Morgan Stanley today announced a partnership with Greenlight® Financial Technology, Inc. (“Greenlight”) to bring families an easy, convenient way to teach kids about personal finance.
All Morgan Stanley CashPlus brokerage account holders can now sign up for a complimentary Greenlight subscription, complete with Greenlight debit cards for each child and a companion money app for the whole family.
Greenlight teaches kids and teens invaluable money management skills through its award-winning app and debit card that instills lessons in earning, saving, spending wisely and investing. With Greenlight, parents also have a better way to manage family finances with automatic allowance payment, chores tracking, flexible spend controls and more.
“Many of our Morgan Stanley CashPlus account holders are families looking for a better way to manage their money while continuing to build long-term wealth for their family,” said Paul Halpern, Head of Deposits and Banking Services, Morgan Stanley Private Banking Group. “Greenlight brings our clients a way to also teach their children about the world of money, ensuring the next generation has the knowledge and skills they need for a healthy financial future.”
“Parents know it’s important for their kids and teens to grow up with healthy financial habits, but many don’t know where to start and schools don't always give them the tools they need,” said Tim Sheehan, co-founder and CEO of Greenlight. “Partnering with Morgan Stanley, a global leader in financial services, allows us to bring Greenlight to even more families, empowering parents to raise financially-smart kids.”
Morgan Stanley CashPlus offers clients a modern alternative to banking. CashPlus is designed specifically for cash management needs, while offering a wide range of benefits – from unlimited ATM withdrawals to easy online bill pay to no foreign transaction fees – and a seamless digital experience. Greenlight is the newest benefit now available to all Morgan Stanley CashPlus account holders.
Morgan Stanley's CashPlus account holders will receive Greenlight's $4.99 monthly subscription plan complimentary when they sign up for this program. Once enrolled, a client can add up to five family members to the Greenlight account.