Green Dot Bank is a financial institution that operates online. Typically, the Green Dot is an online bank with competitive rates on its high-yield savings account and unlimited cashback rewards when you use its spending account. There are various kinds of transactions you can do at the company. Today, I want to take you through how to transfer money from Green Dot to PayPal.
The company started operating in 1999 and is part of the Green Dot Corporation. The financial technology and bank holding company have its headquarters in Austin, in the United States of America. The company also operates the Green Dot Network, one of the largest prepaid cards reload networks. The Green Dot prepaid card is an excellent option to carry large sums of money in your pocket.
You can get Green Dot and products online. Also, you can benefit from the company’s services in more than 55,000 retail stores, including Walmart, 7-Eleven, Walgreens, CVS/pharmacy, Rite Aid, Kmart, Kroger, Meijer, and Radio Shack. It is impressive to note that Green Dot can offer two accounts, one being an unlimited cashback bank account, plus a credit card for one person.
How to open a Green Dot account
You can open a Green Dot account online by buying a debit card for just $1.95 at a retail store or ordering it online. When you get the card, you have to activate it as per the instructions on the card. You then have to download the Green Dot Bank mobile app.
Afterward, you can set up an account containing a username and password. The password helps to secure your account from unauthorized access.
Once you have finished creating an account, you can top it up with some funds at participating retailers or set up a direct deposit. Direct deposit can help you receive your monthly salary from your employer, payments from your clients, and government benefits.
The app also helps you to deposit checks. You can also use Green Dot cards to receive and transfer money from the Green Dot card to a bank account of your choice.
Why choose Green Dot?
There are various reasons why the bank is considered among the best financial institutions in the US. These include the following.
i) Excellent customer service
If you ever develop any issue with your account, be sure that Green Dot customer care will always strive to solve your issue. You can use the online chatbot to land on the relevant article in the knowledgebase. Alternatively, you can call for help at 866-795-7597.
ii) Digital Experience on your mobile device
Sincethe institution operates mainly online, you can carry out various transactions online on the mobile app. There is lots of positive customer feedback on the Green Dot app from the Google Play Store and the App Store.
For instance, the app has 4.2 out of 5 stars and 53k votes in Google Play. In the App Store, the app has 3.6 out of 5 stars and about 7.2k votes. All the following transaction activities are available online.
- New account activation.
- Checking the deposit using your smartphone.
- Account transaction management.
- Balance viewing
- Payment of bills.
- Sending money to friends.
- Chat-based customer support.
- Finding ATMs and participating retailers around your vicinity.
Even though the institution has an office in Texas, you can easily access its services at various retailers to deposit funds in your account. The following are the major retailers you can load your account at within the US.
- Ace Cash Express
- Dollar General
- Family Dollar
- Rite Aid
You do not have to walk to a branch to line up for various transactions since you can access your account online. All you need is your smartphone. You can simply send money online using a debit card, deposit your checks and send money to others.
Furthermore, your Green Dot card allows you to easily pay bills, withdraw money at ATMs, and send money, among other things.
Green Dot online activities are end-to-end encrypted in that hackers cannot get your sensitive information. Insecure sites are easily attacked by spyware which gets essential details concerning your online banking. Since Green Dot relies on an app, it becomes difficult for any third party to intercept the communications.
Remember that you have to set up a password for your account so that no one else can log into your account except you. If you suspect that someone has mastered your password, Green Dot allows you to change it quickly. Above all, you have to use a secure internet connection.
What are the Green Dot products?
Since Green Dot is not a full banking company, it only offers two main products. These include;
a) Checking account
Green Dot offers a checking account that you can use for your daily transaction needs. A checking account allows you to access your money 24/7, either online or at an ATM, using a debit card that you receive and activate when you open an account.
With a Green Dot’s checking account, you can get 2% cashback on your online as well as with your mobile app purchases. You also have to part with a $7.95 monthly maintenance fee for your account. The maintenance fee is one of the drawbacks of the bank account since we have other banks that do not charge such fees.
Another fantastic thing with the Green Dot checking account is the early direct deposit. You can get paychecks up to two days early, and the government benefits up to four days early. That’s a significant advantage of the checking account.
b) Savings account
You can keep money with Green Dot for future usage. In most cases, you cannot amass enough money for a project suddenly, and thus saving helps you preserve funds.
You can get a savings account from Green Dot if you open an unlimited Cash Back Bank Account. The account links to a high-yield savings account. Furthermore, opening a bank account is fee-free.
You can earn a 2% annual percentage yield (APY) on your money up to $10,000. Interestingly, the account allows transfers between the savings account and the Green Dot Unlimited debit card, which is a smart way to transfer money from a debit card to a bank account and vice versa. Again, the account has no monthly fees nor minimum opening of balance.
Above all, you need to know that the bank account charges a $3 fee for out-of-network ATM withdrawals.
Which fees does Green Dot charge?
There are various fees that you have to pay as a Green Dot user. I have mentioned some above, but it is good to have comprehensive details on the fees. The following are the fees you have to pay when using your account.
- Monthly maintenance fee of $7.95 per month
You can have the fee waived if you spend at least $1,000 per month using the Green Dot debit card.
- The out-of-network ATM withdrawal fee of $3
- For paper check fees, you have to pay $5.95 for 12 checks.
Interestingly, the bank does not charge overdraft fees.
How to transfer money from Green Dot to PayPal
PayPal is one of the major mobile wallets that allows you to transfer money from one person to another. The platform operates in over 200 countries globally, the USA included since that is where the main company’s operations are managed from.
It is easy to add money to your PayPal account from your Green Dot bank account using PayPal CASH. You only need to download the PayPal app from the relevant site, generate a barcode, and scan at the register. After that, log in to your PayPal account and get started.
You can follow the following procedure to carry out the transfer process.
- Download the PayPal app.
- Log in to your account and select a retailer. After that, you will get a custom barcode to print out or show on your phone.
- After that, you can get your cash and barcode to any participating retailer.
- Your funds will automatically be added to your PayPal Account.
You can add $20 – $500 to your PayPal account at any participating retailer around you. The transaction attracts a service fee of up to $3.95.
Can I transfer money from the Green Dot card to another debit card?
It is possible to transfer money from one card to another, be it a debit card or a credit card. Therefore, you can transfer money from your Green Dot card to another debit card online. Here, you will need the routing and account numbers of the concerned debit card.
If you transfer money from Green Dot to another Green Dot debit card, you need your friend’s mobile number or email. The recipients will receive their funds as soon as they accept the money.
Green Dot is a financial company that operates online. It has headquarters in Austin, in the USA. The company is among the country’s largest operators of prepaid cards, working with Walmart, Family Dollar, Kroger, Safeway, Rite Aid, and Walgreens. You can open savings and checking accounts depending on your personal preferences. Green Dot allows you to transfer money from your account to PayPal.