How Does The Green Dot® Card Differ From Other Debit Cards?
The Green Dot® card, besides being one of the more popular prepaid debit cards, is one of our favorite debit cards. The Green Dot card is operated under its own financial institution, the Green Dot® bank. However, it also operates under the registered names GoBank and Bonneville bank. This is worth mentioning because most other debit cards operate under Metabank owned by Meta Financial Group Inc.
Green Dot® has also popularized the use of reload packs with its introduction of the MoneyPak and the ability to reload your prepaid card at the register. Even though the MoneyPak has been discontinued in 2015 due to scams and swindlers, they have brought the MoneyPak back. It is currently the only last surviving reloadpack in circulation today, with the exception of Netspend Reload Pack & Reloadit.
Something You Should Know About Green Dot®
Last year in 2017 it was announced on Forbes that Green Dot® has purchased Russell Simmons “Rush Card” for $167 million or more. In 2015 Green Dot® acquired the Achieve Card and Account Now. These acquisitions make Green Dot one of the most powerful debit card company in existence.
Green Dot® Card Benefits
We’ve mention a little bit about Green Dot® so users are aware of the power behind the Green Dot® brand. The first benefit of owning a Green Dot® card is strong security. To register your Green Dot® card you are required to follow certain guidelines concerning your username and password. Green Dot® bank is a financial institution that’s insured by the FDIC.
The second benefit is having the peace of mind knowing your card is supported to use Moneypak and “Reload At The Register“. Green Dot® has also added a new future recently that allows customers to move money from their balance into a vault. This feature is similar to Serve’s “Reserve Balance” and one of our favorite future of debit cards. This mean you can move money from your available balance into the vault account. Companies cannot touch the money located in your vault, which is good because sometimes we have multiple subscriptions and forget to cancel some of them. If we move the bulk of our money into the vault, any unsuspecting charge that occurs will result in a failed billing notification and we cancel the subscription or pay the bill. Here is more useful information regarding the Green Dot® card:
Green Dot® Reloadable Card
Reload your debit card and make purchases anywhere Visa and MasterCard are accepted.
- Supports MoneyPak
- Reload at register at more than 65,000 locations
- Funds backed by FDIC bank
- Transfer balance into vault
Green Dot® Cash Back Card
Green Dot® Cash back debit card offers one of the highest cash back programs at a rate of 5%. This is 2% higher than Walmart’s MoneyCard® 3% cashback reward.
- Online transaction fee
- Get paid 2 days earlier via direct deposit
- Instant card to card transfer
- Deposit checks with smartphone
- Write checks
Green Dot® Platinum Visa Secured Credit Card
Unlike any other debit card company Green Dot® also provides a secured credit card. Secured credit cards help people with low or no credit build their credit score.
- Established or rebuild your credit history
- Security deposit as low as $200
- Good credit or bank account NOT required
- Reload your card 7-Eleven, CVS and more.
- Find reload centers!
Load & Go™ Prepaid Visa® Card
The Load & Go Prepaid Card allow customers to use the card immediately after initial load from the cash register. The Load & Go card is Green Dot’s version of InComm’s OneVanilla card. These prepaid cards are for one time use only and does not require you to reveal personal information.
However, I have to always mention that any company you purchase from may require personal information when buying a product or service. In these scenarios a prepaid debit card cannot be used. This is not so much of an issue because there are plenty of stores that does not require personal information.
Users of Load & Go have the option of “upgrading” their card. This just mean users fill out a registration form from Green Dot and you will receive an official Green Dot prepaid debit card.