Exactly How GO2bank Will Aid Consumers Without Credit Union Account

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As part a method to widen its market for financial solutions, Green Dot Corp. Wednesday launched GO2bank, a mobile-banking application intended to help the 7.1 million unbanked households in the United States manage their financial resources.

Eco-friendly Dot says it is introducing the program as a way to eliminate the pricey costs lots of unbanked customers are billed for financial solutions, such as check cashing. https://www.clipsit.net/www-go2bank-com-start-activate-your-go2bank-card/ In 2019, nearly 12% of unbanked consumers used fee-based financial services for such solutions as check cashing, cash orders, and also bill settlement, according to a 2019 research study from the Federal Deposit Insurance Policy Corp

. The brand-new app includes overdraft account security of up to $200, approximately 7% cash back rewards at more than 90,000 retail circulation locations, including CVS, Buck General, Walgreens as well as Walmart, a 1% interest rate yield on Go2bank savings accounts, as well as accessibility to a GO2bank charge card without any credit check or yearly charge, in addition to a debit card.

Additionally, Go2bank users can access their account via a network of more than 19,000 no-fee Atm machines, and the capability to secure and also open their account making use of the mobile app. Go2bank users obtaining direct deposit can also access funds up to two days early. Customers receiving federal government advantages can access funds approximately four days early.

Green Dot, which serves even more than 33 million customers via its retail and also direct-to-consumer products, views GO2bank as part of long-lasting method to provide services that bring in new customers as well as preserve their commitment, a company speaker states by means of e-mail.

" Way too many Americans battle to access their cash, are paying excessive for financial items, and are negatively impacted by the lack of options created to match their needs," Dan Henry, primary executive of Green Dot said in a pre-paid declaration. "GO2bank is built to be the go-to destination for smooth, economical, helpful banking-- incorporating the safety and security, security, and also experience of an FDIC-insured bank with the technology as well as dexterity of a leading fintech."

Green Dot is sustaining the launch of GO2bank with a nationwide television marketing campaign including two commercials, as well as a brand-new Internet website, digital marketing, social networks, as well as straight mail.