelity Youth works well for teens who are already motivated and independent.

Learn to earn, save, and invest together.

With a debit card of their own, kids and teens learn to spend wisely, keep an eye on balances, and track their spending. Big money dreams? Set savings goals and start investing with as little as $1 — with your approval on every trade.

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Safety features

Fidelity Youth relies on Fidelity’s traditional banking safeguards and SIPC (Securities Investor Protection Corporation) protection. But it doesn’t include teen-focused safety features like real-time location sharing or crash detection alerts.

Fidelity Youth safety features:

• SIPC coverage for brokerage accounts

• Secure digital card management (lock/unlock, replace card)

• Daily debit limits and fraud monitoring

Greenlight offers those safety features and more on its higher-tier plans. These tools are designed to give families peace of mind, especially when kids are starting to gain more independence, whether that’s walking to a friend’s house or driving solo for the first time. With built-in alerts, location tracking⁴, and identity theft protection⁵, parents can stay informed without needing to constantly monitor.

Greenlight safety features:

• Location sharing⁴

• SOS alerts and crash detection⁴

• Identity theft and purchase protection⁵

• Driving reports and alerts for teens⁴

Who wins?

If safety’s high on your priority list, Greenlight is the clear winner. It offers a full suite of protections that go far beyond what most debit card apps provide, especially helpful for parents of younger kids or first-time drivers.

Chores and allowance

Fidelity Youth gives parents the ability to automate allowance payments on a weekly, bi-weekly, or custom schedule, provided the funds are from a linked Fidelity account. Parents can pause or edit payments at any time, and allowances stop automatically when a teen turns 18. While this gives families a consistent method for distributing funds, there’s no task-based chore tracking or built-in earning incentives.

Fidelity Youth chores and allowance features:

• Weekly, bi-weekly, or custom recurring transfers

• Pause or edit transfers at any time

• Allowance stops automatically when teens turn 18

• No chore tracking, tasks, or rewards-based tools

Greenlight includes full chore and allowance tracking in the app. Parents can create task lists, set values for completion, and automate payouts. Kids and teens can check off chores, monitor their earnings, and see the direct impact of their efforts. It’s a more engaging, interactive way to build money skills tied to responsibility.

Greenlight chores and allowance features:

• Assign and manage chore lists in-app

• Set payout values for each task

• Automate allowance deposits based on chore completion

• Customizable rules by child or age group

Who wins?

Greenlight offers a more hands-on approach with chore-based learning and flexible allowance tools. Fidelity Youth offers a straightforward recurring transfer option.

The chore app that checks all the boxes.

Chores. Allowance. They’re different for every family. That’s why we let you call the shots. Want to tie allowance to chores? Pay a percentage based on chore progress — or only if they’re all done. Prefer not to? Your house. Your rules.

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Investing

Fidelity Youth is a real brokerage account where teens can invest in U.S. stocks, ETFs, and Fidelity Basket Portfolios without commissions or account minimums.

Fidelity Youth investing features:

• Teen-owned brokerage account

• Commission-free trades on U.S. stocks and ETFs

• Fractional shares available (start with as little as $1)

• Fidelity Basket Portfolios for diversification

• No parental approval required for trades

Greenlight offers investing through select plans, with parental approval and educational support to help kids get started safely.

Greenlight investing features:

• Investing for Kids available on Max, Infinity, and Family Shield plans

• Parent must approve every trade

• Commission-free trades on U.S. stocks and ETFs

• Kids and teens can start investing with as little as $1

• Includes educational content and stock research tools

• Kid-friendly interface for learning how to build a portfolio

Who wins?

Fidelity Youth is best for older teens ready to make investing decisions. Greenlight is better for beginners who need a little more investing guidance.

Educational features

Fidelity Youth includes a Learn & Earn program where teens earn $2 per completed module. The content focuses on budgeting, saving, and investing basics.

Fidelity Youth educational features:

• Learn & Earn module-based learning

• $2 reward per completed lesson

• Covers saving, budgeting, and investing basics

Greenlight includes LevelUp™, an interactive game with quizzes, challenges, and real-world financial scenarios tailored by age.

Greenlight educational features:

• LevelUp™ financial literacy game

• Interactive quizzes and real-life money scenarios

• Lessons adjust by age group

• Covers budgeting, investing, credit, and more

Who wins?

Greenlight stands out with its built-in, age-based education. But Fidelity’s cash rewards may be just the motivation some teens need.

Fidelity Youth vs. Greenlight: Which one fits your family?

Greenlight is ideal for families who want to go beyond the basics. It’s built to teach kids how to spend, save, earn, give, and invest while keeping parents in the loop with full control and added safety.

Fidelity Youth may be a better fit for families with older teens who want a basic, no-fee account that offers investing and more independence, especially if your family already uses Fidelity.

Built for them. And for you.

Both you and your kids download the Greenlight app — with tailored experiences. They check off chores, you automate allowance. They spend wisely, you set flexible controls. They build healthy financial habits, and you cheer them on.

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