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Friday, January 9, 2009

Green Dot Visa - 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 get free direct deposit, which can save hundreds of dollars a year on check cashing fees. It is accepted world wide.

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

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

There are however some criticisms of this card such as; the number of fees and poor customer service. There is a reload fee of $4.95 when you use MoneyPak.

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.

It is issued as a Visa or MasterCard through the Columbus Bank and Trust Company.

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

Upon completion of your application you will be mailed a card in 7 - 10 business days. You can also purchase this card at many retail locations.

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.

You use it to pay your bills. Additionally it will give you a convenient way to track your spending and stay within a budget.

In sum we do not suggest this card, we are surprised that there are extra fees for priority service. We are under the opinion when it comes to your money you are entitled to priority service.

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