Green Dot Corporation (NYSE: GDOT) today announced the launch of GO2bank, a new mobile bank designed to help the two in three Americans living paycheck to paycheck stretch their money further and build a stronger financial foundation.1 GO2bank makes money access and management a safe, easy, useful part of everyday life with tools that help address common financial challenges and opportunities to improve long-term financial health, all in one easy-to-use mobile app.
“Too many Americans struggle to access their money, are paying too much for financial products, and are negatively impacted by the lack of solutions designed to suit their needs,” said Dan Henry, CEO of Green Dot Corp. “GO2bank is built to be the go-to destination for seamless, affordable, useful banking – combining the security, stability, and experience of an FDIC-insured bank with the innovation and agility of a leading fin-tech.”
Approximately 7.1 million U.S. households (5.4 percent) were unbanked in 2019, and nearly 12 percent were utilizing expensive methods like check cashiers, money orders, and bill pay services to access the cash they need.2 GO2bank is designed to help customers reduce these costs and build confidence and control in the way they manage their money with up to $200 overdraft protection, high-value rewards, high-interest savings, and opportunities to establish, build, and track credit, regardless of credit history. GO2bank also features low or no monthly fees3, easy access to more than 90,000 retail distribution locations nationwide to deposit money quickly and conveniently4, and the ability to get paid up to two days early (or up to four days early for government benefits).
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With GO2bank, customers have access to industry-leading value and features, including:
- Overdraft protection: Up to $200 of overdraft protection to help hold you over to payday.5
- Get paid early: Access pay up to two days early, or government benefits up to four days early.6
- High-value rewards: Up to 7 percent cash back rewards in the app on a wide variety of popular retailers.7
- High-interest savings: GO2bank offers a savings rate that is 10X the national average.8
- Access to credit: GO2bank’s Secured Credit Card is available with no credit check or annual fee, so customers can establish and build credit, regardless of credit history.9
- Security and peace of mind: Beyond the safety and security that comes with being a chartered, FDIC-insured bank, GO2bank’s mobile app features one-click lock/unlock, SMS alerts, and more.10
“The year 2020 illuminated and accelerated the demand for better digital banking and payments options,” Henry said. “With GO2bank, Americans now have access to safe, seamless, affordable banking as well as tools to build a stronger financial foundation, all on a simple, intuitive platform that will grow and evolve with our customers over time.”
Green Dot has a 20-year history of serving more than 33 million customers through its retail and direct-to-consumer products, and many more through banking as a service partnerships with highly-respected brands like Apple, Walmart, Intuit, Uber, Amazon, and many others.
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