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Green Dot Customer Service: Everything You Need to Know Before Using this Prepaid Card

The Green Dot Customer Service Card is that the most important prepaid card within the U.S. with 4.28 million active cards currently issued. once you employ a prepaid card, you would like to possess money loaded onto it before you'll use it, and it doesn't provide you with the prospect to make credit history. Rather, prepaid cards often function a substitution for traditional checking accounts.

Many prepaid cards accompany hefty fees. once you can’t get a checking account with a typical financial institution , unfortunately you're usually subjected to charges that you simply simply wouldn’t normally encounter at a bank. These fees are commonly mentioned as “poor tax.”

If you would like to use a prepaid card, the Green Dot Customer Service Card isn’t your worst option, but you’ll want to read on to make sure you recognize all the ins and outs of dodging its fees.

 

Overview of the Green Dot Customer Service Card

Options to load money:

Direct deposit: With the Green Dot Customer Service Card, you'll found out direct deposit for:

Paychecks

Social Security benefits

Veterans’ compensation and pension benefits

Supplement Social Security Income (SSI)

Federal government officials Benefits like retirement or annuities

Direct deposit comes with no fees, but you're limited to only having $2,500 in your account at any given time. If your paycheck or benefits exceed this limit, you'll make an invitation for an exception to be made.

Walmart: you'll also put money on your card by cashing your check at Walmart. Walmart cost a $3 feeon all check-to-card transactions up to $1,000. This fee is additionally to the $3.74 that Green Dot charges.

Deposit cash: you'll deposit cash at select financial service centers and retailers across the country. you'll be charged reload fees, which may be as high as $4.95 counting on the retailer.

Deposit checks. If you would like to avoid the fees at Walmart, you'll cash your checks via Green Dot’s mobile app. It should be noted that you simply won't have access to those funds for up to 10 business days, though.

MoneyPak: you'll purchase a Green Dot MoneyPak, which may be a card which will allow you to load money onto your personal card. this feature comes with a $5.95 service charge per deposit.

Deposit cash into Paypal: you'll use Green Dot to deposit cash into your PayPal account at select retailers. there's a $3.95 charge for this service, and you'll need either a smartphone or access to a computer and printer.

Use your tax refund: During certain times of year, you'll direct deposit your tax refund onto your Green Dot Card. The timeframe for this service is restricted though; in 2016 it had been only available until May. Because many of us might not file taxes until after the quality mid-April filing deadline, this feature might not be available once you file.

How to access your account:

App or Online: Green Dot Customer Service has an app accessible for smartphone users. From this app, you'll access transaction history, register your new card or order a further card for your account with a licensed user. This app is out there on both Android and iOS.

Text alerts: you'll check your balance and up to date deposits through text. confirm you recognize if your cell carrier has any charges for this service before utilizing it.

Other methods to use your account besides swiping at checkout:

Pay bills online: While the cardholder agreement explicitly forbids fixing recurring transactions, you'll pay your bills online for no fee. Just confirm they're one-time transactions and not found out to return out regularly.

Transfer money: you'll send money to and from others with Green Dot Cards via mobile for no service charge .

Fees for paper checks: If you would like paper checks, you'll get them organized for $5.95 per 12 checks.

How it Works

Step 1: Apply

In order to open a Green Dot Card, you'll got to either buy a short lived card at a participating retailer or financial service center, or get the method started online. once you apply online, you'll be issued a short lived card number, but it can’t be used at places that need you to possess a physical card so as to form a sale . this is often a non-issue once you apply for Green Dot face to face because the temporary card are going to be physical.

Step 2: Register the account

In order to urge a permanent card, you'll need to register your account. you'll need to provide personal details to verify your identity, like your name, Social Security number, address and date of birth.

Step 3: Activate personalized card

After you've got registered, Green Dot will send you a customized card within the mail. you'll then got to follow activation instructions so as to start out using your account.

You will be ready to use your card where Visa or MasterCard is accepted (depending on which you're issued,) and you’ll even be ready to use it to withdraw cash from ATMS. As mentioned above, you'll also use your account to transfer funds to others with a Green Dot Card or pay bills online fee-free.

The Fine Print

This card does accompany tons of fine print, and you’re getting to want to review all of it before opening an account.

Direct Deposit

While Green Dot boasts that you simply can get your paycheck or benefits a full two days early when using direct deposit, that's by no means a guarantee. First, the institution paying you money must give Green Dot a notification that they shall pay before actually paying you. Then, Green Dot must elect to place those funds in your account two days early. To further complicate matters, simply because you've got received your paycheck or benefits two days early within the past, there's no guarantee that you simply will still receive them two days early within the future. It’s a wait-and-see game each and each time.

CAUTION: Understand that your employer cannot legitimately require you to accept your paycheck via a prepaid card.

If the direct deposit transfer is irregular or there's a transmission error, you'll not be ready to access your funds for a full five days after their deposit.

You can only deposit up to $2,500 at a time, though if your benefits or pay is regular, positive identification may make exceptions on a case-by-case basis.

Max Transaction and Balance Limits

On any given day, you'll only spend $2,500 on your positive identification . that's also the max you’re allowed to possess in your account, unless an exception has been made for you due to direct deposit.

You’re only allowed to require out $400 at a time when making a withdraw from an ATM, however, the ATM you’re using may have limits that are even more stringent.

First Load at Retailer

The first time you load money onto your card at a retailer, you want to load a minimum of $10 but no quite $500. The retailer may or might not have stricter policies for the initial load. Also remember that once you load your card at a retailer, you'll incur a fee.

Authorized Users

You can have a licensed user on your account, and he or she is going to be issued a separate card. the cardboard number and funds are going to be an equivalent as yours, though, and you're solely liable for any spending, charges or fees that they rack up. The authorized user won't be ready to load funds onto your card. so as to get rid of a licensed user, you'll need to close your entire account and open a replacement one.

Using Your Card to form Specific Purchases

In some situations, you’ll need to use your card in precise ways. for instance , if you’re getting gas, you'll only use your Green Dot Card as a open-end credit together with your PIN at the pump. If you would like to pay credit, you’ll need to go inside.

In other situations, Green Dot may put a hold placed on your card. meaning that a particular amount of funds are frozen and you can’t use them, albeit they exceed the particular transaction amount. This commonly happens once you make an enormous purchase, like reserving a hotel or hire car . It also can happen once you leave to a restaurant; Green Dot may reserve additional funds just in case you opt to go away a non-cash tip. These funds are often frozen for up to 90 days.

Fraudulent Activity

If you lose your card or it's stolen, you've got two days to notify Green Dot. If you’re reviewing your transaction history and see some weird activity that's not your own, you've got 60 days, though there's exception for those with “good cause” like being hospitalized or away on long trips. If you notify Green Dot within these timeframes, you'll only lose $50. If you don’t, but Green Dot decides that it could have identified the fraud themselves, you'll only lose up to $500. If neither of these apply, you'll lose everything consistent with Green Dot’s own policies.

However, MasterCard and Visa also provide protection. If your card may be a Visa, you'll only lose money if they determine that you’re lying about the fees being fraudulent or if you were grossly negligent. If your card may be a MasterCard, you'll only lose money if your card isn't in good standing (which is quite difficult, though not impossible, to try to to with a prepaid card,) or if you've got reported unauthorized activity quite twice within the past twelve months.

Negative Balance and Account Closures

If you've got a zero account balance and incur fees, Green Dot will charge you a max of $11.90. that's quite are often said about many traditional financial institutions. If you are trying to spend extra money than you've got on your card, the transaction could also be declined, otherwise you may find yourself with a negative balance on your card commensurate with the difference. So if you tried to form a $30 purchase, but only had $10 on your card, you'll potentially find yourself with a -$20 balance.

You must pay off negative balances. If you don’t, or if you've got a zero balance, your card are often closed all of sudden .

If you've got money in your account, but you don’t use it for a year, it'll be turned over to your state as unclaimed property. you would like to then undergo the claim process together with your state if you want to ascertain that cash again. you'll determine if you've got any unclaimed property here.

Avoiding Fees

The Green Dot Card does accompany variety of fees. Here are ways you'll avoid them:

Initial Purchase Fee: $4.95 or less if you buy in-person at a retailer (but $6.95 for the NASCAR® Prepaid Visa card). you'll avoid this fee by opening your card online.

Monthly Charge: $5.95. you'll avoid this charge by loading a minimum of $1,000 onto your card during each billing cycle, or by making 30 purchase transactions in each billing cycle. It should be noted that a lot of , though by no means all, traditional financial institutions also will have a monthly service charge if you are doing not meet similar guidelines.

ATM Fee: $3.00 whenever you withdraw cash from an out-of-network ATM or from any teller. $0.50 per balance inquiry at out-of-network ATMs. you'll avoid these fees by only withdrawing money from in-network ATMs, though you ought to remember that individual ATM operators may have their own fees.

Reloading at Retail Locations: this will cost you up to $4.95, counting on the retailer. To avoid this, keep the maximum amount of your money digital as possible in order that you won’t need to deposit cash. If you're employed within the industry , this is often much easier said than done.

Replacement Card Fee: $4.95. you'll avoid this fee by not losing, damaging or having your card stolen, but that’s everyone’s goal, anyways.

Foreign Transaction Fee: 3%. you'll avoid this fee by not using this card out of the country, or by using another card that carries no foreign transaction fees.

Failure to Register: $5.95 starting after 90 days. If you buy your card face to face , you'll got to register and submit all necessary identifying documentation within 90 days, otherwise, you’ll start incurring a $5.95 fee. Avoid this by registering within 90 days.

Charge for Checks: $5.95/12 checks. you'll potentially avoid this fee by paying all of your bills online or in cash. (Just make certain to always get a receipt.) If a check is mandatory, you can’t really get around this one.

PayPal Service Fee: $3.95 whenever you set cash directly into PayPal. to urge around this fee, find differently to fund your PayPal account.

Pros & Cons

Pro: Provides how for several to access financial services that otherwise wouldn’t be available to them.

Con: These services are riddled with fees.

Pro: Direct deposit is free, and provides how to dodge expensive cash-checking services.

Con: you'll only have $2,500 in your account at a time unless you've got filed for an immediate deposit exception and been approved.

Pro: Many of those fees are often circumvented if you've got internet access.

Con: The very reason you would like a prepaid card could also be lack of internet access.

Pro: Reasonable limit on fees if your card features a zero balance.

Con: The monthly down payment requirement to avoid a Monthly Charge might exceed your revenue.

When to Migrate faraway from Prepaid Cards

If you've got a prepaid card, do everything you'll to seek out a reputable bank or depository financial institution to use instead. Investigate their fees, too, to form sure you’re not paying an excessive amount of for services that are free with many traditional financial institutions.

Though, there are justifiable reasons for having a prepaid card. If you've got a poor banking history, for instance , traditional banks won't allow you to open a checking or bank account .

Another reason you'll choose a prepaid card if you don’t have a standard financial organization in your neighborhood, and lack how to regularly access one in another neighborhood. If this is often the case, address your computer. Mobile banking has been made easier and more reliable in recent years, and ready to "> you'll do almost anything that you’d be able to do at a physical branch.

If you don’t have access to a computer or a home internet connection, it's not advised to use the library to try to to mobile banking as this connection is shared and not secured. Instead, you'll want to seem at doing mobile banking via your smartphone, or check out the ConnectHome program to urge a low- or no-cost computer and/or internet connection.

If you don’t have a sensible phone and have exhausted all other options, a prepaid card could also be your best bet. enter together with your eyes wide opened. find out the simplest thanks to dodge fees in order that they don’t dig your pay or benefits. Then, as you make your credit score or obtain access to phone banking, migrate away to a standard bank account that's almost bound to be less laden with fees, allowing you to stay more of your own money.

Green Dot Customer Service Corporation

The Green Dot Customer Service Corporation is an United Atates of America financial technologies and bank company headquartered in Pasadena, California. it's the world's largest prepaid open-end credit company by market capitalisation . Green Dot Customer Service is as well a payments platform company and is that the high-tech platform employed by Apple pay , Uber, and Intuit. the corporate was founded in 1999 by Steve Streit as a prepaid open-end credit for teenagers to buy online. In 2001, the corporate pivoted to serve the "unbanked" and "underbanked" society. In 2010, Green Dot Customer Service Corporation became public with a evaluation of $2 billion. Since its beginning, Green Dot Customer Service has acquired variety of companies within the mobile, financial, and tax industries including Loopt, AccountNow, AchieveCard, UniRush Financial Services, and Santa Barbara Tax Products Group.

Green Dot Corporation is an issuer of prepaid MasterCard and Visa cards within the us . These products are obtainable at nearly 100,000 retail stores as well as CVS, Rite Aid, Walgreens, Dollar Tree; also as discounted offerings at Meijer and Walmart. Green Dot Customer Service is also transfer direct deposit to individuals' (such as Social Security benefits) from the United States government to nonpublic bank accounts. There have also been providing co-branded card schemes to Walmart, Boost Mobile, AT&T and Citibank. In 2007, Green Dot Customer Service increased $20M in funding, as well as Sequoia Capital as an investor. In 2008, Green Dot Customer Service halt to supply prepaid Discover cards. On July 30, 2019, Green Dot launched the Unlimited Cash Back checking account , offering 3% cash back also as a bank account offering 3% interest referred to as the Unlimited cashback account.

The cards are standard debit cards, and not a line of credit. Purchases are deducted from the balance stored on the cardboard . The user can add additional money to the cardboard by remunerating funds at a retail store's point of sale, or in certain cases from their paycheck.