GreenDot Prepaid MasterCard Review
GreenDot knows exactly what a debit card needs, which is why it has been able to set up one of the largest networks of locations where their cardholders can easily top up their prepaid debit cards. Moreover, GreenDot logos can be found all over thousands of retail stores around the world. This logo simply means that you can top up your prepaid debit cards at these locations. Just imagine for a second what a luxury it would be to have a top-up location anywhere you go or in every other corner of the world. There’s even more good news. The company that has offered such great services is bringing their operational strategy into a complete line of debit cards.
Main Green Dot Prepaid MasterCard Features
The GreenDot Prepaid MasterCard is a prepaid card, which is jam packed with a number of great features that is surely going to make you seriously think about forgoing all of your other debit cards. There is no activation fee. Moreover, activation can be done just over the Internet without any credit check. This means that anyone can be eligible for this card, regardless of his credit history. All prepaid debit cards have this feature because there is no default risk for the service provider. Credit cards have a very extensive application process because risks are very high. Credit card providers are lending out their money, though in return they can earn a profit through interest. Hence, for debit cards, the service providers are not lending the cardholder money to spend, such as the case with credit cards, but rather allowing the cardholders to use the money which they have previously deposited into their accounts.
Green Dot Prepaid MasterCard Review – ATM Access
With the GreenDot MasterCard, you will be able to access over 18,000 Money Pass ATMs all across the country free of charge. Not many debit cards offer free ATM services, which is why GreenDot is so popular. The ATM service is one of the most important requirements for debit cardholders because it is the easiest and sometimes the only way to get their hands on cash. Therefore, if this service requires a usage fee, this can accumulate into a large sum over time. However, with the GreenDot debit card, you can use the ATM to withdraw money or check your account balance as many times as you want.
Free Money When Getting The GreenDot MasterCard – MoneyPak
Another great feature of this debit card is that card holders will get about $5 of credit loaded automatically onto their card when they use MoneyPak for the first time. MoneyPak is a service, which is also operated by GreenDot, that offers to reload the cardholders’ debit card with cash. In addition to this, cardholders will also get an additional $10 when they qualify for the direct deposit service. Most of you already know that direct deposit is the service that allows a direct electronic transfer of money into your account by either yourself or someone else. This service is also completely free with the GreenDot Prepaid MasterCard.
GreenDot Debit MasterCard Waives Prepaid Fees For Your Purchases
Overseas Using The GreenDot Debit Card
For overseas purchases, the market rate will apply, though the transaction fees are usually a small percentage that is predetermined by the bank or service provider. Overseas purchases include things that you buy from foreign countries over the Internet while residing in the United States. This can be seen as a benefit, as being able to use your debit card to make online or overseas purchases eliminates the need for a credit card. Most people who have credit cards hate them because it always leads to unwanted spending, which is why people are now trying to make the switch to prepaid debit cards that offer more or less the exact same services, but have a lot more benefits.
For example, with prepaid debit cards, you are only going to spend the money that you have. On the other hand, with credit cards, you usually try your best to reach the maximum limit so that you can accumulate your reward points without paying much attention to the real problem at hand, which is to settle your credit bills as soon as possible. This is also where the debit card has an additional advantage in which there are no interest payments, which can accumulate over time.
Green Dot Prepaid MasterCard Review – Summary
For the GreenDot prepaid debit card, there are no overdraft costs or penalties, which many people experience near the end of the month. Hence, having this card can provide a little more comfort to the cardholder because they can now spend a little more freely without having to pay so much attention to all the penalties that they might have had to pay. The card limit is only $2500, which many people consider too low, especially when the card is custom made to be an everyday debit card. Nonetheless, the benefits starkly overweigh the negatives, which is why GreenDot can be seriously considered as a personal debit card to have.
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