(This may include uploading a copy of your state-issued ID, such as a driver’s license.) That said, once you’ve purchased a Green Dot card (from one of 90,000-plus partner retailers nationwide), you have to provide your name, address, date of birth, Social Security number, phone number and any other information Green Dot needs to verify your identity. Fees and restrictionsīecause prepaid Green Dot debit cards don’t require a bank account or credit check, there are few restrictions on ownership: Most people 18 years or older can qualify. Once it’s registered, your Green Dot card includes federal deposit insurance through the issuing bank (in this case, Green Dot Bank), plus protection against loss, theft and fraud, thanks to a Consumer Financial Protection Bureau rule enacted in April 2019. This built-in spending control is one of the biggest advantages of prepaid cards, as it inherently prevents you from incurring overdraft fees or racking up credit card debt. Once it’s gone, you can’t make more purchases until you replenish your balance. Since you’re not drawing funds against a bank account or accessing a line of credit when you use a Green Dot card, your spending limit is capped at the amount of money you loaded onto it ahead of time. Green Dot’s mobile app also lets you enjoy some of the same benefits of a regular bank card, including direct deposit, money transfers, lock/unlock protection, customizable account alerts, tap-and-go payments (where offered) and mobile wallet compatibility. In other words, a prepaid Green Dot card allows you to pay bills, buy stuff online, withdraw money from ATMs and cash checks, among other things. How do Green Dot prepaid cards work?Īs noted above, Green Dot cards function similarly to debit cards without requiring an existing bank account. Most recently, Green Dot launched GO2bank, the second iteration of its mobile banking service for consumers. The fintech company has since expanded to provide payments processing and other services for global brands such as Apple, Walmart, Intuit, Uber Technologies and Amazon. Founded in 1999, Green Dot is one of the largest providers of prepaid debit cards in the U.S.
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