As of 2015, GreenDot no longer uses the MoneyPak system for adding funds to its prepaid cards. The company sells prepaid debit cards in participating retail stores for $4.95 or less, according to Green Dot. Free cards are also available by request at the Green Dot website.Continue Reading
Green Dot prepaid debit cards are valid for ATM withdrawals, and online retailers accept them for everyday purchases, according to the company website. In addition, ATM transactions are free at any MoneyPass machines. Since the company doesn���t charge overdraft fees or require credit approval, its prepaid cards are useful for people who value the convenience of electronic payment methods but need an alternative to bank-issued debit cards and credit cards. Registering for an account also gives cardholders the flexibility of using online bill-payment services.
Cardholders can set up direct deposit for a fast, recurrent funding method or ask cashiers to reload the cards at participating stores, as Green Dot explains. Paychecks, Social Security and veterans��� benefits are valid sources for direct deposit funding. The service also allows ACH transfers from bank accounts and transfers between cardholder accounts. Generally, account balances are capped at $2,500, but the company may approve larger balances for customers with direct deposit. When reloading cards in stores, customers can only add up to $500 at once.Learn more about Credit & Lending