As part an approach to broaden its market for financial services, Environment-friendly Dot Corp. Wednesday launched GO2bank, a mobile-banking application intended to aid the 7.1 million unbanked households in the USA manage their funds.
Environment-friendly Dot claims it is introducing the program as a way to remove the pricey costs many unbanked consumers are charged for financial services, such as check paying. In 2019, virtually 12% of unbanked customers made use of fee-based economic services for such services as check cashing, cash orders, and also costs repayment, according to a 2019 research study from the Federal Down Payment Insurance Coverage Corp
. The new app includes overdraft account protection of approximately $200, approximately 7% money back rewards at greater than 90,000 retail circulation locations, including CVS, Dollar General, Walgreens and also Walmart, a 1% yearly portion price return on Go2bank financial savings accounts, and accessibility to a GO2bank bank card without credit check or yearly fee, along with a debit card.
Furthermore, Go2bank customers can access their account via a network of even more than 19,000 no-fee Atm machines, and the ability to secure and also unlock their account using the mobile application.
see the www go2bank com start in action Go2bank customers receiving direct deposit can additionally access funds as much as 2 days early. Users obtaining federal government advantages can access funds as much as 4 days early.
Green Dot, which offers greater than 33 million customers through its retail and direct-to-consumer products, sights GO2bank as part of lasting approach to supply solutions that bring in brand-new consumers and also maintain their commitment, a company spokesperson states via email.
" Way too many Americans battle to access their cash, are paying excessive for economic products, and also are negatively influenced by the lack of remedies created to fit their demands," Dan Henry, president of Environment-friendly Dot said in a prepaid statement. "GO2bank is built to be the go-to location for seamless, budget friendly, useful financial– combining the safety, stability, as well as experience of an FDIC-insured financial institution with the innovation and also dexterity of a leading fintech."
Green Dot is supporting the launch of GO2bank with a national television marketing campaign featuring two commercials, in addition to a brand-new Website, electronic advertising and marketing, social networks, as well as direct-mail advertising.