Green Dot Bank

Green Dot Bank is a federally chartered bank and one of the pioneers in the prepaid debit card and mobile banking space. It issues prepaid reloadable debit cards under the Green Dot brand and also serves as the issuing bank for prepaid and banking programs operated by retailers and other companies. Green Dot products are widely available at retail locations including grocery stores, pharmacies, and big-box retailers.

Green Dot's core consumer products include prepaid debit cards and a mobile banking account. Prepaid debit cards work like debit cards in that you can only spend what you have loaded onto the card. They are not credit cards and do not build credit. Prepaid cards can be useful for consumers who want to control spending, avoid overdraft fees, or do not have a traditional bank account.

Green Dot also offers a secured credit card under the Green Dot Platinum brand, which requires a cash deposit that becomes the credit limit. This card does report to the major credit bureaus, so it can help build credit over time.

Green Dot also acts as the issuing bank for banking programs operated by other companies, including certain retail-branded financial products, so consumers may encounter Green Dot Bank on account documents without having signed up for a product under the Green Dot name directly.

Fees on Green Dot products vary by card and program. Prepaid cards may charge monthly fees, reload fees, or ATM withdrawal fees. Read the full terms and fee schedule for any specific Green Dot product before signing up. Green Dot Bank is FDIC-insured and regulated by the Office of the Comptroller of the Currency.