Greenlight review

Greenlight takes a monthly fee of $5.99 on the account. That sits above the site median monthly fee of €0 and above the savings ranking median of €0. Fee-free accounts are the norm on the comparison, so this charge is the main thing to weigh.

Savings are covered by deposit protection of FDIC up to USD 250,000. The account runs through Greenlight Financial Technology, Inc., and the US regulators listed against it are the FDIC and the SEC. Balance held above the protection limit is not covered by that scheme.

The reward on Greenlight savings is 2% and the rate type is variable, so it can move with the base rate rather than being locked in. The site median headline rate is 3%, and Greenlight ranks 316 of 473 brands on that measure.

The reward is paid on the average daily savings balance, not on the balance on a single day, and it is capped at a set amount per family. The account also has to be in good standing with a verified ACH funding account, so savings have to be fed from a verified account to earn 2%.

Greenlight is an easy access savings account, so the balance is meant to stay reachable rather than be tied up. The rate is variable and pays 2%, and a monthly fee of $5.99 applies on top of that reward.

Support runs on email, phone and help centre, so help comes by email, phone or through a help centre. The help centre is the place to check the reward conditions, since the average daily balance rule and the good standing requirement both sit in the account terms. Phone support matters most if a transfer is mislaid.

Greenlight pays 2%, while AXI Card Tarjeta y Credito shows 21.59% and Plazo ES shows 24.19%. PayPal Colombia sits closer at 3.3%. Greenlight's trade-off is that the money is held under FDIC up to USD 250,000 of deposit protection.