Green Dot Corporation

Green Dot Corporation

History of Green Dot Corporation

Formerly Next Estate Communications, Green Dot Corp. was started in 1999 by a gentleman known as Steve Streit. The company started out with a debit card that was marketed to internet jockeys and teens. The first prepaid card was called I-GEN and was sold initially in Rite-Aid retail stores and inevitably grew to include CVS Pharmacies and Pantry Convenience Stores by 2002. Adults became the primary marketing target by the next year and was carried in over 18 thousand stores across the U.S. By 2004, the I-GEN debit card was reinvented into the Green Dot card and started accepting cash loads through an innovative network. The product line expanded over time and in 2006, over 2 million cards had been sold in the U.S. Green Dot went public in 2010 capitalizing itself with nearly $130 million. Green Dot is now the undisputed cash reloading network in the United States offering not only Green Dot branded prepaid debit cards, but also the Green Dot MoneyPak which serves as a cash reloading vehicle for a multitude of additional prepaid card brands in the market.

Green Dot Product Highlights

In addition to the renowned Green Dot Network reloading and servicing platform, the company has enhanced their all-encompassing distribution channel for not only MoneyPak, but Green Dot branded Visa and MasterCard prepaid debit cards. Thousands of merchant retailers proudly display the Green Dot brand conspicuously in their stores across the country. In addition to their generic Visa and MasterCard prepaid cards, Green Dot offers variant versions as well. These include a prepaid student card, an online shopping card, an express bill payment card, a NASCAR prepaid card and the Visa Prepagada card targeted to the Hispanic market.

Notable Points About Green Dot

MoneyPak dominates the cash loading market by partnering with dozens of different prepaid brands thus allowing many prepaid cardholders to load funds using their reload network. Their are other entities providing reload services, but none with the overwhelming retail presence of Green Dot. Fees for the Green Dot prepaid debit products are not the lowest available, but are definitely competitive. If Green Dot cardholders use a participating in-network ATM to make a cash withdrawal, then the transaction is FREE, otherwise a minimum $2.50 charge will occur (Teller cash advances are also $2.50 per transaction). Monthly maintenance fees can be waived on the GreenDot prepaid cards with a minimum of $1000 loaded or 30 purchase transactions. Green Dot prepaid cards typically come with a balance limit of $10,000 and daily cash withdrawal limit of $400. The Green Dot website is very helpful to customers wanting to purchase a card online, finding a participating merchant store or locating an in-network ATM.

About Green Dot Corporation
Stock Symbol: NYSE:GDOT
Corporate Headquarters: Monrovia, California (USA)
Address: Green Dot Corporation
605 East Huntington Drive, Suite 205
Monrovia, CA 91016
(626) 739-3942

Green Dot Corporation Debit Cards

Green Dot Prepaid MasterCard Green Dot Prepaid MasterCard

GreenDot knows prepaid cards. Did you know that Green Dot runs one of the biggest networks of prepaid reload locations? They make it easy for you to put cash onto your card. Read More

Walmart MoneyCard Visa Prepaid Card Walmart MoneyCard Visa Prepaid Card

Walmart doesn’t just offer low prices on TVs, clothing or groceries. They also provide a great set of financial services products. One of their products is the Wal-Mart MoneyCard. The Walmart MoneyCard is a prepaid Visa debit card that combines the power of Walmart’s ubiquitous retail distribution network with the convenience of a prepaid debit card. The combination makes it easy to load funds onto the card (you can load funds with cash or a payroll or benefits check at any Walmart cashier location). There are a number of other benefits as well. Read More

GreenDot Gold Prepaid Visa Card Green Dot Gold Prepaid Visa Card

If anyone knows the prepaid card business, it’s Green Dot! As one of the largest prepaid debit card reload networks, Green Dot makes it a cinch to load cash on your card. Read More

Walmart Money Card MasterCard Walmart MoneyCard MasterCard Prepaid Card

Retail giant Walmart wants to further add value to its customers by offering the prepaid Walmart MoneyCard Mastercard. You can actually get the MoneyCard in either Visa or MasterCard depending on your preference. There are also four designs to choose from – grey, black, blue or gold all displaying the Walmart logo and insignia. You can load money on the prepaid MoneyCard in a variety of ways including a visit to a Walmart store (cash or check) cashier or MoneyCenter Express machine, direct deposit of a pay or benefits check, online bank transfer or by purchasing a MoneyPak or Cash Reload card.
Read More

Corporate Overview
Recent News Items
  • Green Dot Scores Big Win with Tax Refund Card

    Yesterday, the U.S. Treasury announced a pilot program in which certain low- and moderate-income Americans will be provided with an ability to use a prepaid debit card to receive the proceeds of their federal tax refund. In the pilot program the Treasury Department will mail letters to 600,000 low- and moderate-income individuals nationwide. The letters will invite these taxpayers to consider activating a MyAccountCard Visa® Prepaid Debit Card in time to have their 2010 federal tax refund direct deposited to the card. The MyAccountCard is provided by Green Dot Corp. (NYSE: GDOT). Here’s why its a big deal.

  • Comparing Trajectories: NetSpend Growth vs Green Dot Growth

    The two publicly traded heavyweights in the prepaid debit card industry reported first quarter 2011 earnings over the last week, with Green Dot (NYSE: GDOT) reporting on April 28, 2011 and NetSpend (NASDAQ:NTSP) reporting on May 5, 2011. Both companies showed increasing revenues and net income. But how do they compare on some of the key metrics which suggest how their prepaid card issuance is trending?

  • RushCard Adds 50,000 More Load Locations

    UniRush, LLC, the company behind the RushCard line of prepaid debit cards, today announced that they have joined the Green Dot reload network. The move adds 50,000 more load locations for RushCard prepaid debit card holders.

  • Green Dot Earnings Call: A Prepaid Card Tutorial

    On August 12, 2010, Green Dot Corporation (NYSE:GDOT) had its first earnings conference call. The conference call, of course, included lots of discussion about Green Dot’s second quarter 2010 earnings and outlook. The call also included some excellent information about the prepaid debit card industry. Analysts, investors and others who are interested in covering or better understanding this relatively new industry should listen to the Green Dot Q2 earnings call.

  • Club America Soccer Fans: Show Your Support with Prepaid Debit Card

    Club America and Denarii Systems recently introduced the Prepaid MasterCard for its five million fans in the U.S. Market that are united by a passion for soccer. The new launch enables soccer fans to make purchases, pay bills and remit money easily and securely while staying connected to their favorite team.

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