How GO2bank Will Aid Customers Without Credit Union
As part a strategy to widen its market for financial solutions, Environment-friendly Dot Corp.
Wednesday introduced GO2bank, a mobile-banking application planned to aid the 7.1 million
unbanked households in the United States manage their funds.
Eco-friendly Dot says it is releasing the program as a means to eliminate the expensive fees
many unbanked consumers are charged for economic solutions, such as check cashing. In
2019, virtually 12% of unbanked consumers used fee-based economic solutions for such
solutions as check cashing, money orders, as well as costs settlement, according to a 2019
research from the Federal Down Payment Insurance Coverage Corp
. The brand-new app includes overdraft account defense of up to $200, up to 7% cash
money back awards at more than 90,000 retail circulation areas, consisting of CVS, Buck
General, Walgreens as well as Walmart, a 1% interest rate return on Go2bank financial
savings accounts, and accessibility to a GO2bank credit scores card without any debt check
or annual cost, along with a debit card.
Furthermore, Go2bank individuals can access their account via a network of greater than
19,000 no-fee ATMs, as well as the ability to secure and unlock their account making use of
the mobile app. Go2bank users receiving direct down payment can likewise access funds
approximately two days early. Users obtaining federal government benefits can access funds
approximately 4 days early.
Eco-friendly Dot, which serves greater than 33 million consumers via its retail and direct-to-
consumer products, views GO2bank as part of long-term approach to provide solutions that
attract new clients and also preserve their loyalty, a firm agent states through e-mail.
" A lot of Americans battle to access their cash, are paying way too much for financial items,
and also are adversely affected by the lack of services designed to fit their demands," Dan
Henry, president of Eco-friendly Dot claimed in a prepaid statement. "GO