How Do You Transfer Money From a Bank Account to a Green Dot Card?
Money is transferred from a bank account to a Green Dot card through automated clearing house transfer, explains the Green Dot Corporation. Funds can also be added by ACH transfer from credit unions and other financial institutions. Green Dot has a daily load limit of $2,500. Banks may also impose a limit.
To execute an ACH transfer to a Green Dot card from a bank account, Green Dot customers log in to their bank's website and follow the ACH transfer instructions, notes the Green Dot Corporation. The setup process varies by bank. To complete setup, customers need their Green Dot account numbers and American Bankers Association routing numbers, and must indicate if the ACH transfer is taken from a checking or savings account. ACH transfers can only be used to load money onto a Green Dot card. They cannot be used to pay bills or withdraw cash from a Green Dot card. ACH transfers typically process in one to three days.
Green Dot does not charge a fee for ACH transfers; however, some banks charge a fee, according to the Green Dot Corporation. Not all banks offer ACH transfer. Other options for loading a Green Dot card include the direct deposit of paychecks and government-benefit checks; reloading at the register of participating retailers; and reloading through the cash purchase of a Green Dot MoneyPak from a participating retailer.