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3 Reasons Why Green Dot Prepaid Debit Card Is Common In USA | green dot prepaid debit card

Recently, news reports have been published indicating that more than two million debit card users had their account details stolen during the span of a six-month period. Criminals often use Green Dot prepaid credit cards as the most delivery vehicle for stolen tax rebate monies obtained via fraudulent tax return forms. Reports suggest that many identity theft sufferers have had the same unlikely experience with Green Dot s unpaid bank card: once a week, the offending thief receives an unpaid debit card from… you guessed it… Green Dot! The card has no bank account and is used only for purchases. The criminal then charges the victim's bank for purchases they did not make.

The perpetrator then uses the money that was taken to pay for gifts, rent vehicles, internet service and utilities. The cycle continues until the victim is unable to pay for basic necessities such as food, gasoline, clothing, etc. The Federal Trade Commission (FTC) has warned that victims may be held liable for charges made using their Green Dot prepaid credit card. In some states, the prepaid debit card user is liable for charges made using their card even if they could not have controlled access to funds.

Many people think that Green Dot prepaid credit cards and bank-issued debit cards are very similar. They do share some attributes however, such as the ability to make online purchases or cash withdrawals. They also have some important differences, such as the lack of a bank account. While this may sound like a negative, it actually provides the customer with many advantages. Here are some benefits of owning a green dot prepaid debit card.

There is no credit check or income verification required when using a green dot prepaid debit card. This can offer many benefits for both the consumer and business. For the consumer, this can offer the opportunity to build their credit history by making purchases using a card that has no annual fee and no service fees. For the business, the lack of a credit check means there is no need to implement other protection measures such as fraud detection software or a merchant account. For those who cannot obtain credit, they still have the ability to process transactions and set up their budgets without worrying about non-payments from customers.

Another benefit of Green Dot prepaid cards is that they are not considered a deposit form for banks. Many banks require a second deposit, which is an additional fee for services not rendered. If the business is a sole proprietor, they do not have to worry about a bank deposit requirement which can keep them from offering their products and services to their consumers. For those who are interested in establishing a business but do not have a lot of personal funds available, these green dot prepaid debit card offers can be an attractive option.

One service that the green dot prepaid debit card is lacking is teller cash withdrawals. If you are worried that you will not be able to make purchases on time because you are short on cash, then this type of card is not for you. Withdrawal limits are usually for small amounts of money and often you will have to wait a few days for your funds to appear in your account. When you are close to an important purchase or you know that your bank account is about to be overdrawn, then you should avoid setting up a card and wait until you have enough funds in order to process your purchase.

In addition to not having the benefits of credit checks and have no need for an ATM fee, the one main benefit of Green Dot prepaid cards is that you never have to enter a PIN. There is no chance that you will give someone your PIN when using the internet or using another form of plastic. In addition, you never have to worry about spending money that you do not have. You can simply reload your account whenever you want, leaving yourself free from any financial responsibility.

The process of applying online has been streamlined to help you quickly receive your new Green Dot prepaid card. You can either apply online by filling out the forms at the secure website, or you can call to apply. If you choose the latter option, then please note that you will not be able to apply through the normal application process. Once you enter your information, you will be asked to submit a request for processing. If you are approved, then it will usually take between two and four weeks for your funds to be deposited into your account. Once they are in, then you can use your prepaid debit card just like any other credit card to make purchases.

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