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Tuesday, January 13, 2009

Green Dot Prepaid Card - Review

By Dan Moskel

The Green Dot Visa is a prepaid debit card. Often this is used by individuals that do not have a bank account.

Card holders receive free direct deposit; this can save you money on expensive check cashing fees. It is accepted at millions of locations world wide.

There is no credit check or bank account required for approval. There is a $4.95 monthly fee but this fee is waived if you deposit $750 or more monthly.

It is accepted over the phone and online. Your cash can be accessed at 900,000 ATM locations in 120 different countries.

It does have a reload fee of $4.95 when you use MoneyPak. Common criticisms are; the amount of fees and poor customer service.

These are purchased at retail locations such as; CVS, Walgreens, The Pantry, and more. You will also have to pay a $2.50 ATM fee and a $9.95 activation fee.

The Columbus Bank and Trust Company issues the card and it comes as a Visa or MasterCard.

They do offer an upgrade to your account for Premier Membership at a cost of $20. This will give you priority customer service.

You can purchase this card at retail locations or you can fill out an application online and have a card sent to you within 7-10 business days.

It is commonly used by parents to teach children financial responsibility. Additionally it is a convenient method of providing financial assistance to students that are away at school.

Your money will be protected if your card is ever lost or stolen. It is a much safer alternative than carrying cash.

It can be used to pay bills and keep track of your spending. It is also an effective way of staying within a budget.

In sum we do not suggest this card, We are alarmed that there are additional fees for priority service. We feel that when it comes to your money you are entitled to priority service.

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