Green Dot Corporation
) - a prepaid financial services company and a member of FDIC
(Federal Deposit Insurance Corporation), recently launched a new
prepaid card, called RushCard Live Reloadable Prepaid Visa Card,
in association with UniRush, LLC.The card will be available for
purchase from the end of the month through a wide network of
partner retailers across their outlet stores in the U.S.
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The RushCard Live is a prepaid Visa card and can be used at all
places where Visa debit cards are accepted. The card can be used
to make retail purchases, pay bills and shop online as well. This
personalized card can also be used to make ATM transactions at
more than 22,000 MoneyPass ATM network without being charged for
RushCard Live provides users with some very attractive features
such as an early payroll direct deposit and pass-through FDIC
insurance coverage. Users can add money to their card through
direct deposit, MoneyPak and through bank transfers as well.
Direct deposit allows users to get their paycheck benefit
payments and tax refund checks directly loaded into the RushCard
Live up to two days in advance, thereby, giving the users a
hassle free experience. MoneyPak is a quick and convenient way to
add cash to RushCard Live and is likely to be made available at
60,000 retail outlets, like Walmart, CVS/pharmacy, Kmart,
With the launch of RushCard Live, Green Dot has made life easier
for under-banked people. Users of this card can also download a
free mobile app and access information about their balances and
transaction history. However, RushCard Live should not be
confused with a credit card as it doesn't offer any credit or
Managements of Green Dot and UniRush LLC believe that this card
will help them expand customer base and overall category sales as
it is more cost-effective and easily available at diversified
retail outlets. However, it remains to be seen whether it can
provide a viable alternative to traditional banking.
Based in CA, Green Dot provides low -cost banking and payment
solutions. Its main objective is to reinvent personal banking for
the masses through a portfolio of financial services available
across a wide array of retail locations nationwide.
Some other stocks worth mentioning in this industry include
). All these stocks carry a Zacks Ranks#2 (Buy). GreenDot also
carries a Zacks Rank#2.