What happens to your Greenlight accounts when you die

Greenlight Debit Card (Card Account)

Greenlight Prepaid Mastercard issued by Community Federal Savings Bank; funds are held by the bank and FDIC-insured to the applicable limits. The Card Account is in the Primary Accountholder's (parent's) name; children hold Secondary Cards on it. No POD/beneficiary designation is available. Per the Cardholder Agreement (https://greenlight.com/cardholder), when Greenlight becomes aware of the Primary Accountholder's death the Primary Account and every associated Secondary and Supported Adult Account are closed, and unused balances are returned by refund to the Funding Account on file, by paper check to the Primary Accountholder at the mailing address on record, or to a verified law office after receipt of proper legal documentation. Greenlight reserves the right to keep any unused balance under $1.00 as a one-time fee.

Greenlight Savings

General Savings and Savings Goals balances held by Community Federal Savings Bank and FDIC-insured, inside the same Primary Accountholder Card Account relationship. Savings is a feature of the Card Account rather than a separately titled deposit account, so there is no POD or beneficiary designation and no joint titling. On the Primary Accountholder's death the balance is closed out with the Card Account and returned to the Funding Account, by check to the address of record, or to a verified law office with proper legal documentation.

Supported Adult Card Account (Family Shield)

Debit card for an older adult (up to two Supported Adults) on the Family Shield plan, managed by the Primary Accountholder, with fraud and suspicious-activity monitoring, identity-theft and deceptive-transfer-fraud coverage, credit and dark-web monitoring, and caregiver spending alerts (https://greenlight.com/family-shield). Estate consequences run in one direction only: the Supported Adult is a cardholder on the parent-side Primary Account, not an owner. Per the Cardholder Agreement, if a Supported Adult Cardholder dies, that Supported Adult Account is closed and the funds are transferred to the PRIMARY ACCOUNTHOLDER — they do not pass through the Supported Adult's estate, so this is not a place to hold an older relative's savings. The Cardholder Agreement also requires anyone acting on a Supported Adult Cardholder's behalf to give Greenlight a copy of an official document verifying a legal, contractual, or court-ordered right to act (for example a financial power of attorney or guardianship order).