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Green Dot Prepaid Card Review Advertiser disclosure You’re our first priority. Every every time. We believe that everyone should be able make financial decisions with confidence. And while our site does not include every company or financial product in the marketplace, we’re proud that the advice we provide as well as the advice we provide as well as the tools we design are impartial, independent, straightforward — and free. So how do we make money? Our partners pay us. This can influence the products we write about (and where those products appear on the website), but it in no way affects our recommendations or advice, which are grounded in hundreds of hours of study. Our partners do not be paid to ensure positive reviews of their products or services. . Green Dot Prepaid Card Review by Jeanne Lee Jeanne is a former writer at NerdWallet who focuses on credit, debt and loans. She has covered financial issues for more than 20 years, with stints at Fortune as well as Money magazines. Feb 9 2021 Edited By Alice Holbrook Assigning Editor | Savings, homebuying and banking products Alice Holbrook joined NerdWallet in 2013 and is an editor on the home/mortgages team. Before that, she worked as an editor for the team that dealt with banking that covered banking and insurance as a journalist as well as working on the copy desk. She has had her work covered by USA Today, MarketWatch, Newsweek and The Washington Post. Email:

. A majority or all of the items featured here come from our partners who compensate us. This affects the products we review as well as the place and way the product appears on the page. However, it does not influence our opinions. Our views are our own. Here’s a list of and . This Green Dot card is an FDIC-insured, refillable prepaid debit card that can be used to make payments and purchases and withdraw cash. Green Dot cards are sold at retailers such as CVS, Rite-Aid and Wal-Mart. The prepaid debit card, it’s the Green Dot Prepaid MasterCard or Visa is a card with less of a monthly cost than the different Green Dot cards. The Green Dot card has no free ATM access. If that’s a deal breaker for you, look through our list of for some other options. Best for: People who have a minimum reload of $1,000 monthly. People who do not make use of paper checks. Customers who wish to access banking services without the requirement of an identity check. >> Want to know how to use this card? Find out more. Green Dot Card Pros: Free online and mobile bill pay. Free mobile and direct deposit. Visa as well as MasterCard are popular among merchants. If you are looking for a method to build credit? Learn about Green Dot Card Cons: There is an astronomical $7.95 monthly cost (waived with deposits of at least $1,000 a month). No free ATM network. There’s a 3rd ATM cost, in addition to any fees the ATM owner is charged. Cashing your card at stores can cost between $5.95 and $5.95. Withdrawing cash through the bank teller is $3. Paper checks cost $5.95 per dozen. >> Are you ready to open a savings account instead? See the Overview of the prepaid debit cards. What is a prepaid debit card? A Prepaid debit card can be described as a form of payment card that only allows you to use the money that you put on the card. They don’t assist in building credit. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa, Mastercard or American Express. It’s safer and easier than using cash. The prepaid cards usually have a mobile app to deposit checks or transfer money. Find out more on our . Unlike checking accounts, debit cards that are prepaid might not have certain services, such as free ATM branches, branch networks, as well as checks, among other options. If that doesn’t work for you, see the list below of . If you’ve been struggling with banks before, check out . Prepaid debit card vs. debit card in comparison to. credit card prepaid debit cards — make payments prior to you load funds onto the card via cash, checks direct deposit, or bank account prior to making payments for transactions. debit cards: pay today: You use cash directly from a checking account when making purchases or withdrawing money at an ATM. Credit cards — pay later: You can borrow money from a financial institution when you make use of the card. You repay the loan in the future. What is the procedure for FDIC insurance for prepay cards work? Prepaid debit cards typically come with FDIC insurance, which helps keep your funds protected in case the issuer fails to pay its bills. Only financial institutions can be covered by FDIC insurance, so a prepaid card is either controlled by a bank or by a prepaid card provider that is partnered with a bank to provide that insurance. It is necessary to register your debit card prepaid by providing your full name, address and other identification information to be eligible to receive FDIC insurance as well as other protections. The author’s bio: Jeanne Lee is former personal finance journalist for NerdWallet. She also wrote on behalf of Fortune and Money magazines. On a similar note… Find the best checking account NerdWallet’s top picks for the top checking accounts. Dive even deeper in Banking Find more money-saving strategies delivered straight to your inbox. Sign up and we’ll send you Nerdy articles about the money topics that are important to you and other strategies to get more out of your money.

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