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Apply for a loan of $100 to $10,000 through a network of legit online lenders.
If you need money quickly but don’t want to spend time browsing lenders, consider applying through Green Dot Money. This lending marketplace could include an option that fits your needs — even if you have poor credit.
Read on to learn how Green Dot Money can connect you to a short-term loan with fast funding.
Green Dot Money no longer operating
As of May 2018, it appears that Green Dot Money is no longer operating. Green Dot continues to offer prepaid debit cards and a range of banking services. If you’re interested in a short-term loan, compare this selection of available providers.
Aliyyah Camp is a publisher helping folks compare personal, student, car and business loans. Prior to joining Finder, she ran her own personal finance blog and wrote for numerous finance sites. Aliyyah earned a BA in communication from the University of Pennsylvania. She likes to go to the movies and go for runs outdoors.
How does Green Dot Money work?
Green Dot Money doesn’t provide loans directly. Instead, it’s a loan-connection service that can connect you to lenders willing to offer amounts and terms you specify in its simple online application. After you apply, you choose a loan from among those you’re eligible for and accept a contract on the specific lender’s website.
Payday loans. Payday loans — also called short-term or cash advance loans — are a quick way to get small amounts of money when you need it most. The amount you borrow including accrued interest is typically due in two to four weeks. Because these loans are designed for people with less-than-perfect credit, prepare for high interest rates and multiple fees.
Installment loans. Similar to payday loans, installment loans come with high interest rates and multiple fees. But they can be repaid over months, rather than weeks — which makes them a better choice for larger amounts. Longer repayment terms result in smaller payments, but interest can add up quickly.
How does Green Dot Money compare to other short-term loan brokers?
Updated January 17th, 2020
What are the benefits and drawbacks of Green Dot Money?
No obligation. If you don’t like the terms you’re given, you’re under no obligation to accept a contract.
Borrow how much you want. Whether you need $100 to get by until your next paycheck or $1,000 for emergency expenses, you might find a loan to get over your financial hurdle.
As with most loan-conntection services, it’s free to search for a loan through Green Dot Money. In fact, you won’t pay anything until you sign a loan contract. At that time, you’re responsible for any costs determined by your lender.
Is Green Dot Money safe to use?
Yes. Green Dot Money is legit. It complies with federal regulations when it comes to keeping your information safe. Your files are private and secure on its servers, and your personal details are shared only if it’s necessary to find you a lender.
The Green Dot Money application is quick and simple. You’ll need to provide some basic information at this step and prepare to give up more once you’re connected with a lender. Here’s what you’ll need:
You must live in one of its serviced states. Green Dot Money currently services all states and Washington, DC except: Colorado, Connecticut, Iowa, New York, Vermont, West Virginia.
You must be at least 18 years old (or your state’s age of majority).
You must be a citizen or permanent resident of the US.
You must have a steady source of income.
You must have a bank account or reusable debit card.
Personal details, including your name, date of birth, Social Security number and government-issued ID
Contact details, including your email, phone number and home address
Financial details, including your bank account numbers and your monthly income
If you’re in need of cash and and looking for quick funding, let Green Dot Money do the work of finding a lender for you. You may find a loan that meets your needs and helps you pay for whatever financial emergencies come your way. Consider other short-term loan brokers if you’d to compare your options.
Are payday loans available in my state?
Frequently asked questions
No. Applying through a connection-service doesn’t affect your credit, and Green Dot Money doesn’t report your inquiry to any credit agency. Keep in mind that a lender may choose to do so once you sign a contract.
Yes. One of the benefits of using Green Dot Money’s services is that the loan you receive will likely be from a lender willing to transfer your funds onto a card backed by Green Dot Corporation.
It depends on the individual lender. When reviewing your loan contract, ask about prepayment. Some payday loan lenders charge extra fees for early repayment.
Funds are usually deposited into your bank account by the next business day, but it ultimately depends on your lender and your bank.
Not always. If you have a prepaid card through Green Dot, you’ll likely be able to transfer the funds directly onto your card, no bank account required. Learn more about debit card loans.
It depends. Not all lenders report to the big three credit agencies that handle credit, but some might choose to report late or missing payments. Reporting is at the discretion of the lender, and Green Dot Money has no control over your loan search once you find a suitable lender.
The best solution is to contact your loan provider and inform the representative. The lender might be willing to extend the payment deadline and find ways to help you through difficult financial times.
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