Green Dot Prepaid Card Review

What we like about the Green Dot Prepaid Card

First, this card is really only worth it if you can waive the monthly fee. With at least $500 or more in direct deposits each month, the $5 monthly fee is waived entirely.

And like other debit cards, this card does provide FDIC insurance after you activate the card and complete identity verification.

Speaking of, getting started is also low-friction: anyone 18 or older can open an account, with identity verified through a Social Security number and mobile number rather than a credit check, making it accessible to people who might not qualify for a traditional bank account.

Early direct deposit

Two birds with one stone with this perk. Setting up direct deposit can waive your monthly fee, and the Green Dot Prepaid Card supports early direct deposit.

However, how early your direct deposit arrives can depend. Green Dot doesn’t promise “up to two days” like most banks and credit unions do, with Green Dot saying the delivery speed varies.

Transparent fees

It’s hard to not compare this account to a traditional checking account, but we’ve got to compare it to other prepaid cards. And compared to other prepaid options, the Green Dot prepaid card is reasonably priced to use day-to-day.

Balance inquiries at ATMs cost just 50 cents, and reloading with cash costs a flat $5.95 for deposits up to $500. While it sounds pricey, it actually predictable, since it’s a one-time cost rather than a percentage-based fee that scales based on deposit size.

However, out-of-network ATM withdrawals still cost $3 per transaction on top of whatever the ATM owner charges, so frequent cash withdrawals from the wrong machine can add up quickly for a card otherwise built around low, predictable fees.

What could be better

The main drawback with this card is you can’t apply for it online. If you were to head to Green Dot’s site, and then select “Open an account” while on the Prepaid Visa Debit Card information page, the application that opens is actually for the Unlimited Cash Back Bank Account.

How do I know this? Because I tried it.

Once the application opens, you see what looks look an “ad” for the Unlimited Cash Back Bank Account at the top of the online account application. But looking further down, you can select the deposit account agreement. I did, and it opened the deposit agreement for the Unlimited Cash Back Bank Account.

So while the website makes it look like you can get the Green Dot Prepaid Card online, you must go to retail location to purchase the card.

Overdraft fees

This was a weird one to run into. Most prepaid debit cards don’t charge overdraft fees, but this one does.

Prepaid cards are often pitched as a way to sidestep overdraft fees entirely, but the Green Dot Prepaid Card charges a $15 overdraft fee if the negative balance isn’t resolved within 24 hours.

If you want to avoid cash deposit fees, overdraft fees, monthly fees and so on, then consider a traditional checking account. If you were considering a prepaid card because of a rough banking history, then there are also second-chance bank accounts to compare.

Compare the Green Dot Prepaid Card with other prepaid cards

3 of 3 results

Finder Score	Fee	ATM withdrawal	Features
Promoted 9.6 Excellent Revolut	9.6 Excellent	$0 per month	$0	Starts at $0/month Upgrade to paid Premium or Metal plans for more perks International and travel perks 140+ currencies	Join Revolut and get $20. Make your first virtual or physical Revolut card payment to receive $20 credited to your Revolut account. T&Cs apply.	Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.	Go to siteView details Compare product selection Compare	loading
Walmart MoneyCard		$5.94 per month	$2.50	Earn up to $75 cash back on Walmart purchases each year Earn 2% APY up to $1,000 on your savings Up to 4 family accounts FDIC insured by Green Dot Bank	The Walmart MoneyCard prepaid debit card offers cashback rewards on Walmart purchases, but charges high ATM fees on every transaction.	Go to siteView details Compare product selection Compare	loading
Netspend® Visa® Prepaid Card		$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)	$2	Get paid faster Easy loading Control your finances Card customizations Mobile app Savings account	With Netspend, you get a convenient way to manage your money on a prepaid card that is packed with features.	Go to siteView details Compare product selection Compare	loading

loading

Load More

Showing 3 of 3 results

What is the Finder Score?

The Finder Score applies to 45+ kids' debit card options. It takes into account the card's fees, features, age requirements, ATM access and more — this gives you a simple score out of 10.

To provide a Score, we compare like-for-like debit cards. So if you're comparing the best kids' cards with no monthly fees, you can see how card stacks up against each other by features, opening deposits and other benefits.

Read the full breakdown