Are you clued up of Green Dot card facilities to manage your cash? And are you aware of how swiftly you can make online transfers with Green Dot cards?
If not, then this article is for you to guide all about transferring money from a Green Dot card to a bank account in just a minute.
Green Dot debit cards are standard debit cards that allow transactions to be deducted from the card’s balance.
Let’s start with the history of the Green Dot card.
A Brief History of Green Dot Card
Many of you have already heard about Steve Streit of Green Dot Corporation. He started Green Dot prepaid card service to shop online in 1999 for teenagers.
After just 2 years, Green Dot focused on setting out the unbanked and underbanked groups. Conforming to marketing valuation, the company is now the largest prepaid debit card company in the world.
Nearly 100,00 retail shops in the United States accept Green Dot prepaid Mastercard and Visa cards.
There are numerous facilities you can avail of by card. You use your Green Dot card for online shopping, groceries, paying internet and electricity bills, and whatnot!
In addition, top up your card balance at the retail store’s point of sale by paying them cash. To top up your card, you require no minimum balance. But the loaded money in the card is protected against the unauthorized transaction.
Green Dot prepaid card allows direct deposit, which is an amazing facility. So, if you are searching for this kind of service, Green Dot can be your best choice. To get Green Dot service, you can apply online or visit a participating retailer.
Again, Green Dot cards have extra bonuses with waivable monthly charges, whereas most prepaid cards have no fees. So please be careful of the costs that are related to your account. If you are not aware enough, charges can add up quickly.
Find all the detail of how to transfer money from your Green Dot card to your bank account.
How to transfer money using a Green Dot card?
Before you learn how to transfer money using your Green Dot card, you have to get your Green Dot account number and routing number. Each Green Dot prepaid card has a separate issuing bank than the issuer of the credit card.
If you need any information regarding your card and account, just login into your prepaid card account to get all the data.
After login, click on the additional money or transfer money option. You will get the account number and routing number option under transfer money. You can transfer your money by using your account and routing number.
See, the process is much clear, easy, and convenient. This way, you can transfer money to your account or friends or relatives if you want. Or even if you’re going to transfer money to your Green Dot card from another version, it is possible too.
There is another way you can transfer money. To transfer money from your prepaid card to another bank account, you must link your Green Dot prepaid card to your bank account. After that, set up an external account for further processing.
Make two small test deposits before making any transactions to ensure that the external account setup is successful. After certification of your external account verification, you can transfer money to your card from your bank within a second.
The transaction process is easy and simple if you link your prepaid card account with your bank account. So, you log in to your account and follow the 3 things:
- The sum you would like to send
- Account to which fund will be transferred
- Account number of Green Dot prepaid card
Is a Green Dot prepaid card worthy?
You will have certain questions about why the Green Dot card is worth having? Here are the reasons answered below:
Transfer money anywhere
Transferring money using Green Dot is much easier and quicker in the US. You can send money in any place in the US from your Green Dot account to a Green Dot account user.
And the most useful of Green Dot cards is you need only the receiver’s email address or phone number to transfer money. The receiver will get the cash in a second. And again, you can deposit money to your Green Dot from another account.
Deposit funds into your Green Dot card through another bank’s website
You can directly transfer money from another bank account or your external bank account to your Green Dot. The service charge is free at Green Dot. But if other outside banks are transferring money to your Green Dot, it may not be free of cost.
Your Green Dot account can be managed through mobile apps, so paying mobile bills or online purchasing is easy.
How to get the green dot prepaid card?
The easiest way to get your Green Dot prepaid is either from the registered retail shops or website. There are simple steps to follow to collect the card from your nearest shop.
- Go to the Green Dot website to learn more.
- Select other products by clicking on them.
- Click prepaid card.
- Choose the Green Dot Visa prepaid card.
- Click learn more.
Now follow the following steps to complete the process:
Detect a location
Find a suitable location from where you can collect the card. Enable the location finder, or you can manually enter your location.
You need to meet certain requirements to get the Green Dot card. The first eligibility is to be at least 18 years old, and the second one is to have a social security number.
Fill up the data
Before you register the card, you need to fill up your full name, mobile phone number, residential address, date of birth, social security number, passport, and driving license (if you have one).
When you will get your card on hand, try to use all the features it contains. Like if you deposit $1000 every month, you will get a monthly service waiver. And do not forget to install the mobile app to make it more user-friendly.
What are the benefits of using a Green Dot prepaid card?
In the Green Dot prepaid card, you have two options available. Either you take a Visa card, or you accept Mastercard. The most happening feature of Green Dot is that it requires no deposit to open a bank account. Another amazing part is to use it on the mobile and transfer money whenever you want, wherever you want.
Let’s check out the other benefits of the Green Dot prepaid card:
1. No need for a monthly fee
If you start to deposit at least $1000 on your card each month, you will be eligible for a monthly service charge waiver. The monthly service charge is $7.95, which can easily be waived if you deposit $1000.
2. No overdraft fees
Making an overdraft from your card will not generate an overdraft fee. You will be responsible for negative balances; thus, monthly maintenance fees will be applicable if your credit is less than or equal to zero.
3. No procurement of credit checks
If you cannot acquire a credit card due to bad credit score history, you can always get a Green Dot Card and make electronic payments.
4. Ignore check-cashing services
The mobile app of Green Dot helps you cash your checks for absolutely free. You can also maintain track of your account by mobile phone check deposit option on the app. You will get an alert when your balance is low.
5. Pay online bills
You can pay your online bills for free through a Green Dot prepaid card. You can schedule the bill payment. And this feature is free of cost.
6. Other benefits
Green Dot provides some VIP benefits which are exclusive for the cardholders. In the VIP program, you will get ATM fee waivers, expedited card replacement, no-fee cash back with debit purchases, and a lot more.
What are the cons of Green Dot prepaid cards?
Green Dot prepaid card has many more benefits, but it is not flawed. There are some drawbacks that you need to keep in mind.
The cons of Green Dot card are as follow:
1. All ATM withdrawals are subject to fees
There is no ATM network for Green Dot. It uses other banks’ ATMs which incurs costs. Though you can cash out through debit transactions, the option is not always available.
2. Additional fees if balance falls below $0
You need to deposit as it is a prepaid card or you will be charged fees if your balance is near $0.
3. High fees for paper checks
Checks will set you back roughly $5.95, which is quite pricey. And, checks must be pre-authorized via the mobile app before being used.
How do Green Dot Cards Work?
You can use the mobile app to deposit or direct from government deposits or paychecks. You can use your Green Dot just like other debit cards. It can be used everywhere that accepts Visa cards.
How can someone send me money on my Green Dot card?
The process to send money to your Green Dot card is simple. The steps are as follows:
- At first, they need to log in to the account.
- Navigate to pay bills and people. They need to click on pay people and send money.
- Then they have to fill up the recipient’s name, email, phone number, memo, and the amount of money.
- Click on continue and review the information.
- Select send money option. The transaction is complete.
How can I send money from my Green Dot card?
Again, the process is simple and convenient to send money to someone in the US if you have the recipient’s valid email address or phone number.
- Login to your account and click on pay bills and people.
- Select people and send money.
- Enter the recipient’s name, email address, phone number, memo, and the amount of money.
- Click continue to complete the transaction.
Green Dot prepaid card is a new trend that made online banking and transaction easy and simple. Most online banking is now trying to transform into a cashless system. So, a prepaid card eases the process here.
Green dot prepaid card helps you make online transactions even if you have horrible credit card history, which makes your life easy, cost-effective and simple regarding banking.