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green dot balance inquiry

Cardholders can also check their account balance online, pay bills or send money to friends with a Green Dot account. But if you use cash. RushCard prepaid Visa card. Unlimited by Green Dot Bank Check your balance, view transactions, find free ATMs,4 deposit funds from approved checks,3. Deposits under any of these trade names are deposits with a single FDIC-insured bank, Green Dot Bank, and are aggregated for deposit insurance coverage. © 2021.
green dot balance inquiry

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Green Dot Bank: 2% Debit Card + 2% Savings Account?

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The emergence of new types of consumers and the acceptance of prepaid financial services post-recession are driving banks to enter the lucrative prepaid debit card industry, a business traditionally dominated by alternative financial services companies such as Green Dot Corp. and Western Union Co.

Prepaid cards typically work like a Visa- or MasterCard-issued debit card but don’t draw from a bank account. The card has whatever balance the holder puts on it. Unlike a gift card or a rebate card issued by a retailer, the prepaid credit card can be reloaded at any time.

General-use prepaid cards, a recent outgrowth of the store-specific gift card industry, have gained popularity in recent years, so much so that the amount loaded onto prepaid cards is expected to top $81.8 billion this year, according to the Mercator Research Group.

Tim Sloane, director of Mercator Research Group, said card use will jump to $116.9 billion next year and to $167.2 billion in 2014. He said consumer demand is driving growth in the prepaid market because "they like the control it gives them over budgeting and spending."

Those numbers have attracted the attention of such mainstream brands as J.P. Morgan Chase & Co., U.S. Bancorp, and Wells Fargo & Co as they look for new revenue sources to offset a recently implemented federal law restricting fees on other consumer loan products.

The Durbin Amendment, part of the Wall Street Reform and Consumer Protection Act of 2010, took effect in October. It reduced the interchange fees banks can charge merchants when a consumer swipes a debit card.

The Federal Reserve settled on a maximum fee of 21 cents plus 0.05 percent of the transaction amount, which worked out to about 24 cents on the average debit purchase. The previous fee was 44 cents per swipe.

The rules included an exemption for many types of prepaid cards. Those products can still earn the higher fees from merchants.

But fee income isn’t the only force driving traditional banks into the prepaid card industry.

American Express Co., which has traditionally pitched credit cards to affluent customers, now pushes prepaid cards as a way to broaden its customer base. The company recently struck deals with Target Corp., Office Depot Inc. and Barnes & Noble Inc. to offer its prepaid cards in stores.

PayPal recently introduced its own prepaid card that can be linked to a consumer’s online account.

"It’s very much seen as a growth product," said Greg McBride, senior financial analyst with Bankrate.com. "A lot of banks are getting into the prepaid because of that growth potential."

Consumers are increasingly embracing prepaid cards as they realize the plastic is useful for transactions beyond basic ATM withdrawals and point-of-sale purchasing. Some are able to avoid establishing traditional bank checking and saving accounts while still having access to banking services such as online bill pay and debit card purchases. Some prepaid card issuers also allow customers to reload through regular paycheck direct-deposit.

A study conducted by Javelin Strategy & Research found 13 percent of adults in the U.S. used prepaid financial services last year, up from 11 percent in 2010.

While prepaid use increases, the same study found declining use of bank accounts and traditional credit cards. According to Javelin, 88 percent of consumers maintained checking accounts in 2011, down from 92 percent in 2010.

Sixty-seven percent of consumers, meanwhile, had credit cards last year, down from 74 percent in 2010.

PRODUCTS FOR THE GREAT UNBANKED

Traditionally, banks concentrated on offering credit cards, while "alternative lenders" such as Green Dot and NetSpend offer products to lower-income consumers who usually are unbanked or underbanked.

But that business model is changing rapidly in the post-recession economy.

J.P. Morgan Chase and Wells Fargo are just two traditional banks now marketing their cards to individuals whose assets and credit scores have been hit hard by sinking home values or other financial challenges.

"Our main customer for the Chase Liquid card is a consumer who wants a checking account, but can’t get one," said Gary Kishner, vice president of media relations at Chase in Los Angeles. "It’s a graduation product. A way to show they are responsible before moving on to a traditional checking product."

Bank-issued prepaid cards give those consumers a way to pay their bills at a lower cost than services offered by check-cashing stores, payday lenders and some big-box retailers.

The Federal Deposit Insurance Corp. defines unbanked consumers as those without access to mainstream financial products such as bank accounts and low-interest loans. The underbanked might have access to a bank account but rely more on costly alternatives.

The FDIC says 9 million adults in the U.S. are classified as unbanked while 21 million are considered underbanked.

McBride said demand for prepaid cards is broader than most consumers and bank executives realize.

"It’s a demographic that is not confined to the unbanked or low-income consumer, but there have been notable increases in usage by middle-class and high-income consumers," he said.

McBride said high-end consumers use the cards for budgeting purposes and in some cases as an alternative to giving a traditional credit card to children.

NUMBER OF USERS POISED TO GROW

As more banks and even credit unions launch prepaid cards, analysts say, the prepaid user base will continue to grow and become more diverse.

"We see prepaid moving up from a low-income product," Tal Clark, vice president of Prepaid and Advanced Marketing Solutions at First Data, said Monday at the Prepaid Press Expo at Paris Las Vegas.

Most major banks with branches in Las Vegas already offer prepaid cards. Wells Fargo offers the Stagecoach prepaid card, which costs $2.50 a month, with no activation fee, no ATM balance inquiry fee and one free withdrawal per month. Then it’s a $1.50 fee for each additional withdrawal.

U.S. Bank’s Convenient Cash Card costs $3 a month, with a $3 card activation fee, no ATM withdrawal fee, and no fee for balance inquiries at U.S. Bank ATMs. The Chase Liquid prepaid card only charges a $4.95 monthly fee.

McBride said bank-issued prepaid cards benefit from large branch and ATM networks and more transparency in their fee structures than those issued by alternative financial services companies. He said greater price transparency ultimately will "weed out a lot of the high-priced cards in the market."

It’s also about getting bank prepaid cards in front of a larger audience.

Sloane of Mercator Research said banks will have to sell their cards at retail locations to appeal to more consumers. Sloane doubted Walmart would carry Chase or Bank of America prepaid cards, but large pharmacy chains, electronics stores and other well-known retailers present a real opportunity to reach more consumers.

A Mercator Research Group survey of the availability of prepaid cards sales in Stockton, Calif., found Bank of America’s cards were available at three branches, while Green Dot cards were on sale at 14 locations. Sloane said to reach low- to moderate-income consumers, banks need to move beyond the branch.

At Chase, the Liquid card is offered exclusively through 5,500 branches. Kishner said Chase has no plans to offer the cards in other retail locations. He said the bank has received a "positive response" to its Liquid prepaid card since its launch in July.

PARTICIPATION NOT WITHOUT RISK

As a relatively new financial product, prepaid cards are subject to few regulations, and the most common complaint about them has been outrageous fees charged by some providers.

That soon might change as federal regulators look to rein in a fast-growing and popular industry. The Consumer Financial Protection Bureau recently took public comment on how to make fees and terms transparent while also ensuring that consumers’ money is safe on the plastic. The agency has not said when it will make public the proposed regulations it is now drafting.

One big difference between prepaid cards and credit cards is consumer protection: the money is not always insured by the Federal Deposit Insurance Corp., which backs bank deposits.

Richard Cordray, director of the CFPB, said the focus of any regulation will be on "safety and transparency" in the prepaid card market.

"We believe that innovation can bring great benefits to consumers and can provide those outside the traditional banking system with access to financial products that meet their needs," Cordray said in a statement.

Among the areas are disclosure and fees. This information is often tucked inside the card’s packaging, so consumers aren’t always aware of transaction fees, general terms or whether their card is FDIC insured until after they buy it.

The federal agency also wants to know how consumers are protected against unauthorized transactions. There’s a limit on how much a credit or debit cardholder ends up owning if a card is used without their permission. Prepaid card issuers might voluntarily extend similar protection, but the CFPB might require all to do so.

Contact reporter Chris Sieroty at [email protected] journal.com or 702-477-3893.

Источник: https://www.reviewjournal.com/business/prepaid-debit-cards-growing-in-popularity/

Green Dot Prepaid Everyday Mastercard

Green Dot Prepaid Everyday Mastercard Review

The Green Dot Prepaid Everyday Mastercard is designed for consumers who want the convenience of paying with plastic but don’t want (or don’t qualify) for a regular credit card. Prepaid cards only allow you to spend money already in your account. So you can avoid interest payments, bounced checks, or overdraft fees.

Green Dot Prepaid Everyday Mastercard does not require a credit check, so approval is guaranteed. However, it will not help you build credit and some online merchants don't accept prepaid cards.

Green Dot Prepaid Everyday Mastercard Pros & Cons

The GoodThe Bad
  • There is no fee for loading your card
  • No PIN purchase transaction fee
  • The monthly fee can be waived by connecting direct deposit.
  • Charges a monthly maintenance fee of up to $7.95.
  • Charges a $1.95 signature purchase transaction fee
  • No fee free ATMs

Green Dot Prepaid Everyday Mastercard FAQ

Who issues Green Dot Prepaid Everyday Mastercard?

Green Dot Prepaid Everyday Mastercard is issued by Green Dot Bank, which is based in Pasadena, CA and was founded in 1999.

What fees does Green Dot Prepaid Everyday Mastercard charge?

Green Dot Prepaid Everyday Mastercard charges a monthly fee of up to $7.95. There is a signature transaction fee of $1.95 every time a merchant requires signature-based authentification.

Description
ATM Balance Inquiry$0.50
Activation Fee$1.95
Card Replacement Fee$5
Close Account Fee$0
Card Reload Fee$4.95 - $5.95
Signature Purchase Transaction Fee$1.95

How Much Does Green Dot Prepaid Everyday Mastercard Cost?

Green Dot Bank charges a $1.95 fee when you first activate the card.

Notice this card charges a monthly maintenance fee of up to $7.95.

There is a reload fee of up to $5.95 fee every time you reload the card.

Does Green Dot Prepaid Everyday Mastercard charge an activation fee?

Green Dot Prepaid Everyday Mastercard charges an activation fee of $1.95.

What is the daily ATM withdrawal for Green Dot Prepaid Everyday Mastercard?

Green Dot Prepaid Everyday Mastercard has a daily ATM withdrawal limit of $2,999.

What is daily direct deposit limit for Green Dot Prepaid Everyday Mastercard?

Green Dot Prepaid Everyday Mastercard sets a daily direct deposit limit of $2,500.

What is the Card Replacement Fee for Green Dot Prepaid Everyday Mastercard?

You will need to pay $5, if you need a card replacement.

What is the Maximum Balance for Green Dot Prepaid Everyday Mastercard?

The maximum balance you can have on Green Dot Prepaid Everyday Mastercard is $10,000. If you are often close to the maximum balance, it may be time to put your money to work and deposit it in an account that yields interest, such as a savings account, a CD, or a money market account.

How to apply for Green Dot Prepaid Everyday Mastercard

  • Visit the Green Dot Bank website.
  • Fill in the application form. Some prepaid cards require you to provide some personal information, such as your full name, address, date of birth, email, and SSN.
  • Check the information is accurate and submit your application.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Green Dot Prepaid Everyday Mastercard

Источник: https://www.supermoney.com/reviews/prepaid-cards/green-dot-prepaid-everyday-debit-card

How to Check the Balance on a Green Dot Card

Image Credit: bernie_photo/iStock/GettyImages

Green Dot issues a variety of prepaid debit cards that you might purchase at a local store or obtain through a tax preparer as an alternative to direct deposit for your refund. These cards can come with fees for things like inactivity, ATM transactions and monthly maintenance alongside any money spent for purchases or withdrawals. So, you'll want to closely track your balance and reload your card as needed. You can easily check your Green Dot card balance for free through the company's website, app, automated phone system or text alerts as well as visiting a local ATM for a fee.

Getting a Green Dot Account

To easily check your balance and manage your Green Dot card through the company's app and online, you need an online account. If you don't already have one, visit the Green Dot website and click the "Log In" button to access the "Account Login" page. You'll find a "Create Online User ID" link to set up an account. Alternatively, you can find a "Create One Now" option on the home screen of the Green Dot mobile app.

When you access the account creation form, you'll first need to enter your card's number, security code and expiration date. Follow the steps to provide your birth date, zip code and your Social Security number's last four digits. You'll then get prompted to set up your account credentials, provide your email address and choose security questions.

Green Dot will ask you to make sure your account information looks correct. You can confirm and get ready to manage your account online.

Checking Through the Website and App

Once you have your Green Dot login information, you can log in to the website and see your card balance immediately and prominently on the page. You can also scroll through recent transactions to see purchases, deposits and fees you've incurred. Green Dot makes it easy to switch between periods and filter transactions by type as well. You'll also find a link to report any transactions that don't look right.

If you want a convenient way to check your balance on your phone, you can download the Green Dot - Mobile Banking app through Google Play or the Apple App Store. As with the website, you can log in and immediately see your balance and account history. However, the mobile app has a "Slide for Balance" option that lets you see your balance without signing in. The first time you try this, you'll see a prompt to enable the feature and will need to log in once for security purposes.

Checking Balance by Phone

Another option you have involves sending a text message to the Green Dot short code, which is 43411. You can simply send a message saying "BAL" followed by your card's last four digits to get a message with the balance immediately. You can follow up with "HIST" followed by your card's last four digits for transaction information. Keep in mind that you'll need to have set up your mobile number in your Green Dot online account before you can use the text option.

When you want to get your balance without making a Green Dot online account, you can dial 866-795-7597 to access the automated system. You'll press "2" to proceed and need to enter either your Social Security number or card number to look up your account. You'll then get a prompt for your birth date and will need to confirm it by pressing "1." Once the system has found your account, you'll get prompts to take actions such as get your current balance.

Checking Your Balance at an ATM

If you don't mind paying a fee, you can find a nearby ATM that you can visit and check your Green Dot card balance or withdraw money. You'll need to have both your card and personal identification number handy. Before doing a balance inquiry, check with your card's documents online to see which fees will apply.

Keep in mind that the ATM owner may also charge you another surcharge, so using the other balance methods mentioned can save you some cash and offer more convenience.

Источник: https://www.sapling.com/6506770/check-balance-green-dot-card

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We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.

Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.

ProsCons
No credit check requiredCash reloads cost money
Free payroll direct deposits and easy check depositsMonthly fee of $7.95 when not waived
Monthly fee may be waived if you load at least $1,000 onto the card in a monthly period 
Online bill pay 
Building credit? Explore Secured Credit Cards Now

What you need to know about Green Dot prepaid cards

Take note: Depending on where you apply for this card, you may wind up with a Visa or a Mastercard. Luckily, both types of cards are accepted at a lot of different merchants.

No credit check

People may turn to prepaid debit cards if they’re unable or unwilling to open a bank account.

If your banking history is preventing you from opening a checking account, you’ll be happy to know that there’s no credit check requirement for the Green Dot Prepaid Mastercard® or Visa®.

Free payroll direct deposits and easy check deposits

If you want a prepaid debit card that you can use to set up payroll direct deposits, the Green Dot Prepaid Visa® or Mastercard® is a stellar choice.

Not only does this card offer payroll direct deposits for free, but cardholders may even be able access their money early. As soon as Green Dot gets notice that you’re receiving money, it won’t hold onto it like other banks may. Instead, the bank will go ahead and deposit the money into your account.

Mobile check deposits are also available via the Green Dot iPhone or Android mobile apps, making the process easy. Simply use your smartphone to take a picture of the front and back of your check, and the money should be loaded onto your card.

Helpful online features

Being able to check your balance and pay your bills online are two of the most convenient features of checking accounts.

You can do both with the Green Dot Prepaid Mastercard® or Visa®. You can check your account status online anytime and can even set up low-balance alerts.

And although you can pay to get paper checks for your Green Dot account, you may not need them. Scheduling bill payments or even sending money to friends with a Green Dot account can all be done for free with Green Dot’s online bill pay service.

Monthly fee is high, but may be waived

While the Green Dot cards don’t charge any overdraft or transaction fees, they do come with a $7.95 monthly usage fee. When compared to other prepaid cards, Green Dot’s monthly charge definitely falls on the high end.

But if you load at least $1,000 on the card in the previous monthly period, Green Dot waives the charge for that month.

If you think that you’ll regularly be loading $1,000 or more onto your Green Dot Prepaid Mastercard® or Visa® each month, it could be a great option. But if you don’t think that’s realistic, you might want to find a prepaid card with a lower monthly charge

Cash transactions can be difficult and expensive

So far, we’ve spent a lot of time talking about things like direct deposits, mobile check deposits and online bill pay. But what if you want to use good old-fashioned cash to load money onto your Green Dot Prepaid Mastercard® or Visa®?

Unfortunately, this is where the Green Dot Prepaid Mastercard® or Visa® falls short. Green Dot charges a painful $5.95 fee for cash reloads, depending on where you get it reloaded.

Withdrawing cash can pricey, too. You’ll need to check the app to see which ATMs are free to use, if you want to avoid charges.

Building credit? Explore Secured Credit Cards Now

What else you need to know

  • Paper checks (pack of 12) can be purchased for a $5.95 fee.
  • If you lose your Green Dot Mastercard® or Visa®, you’ll be charged a card replacement fee of $5.
  • If using your Green Dot prepaid card overseas, a 3% foreign transaction fee will be added to all of your purchases.

Who this card is good for

The Green Dot Prepaid Visa® or Mastercard® is best for those who rarely use cash. If you get paid via direct deposit and use a card for most daily transactions, then this card could be a great choice.

You may also find it a good option if you’re looking for a prepaid card to pay bills online or send money to friends. But if you get paid with cash or need to withdraw cash often, you’ll quickly pile up a lot of fees with this card.

Finally, if you don’t think you’ll load at least $1,000 onto your Green Dot Prepaid Mastercard® or Visa® each month, you may want to find a prepaid card that comes with a lower monthly charge.

Building credit? Explore Secured Credit Cards Now

About the author: Clint Proctor is a freelance writer and founder of WalletWiseGuy.com, where he writes about how students and millennials can win with money. When he’s away from his keyboard, he enjoys drinking coffee, traveling, obse… Read more.

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Источник: https://www.creditkarma.com/credit-cards/i/green-dot-prepaid

$7.95

Monthly maintenance fee

Details

Card typeDebit
Card networkVisa,Mastercard
Monthly fee$7.95

Review by

Rhys Subitch

[email protected]

Rhys Subitch is the loans editor at Finder, guiding Americans toward smart borrowing decisions. With over half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info in the lending sphere. They make frequent appearances on Finder's YouTube channel to talk through loan topics that range from the very basics to the latest government assistance programs. Before specializing in lending, Rhys was a personal finance writer for Finder’s credit cards, insurance, banking and mortgage verticals. They hold a BA in sociology and a certificate in editing from the University of Washington, Seattle.

Expert review

If you’re looking for a straightforward prepaid card that supports early direct deposits, the Green Dot Prepaid Card is an ideal choice. It has a waivable monthly fee and the option to receive extra benefits as a VIP member. But you can’t apply for this card online. The only way you can find it is in-store at a participating retailer.

As with most prepaid cards, you’ll want to be cautious of the various account-related fees. They can add up quickly if you’re not aware of how to avoid them.

The Green Dot Prepaid Card has a $10,000 maximum balance limit, a $3,000 daily spending limit and a $400 daily ATM withdrawal limit — all of which are onpar with other prepaid cards. Its website states the following fees, but more charges may apply based on how you use the card.

Initial purchase$1.95
Monthly usage$7.95
Cash deposit with a retail partner$5.95
Moneypak deposit$5.95
Teller withdrawal$3
ATM withdrawal$3
ATM balance inquiry$0.50
Pack of 12 paper checks$5.95
Card replacement, regular delivery$5
Card replacement, expedited delivery$15
VIP upgrade$4.95

If you want a prepaid debit card with minimal to no fees, you’ll want to keep looking. As always, compare your options when choosing a prepaid debit card.

The Green Dot Prepaid Card is only available at retail-partner locations, so you won’t be able to order it online. To find the location closest to you, follow these steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Green Dot website, click Other products, then Prepaid card.
  3. Scroll down to the Green Dot Prepaid Visa Card and click Learn More.
  4. Select Find Location.
  5. Enter your location or enable location finder.

Eligibility

    To register your Green Dot Prepaid Card you must be:
  • At least 18 years old.
  • Have a Social Security number.

Required information

Have the following ready before you register your card online:

  • Full name, residential address and mobile phone number
  • Date of birth and Social Security number
  • Possibly a state or federal ID, such as a driver’s license or passport

Green Dot offers prepaid Visa and Mastercard options that you can manage easily on the go. You’ll have access to its mobile app where you can transfer money and deposit checks, in addition to the following features:

  • Avoidable monthly fee. Green Dot waives the monthly fee when you load at least $1,000 on your card the previous month.
  • Early direct deposit. You could receive your paycheck up to two days early when you sign up for direct deposit with this card.
  • No overdraft fees. You’re protected from overdraft fees, but you’re still responsible for any negative balances you incur. The monthly maintenance fee applies even if you’re at or under a zero balance.
  • No credit check. Green Dot won’t run a credit check, so you can rest assured that your score won’t take a hit when you register your card.
  • Checks available. You can order checks for a fee.
  • VIP benefits. For an additional fee, you can join Green Dot’s VIP program and receive additional benefits — including ATM-fee waivers, priority customer service and expedited card replacement.

While the Green Dot prepaid card has some enticing benefits, it’s less than perfect. Make sure you consider these drawbacks:

  • Not available for purchase online. You’ll have to go to a local retailer to purchase the card.
  • Monthly maintenance fee. Every month you don’t make $1,000 in deposits, your account is subject to a $7.95 maintenance fee.
  • Regular fees can eat into your hard-earned cash. Withdrawals by ATM or teller, cash deposits and checking your balance at an ATM will all cost you.
  • Withdrawal limits. You’re limited to $500 daily in withdrawals.
  • Not travel-friendly. Each international purchase comes with a foreign transaction fee equal to 3% of the transaction.

You can load your Green Dot prepaid card in several ways, including:

  • Moneypak. Use Moneypak to load between $20 and $500 for a flat $5.95 fee.
  • Direct deposit. Sign up for direct deposit to your prepaid card for free.
  • Check. Deposit checks using the mobile app. Fees may apply.
  • Cash. Deposit cash at a retail partner for a fee.
  • Bank transfer. Transfer money directly from your bank for free.

Get the most out of your Green Dot Prepaid Card by taking advantage of all its features.

  • Register the card online. Go to the Green Dot website and register your card and access additional features, including access to the mobile app.
  • Meet the monthly fee waiver minimum. Deposit at least $1,000 each month to avoid paying the monthly service fee.
  • Sign up for direct deposit. If you plan on using direct deposit, you can get your account information quickly from the Green Dot website once you create your online account.
  • Contact customer service. Any account-related questions can be addressed by calling the number on the back of your card or 866-795-7597. You can also send Green Dot a message over Twitter @greendotcards.
  • To receive a personalized card, register the one you bought online. You’ll need to submit some personal information that Green Dot will verify before sending you the new card.

  • You’ll need to get a personalized card before you can order checks. Once you have your personalized card, log in to your account to request a book of 12.

Источник: https://www.finder.com/green-dot-prepaid-card

How to Check My Green Dot Amount

Green Dot offers prepaid debit cards that are similar to using a traditional bank account. You can check your Green Dot balance in a variety of ways, including by text message or using a smartphone app. If you prefer to speak to a person, you can call Green Dot customer service with any questions.

Checking Your Balance By Text Message

You can check the balance on your Green Dot account by sending a text message to a special number once you've registered your phone number with the company. You can text "HELP" to the special number 43411 to learn how to get balance information from Green Dot by text message. Green Dot doesn't charge for this service, though your cell phone provider might charge, depending on your texting plan.

You can also configure your account to send you automatic text message alerts every day or every week when you receive a direct deposit or when your balance drops below a certain threshold. This can be useful for knowing when you've gotten paid, as well as keeping track of your balance as you use the card.

The text message service can also provide you with information about your most recent transactions or tell you about nearby places where you can add money to your Green Dot account. If you prefer, you can receive alerts sent to your email address instead of alerts sent to your phone by text message.

Using Smartphone Apps

You can also access your Green Dot balance information using the company's smartphone apps, which are available for iPhone and Android devices. The apps also enable you to see your transaction history at any time or to deposit checks by using your smartphone to take a picture of them.

Reloading Your Card

If you find your balance is running low, you can add money to your account in a variety of ways. You can receive a direct deposit from your employer or have your tax refund or federal benefits, such as Social Security payments, credited to the account.

You can also transfer funds from a traditional bank account. The bank may charge for this, but Green Dot will not. If you prefer working with paper checks, you can also deposit these to your account by taking a picture of them. You can also deposit some checks at a Walmart store, including government or payroll checks.

You can also buy a prepaid card called a MoneyPak at a retail store and use this to add money to your account or visit a store that supports adding money directly to your account at the register. A list is available on the Green Dot website and the mobile apps.

Calling Customer Service

If you have any questions you want to direct to a person, or if you need to dispute a charge on your account, you can also call Green Dot customer care by dialing 1-866-795-7597.

References

Writer Bio

Steven Melendez is an independent journalist with a background in technology and business. He has written for a variety of business publications including Fast Company, the Wall Street Journal, Innovation Leader and Ad Age. He was awarded the Knight Foundation scholarship to Northwestern University's Medill School of Journalism.

Источник: https://budgeting.thenest.com/check-green-dot-amount-23627.html
green dot balance inquiry

The Uber Debit Card—save money on your expenses¹

This exclusive checking account from GoBank makes everyday spending surprisingly rewarding. Save on all of life’s expenses when you earn Cash Back on your purchases¹—all with no minimum balances, overdraft charges, or monthly fees.²

All purchases

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Exxon and Mobil

3% cash back at Exxon and Mobil stations³

Advance Auto Parts

10% cash back at Advance Auto⁴ and participating Carquest locations⁴

Jiffy Lube

15% discount on green dot balance inquiry services at Jiffy Lube applied when you show the technician your Uber Debit Card at checkout.⁵

Neither Green Dot Bank nor Uber is affiliated in any way with any of the merchants in this program and does not provide and is not responsible for their products or services.

Say goodbye to traditional fees

It’s everything you want from a checking account—no minimum balance requirements; no overdraft charges; and no setup, annual, or monthly fees. Other fees may apply. Learn more about the account here.

Free Instant Pay

Cash out free, up to 5 times per day.

Free, convenient ATMs

Get cash when you need it from GoBank’s network of ATMs. Green dot balance inquiry apply with out-of-network ATMs.

Backup Balance has you covered

There won't be any penalties if you overdraft your account by up to $100. Payments for such overdrafts will be deducted from future deposits. Restrictions apply. Subject to eligibility requirements. Learn more about Backup Balance here.

Already have the Uber Debit Card?

You’re in luck—adding rewards to your existing card is easy! Simply open your GoBank app to accept new terms. Keep using the card you already have and enjoy your new perks like Cash Back at participating merchants.

Frequently asked questions

  • Is this a credit card or a debit card?

    This is a debit card and checking account powered by GoBank. You must open a GoBank checking account to receive the Uber Debit Card. Swipe the card at purchase to earn Cash Back rewards and get discounts at participating merchants. Opt-in is required. For a list of merchants and more details about how to earn Cash Back, tap here.

  • Does this require a credit check?

    No, there are no credit checks. Anyone is welcome to apply, and most people will be approved within minutes. ID verification is required.

  • I have the Uber Debit Card. How do I switch to this card?

    There’s no need to switch cards—just opt in to the rewards program! Log in to your GoBank account, either online or in the GoBank app, and follow the directions that appear on-screen to add rewards.

  • I have the Uber Fuel Card. How do I switch to this card?

    Eligible drivers can simply visit the sign-up page to get the Uber Debit Card. It will only take a few minutes. The Fuel Card will be discontinued on April 20, 2018, so open an account before then to keep saving money at the pump.

  • How do I open an account?

    Opening an account is easy and quick. Visit the sign-up page to get started now.

  • How do I use my checking account?

    Learn more about GoBank account features by visiting the GoBank FAQ page. Fees and limits may apply. Learn more here.

  • How does Backup Balance work?

    If you have qualified for and unlocked Backup Balance, there won't be any penalties if you overdraft your account by up to $100. Payments for such overdrafts will be deducted from future deposits. Learn more about eligibility requirements here.

    For example, a $100 deposit on a -$25 balance would give you an account balance of $75. Paying back the negative balance is the responsibility of the driver.

    If you are not qualified for Backup Balance and try to charge more than your account balance, the payment method will be declined.

  • Does everyone qualify for Backup Balance?

    To unlock the Backup Balance feature, you must deposit at least $1000 into your Uber Debit Card from GoBank each month (last 30 days) and opt into data sharing with Uber. Eligible deposits include Uber earnings deposited into your GoBank account, direct deposits from other sources, or funds transferred from an outside bank account. Once you’ve unlocked Backup Balance, you will have access to the feature for 30 days. If you deposit at least $1000 into your GoBank account within those 30 days, you’ll maintain access; if not, you’ll regain access once you’ve deposited at least $1000 into your account again.

  • How do I earn Cash Back? How does it work?

    The Uber Debit Card puts money back in your checking account after you swipe your card at participating retailers. This process is automatic. Cash Back will be promptly added to your account, however, it may take up to 7 business days to appear.

  • How do I get my discount at Jiffy Lube?

    During your first visit, identify yourself as a driver or delivery person with Uber by showing the technician your Uber Debit Card. Before you swipe your card, technicians will apply a 15% discount to select automotive maintenance services including oil changes, transmission fluid exchange, tire rotation, and more. The discount will be automatically applied during future visits when you choose to pay with your Uber Debit Card. No appointment necessary. Learn more about additional restrictions and requirements here.

  • What is my discount with Sprint?

    Sprint is no longer offering a discount with the Uber Debit Card.

  • What is my discount with Advance Auto Parts?

    With the Uber Debit Card, you can receive 10% Cash Back on purchases at Advance Auto Parts and participating Carquest locations (maximum of $100 per month on up to $1,000 in total spending on purchases). This applies to all products in-store and online in the US and Puerto Rico. Learn more about additional restrictions and requirements here.

  • Where can I learn more about program details and restrictions?

    Learn more about program details, additional restrictions, and requirements here.

The Uber Debit Card by GoBank account opening is subject to Green Dot Bank approval. Card benefits are subject to change.

¹ Cash-Back Rewards of 1% Cash Back are earned on qualifying purchases using the Card or the Card number (less returns and credits) up to a maximum of $100 per month. Qualifying purchases do not include those that earn additional rewards, such as purchases made at Exxon Mobil gas stations, Advance Auto Parts stores, and Carquest Auto Cash back earned is normally added to the account balance green dot balance inquiry after the qualifying purchase posts to the Debit Card account, but may take up to seven (7) days.

² Other fees may apply. Learn more here.

³ Maximum cash back of $200 per month. Exxon and Mobil are trademarks or registered trademarks of Exxon Mobil Corporation or one of its subsidiaries.

⁴ Maximum cash back of $100 per month.

⁵ 15% discount applied at point of sale on most services at Jiffy Lube. During your first visit, identify yourself as someone who drives or delivers on the Uber platform by showing the technician your Uber Debit Card from GoBank to receive the discounts for this service as well as future services. Batteries, tires, gift cards, and e–gift cards are not included. No appointment necessary. Valid at all Jiffy Lube locations in the US.

Learn about the terms and conditions associated with your GoBank account by reading the Deposit Account Agreement.

The Uber Mastercard card is issued by Green Dot Bank, Member FDIC, pursuant to a license by Mastercard International Inc. The Uber Visa Debit Card is issued by Green Dot Bank, Member FDIC. Green Dot Bank also operates under the following registered trade names: GO2bank, GOBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. The use of this Card is subject to the terms of your Cardholder Agreement. Green Dot is a registered trademark of Green Dot Corporation.

Источник: https://www.uber.com/us/en/u/uberdebit-gobank/

How to Check the Balance on a Green Dot Card

Image Credit: bernie_photo/iStock/GettyImages

Green Dot issues a variety of prepaid debit green dot balance inquiry that you might purchase at a local store or obtain through a tax preparer as an alternative to direct deposit for your refund. These cards can come with fees for things like inactivity, ATM transactions and monthly maintenance alongside any money spent for purchases or withdrawals. So, you'll want to closely track your balance and reload your card as needed. You can easily check your Green Dot card balance for free through the company's website, app, automated phone system or text alerts as well as visiting a local ATM for a fee.

Getting a Green Dot Account

To easily check your balance and manage your Green Dot card through the company's app and online, you need an online account. If you don't already have one, visit the Green Dot website and click the "Log In" button to access the "Account Login" page. You'll find a "Create Online User ID" link to set up an account. Alternatively, you can find a "Create One Now" option on the home screen of the Green Dot mobile app.

When you access the account creation form, you'll first need to enter your card's number, security code and expiration date. Follow the steps to provide your birth date, zip code and your Social Security number's last four digits. You'll then get prompted to set up your account credentials, provide your email address and choose security questions.

Green Dot will ask you to make sure your account information looks correct. You can confirm and get ready to manage your account online.

Checking Through the Website and App

Once you have your Green Dot login information, you can log in to the website and see your card balance immediately and prominently on the page. You can also scroll through recent transactions to see purchases, deposits and fees you've incurred. Green Dot makes it easy to switch between periods and filter transactions by type as well. You'll also find a link to report any transactions that don't look right.

If you want a convenient way to check your balance on your phone, you can download the Green Dot - Mobile Banking app through Google Play or the Apple App Store. As with the website, you can log in and immediately see your balance and account history. However, the mobile app has a "Slide for Balance" option that lets you see your balance without signing in. The first time you try this, you'll see a prompt to enable the feature and will need to log in once for security purposes.

Checking Balance by Phone

Another option you have involves sending a text message to the Green Dot short code, which is 43411. You can simply send a message saying "BAL" followed by your card's last four digits to get a message with the balance immediately. You can follow up with "HIST" followed by your card's last four digits for transaction information. Keep in mind that you'll need to have set up your mobile number in your Green Dot online account before you can use the text option.

When you want to get your balance without making a Green Dot online account, you can dial 866-795-7597 to access the automated system. You'll press "2" to proceed and need to enter either your Social Security number or card number to look up your account. You'll then get a prompt for your birth date and will need to confirm it by pressing "1." Once the system has found your account, you'll get prompts to take actions such as get your current balance.

Checking Your Balance at an ATM

If you don't mind paying a fee, you can find a nearby ATM that you can visit and check your Green Dot card balance or withdraw money. You'll need to have both your card and personal identification number handy. Before doing a balance inquiry, check with your card's documents online to see which fees will apply.

Keep in mind that the ATM owner may also amazon a to z download you another surcharge, so using the other balance methods mentioned can save you some cash and offer more convenience.

Источник: https://www.sapling.com/6506770/check-balance-green-dot-card

$7.95

Monthly maintenance fee

Details

Card typeDebit
Card networkVisa,Mastercard
Monthly fee$7.95

Review by

Rhys Subitch

[email protected]

Rhys Subitch is the loans editor at Finder, guiding Americans toward smart borrowing decisions. With over half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info in the lending sphere. They make frequent appearances on Finder's YouTube channel to talk through loan topics that range from the very basics to the latest government assistance programs. Before specializing in lending, Rhys was a personal finance writer for Finder’s credit cards, insurance, banking and mortgage verticals. They hold a BA in sociology and a certificate in editing from the University of Washington, Seattle.

Expert review

If you’re looking for a straightforward green dot balance inquiry card that supports early direct deposits, the Green Dot Prepaid Card green dot balance inquiry an ideal choice. It has a waivable monthly fee and the option to receive extra benefits as a VIP member. But you can’t apply for this card online. The only way you can find it is in-store at a participating retailer.

As with most prepaid cards, you’ll want to be cautious of the various account-related fees. They can add up quickly if you’re not aware of how to avoid them.

The Green Dot Prepaid Card has a $10,000 maximum balance limit, a $3,000 daily spending limit and a $400 daily ATM withdrawal limit — all of which are onpar with other prepaid cards. Its website states the following fees, but more charges may apply based on how you use the card.

Initial purchase$1.95
Monthly usage$7.95
Cash deposit with a retail partner$5.95
Moneypak deposit$5.95
Teller withdrawal$3
ATM withdrawal$3
ATM balance inquiry$0.50
Pack of 12 paper checks$5.95
Card replacement, regular delivery$5
Card replacement, expedited delivery$15
VIP upgrade$4.95

If you want a prepaid debit card with minimal to no fees, you’ll want to keep looking. As always, compare your options when choosing a prepaid debit card.

The Green Dot Prepaid Card is only available at retail-partner locations, so you won’t be able to order it online. To find the location closest to you, follow these steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Green Dot website, click Other products, then Prepaid card.
  3. Scroll down to the Green Dot Prepaid Visa Card and click Learn More.
  4. Select Find Location.
  5. Enter your location green dot balance inquiry enable location finder.

Eligibility

    To register your Green Dot Prepaid Card you must be:
  • At least 18 years old.
  • Have a Social Security number.

Required information

Have the following ready before you register your card online:

  • Full name, residential address and mobile phone number
  • Date of birth and Social Security number
  • Possibly a state or federal ID, such as a driver’s license or passport

Green Dot offers prepaid Visa and Mastercard options that you can manage easily on the go. You’ll have access to its mobile app where you can transfer money and deposit checks, in addition to the following features:

  • Avoidable monthly fee. Green Dot waives the monthly fee when you load at least $1,000 on your card the previous month.
  • Early direct deposit. You could receive your paycheck up to two days early when you sign up for direct deposit with this card.
  • No overdraft fees. You’re protected from overdraft fees, but you’re still responsible for any negative balances you incur. The monthly maintenance fee applies even if you’re at or under a zero balance.
  • No credit check. Green Dot won’t run a credit check, so you can rest assured that your score won’t take a hit when you register your card.
  • Checks available. You can order checks for a fee.
  • VIP benefits. For an additional fee, you can join Green Dot’s VIP program and receive additional benefits — including ATM-fee waivers, priority customer service and expedited card replacement.

While the Green Dot discover online banking bonus card has some enticing benefits, it’s less than perfect. Make sure you consider these drawbacks:

  • Not available for purchase online. You’ll have to go to a local retailer to purchase the card.
  • Monthly maintenance fee. Every month you don’t make $1,000 in deposits, your account is subject to a $7.95 maintenance fee.
  • Regular fees can eat into your hard-earned cash. Withdrawals by ATM or teller, cash deposits and checking your balance at an ATM will all cost you.
  • Withdrawal limits. You’re limited to $500 daily in withdrawals.
  • Not travel-friendly. Each international purchase comes with a foreign transaction fee equal to 3% of the transaction.

You can load your Green Dot prepaid card in several ways, including:

  • Moneypak. Use Moneypak to load between $20 and $500 for a flat $5.95 fee.
  • Direct deposit. Sign up for direct deposit to your prepaid card for free.
  • Check. Deposit checks using the mobile app. Fees may apply.
  • Cash. Deposit cash at a retail partner for a fee.
  • Bank transfer. Transfer money directly from your bank for free.

Get the most out of your Green Dot Prepaid Card by taking advantage of all its features.

  • Register the card online. Go to the Green Dot website and register your card and access additional features, including access to the mobile app.
  • Meet the monthly fee waiver minimum. Deposit at least $1,000 each month to avoid paying the monthly service fee.
  • Sign up for direct deposit. If you plan on using direct deposit, you can get your account information quickly from the Green Dot website once you create your online account.
  • Contact customer service. Any account-related questions can be addressed by calling the number on the back of your card or 866-795-7597. You can also send Green Dot a message over Twitter @greendotcards.
  • To receive a personalized card, register the one you bought online. You’ll need to submit some personal information that Green Dot will verify before sending you the new card.

  • You’ll need to get a personalized card before you can order checks. Once you have your personalized card, log in to your account to request a book of 12.

Источник: https://www.finder.com/green-dot-prepaid-card

Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when posted.

Advertiser Disclosure

We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers green dot balance inquiry think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.

Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.

ProsCons
No credit check requiredCash reloads cost money
Free payroll direct deposits and easy check depositsMonthly fee of $7.95 when not waived
Monthly fee may be waived if you load at least $1,000 onto the card in a monthly period 
Online bill pay 
Building credit? Explore Secured Credit Cards Now

What you need to know about Green Dot prepaid cards

Take note: Depending on where you apply for this card, you may wind up with a Visa or a Mastercard. Luckily, both types of cards are accepted at a lot of different merchants.

No credit check

People may turn to prepaid debit cards if they’re unable or unwilling to open a bank account.

If your banking history is preventing you from opening a checking account, you’ll be happy to know that there’s no credit check requirement for the Green Dot Prepaid Mastercard® or Visa®.

Free payroll direct deposits and easy check deposits

If you want a prepaid debit card that you can use to set up payroll direct deposits, the Green Dot Prepaid Visa® rockland trust mortgage login Mastercard® is a stellar choice.

Not only does this card offer payroll direct deposits for free, but cardholders may even be able access their money early. As soon as Green Dot gets notice that you’re receiving money, it won’t hold green dot balance inquiry it like other banks may. Instead, the bank will go ahead and deposit the money into your account.

Mobile check deposits are also available via the Green Dot iPhone or Android mobile apps, making the process easy. Simply use your smartphone to take a picture of the front and back of your check, and the money should be loaded onto your card.

Helpful online features

Being able to check your balance and pay your bills online are two of the most convenient features of checking accounts.

You can do both with the Green Dot Prepaid Mastercard® or Visa®. You can check your account status online anytime and can even set up low-balance alerts.

And although you can pay to get paper checks for your Green Dot account, you may not need them. Scheduling bill payments or even sending money to friends with a Green Dot account can all be done for free with Green Dot’s online bill pay service.

Monthly fee is high, but may be waived

While the Green Dot cards don’t charge any overdraft or transaction fees, they do come with a $7.95 monthly usage fee. When compared to other prepaid cards, Green Dot’s monthly charge definitely falls on the high end.

But if you load at least $1,000 on the card in the previous monthly period, Green Dot waives the charge for that month.

If you think that green dot balance inquiry regularly be loading $1,000 or more onto your Green Dot Prepaid Mastercard® or Visa® each month, it could be a great option. But if you don’t think that’s realistic, you might want to find a prepaid card with a lower monthly charge

Cash transactions can be difficult and expensive

So far, we’ve spent a lot of time talking about things like direct deposits, mobile check deposits and online bill pay. But what if you want to use good old-fashioned cash to load money onto your Green Dot Prepaid Mastercard® or Visa®?

Unfortunately, this is where the Green Dot Prepaid Mastercard® or Visa® falls short. Green Dot charges a painful $5.95 fee for cash reloads, depending on where you get it reloaded.

Withdrawing cash can pricey, too. You’ll need to check the app to see which ATMs are free to use, if you want to avoid charges.

Building credit? Explore Secured Credit Cards Now

What else you need to know

  • Paper checks (pack of 12) can be purchased for a $5.95 fee.
  • If you lose your Green Dot Mastercard® or Visa®, you’ll be charged a card replacement fee of $5.
  • If using your Green Dot prepaid card overseas, a 3% foreign transaction fee will be added to all of your purchases.

Who this card is good for

The Green Dot Prepaid Visa® or Mastercard® is best for those who rarely use cash. If you get paid via direct deposit and use a card for most daily transactions, then this card could be a great choice.

You may also find it a good option if you’re looking for a prepaid card to pay bills online or send money to friends. But if you get paid with cash or need to withdraw cash often, you’ll quickly pile up a lot of fees with this card.

Finally, if you don’t think you’ll load at least $1,000 onto your Green Dot Prepaid Mastercard® or Visa® each month, you may want to find a prepaid card that comes with a lower monthly charge.

Building credit? Explore Secured Credit Hotels near university at buffalo Now

About the author: Clint Proctor is a freelance writer and founder of WalletWiseGuy.com, where he writes about how students and millennials can win with money. When he’s away from his keyboard, he enjoys drinking coffee, traveling, obse… Read more.

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Источник: https://www.creditkarma.com/credit-cards/i/green-dot-prepaid

The emergence of new types of consumers and the acceptance of prepaid financial services post-recession are driving banks to enter the lucrative prepaid debit card industry, a business traditionally dominated by alternative financial services companies such as Green Dot Corp. and Western Union Co.

Prepaid cards typically work like a Visa- or MasterCard-issued debit card but don’t draw from a bank account. The card has whatever balance the holder puts on it. Unlike a gift card or a rebate card issued by a retailer, the prepaid credit card can be reloaded at any time.

General-use prepaid cards, a recent outgrowth of the store-specific gift card industry, have gained popularity in recent years, so much so that the amount loaded onto prepaid cards is expected to top $81.8 billion this year, according to the Mercator Research Group.

Tim Sloane, director of Mercator Research Group, said card use will jump to $116.9 billion next year and to $167.2 billion in 2014. He said consumer demand is driving growth in the prepaid market because "they like the control it gives them over budgeting and spending."

Those numbers have attracted the attention of such mainstream brands as J.P. Morgan Chase & Co., U.S. Bancorp, and Wells Fargo & Co as they look for new revenue sources to offset a recently implemented federal law restricting fees on other consumer loan products.

The Durbin Amendment, part of the Wall Street Reform and Consumer Protection Act of 2010, took effect in October. It reduced the interchange fees banks can charge merchants when a consumer swipes a debit card.

The Federal Reserve settled on a maximum fee of 21 cents plus 0.05 percent of the transaction amount, which worked out to about 24 cents on the average debit purchase. The previous fee was 44 cents per swipe.

The rules included an exemption for many types of prepaid cards. Those products can still earn the higher fees from merchants.

But fee income isn’t the only force driving traditional banks into the prepaid card industry.

American Express Co., which has traditionally pitched credit cards to affluent customers, now pushes prepaid cards as a way to broaden its customer base. The company recently struck deals with Target Corp., Office Depot Inc. and Barnes & Noble Inc. to offer its prepaid cards in stores.

PayPal recently introduced its own prepaid card that can be linked to a consumer’s online account.

"It’s very much seen as a growth product," said Greg McBride, senior financial analyst with Bankrate.com. "A lot of banks are getting into the prepaid because of that growth potential."

Consumers are increasingly embracing prepaid green dot balance inquiry as they realize the plastic is useful for transactions beyond basic ATM withdrawals and point-of-sale purchasing. Some are able to avoid establishing traditional bank checking and saving accounts while still having access to banking services such as online bill pay and debit card purchases. Some prepaid card issuers also allow customers to reload through regular paycheck direct-deposit.

A study conducted by Javelin Strategy & Research found 13 percent of adults in the U.S. used prepaid financial services last year, up from 11 percent in 2010.

While prepaid use increases, the same study found declining use of bank accounts and traditional credit cards. According to Javelin, 88 percent of consumers maintained checking accounts in 2011, down from 92 percent in 2010.

Sixty-seven percent of consumers, meanwhile, had credit cards last year, down from 74 percent in 2010.

PRODUCTS FOR THE GREAT UNBANKED

Traditionally, banks concentrated on offering credit cards, while "alternative lenders" such as Green Dot and NetSpend offer products to lower-income consumers who usually are unbanked or underbanked.

But that business model is changing rapidly in the post-recession economy.

J.P. Morgan Chase and Wells Fargo are just two traditional banks now marketing their cards to individuals whose assets and credit scores have been hit hard by sinking home values or other financial challenges.

"Our main customer for the Chase Liquid card is a consumer who wants a checking account, but can’t get one," said Gary Kishner, vice president of media relations at Chase in Los Angeles. "It’s a graduation product. A way to show they are responsible before moving on to a traditional checking product."

Bank-issued prepaid cards give those consumers a way to pay their bills at a lower cost than services offered by check-cashing stores, payday lenders and some big-box retailers.

The Federal Deposit Insurance Corp. defines unbanked consumers as those without access to mainstream financial products such as bank accounts and low-interest loans. The underbanked might have access to a bank account but rely more on costly alternatives.

The FDIC says 9 million adults in the U.S. are classified as unbanked while 21 million are considered underbanked.

McBride said demand for prepaid cards is broader than most consumers and bank executives realize.

"It’s a demographic that is not confined to the unbanked or low-income consumer, but there have been notable increases in usage by middle-class and high-income consumers," he said.

McBride said high-end consumers use the cards for budgeting purposes and in some cases as an alternative to giving a traditional credit card to children.

NUMBER OF USERS POISED TO GROW

As more banks and even credit unions launch prepaid cards, analysts say, the prepaid user base will continue to grow and become more diverse.

"We see prepaid moving up from a low-income product," Tal Clark, vice president of Prepaid and Advanced Marketing Solutions at First Data, said Monday at the Prepaid Press Expo at Paris Las Vegas.

Most major banks with branches in Las Vegas already offer prepaid cards. Wells Fargo offers the Stagecoach prepaid card, which costs $2.50 a month, with no activation fee, no ATM balance inquiry fee and one free withdrawal per month. Then it’s a $1.50 fee for each additional withdrawal.

U.S. Bank’s Convenient Cash Card costs $3 a month, with a $3 card activation fee, no ATM withdrawal fee, and no fee for balance inquiries at U.S. Bank ATMs. The Chase Liquid prepaid card only charges a $4.95 monthly fee.

McBride said bank-issued prepaid cards benefit from large branch and ATM networks and more transparency in their fee structures than those issued by alternative financial services companies. He said greater price transparency ultimately will "weed out a lot of the high-priced cards in the market."

It’s also about getting bank prepaid cards in front of a larger audience.

Sloane of Mercator Research said banks will have to sell their cards at retail locations to appeal to more consumers. Sloane doubted Walmart would carry Chase or Bank of America prepaid cards, but large pharmacy chains, electronics stores and other well-known retailers present a real opportunity to reach more consumers.

A Mercator Research Group survey of the availability of prepaid cards sales in Stockton, Calif., found Bank of America’s cards were available at three branches, while Green Dot cards were on sale at 14 locations. Sloane said to reach low- to moderate-income consumers, banks need to move beyond the branch.

At Chase, the Liquid card is offered exclusively through 5,500 branches. Kishner said Chase has no plans to offer the cards in other retail locations. He said the bank has received a "positive response" to its Liquid prepaid card since its launch in July.

PARTICIPATION NOT WITHOUT RISK

As a relatively new financial product, prepaid cards are subject to few regulations, and the most common complaint about them has been outrageous fees charged by some providers.

That soon might change as federal regulators look to rein in a fast-growing and popular industry. The Consumer Financial Protection Bureau recently took public comment on how to make fees and terms transparent while also ensuring that consumers’ money is safe on the plastic. The agency has not said when it will make public the proposed regulations it is now drafting.

One big difference between prepaid cards and credit cards is consumer protection: the money is not always insured by the Federal Deposit Insurance Corp., which backs bank deposits.

Richard Cordray, director of the CFPB, said the focus of any regulation will be on "safety and transparency" in the prepaid card market.

"We believe that innovation can bring great benefits to consumers and can provide those outside the traditional banking system with access to financial products that meet their needs," Cordray said in a statement.

Among the areas are disclosure and fees. This information is often tucked inside the card’s packaging, so consumers aren’t always aware of transaction fees, general terms or whether their card is FDIC insured until after they buy it.

The federal agency also wants to know how consumers are protected against unauthorized transactions. There’s a limit on how much a credit or debit cardholder ends up owning if a card is used without their permission. Prepaid card issuers might voluntarily extend similar protection, but the CFPB might require all to do so.

Contact reporter Chris Sieroty at [email protected] journal.com or 702-477-3893.

Источник: https://www.reviewjournal.com/business/prepaid-debit-cards-growing-in-popularity/

Green Dot Prepaid Everyday Mastercard

Green Dot Prepaid Everyday Mastercard Review

The Green Dot Prepaid Everyday Mastercard is designed for consumers who want the convenience of paying with plastic but don’t want (or don’t qualify) for a regular credit card. Prepaid cards only allow you to spend money already in your account. So you can avoid interest payments, bounced checks, or overdraft fees.

Green Dot Prepaid Everyday Mastercard does not require a credit check, so approval is guaranteed. However, it will not help you build credit and some online merchants don't accept prepaid cards.

Green Dot Prepaid Everyday Mastercard Pros & Cons

The GoodThe Bad
  • There is no fee for loading your card
  • No PIN purchase transaction fee
  • The monthly fee can be waived by connecting direct deposit.
  • Charges a monthly maintenance fee of up to $7.95.
  • Charges a $1.95 signature purchase transaction fee
  • No fee free ATMs

Green Dot Prepaid Everyday Mastercard FAQ

Who issues Green Dot Prepaid Everyday Mastercard?

Green Dot Prepaid Everyday Mastercard is issued by Green Dot Bank, which is based in Pasadena, CA and was founded in 1999.

What fees does Green Dot Prepaid Everyday Mastercard charge?

Green Dot Prepaid Everyday Mastercard charges a monthly fee of up to $7.95. There is a signature transaction fee of $1.95 every time a merchant requires signature-based authentification.

Description
ATM Balance Inquiry$0.50
Activation Fee$1.95
Card Replacement Fee$5
Close Account Fee$0
Card Reload Fee$4.95 - $5.95
Signature Purchase Transaction Fee$1.95

How Much Does Green Dot Prepaid Everyday Mastercard Cost?

Green Dot Bank charges a $1.95 fee when you first activate the card.

Notice this card charges a monthly maintenance fee of up to $7.95.

There is a reload fee of up to $5.95 fee every time you reload the card.

Does Green Dot Prepaid Everyday Mastercard charge an activation fee?

Green Dot Prepaid Everyday Mastercard charges an activation fee of $1.95.

What is the daily ATM withdrawal for Green Dot Prepaid Everyday Mastercard?

Green Dot Prepaid Everyday Mastercard has a daily ATM withdrawal limit of $2,999.

What is daily direct deposit limit for Green Dot Prepaid Everyday Mastercard?

Green Dot Prepaid Everyday Mastercard sets a daily direct deposit limit of $2,500.

What is the Card Replacement Fee for Green Dot Prepaid Everyday Mastercard?

You will need to pay $5, if you need a card replacement.

What is the Maximum Balance for Green Dot Prepaid Everyday Mastercard?

The maximum balance you can have on Green Dot Prepaid Everyday Mastercard is $10,000. If you are often close to the maximum balance, it may be time to put your money to work and deposit it in an account that yields interest, such as a savings account, a CD, or a money market account.

How to apply for Green Dot Prepaid Everyday Mastercard

  • Visit the Green Dot Bank website.
  • Fill in the application form. Some prepaid cards require you to provide some personal information, such as your full name, address, date of birth, email, and SSN.
  • Check the information is accurate and submit your application.

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Message From Green Dot Prepaid Everyday Mastercard

Источник: https://www.supermoney.com/reviews/prepaid-cards/green-dot-prepaid-everyday-debit-card
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