Just How GO2bank Will Help Customers Without a Traditional Bank Account

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As part a strategy to expand its market for financial options, Environment-friendly Dot Corp. Wednesday launched GO2bank, a mobile-banking application planned to assist the 7.1 million unbanked homes in the USA manage their finances.

Green Dot claims it is releasing the program as a means to remove the costly charges many unbanked customers are billed for financial services, such as check paying. In 2019, almost 12% of unbanked consumers used fee-based economic solutions for such solutions as check cashing, cash orders, as well as costs settlement, according to a 2019 research from the Federal Down Payment Insurance Corp

. The brand-new app includes over-limit security of approximately $200, as much as 7% money back awards at greater than 90,000 retail circulation areas, including CVS, Buck General, Walgreens as well as Walmart, a 1% interest rate return on Go2bank interest-bearing accounts, and accessibility to a GO2bank bank card with no credit history check or annual cost, along with a debit card.

In addition, Go2bank users can access their account through a network of greater than 19,000 no-fee ATMs, as well as the capacity to secure and also unlock their account making use of the mobile app. Go2bank individuals obtaining straight deposit can additionally access funds as much as two days early. Users getting federal government benefits can access funds as much as 4 days early.

click here Environment-friendly Dot, which offers more than 33 million clients through its retail as well as direct-to-consumer items, views GO2bank as component of long-term strategy to provide services that bring in new consumers as well as preserve their loyalty, a business spokesperson says using e-mail.

" A lot of Americans struggle to access their cash, are paying way too much for financial products, as well as are negatively affected by the lack of solutions developed to match their demands," Dan Henry, chief exec of Green Dot said in a prepaid declaration. "GO2bank is developed to be the go-to destination for seamless, budget-friendly, beneficial banking-- incorporating the protection, stability, and experience of an FDIC-insured bank with the development as well as dexterity of a leading fintech."

Environment-friendly Dot is sustaining the launch of GO2bank with a nationwide television marketing campaign including two commercials, along with a brand-new Web site, digital marketing, social media sites, as well as direct mail.