Today we are going to give you a quick summary and review of the GreenDot prepaid Debit Card Program. We suggest you read the complete review and even compare other options below this summary under our related links section. There are many choices and each should be compared carefully to ensure you are getting the best deal and understand the differences between the cards and what you are getting with each. The official site for this card is at www.GreenDot.com and can be activated in minutes.
As the banks go about their business to try to nickel and dime their customers to the greatest extent possible, alternative banking tools are gaining headway with the discontented, the unbanked and the underbanked. Prepaid debit cards have been growing in popularity over the last several years and the www.GreenDot.com Prepaid Debit Card program has been the trend-setter offering an attractive checking/credit card/debit card alternative even a banker could love.
GreenDot Prepaid Debit Card Essentials
Over the years, prepaid cards have earned a reputation for high or hidden fees with little flexibility in use. GreenDot has changed the landscape with its prepaid debit card that can be used with few limitations and at potentially no cost. Here’s how that can work.
You can obtain the card for free from the GreenDot website. Otherwise it costs up to five bucks if you get it at retail store. If you sign up for Direct Deposit, your card will automatically reload at no cost. Reloading with cash at a retail store using Swipe Load or MoneyPak will cost up to $4.95 per load.
The monthly charge of $5.95 is waived when you load a minimum of $1,000 or have at least 30 qualifying transactions in a 30 day period. ATM fees, which are normally $2.50 per withdrawal, are waived when you use any one of 15,000 Money-Pass ATMs. If you do go to a bank for a cash withdrawal you will be charged $2.50.
In terms of flexibility and limitations, the card, issued as either a Visa or MasterCard debit card is accepted anywhere a regular credit card is accepted. You’re able to maintain a maximum daily balance of $2,500, unless you use Direct Deposit which allows you to keep $10,000 on balance. You can spend up to $2,500 and withdraw up to $400 a day.
Is the GreenDot Prepaid Card Program for You?
The GreenDot Prepaid Card is the ideal alternative for people who either don’t have a checking account or who are serious about finding a cheaper and less frustrating alternative. As shown above, the GreenDot Prepaid Card doesn’t have to cost you anything if it becomes your primary banking source. But, if it’s not used wisely, you could run up some fees. Even at $5.95 a month, however, it’s still cheaper than most checking accounts. And, as an alternative to secured credit cards, it is most definitely cheaper; however you won’t be building any credit history with a prepaid card.
For people who want to get control of their cash management, the GreenDot Prepaid Card program offers a number of tools. You can track your spending and pay your bills online. All in all, it’s a worthy alternative to traditional banking.
We hope you enjoyed this Summary and Review of the www.GreenDot.com – GreenDot Prepaid Debit Card Program.