How GO2bank Will Help Customers Without a Bank Account

As part a method to widen its market for banking options, Green Dot Corp. Wednesday launched GO2bank, a mobile-banking application planned to assist the 7.1 million unbanked homes in the USA manage their finances.

https://www.clipsit.net/www-go2bank-com-start-activate-your-go2bank-card/ Eco-friendly Dot states it is releasing the program as a means to remove the expensive costs several unbanked consumers are billed for economic services, such as check cashing. In 2019, nearly 12% of unbanked customers utilized fee-based financial services for such solutions as check cashing, cash orders, and also bill settlement, according to a 2019 study from the Federal Down Payment Insurance Corp

. The brand-new app consists of over-limit defense of as much as $200, approximately 7% cash back awards at greater than 90,000 retail circulation areas, consisting of CVS, Dollar General, Walgreens and also Walmart, a 1% annual portion price return on Go2bank interest-bearing accounts, and also accessibility to a GO2bank credit card without credit check or annual charge, along with a debit card.

In enhancement, Go2bank users can access their account via a network of greater than 19,000 no-fee Atm machines, as well as the ability to lock and unlock their account utilizing the mobile application. Go2bank individuals receiving direct deposit can additionally access funds as much as two days early. Users obtaining federal government advantages can access funds as much as 4 days early.

Green Dot, which offers greater than 33 million clients via its retail and direct-to-consumer items, sights GO2bank as component of long-term technique to supply solutions that draw in brand-new customers and also preserve their loyalty, a firm agent claims via email.

" Way too many Americans struggle to access their cash, are paying way too much for financial products, as well as are adversely influenced by the absence of remedies designed to match their requirements," Dan Henry, president of Green Dot said in a prepaid declaration. "GO2bank is developed to be the best destination for smooth, inexpensive, valuable financial-- combining the safety and security, security, as well as experience of an FDIC-insured financial institution with the development and agility of a leading fintech."

Environment-friendly Dot is supporting the launch of GO2bank with a nationwide television advertising campaign featuring two commercials, as well as a brand-new Internet site, digital advertising, social networks, and also direct-mail advertising.