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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Corporate Overview
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Recent News Items
  • Tax Refund Cards: US Treasury Gets Involved

    Tax refund cards were very popular during the 2010 tax season. Companies such as H&R Block, Green Dot (NYSE: GDOT) and others enjoyed a substantial lift in prepaid cards issued during the tax refund period, as underbanked taxpayers used prepaid debit cards to receive direct deposit of their tax refunds. This week, the U.S. Treasury announced a pilot program for 2011 in which the Treasury will encourage use of these tax refund cards.

  • 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 […]

  • 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.

  • 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 IPO Set For This Week

    Green Dot Corp. is set to launch their IPO this week, with shares expected to trade starting Thursday on the NYSE under the ticker symbol NYSE:GDOT. A number of publications have covered the planned IPO, and we’ve collected links to a few of the more interesting articles for your convenience.

Filed under: Prepaid Companies
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