WELCOME BACK DEBIT CARD FOR KIDS
RECEIVING GREEN LIGHT CARD
MANAGE THEIR CHILDREN ABOUT THES
FROM THEIR PHONES WHILE TEACHING
SALVE JI SPEND AND SMART SAVINGS
JOINING US ROW CEO TIM RATHER
GOOD TO SEE YOU THIS MORNING
THANKS FOR JOINING US.
>> THANKS FOR HAVING ME MARIA.
WE LOVE WHAT YOU'VE DONE ONE OF
THE NEW FEATURES THAT PARENTS
CAN ALLOW ACCESS TO SPECIFIC ATM
MEESHTS WHEN CHILD IS OUT OF
CASH TELL WHAT YOU SAY YOU'RE
PROVIDING HOW THIS IS --
RESONATING.
>> GREEN LIGHT IS TRYING TO HELP
THEY ARE SO BUSY SO TRYING TO
HELP PARENTS RAISE FINANCIALLY
SMART KIDS WE WANT TO TEACH OUR
KIDS YOU KNOW HOW TO SPEND
WISELY, THE IMPORTANCE OF
SAVING, BUT PERHAPS TO GIVE
BACK.
TO LEARN HOW TO INVEST IN ORDER
TO BUILD WEALTH OVER THE
LONG-TERM.
AND SO GREEN LIGHT IS IS ALL
ABOUT TRYING TO HELP PARENT GIVE
PARENTS TOOLS TO DO THAT.
>> YOU SAY YOU'VE HELPED
CHILDREN SAVE MORE THAN 2
MILLION DOLLARS, I WANT YOU TO
TAKE US THROUGH HOW IT WORK BUT
JOHN HOW DO YOU DEAL WITH IT AND
TEACH YOUR CHILDREN TO BE SMART
IN TERMS OF MONEY?
>> OH, WITH GOD I DON'T KNOW.
I DON'T KNOW YOU TALK TO THEM
ABOUT HOW IT WORKS.
[LAUGHTER]
BUT --
I DON'T KNOW IF I'M THE MODEL
FOR TEACHING FINANCIALLY SAVVY
KIDS I WOULD LIKE TO HEAR --
>> GREEN LIGHT DEBIT CARD, WITH
JOHN.
[LAUGHTER]
>> I WOULD LIKE TO HEAR SOL
ADVICE WHAT SHOULD I DO WITH MY
TEENAGERS.
>> SURE, SURE, SURE --
YEAH.
WITH GREEN LIGHT THEY CAN ONE OF
THE NICE THINGS WITH THE SAVINGS
ACCOUNT IS BECAUSE YOU KNOW WITH
THE NORMAL BANK SAVINGS ACCOUNT
THE INTEREST RATES CAN BE, YOU
KNOW, QUITE LOW THESE DAYS
ALTHOUGH THEY'RE RISING.
BUT ONE NICE FEATURE THAT WE'VE
ADDED IS A PARENT PAID INTEREST
RATE, AND SO WHAT IT DOES IS
ALLOWED YOU TO EXAGGERATE THE
POINT TO MAKE THE POINT.
SO YOU CAN SET THE INTEREST RATE
AT, YOU KNOW, 100%, 12%.
YOU KNOW WHENEVER YOU WANT.
AND SO THAT'S WHAT'S REALLY KIND
OF MOTIVATED THE KIDS TO SAVE,
AND AS WE ALL KNOW IF YOU CAN
GET THEM TO KIND OF ASSOCIATE
YOU KNOW A POSITIVE FEELING
ABOUT SAVING THEN THEY'RE GOING
TO CONTINUE THE TO DO SO AS A
HABIT GOING FORWARD.
>> WHAT ARE FEES ASSOCIATED WITH
YOUR PRODUCT AND --
YOU KNOW, HOW THEY CONNECT TO
BANKS THINGS LEAK THAT.
>> YEAH.
WE BASICALLY TRIED TO --
MASSIVELY SIMPLIFY WHOLE FEE
STRUCTURE BECAUSE GREEN LIGHT IS
REALLY LIKE THREE ACCOUNTS ALL
IN ONE.
SO IT'S A MOBILE APP THAT IS
KIND OF PAIRED WITH A DEBIT
CARD.
AND ON THE DEBIT CARD IS A
SPENDING ACCOUNT, A SAVINGS
ACCOUNT, A GIVING ACCOUNT, AND
SOON AN INVESTING ACCOUNT SO IT
WILL BE FOUR ACCOUNTS IN ONE.
BUT THE IDEA IS THAT, YOU CAN
USE THIS SIMPLE METHOD OF PULL
UP MOBILE APP TAP, TAP YOU'VE
INSTANTLY SENT MONEY TO YOUR
KIDS NO NOWHERE THEY ARE THESE
DAYS KIDS ARE INDEPENDENT AT A
MUCH EARLIER AGE YOU KNOW IN
MIDDLE SCHOOL.
DEFINITELY IN HIGH SCHOOL, BUT
IT TENDS TO BE AROUND TIME THEY
GET THEIR FIRST PHONE THEY START
TO SPEND MORE TIME AWAY FROM
THEIR PARENTS WITH THEIR FRIENDS
DOING DIFFERENT THINGS LIKE
THAT.
AND SO YOU'LL HAVE THESE NEEDS
TO BE ABLE TO GIVE THEM MONEY TO
DO CERTAIN THINGS.
WHETHER IT IS ALLOWANCE THAT YOU
PAY WEEKLY OR MONTHLY, OR YOU'RE
JUST GIVING THEM MONEY TO YOU
KNOW FOR SCHOOL EVENT OR
ANYTHING LIKE THAT.
TRAVELING FOR SPORTS TEAM, BUT
THEN YOU ALSO WANT TO TEACH THEM
SMART THINGS LIKE MADE TRADEOFF
DECISIONS TO SAVE OR SUSPEND
LEARN HOW TO INVEST SO YOU CAN
BUILD WEALTH OVER THE LONG-TERM.
>> SO TIM DO YOU DO THIS IN
COORDINATION WITH VISA OR MASTER
KAFERRED OR AMERICAN EXPRESS?
NCHES AMAZON.COM BACKS YOU ONE
OF YOUR PARTNERS.
>> THAT'S RIGHT.
THAT'S RIGHT.
YEAH.
MASTERCARD SO GREEN LIGHT THAT
GREEN LIGHT DEBIT CARD IS A
MASTERCARD.
AND SO --
BACK TO YOUR QUESTION ON FEES WE
TRIED TO MASS OFLY SIMPLIFY IT
SO SIMPLY 99 CENTS PER FAMILY,
PER MONTH, AND SO THAT INCLUDES
ALL A OF THE PARENTS AND UP TO
FIVE KIDS INCLUDED IN THAT PLAN.
>> I LOVE IT I LIKE THE FACT YOU