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
Website: http://www.greendot.com
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


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Recent News Items
  • Prepaid Card to be Released in February Targeting Older Americans

    Jan 27, 2012 – Yesterday, an alliance offering a new affordable prepaid debit card, the AARP Foundation Prepaid MasterCard, was announced in Monrovia, CA. The partnership between the AARP Foundation and Green Dot Corporation said that they are honing in on assisting those Americans that are approaching retirement age with a flexible, lower cost prepaid […]

  • Big Beneficiary of NetSpend IPO: GreenDot

    The on-again, off-again NetSpend IPO is… on-again. And it looks like one of the big beneficiaries of NetSpend’s IPO will be one of NetSpend’s biggest competitors: GreenDot Corp.

  • Prepaid Cards – The Currency of the Prison System?

    Yet another prison gang has been accused of using prepaid debit cards to manage drug programs outside the prison. Yesterday, the FBI announced that 21 members of the Black Guerilla Family (“BGF”) plead guilty to participating in a racketeering conspiracy. The gang used prepaid debit cards to run parts of their operation.

  • GreenDot Corp.: Behind the Numbers

    GreenDot Corp. (NYSE: GDOT), the first major prepaid debit card company to go public in the U.S., posted strong earnings this week, reporting a third-quarter profit that topped Wall Street estimates. The results were boosted by a rise in card and interchange revenue. GreenDot forecast an 80 percent increase in gross dollar volume for 2010. As the economics behind prepaid debit cards are a relatively new concept to some readers, we take a look behind the numbers to see what drove this growth for GreenDot.

  • Wal-Mart Will Cash in on the GreenDot IPO

    Wal-Mart Stores, Inc. (NYSE: WMT) will cash in nicely if the planned GreenDot Corp. IPO goes well. On June 2, 2010, GreenDot filed an amendment to their S-1/A filing with the SEC. In the amendment, GreenDot provided updated financials (through March 31, 2010) as well as details of a stock grant to WalMart.

Filed under: Prepaid Companies
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