Just How GO2bank Will Help Customers Without a Checking Account

As component an approach to broaden its market for banking services, Environment-friendly Dot Corp. Wednesday released GO2bank, a mobile-banking application intended to aid the 7.1 million unbanked households in the USA handle their financial resources.

Eco-friendly Dot claims it is introducing the program as a means to eliminate the expensive costs several unbanked consumers are charged for economic services, such as check cashing. In 2019, virtually 12% of unbanked consumers utilized fee-based monetary services for such solutions as check cashing, cash orders, and costs settlement, according to a 2019 study from the Federal Deposit Insurance Policy Corp

. The brand-new app includes overdraft account security of approximately $200, approximately 7% cash money back rewards at greater than 90,000 retail circulation places, including CVS, Buck General, Walgreens as well as Walmart, a 1% annual percent rate return on Go2bank interest-bearing accounts, and access to a GO2bank charge card without any credit check or yearly cost, in addition to a debit card.

In addition, Go2bank customers can access their account via a network of even more than 19,000 no-fee Atm machines, as well as the capacity to lock as well as open their account using the mobile app. Go2bank users receiving direct deposit can likewise access funds as much as 2 days early. Individuals receiving government benefits can access funds up to 4 days early.

Green Dot, which offers greater than 33 million consumers through its retail and also direct-to-consumer items, views GO2bank as part of long-lasting method to deliver services that attract brand-new customers and also maintain their commitment, a company speaker claims via email read more .

" A lot of Americans battle to access their cash, are paying excessive for financial items, as well as are negatively influenced by the lack of solutions designed to fit their requirements," Dan Henry, primary executive of Green Dot stated in a pre-paid statement. "GO2bank is constructed to be the best destination for seamless, affordable, helpful financial-- incorporating the safety, stability, as well as experience of an FDIC-insured financial institution with the innovation and agility of a leading fintech."

Eco-friendly Dot is sustaining the launch of GO2bank with a nationwide television marketing campaign including two commercials, along with a brand-new Internet site, electronic advertising, social networks, and direct-mail advertising.