How GO2bank Will Aid Consumers Without a Bank Account

As part a technique to broaden its market for banking solutions, Environment-friendly Dot Corp. Wednesday released GO2bank, a mobile-banking application meant to help the 7.1 million unbanked households in the USA handle their finances.

Eco-friendly Dot says it is launching the program as a way to remove the costly charges many unbanked customers are charged for monetary services, such as check paying. In 2019, nearly 12% of unbanked consumers utilized fee-based monetary solutions for such solutions as check cashing, money orders, as well as expense settlement, according to a 2019 study from the Federal Deposit Insurance Corp

. The brand-new application consists of overdraft account security of up to $200, as much as 7% money back awards at even more than 90,000 retail circulation areas, including CVS, Dollar General, Walgreens and also Walmart, a 1% annual percentage rate return on Go2bank savings accounts, as well as accessibility to a GO2bank charge card without any credit score check or yearly cost, in addition to a debit card.

In enhancement, Go2bank users can access their account via a network of more than 19,000 no-fee ATMs, as well as the capacity to lock as well as unlock their account making use of the mobile app. Go2bank individuals getting straight down payment can additionally access funds as much as two days early. Individuals getting federal government advantages can access funds approximately four days early.

Green Dot, which serves greater than 33 million clients through its retail as well as direct-to-consumer items, sights GO2bank as component of long-lasting technique to provide services that bring in brand-new consumers and retain their loyalty, a company agent states through e-mail. www go2bank com start

" A lot of Americans struggle to access their cash, are paying as well a lot for monetary products, and also are adversely affected by the absence of solutions created to fit their requirements," Dan Henry, president of Environment-friendly Dot stated in a pre-paid declaration. "GO2bank is built to be the best destination for seamless, affordable, useful financial-- integrating the security, stability, as well as experience of an FDIC-insured financial institution with the advancement and also dexterity of a leading fintech."

Environment-friendly Dot is sustaining the launch of GO2bank with a national television advertising campaign featuring 2 commercials, in addition to a brand-new Internet site, digital marketing, social media, and also straight mail.