Partner terms and conditions apply. If thats a deal breaker for you, check out our list of, how to budget and save with a prepaid debit card. We are facing technical difficulties right now. I lobe green dot bank app and the card it was super easy to sign up and took just a week to start getting my checks on my card. You do get 5% cash back on qualified purchases but unless you run your card a lot, I dont think its worth it considering the $9.95 monthly membership fee. Spend tracking with major credit card issuers, What you need to know about instant use credit cards, Guide to Upgrade Card: A credit card and installment loan hybrid, Free-to-cheap Halloween stuff to scare off credit card debt. Online access, mobile number verification (via text message) and identity verification (including SSN) are required to open and use your account. I scoured through their FAQs from the beginning and nothing in there would help answer my questions. Eligibility requirements. Stay up-to-date on the latest credit card news from product reviews to credit advice with our newsletter in your inbox twice a week. * When on a desktop, hover over * to view important disclosures. Welcome to the Green Dot Help Center How can we help? The Green Dot primor Visa Classic Secured Credit Card. If thats a deal breaker for you, check out our list of best prepaid debit cards for some other options. To qualify for SCRA benefits, all required documentation (e.g., copy of valid military orders) must be provided to Green Dot Bank by mailing to: Green Dot Platinum You must make an initial deposit (between $20 and $500) at the time of purchase, after which you can set up free direct deposit with your employer, transfer funds from outside bank accounts, deposit cash at participating retailers and cash checks through the mobile app. Payments will apply to the balance with the highest interests, followed by the fees. The 5 official factors that determine your credit score according to the United States government are: The $39 Annual Fee is billed with your minimum payment and due after 30 days. The app has been updated to reflect improvements to select features. Go to find a location. Responsible use includes making on-time minimum payments, keeping your balance low, and paying off your credit card each month. Box 5100 . Kenley Young directs daily credit cards coverage for NerdWallet. In order to qualify to use the Mobile Check Deposit feature you must a Direct Deposit in any amount or reload $150 in the last 60 days. You must register your prepaid debit card with your name and other identification information in order to be eligible for FDIC insurance and other protections. Although this type of fee structure could add up quickly, the tradeoff may be worth it for people who want to use prepaid cards to control their spending in certain purchase categories, such as groceries. If we do not receive your security deposit within 90 days from the date your card was approved, your account will be closed. Although prepaid cards are growing in popularity, they do have some downsides, such as potentially high fees. With responsible use over time, the Green Dot Platinum secured credit card can help build your credit history since it reports your payments to the three main credit bureaus every 30 days. 5.25% APY reflects a .75% boost available as a special offer with qualifying deposit. Our partners compensate us. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. But in some cases, you must file a paper I-90 and submit your application by mail. We enable our partners to transform how they make payouts to customers and partners by delivering trusted, best-in-class money movement and payment solutions. We also may hold the funds in your Collateral Account for as long as 60 days after you have paid off your Credit Account balance and you Credit Account is closed. Only financial institutions can have FDIC insurance, so a prepaid card is either managed by a bank or by a prepaid card company that partners with a bank to offer that insurance. The first $5,000 in your account earns 1%, which is paid quarterly. Considering a prepaid card from Green Dot? A prepaid debit card is a type of payment card that only lets you spend the money you load onto the card. ATMs. Enjoy true mobile bankings Can't find your answer? 5. Our partners cannot pay us to guarantee favorable reviews of their products or services. All rights reserved. Otherwise, you wont have full access to the cards features or be able to reload it, meaning that when your initial deposit is spent in full, the card itself is rendered useless. Over all I trust Green Dot, my boyfriend and sister use it as well. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Set up account alerts. 00:39 - Where can. By providing my email address, I agree to CreditCards.coms The credit line will be made available within minutes from the retail store transaction. People who want access to banking features without the need for a credit check. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. That said, once youve purchased a Green Dot card (from one of 90,000-plus partner retailers nationwide), you have to provide your name, address, date of birth, Social Security number, phone number and any other information Green Dot needs to verify your identity. These editors thoroughly edit and fact-check the content, ensuring that the information is accurate, authoritative and helpful to our audience. Sold only in stores, Green Dots prepaid debit card options include the Visa Debit Card, the Cash Back Visa Debit Card and the Pay As You Go Visa Debit Card. See all questions Account Open an account Activate a card Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. And by Mastercard International Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. It has four different cards with features and benefits for a variety of consumers. Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. It turns out it just takes some time before you are given access (I discovered this on my own). However, you won't be able to "graduate" to such a product with Green Dot, as the company doesn't offer any such unsecured cards. Specifically, you need 20 credits (also known as Qualifying Quarters) earned in the last decade. If getting a handle on your finances is one of your goals this year, a prepaid card could help you cross that item off your to-do list sooner rather than later. Assigning Editor | Homebuying, savings and banking products. Depending on how large of a credit card balance you need to carry, the slightly larger annual fee may be worth it. Register/activate a new card. To financially prepare for a deployment, visit the Preparing for Deployment page on the Military One Source site for information about how you can financially prepare for deployment. Click here to find a retailer near you. The Green Dot primor Visa Gold Secured Credit Card features a $49 annual fee. Account Alerts. We believe everyone should be able to make financial decisions with confidence. It's an unsecured card, meaning it doesn't require a security deposit, and it offers rewards. Download the Turbo Card app to control your money while on the go . From there, youll need to increase your security deposit to match the new credit limit. All financial products, shopping products and services are presented without warranty. MORE: NerdWallet's best secured credit cards. This will also include interest and fees, plus any amount that is past due on your Credit Account. Green Dot Cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark . Other fees associated with the Green Dot Cash Back Visa Debit Card include: If youd rather not commit to an ongoing monthly fee, the flexibility of Green Dots Pay As You Go Visa Debit Card might be appealing. If youre approved for a credit limit increase, youll need to first deposit that amount to your security deposit for the credit limit increase to go into effect. Editorial integrity is central to every article we publish. However, you won't be able to "graduate" to such a product with Green Dot, as the company doesn't offer any such unsecured cards. For you to register for the Green Dot Prepaid card, you must have the meet the following. (Green Dot doesn't do a hard pull on your credit report.). I knocked it down 2 stars because support is awful! 0.50%SoFi members with direct deposit can earn up to 4.40% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Use of a contact lens in one eye for distant visual acuity and another lens in the other eye for . You will receive your personalized card in 2 weeks. Copyright 2023 CreditCards.com a Red Ventures Company. You have reached the maximum number of Green Dot Bank issued cards allowed per customer. How much can I borrow mortgage calculator, Best lenders for low- and no-down-payment, Best options trading brokers and platforms, Do not sell or share my personal information. (And, closing an account can have implications for your credit scores, To determine whether any of these options may be right for you, check out NerdWallet's list of. And as you do so, you can become eligible for better cards, meaning regular unsecured products that do not require a deposit. With responsible use over time, the Green Dot Platinum secured credit card can help build your credit history since it reports your payments to the three main credit bureaus every 30 days. Continue making payments as SCRA benefits do not relieve you of your responsibility to make payments, nor do they prevent us from reporting past due payments to credit bureaus. How do I make a deposit by cashing a check at a Financial Service Center location?, How fast will my money be available if I cash and deposit a check at a Financial Service Center location?, How much does it cost to make a deposit by cashing a check at a Financial Service Center location?, Green Dot Unlimited Cash Back Bank Account. See our Best Secured Credit Cards roundup for other options. As a Green Dot Visa Debit Card customer, youll pay no fees for bank transfers (though the other bank may charge you), and you can save on the $7.95 monthly maintenance fee when you direct deposit $500 or more in the prior month. * When on a desktop, hover over * to view important disclosures. $15 fee may apply for each purchase transaction not repaid within 24hrs of authorization of first transaction that overdraws account. Please try again later! Please note, that your initial load and using the Send Money Feature do not count towards the $150 requirement. However, this does not influence our evaluations. Checking accounts are used for day-to-day cash deposits and withdrawals. Here are five things to know about these three Green Dot credit cards: The Green Dot primor Visa Gold Secured Credit Card. They dont help you build credit. + earn 5% rewards in pharmacy. Visa and MasterCard are widely accepted among merchants. By providing my email address, I agree to CreditCards.coms An APR in the single digits is unusual among cards aimed at people with poor credit. Your first Monthly Charge will be deducted 30 days from registration. Partner terms and conditions apply. See the online credit card applications for details about the terms and conditions of an offer. When evaluating offers, please review the financial institutions Terms and Conditions. When on a mobile device, tap on * to view disclosures. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Generally, pre-paid cards and debit cards do not report to credit bureaus. The offers that appear on this site are from companies from which CreditCards.com receives compensation. How fast will my money be in my account after making a mobile check deposit using the Green Dot app? Please refer to your Cardmember Agreement for details. Shop With Purpose. Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. The card retains many of the same features as Green Dots other cards, such as free bank transfers, free direct deposits and the option to use the Money Vault. Green Dot said the card may be confused for a gift card but it's really a virtual bank. Limits apply.Overdraft protection up to $200 with opt-in & eligible direct deposits2Earn 2% cash back on online and mobile purchasesSave up money in the Green Dot High-Yield Savings Account and earn 2.00% Annual Percentage Yield (APY) on money in savings up to a $10,000 balance!The Green Dot app is the most convenient way to manage your account.Register/activate a new cardView balance and transaction historyLock/Unlock your accountDeposit checks from your mobile phoneWorks with mobile payment options including Apple PaySet up account alertsAccess chat customer supportVisit GreenDot.com to learn more.Not a gift card. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. I have NEVER had any other probs like everyone else is claiming. Credit standing includes information like whether you make your minimum payment in full and on time every month and whether your card balance is low. Lock your card if misplaced, lost or stolen. Learn about secured credit cards. Your credit line will equal the amount of this security deposit. Pasadena, California 91117. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Keep up with your favorite financial topics on NerdWallet. On-time payments, late payments, purchases, loan terms, credit limits, and balances owed and events such as account closures or charge-offs are also reported . Neither Green Dot Corporation, Visa U.S.A. nor any of their respective affiliates are responsible for the products or services provided by Ingo Money and Plaid, Inc. Your annual percentage yield can be as high as 3.30% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. (And closing an account can have implications for your credit scores.). Please refer to your Cardmember Agreement for details. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. You'll have to put down a $200 minimum deposit, but unlike these Green Dot cards, the annual fee is $0. The ongoing APR is 9.99%. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. When she's not writing about personal finance and credit cards, she's immersing herself in the world of travel hacking. No free ATM network. If your current security deposit amount is less than your approved credit limit, you can add to your security deposit up to the approved credit limit any time in $50 increments, so long as the amount you add does not cause the total security deposit balance to exceed $5,000. There is no minimum balance requirement. Follow Apple's instructions. Account Open an account Activate a card Heres what each one has to offer and the fees you can expect to pay. That is why I kept it at 5 stars. Overdraft Protection. More on that later.). SCRA permits customers on active duty in the United States Military to devote their full attention to service by easing some of their financial obligations. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Privacy Policy. High-Yield Savings Account. The cards also charge a foreign transaction fee of 3%, meaning none of them is ideal for use internationally. This prepaid debit card, the Green Dot Prepaid MasterCard or Visa, has a lower monthly fee than some other Green Dot cards. In addition, certain government benefits, such as federal tax refunds, Social Security income and unemployment payments, can also post to your Green Dot account up to four days earlier than usual. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. Its cards offer many of the benefits that youd receive from a traditional bank account, like mobile check deposit, online bill pay and more. The Visa Card is issued by Green Dot Bank pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service. Use only what you can afford to pay back. When you're just starting out with credit cards, rewards aren't the most important thing but you can still find some secured and alternative options that earn them. GO2bank | The Ultimate Mobile Bank Account Open an account the ultimate mobile bank account no monthly fees with eligible direct deposit* no hidden fees* Open an account Activate your card Get your pay early Say no to fees Stay covered Keep your money safe Build your credit Free ATMs near you Withdraw cash for free at thousands of ATMs nationwide* An APR in the single digits is unusual among cards aimed at people with poor credit. SCRAs benefits and protections, such as the interest-rate cap limitation, are intended to protect military personnel who had an existing obligation prior to becoming active duty military, but are less able to manage their finances while in active service. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Menu. More on that later. Its safer and more convenient than using cash. (This may include uploading a copy of your state-issued ID, such as a drivers license.). Find out now if a prepaid card from the company that invented them is right for you. Learn how to budget and save with a prepaid debit card. Well, it is an easy process that should never bother you. Jeanne Lee is former personal finance writer for NerdWallet. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa, Mastercard or American Express. Gift certificates, the precursor to gift cards, have been around since the 1930s, and upscale retailer Neiman Marcus started selling them to some customers in 1994. Ready to open a traditional savings option instead? What it is: A MoneyPak is a legitimate card sold by prepaid company Green Dot Corp. that has one job: moving cash from a retail counter onto an eligible prepaid debit card, including Green Dot . *Base annual percentage yield (variable) is 4.50% as of 5/8/23. The Savings Account is established by Green Dot Bank, Member FDIC. It wasnt until a few years later, though, that Green Dot first introduced the reloadable, general-purpose prepaid debit card to the masses. (See our guide to Form I-90 to determine which filing method to choose.) Access to 19,000 ATM locations. Here is a list of our partners and here's how we make money. No minimum balance required, plus you can deposit checks with your smartphone and track your spending 24/7 with our mobile app. I dont like carrying cash so I always opt for a card. All Rights Reserved. It's an unsecured card, meaning it doesn't require a security deposit, and it offers rewards. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. I decided to just stick with my current bank at this point and am closing my green dot account. Box 5100, Pasadena, California 91117. This influences which products we write about and where and how the product appears on a page. Ask About HEALTH 45.8K subscribers Subscribe 4K views 1 year ago 00:00 - How do you get money off of a Green Dot card? We hope this information was helpful. APY may change before or after you open an account. And by Mastercard International Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Keep a copy of the Apple or iTunes gift card or your store receipt. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. How much does it cost to make a deposit by cashing a check at a Financial Service Center location? Your credit cards journey is officially underway. Many or all of the products featured here are from our partners who compensate us. Activated, personalized card required to access some features. Early direct deposit availability depends on payor type, timing, payment instructions, and bank fraud prevention measures. Access these features and more. Essential reads, delivered straight to your inbox. Money is taken out right away and pends for a few days just like it would for a regular bank. Credit cards pay later: You borrow money from a bank when you use the card and pay the money back later. How do I know when my money is in my account after making a mobile check deposit using the Green Dot app? I choose this card because of how easy it is to use. A qualifying direct deposit is required for the remaining interest rate qualifications to apply. Reload; View Transactions; ATM & Reload Map; Fee Waiver; Retrieving Location Data In fact, compared with the other two Green Dot options, its interest rate is significantly higher. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. The ongoing APR is 13.99%. Despite having the word platinum appear prominently on the card, the Green Dot Visa Secured Credit Card doesnt offer extra perks befitting its fancier appearance. However, this does not influence our evaluations. Pre-qualified offers are not binding. , for example, charges the same annual fee but offers a lower interest rate. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, 5 Things to Know About Green Dot Credit Cards. Why are pending transactions holding part of my balance? I recently had someone get my card information and charger over $100 before I was able to catch on. Hey there, Great feedback! All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Choose the right Green Card for you. Ten (10) point-of-sale transactions per month using your Rewards Checking Visa Debit Card for normal everyday purchases with a minimum of $3 per transaction, or enrolling in Account Aggregation/Personal Finance Manager (PFM) will earn 0.30%; maintaining an average daily balance of at least $2,500 per month in an Axos Self Directed Trading Invest account will earn 1.00%; maintaining an average daily balance of at least $2,500 a month in an Axos Managed Portfolio Invest account will earn 1.00%; and making a monthly payment to an open Axos Bank consumer loan (commercial and business loans excluded) via transfer from your Rewards Checking account will earn a maximum of 0.60%. Must be 18 or older to purchase. Claim a Green Dot Card Refund via Mail. I tried this out for a couple of weeks and it wasnt bad. Just answer a few questions and we'll narrow the search for you. Prepaid debit cards pay before: You load money onto the card via cash, checks, direct deposit or a bank account before paying for transactions. Must be 18 or older to purchase. CreditCards.com is an independent, advertising-supported comparison service. In other words, a prepaid Green Dot card allows you to pay bills, buy stuff online, withdraw money from ATMs and cash checks, among other things. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Fees on your primary deposit account may reduce earnings on your savings account. Like any other payment card, you can use a Green Dot card to send . I had questions on getting set up for mobile check deposit and they were very vague and could never give me a direct answer. For all of these Green Dot cards, the deposit can vary between $200 and $5,000; you can put down a security deposit up to your approved credit limit. If the New Balance shown on your monthly Billing Statement is less than $25.00, your Minimum Payment Due will be the New Balance. This card can be used everywhere Visa debit cards are accepted. There is no minimum balance requirement. In lieu of a monthly maintenance fee, Pay As You Go cardholders pay $1.50 per transaction. When evaluating offers, please review the financial institutions Terms and Conditions. The best card I have had. 5.25% APY reflects a .75% boost available as a special offer with qualifying deposit. Limits apply. Limits and fees apply. 2. Generally, your credit limit will be equal to that deposit. Unfortunately, these are the fees you cant escape: The Green Dot Cash Back Visa Debit Card is similar to the regular Visa Debit card, save for a few key differences: As a prepaid cash back debit card, youll get 2% back on mobile and online purchases with no caps, as well as a fee-free savings account that currently earns 2% annual interest on balances up to $10,000.

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