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Green Dot Launches the Unlimited Cash Back Bank Account to Help Americans Build Savings While They Spend
Unlimited 3% cash back on online and in-app purchases and a free High Yield Savings Account paying a 3% Annual Percentage Yield
“Spend Like Normal and Save Up Like Crazy”
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(Photo: Business Wire)
The Unlimited Cash Back Bank Account by
“Everyone knows that it’s smart and responsible to save up money for the future, but we also know that, for most people, saving up money is hard to do,” said
In addition to offering industry-leading value, Green Dot, renowned as an innovative financial technology leader, has designed the Unlimited mobile app and the linked Visa debit card to easily integrate into the lives of tech savvy customers. The app offers many popular features and services that make the account easy to use, including mobile check deposit, an easy way to transfer money from other bank accounts, the ability to send money to friends and family with P2P, the ability to pay anyone with free electronic bill pay, and a fun and intuitive design that allows customers to easily track their spending, track their savings, and track the amount earned in cash back bonus money with every online or in-app purchase they make. The Visa debit card that is linked to the account is EMV protected for security and ready to be set up for Apple Pay, Google Pay, and Samsung Pay.
With the Unlimited Cash Back Bank Account, Green Dot is using its unique, vertically integrated operating platform to invent what it believes is the richest cash back debit card and the overall best bank account value in America.
Americans are in a savings crisis. According to the Federal Reserve Board's latest Report on the Economic Well-Being of U.S. Households1, 4 in 10 Americans said they do not have adequate savings to cover an unexpected expense of just
Focused on Value; Not on Fees
Unlike most traditional bank accounts, the Unlimited Cash Back Bank Account has no overdraft fees and no bounced check fees, no minimum balance requirements and no monthly fee when the customer spends
“The rewards associated with the Unlimited Cash Back Bank Account rival those of the best credit cards, but this Visa card is a debit card; not a credit card. As such, Green Dot doesn’t require a certain minimum credit score to open the account. Plus, consumers can benefit from the account’s rich cash back offer without needing to incur the risk of getting into credit card debt, which is a common concern associated with using credit cards,” said Streit.
The Unlimited Cash Back Bank Account’s Unique Features and Benefits
- Unlimited 3% Cash Back Bonus: Every time you make an online or in-app purchase with your Unlimited Visa debit card,
Green Dot Bankwill add 3% of the purchase amount into the customer’s cash back bonus balance.
- Integrated High Yield Savings Account with 3% Annual Interest: The Green Dot Bank High Yield Savings Account is an
FDICinsured savings account that pays a 3% annual interest rate (3% annual percentage yield) on deposits up to $10,000.
- ASAP Direct Deposit: No need to wait for payday. Green Dot customers receive their pay up to 2 days before payday and government benefits up to 4 days before benefits day with Green Dot’s ASAP Direct Deposit.
- Free ATM Network: Customers can usethousands of free conveniently located ATMs nationwide.
- No Overdraft or Penalty Fees: Green Dot has no overdraft fees, no bounced check fees and no minimum balance requirement.
- Deposit Cash for Free: Make free cash deposits at participating national retailers that feature
Green Dot Bankproducts.
- Free Online Bill Pay: Set up one-time or recurring bill payments with Green Dot. You won’t have to make any extra stops, write checks, or pay for stamps just to pay your bills.
Consumers can learn more about the Unlimited Cash Back Bank Account and open their account at Greendot.com. Or, consumers can go to any one of 100,000 major national retailers that feature
About Green Dot
1The Federal Reserve Board, 2019
The Unlimited Debit Card is issued by
Source: Green Dot