Wednesday, January 6, 2021

Green Dot Launches New Mobile Banking Effort, GO2bank

Pasadena-based Green Dot Corporation, which operates a number of prepaid payment cards and online banking services, says it is launching a new mobile bank called Go2bank. The company said the new bank is aimed specifically at Americans who are living paycheck-to-paycheck. The new banking offering--delivered via an app--offer up to $200 overdraft protection, early access to pay, credit tools, and more. Green Dot says the service features low or no monthly fees, ability to get paid up to two days early, or four days early for government benefits, and more. The company said it is targeting the approximately 7.1 millin U.S. households who were unbanked in 2019, who are using expensive services like check cashing, money orders, and bill pay services.