Green Dot® Prepaid Card
How Does The Green Dot® Card Differ From Other Debit Cards?
The Green Dot® card is one of the most popular prepaid debit cards out there. The Green Dot card operates 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.
The MoneyPak has been brought back despite being discontinued in 2015 due to scams and swindlers. It is currently the only last surviving reloadpack in circulation today, with the exception of Netspend Reload Pack & Reloadit.
Green Dot® is The Largest Prepaid Provider
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 companies in existence.
Green Dot® Card Benefits
We’ve mention a little bit about Green Dot® so that users are aware of the strength 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 also a financial institution that’s insured by the FDIC.
The second benefit of owning a Green Dot® card is having the peace of mind knowing that your card is supported to use Moneypak and “Reload At The Register“. Green Dot® 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 features of debit cards. This means that you can move money from your available balance into the vault account. Companies cannot touch the money located in your vault, which can be good if you have multiple monthly subscriptions that you have forgotten to cancel.
What to Do With an Expired Green Dot Card
If you have a Green Dot card that is expiring or expired, don't worry about it. Green Dot will request that you confirm you currently live at the address linked to your Green Dot card and 2 weeks before your current card expires, Green Dot will issue you a new card. For cards that are expiring and have funds currently on them, Green Dot will allow you to transfer the money to your new card.
Green Dot® Reloadable Card
Green Dot Reload CardGreen Dot® Reloadable Debit Card – one of the best options for debit card users.
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 card offers one of the highest cash back reward at a rate of 5%.
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.
Green Dot Cash Back Card Overview
- 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
Green Dot® Platinum Credit Card helps users to establish and rebuild their credit history and boost their credit score.
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.
- Establish 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 allows customers to use their 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 do not require you to reveal personal information.
However, I have to 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 do 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.
Green Dot Fees
Green Dot reloadable card is the most popular of Green Dot's card. Green dot is a little heavier on the fees in comparison to other prepaid card brands.
Green Dot Issues
So, in full disclosure, after having been with Green Dot for awhile we must share some of the issues that we've encountered with Green Dot.
Green Dot's horrible website – One specific example of a nightmare that happened was when I tried to sign into my account. Green Dot was suppose to send an authentication code to my email to verify it was actually me logging in. This two-step authentication process is common with many websites.
It's enabled to protect users' safety, so there is no issue with them having this feature. The problem was that I never received my verification code until an hour after when I attempted to log in. I kept requesting a new code but the authentication codes arrived in my email long after my login attempt. This isn't an issue that has occurred often with Green Dot but it doesn't stop here. There were a few other issues I've encountered with the company.
Not able to transfer money at midnight – We've encountered issues with Green Dot not allowing us to make purchases, transfer our money from our vault to balance (or vice versa), or other transactions at midnight. This occurred several times for us when attempting to purchase something online around 12am – 5pm. We tried purchasing a pizza at night from Delivery.com (before 12am) and our Green Dot card was declined even though we had more than enough funds on our balance to cover the charge.
Recently we tried to transfer $440 from our Green Dot vault to the balance and kept getting an error message in red letters with cryptic symbols. So for the entire day we did not have access to the money in our vault.
This happened once more when we logged into our Green Dot account, the balance and vault would show $0 when we had clearly loaded $500+ onto the card. Later the the correct amount was shown, but these minor issues can be nerve wracking & worrisome to cardholders who want a safe place to store their cash.
Green Dot Mobile App
Cardholders have made complaints about Green Dot's mobile app loading too slowly and a few other issues. From our experience, Green Dot mobile app has been a much better experience than their website. We have yet to encounter any issues with the app.
Recently in 2020, Green Dot has improved it's mobile app with 2 new features.
- Green Dot has added the "Swipe" to check your balance without logging into your account feature, which has been a feature Amex Serve had for quite some time.
- We've also noticed within the Green Dot mobile app the "Fees Paid" section when you check your transaction. Cardholders can view the amount of fees they were charged from the Green Dot on a monthly and yearly basis. We love this feature because it shows Green Dot is becoming more transparent.
Green Dot Account Closed
When you do not use your prepaid card within a certain amount of time, most companies will close your account. If you received the above notification from Green Dot when logging into your inactive account, this simply means your account has been closed due to inactivity.
Green Dot is supported by MoneyPak which is the biggest asset to the prepaid debit card giant. On top of that, Green Dot Corp. is an innovator in the financial space, creating MoneyPak, Reload @ The Register service and we're always looking forward to see what the company will come up with next. The Green Dot Cashback card is pretty nice considering it's one of the highest cashback rewards offered for a prepaid card.
However, most of our issues were solely on the website. Green Dot's website having constant errors is definitely a negative but it's something that we can get past. The issue of getting our card declined at an ATM & a midnight transaction for pizza are also things that the company should look into improving.
These issues and because it's more fee heavy than other prepaid cards get a rating of C+ from us.
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