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PoderCard review

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PoderCard
4.0
★★★★★
Finder score
Fee
$0 per month
Minimum deposit to open
$0

Our verdict

A free bank account designed for US Hispanic immigrants.

PoderCard is closing the banking gap by providing a free digital account to underserved populations and the unbanked. It has early direct deposits and no monthly fees or minimum deposit requirements, but you can’t open a joint account with a friend or family member.

And you’ll pay fees if you use an out-of-network ATM, need a new debit card or deposit cash at a retail location.

Pros

  • FDIC insured
  • ASAP direct deposit
  • Financial wellness library

Cons

  • No joint accounts
  • ATM restrictions
  • Miscellaneous fees
  • New account

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How do I open a PoderCard account?

Follow these steps to open a PoderCard account online:

  1. Go to the provider’s site and follow the steps to apply.
  2. Download the official PoderCard app from the Apple Store or Google Play Store.
  3. Open the app, select whether you wish to view it in Spanish or English and click Next.
  4. Create your username and password and click Setup App Login.
  5. Create and confirm your four-digit mobile unlock code.
  6. Enter your phone number and click Next.
  7. Enter the code that was sent to your phone and click Confirm Mobile Number.
  8. Type in your Social Security number, ITIN or Matricula Consular photo ID.
  9. Follow the prompts to verify your identity and request your debit card.

Eligibility

Anyone who meets these requirements can open a PoderCard account:

  • At least 18 years old
  • Valid Social Security number, Individual Taxpayer Identification Number (ITIN) or Matricula Consular photo ID

Required information

  • Full name
  • Address
  • Date of birth
  • Phone number
  • Social Security number, ITIN or Matricula Consular photo ID
  • Driver’s license or other identifying documents

When will I receive my PoderCard?

Once your account is set up, you’ll receive your PoderCard debit card in the mail within seven business days.

4 benefits of the PoderCard

The PoderCard is built in partnership with Green Dot. It’s FDIC-insured, comes with mobile banking and online bill pay and has these features:

  1. Minimal fees. You won’t pay for monthly maintenance fees, minimum balance fees or overdrafts with PoderCard.
  2. ASAP direct deposit. Get direct deposit paychecks and government benefits up to two days earlier than you would with a standard bank account.
  3. Large ATM network. Withdraw cash for free at over 46,000 AllPoint ATMs nationwide.
  4. Financial wellness library. Stay in control of your finances with a free library of personal finance resources.

4 things to look out for

While the PoderCard account has its benefits, it has potential drawbacks:

  1. No joint accounts. PoderCard only offers individual accounts.
  2. ATM restrictions. You can’t withdraw more than $500 daily or $3,000 monthly from ATMs. Plus, you’ll pay a $3 fee if you use an out-of-network ATM.
  3. Miscellaneous fees. Expect to pay $5 for replacement debit cards, 3% for foreign transactions and $2.50 if you withdraw cash with a bank teller.
  4. New account. PoderCard is new and doesn’t have any other accounts, so it may not be a good option for those who want to keep their banking under one roof.

If you were hoping to open a checking and savings account at the same bank, you’ll want to keep looking. As always compare your online bank options.

Compare PoderCard to other checking accounts

Use this table to compare similar accounts based on their interest rates, minimum opening deposits and ATMs networks.

Name Product Fee Minimum deposit to open Annual Percentage Yield (APY) Offer
SoFi Checking and Savings
Finder Score: 4.5 / 5: ★★★★★
Bonus
SoFi Checking and Savings
$0 per month
$0
4.60% on balances of $0+
0.50% on balances of $0+
1.20% on balances of $0+
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until June 30, 2024.
Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
Upgrade Rewards Checking Plus
Finder Score: 4.3 / 5: ★★★★★
Upgrade Rewards Checking Plus
$0 per month
$0
N/A
Earn up to 2% cashback rewards on everyday purchases. Pay $0 fees for overdraft, domestic wire transfer and monthly maintenance. Member FDIC.
Cash Card by Cash App
Finder Score: 4.4 / 5: ★★★★★
Cash Card by Cash App
$0 per month
$0
N/A
The Cash App Cash Card lets you pay for goods and services both online and in stores using your Cash App balance. Enjoy features like ATM access, direct deposit, instant discounts at select stores and a customizable card.
Axos Bank Rewards Checking
Finder Score: 4.2 / 5: ★★★★★
Bonus
Axos Bank Rewards Checking
$0 per month
$0
3.30% on balances of $0 to $50,000
Use promo code AXOS300 and apply by June 30th, 2024, to earn up to $300 bonus, $50 each month you meet requirements: Make direct deposits of $5,000+ each month for the first 7 months and maintain an average balance of $7,000.
Earn up to 3.3% APY after meeting rate requirements. Get ATM free reimbursements at all domestic ATMs. Pay $0 monthly or overdraft fees. FDIC insured.
Chime® Checking Account
Finder Score: 4.8 / 5: ★★★★★
Chime® Checking Account
$0 per month
$0
N/A
Save easily and access your paycheck up to 2 days early with direct deposit. Pay $0 monthly fees, and no minimum balance is required. Access 24/7 support and get daily balance and transaction alerts. FDIC insured.
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How do I deposit or withdraw my money?

PoderCard gives you several ways to deposit and withdraw money from your account:

Deposits

  • Direct deposit
  • Transfer from another bank
  • Cash deposits at a Green Dot location

Withdrawals

  • At an ATM
  • Cash back at a retailer
  • Transfer to another bank

PoderCard reviews and complaints

PoderCard doesn’t have any reviews on Trustpilot or the Better Business Bureau’s website, but it does have reviews on the Apple App Store and the Google Play Store. On the App Store, it has an astounding rating of 4.9 out of 5 based on more than 13,000 ratings. On the Google Play Store, it has a rating of 4.4 out of 5 based on more than 2,000 reviews.

Reviewers on both platforms praise the PoderCard for its features and lack of fees. But there are also numerous complaints by would-be customers who encountered technical problems when signing up for an account.

How to contact PoderCard customer service

You can contact a PoderCard support specialist via these methods.

  • Call 1-833-337-6337.
  • Send a note to a specialist via the app or website, and you can expect a response within 24 to 48 hours.

Frequently asked questions

Checking account ratings

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★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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