Gobank Your Mobile Deposit for Didnt Go Through Please Try Again

NEWS HIGHLIGHTS:

• Available today in a limited launch, GoBank is a modern, feature-rich depository financial institution account with deposits insured by the FDIC.
• Taking a fair approach to pricing, GoBank has no overdraft fees, no penalization fees, no minimum balance requirements, and no required monthly fees.
• According to the "State of the Banking concern" survey¹ released today, conducted by Harris Interactive, Americans are ready for a new way to depository financial institution, with a majority saying they don't believe their depository financial institution is transparent (87%) or on their side (68%), and with 65% of people saying they are open to an innovative, mobile-centric bank.
• Live webcast introducing GoBank started at x:30am PT / ane:30pm ET on January 15 at http://news.gobank.com.

SAN FRANCISCO--(Business organisation WIRE)--Jan. xv, 2013--

Green Dot Corporation (NYSE: GDOT) today introduced GoBank, the starting time bank account designed from scratch to be opened and used on a mobile device. Launching in limited release, with full general availability to come later this year, GoBank is fast, fair and feature-rich, assuasive consumers to interact with their money in a mode that'south immediate, intuitive and intimate. In addition to GoBank's consumer-friendly pricing model of no overdraft fees or penalty fees and no minimum balance requirements, GoBank makes it easy to send and deposit money, build a budget and find an ATM, with a massive network of more than 40,000 fee-free ATMs, more than twice the size of Chase or Banking company of America ².

As a make of Greenish Dot Banking company, Member FDIC, all GoBank deposits are FDIC-insured. Each GoBank account includes a checking business relationship with a linked Visa debit carte and a second integrated bank account called the "Money Vault" that's designed to be an piece of cake style for GoBank members to put money away for savings. Accounts are demand eolith accounts (DDA) with deposits insured by the FDIC and full "Regulation E" consumer protections.

"Until at present, banking is one of the few industries in the earth that hasn't yet been reinvented by Silicon Valley," said Steve Streit, founder and CEO of Green Dot. "About people today, and especially people under xl, aren't satisfied with their current banking options. Many traditional bank accounts have long and complex fee schedules with terms and conditions that favor the bank; non the customer. GoBank is fabricated to please the client beginning and foremost. GoBank is designed from the ground up to exist the bank account for the smartphone generation. Once you start using GoBank, controlling your money becomes equally intimate and addictive as checking Facebook or texting friends."

GoBank features include:

• Debit Card Customization: Members can personalize GoBank by customizing the entire front of their Visa® debit carte du jour with their favorite photo. They can cull the picture from Facebook, their phone or computer.
• Should You Purchase It? Enquire the Fortune Teller: "Remember that time y'all won the lottery? I don't either." This is a response a fellow member might meet from GoBank's Fortune Teller if they try to spend beyond their upkeep. Fortune Teller cross-checks the cost of an particular with the member's integrated GoBank budget, and if they can't afford it they'll be advised in real-fourth dimension to pass on the purchase. The budget tool is fun for members to use, with tons of responses that aim to entertain as well as inform.
• Huge Fee-Free ATM Network: Members can withdraw cash from more than xl,000 fee-gratis ATM locations in the U.S. Equally a market comparison, Hunt and Depository financial institution of America each have less than twenty,000 fee-free ATMs.²
• Peek at Your Balance Without Logging In: The #1 reason a person logs into their bank business relationship is to bank check their balance. GoBank allows members to use "Slide for Balance" on the app's login screen to have at peek at their available balance without logging in (members opt into this feature).
• Send Money: Members can instantly send money to friends and family at no accuse through email, text message or even a private Facebook notification. Recipients don't accept to be GoBank members to receive the money.
• Quick Account Set-Up: Compared to typically long processes associated with opening a traditional depository financial institution account, setting upwardly a GoBank account tin have just minutes. This includes the time it takes to create an optional custom Visa debit carte du jour with a member'south own photo.
• Multiple Deposit Options: GoBank has a variety of ways to deposit coin into the account. Members tin deposit checks by snapping a photo through the app, and they can use a debit card to transfer some money from another bank account. Directly deposit is bachelor for paychecks, federal benefits or tax returns. Lastly, members can deposit greenbacks at select Dark-green Dot retail partner locations nationwide - all for free.
• Mobile Checkbook and Pecker Pay: Members can pay whatever company or any person online or on their phone, and GoBank will postal service a paper cheque to any recipient that doesn't have e-payments.
• Money Vault: The Coin Vault is an integrated bank business relationship, with deposits insured by the FDIC, where members can easily put money away for savings. In real time, members can move coin from their checking account available residual into the Coin Vault for safe keeping. When they desire to spend that money, the member can motion it dorsum in two taps and it updates their available balance in real time. The Money Vault is gratuitous to use and members can move money dorsum and forth as often as they wish.
• Robust Business relationship Alerts: Members can fine-tune a broad range of notifications about their money to fit their needs – with alerts well-nigh specific transactions, likewise every bit overall account updates.

"It's not every day that you lot get the opportunity to bring a Silicon Valley arroyo to building a bank account," said Sam Altman, executive vice president of Mobile for Green Dot. "Our GoBank production and technology team is populated by digital natives who grew up with the Internet and mobile phones being key to our daily lives. So, our goal was to reinvent personal banking and create a banking concern account that understands how people in our generation live, work and play and how nosotros think almost money. We love using GoBank and we promise that our members will dear it also."

Land of the Bank – Survey Conducted by Harris Interactive

Illustrating the need for GoBank's unique arroyo, a survey conducted by Harris Interactive called "The State of the Bank" was released today by GoBank. The survey depicts an America that's very open to a new manner to banking concern. The survey found that almost 2/3 of Americans (64%) say they don't fully trust big banks. The majority of Americans don't feel their banking concern is transparent (87%) or on their side (68%). In the past x years, Americans run into Banking as being one of the least innovative industries – only airlines and pet care were seen every bit less innovative. And, only 11% of Americans say their bank ofttimes offers new tools or features that they apply.

The survey shows traditional banking practices are fading, with 67% saying they write fewer newspaper checks, and 14% of eighteen-34 year-olds saying they've never written a paper cheque. Every bit an indicator of Americans' overall willingness to interruption away from traditional cyberbanking, 65% of people (and 81% of 18-34 year olds) indicated they'd be open to using a bank like GoBank (when presented with a clarification consistent with GoBank'south features). The full national survey results can be found here.

Pricing

According to a study³ by the Pew Charitable Trust, the average bank had 38 different fees that a customer could incur when using their checking account. And effectually 90% of all checking accounts had a monthly fee. The median monthly fee in the report was $12 unless the customer carries a sufficient minimum balance, which averaged $2,000.

While GoBank is i of the nearly characteristic-rich banking company accounts on the market, its pricing is designed to exist fair, simple and affordable. As such, GoBank has no overdraft fees and no penalty fees of any kind, ever. Nor does GoBank have any minimum rest requirements. In fact, while the boilerplate checking account may have as many every bit 38 different fees, GoBank has but 4 fees, which are:

one) Out-of-network ATM: GoBank has a very large fee-free ATM network of more than 40,000 locations. However, if the member uses an out-of-network ATM, there is a $2.l charge for withdrawals and a $1 balance inquiry fee.

2) Foreign Transaction: If the fellow member uses their GoBank debit carte du jour to brand a buy at a merchant outside the Usa, there is a 3% foreign transaction surcharge.

3) Custom debit carte du jour (optional): If the member wants to order an optional customized photo GoBank Visa® debit bill of fare, in that location is a charge of $9. Of course, there is no accuse for the standard GoBank debit card.

4) Monthly Membership (optional): GoBank charges no monthly fee. However, members tin can voluntarily pay a monthly membership fee in whatever amount they think is fair, from nothing upward to a maximum of $nine per month. Making the monthly fee voluntary ensures that anyone who wants to apply GoBank tin become a member without being denied admission based on their ability to pay. Assuasive the customer to voluntarily pay what they retrieve is off-white gives the client the ability to "punish" or "reward" GoBank based on how they feel about the product. This provides an emotional do good for the fellow member because it puts them in control of their bank. Based on our product research, we believe that most GoBank members would contribute monthly if they liked the product.

Become One of GoBank's First Members

First today, anyone can request an invitation to join GoBank (visit GoBank.com and click "Bring together Now"). The first invitations for membership will also go out today to those who accept requested to join. The GoBank App is too available every bit a free download from the App Shop for iPhone or iPod touch on, or Google Play for Android. To use the app, you must have an existing GoBank membership.

For a quick video overview of GoBank, check out GoBank'south YouTube channel. For photos and videos from today's launch consequence, visit http://press.gobank.com. Information about GoBank'due south fees tin be found at http://GoBank.com/NoWorries.

About GoBank

GoBank is a brand of Dark-green Dot Bank, Member FDIC. GoBank is the offset bank business relationship designed from scratch to be opened and used on a mobile device. With GoBank, members accept full access and control of their coin from their iPhone, iPod Impact or Android device, and tin withdraw cash from more than 40,000 fee-costless ATMs in the U.S. For more information about GoBank or to request a membership invitation, visit http://gobank.com. You can too visit http://facebook.com/GoBankUS or http://twitter.com/GoBank.

Well-nigh Green Dot

Green Dot Corporation is a publicly traded bank holding company with a mission to reinvent personal banking for the masses. Its products and brands include Green Dot brand reloadable prepaid debit cards, The Greenish Dot Reload Network, the Green Dot MoneyPak and GoBank. The Company's prepaid products and services are available in more than threescore,000 retail stores nationwide and online at Greendot.com. GoBank is available online at GoBank.com and via the Apple App Shop and Google Play with boosted distribution locations to exist announced in 2013. The company is headquartered in Pasadena, Calif. with technology offices in Mountain View, Calif. and Westlake Village, Calif. and its bank subsidiary, Light-green Dot Depository financial institution, located in Provo, Utah.

Harris Interactive Survey Methodology

This survey was conducted online within the United States past Harris Interactive in partnership with Green Dot on December 18-xx, 2012 among 2,080 adults age 18 and older, amidst whom i,519 had total household incomes of less than $100k and have a checking business relationship at a bank or credit union. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can exist calculated. For complete survey methodology, including weighting variables, please contact press@gobank.com.

Forrad-Looking Statements

This press release contains forrard-looking statements, which are subject to the condom harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, amid other things, statements regarding the timeframe within which GoBank is expected to get available generally and any predictions of customer beliefs. Actual results may differ materially from those independent in the forward-looking statements contained in this press release. A wide-variety of potential risks, uncertainties, and other factors could materially bear on Green Dot's ability to achieve the results expressed or implied by Green Dot'south forward-looking statements, and those risks and uncertainties are detailed in Dark-green Dot's earnings releases and other filings with the Securities and Exchange Commission, including its quarterly report on Form x-Q, which is available on Green Dot'due south investor relations website at http://ir.greendot.com and on the SEC website at http://www.sec.gov . All information provided in this release is as of January xv, 2013, and Green Dot assumes no obligation to update this information as a result of time to come events or developments.

¹ Refers to Americans who have a checking account and whose household income is less than $100K.

^two Source: Chase.com and BankofAmerica.com, as of January ix, 2013

³ The Pew Charitable Trust's October 2012 report "Still Risky: An Update on the Prophylactic and Transparency of Checking Accounts from the Safe Checking in the Electronic Age Project

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130115006371/en/

Source: Green Dot Corporation

GoBank
Quinn Daly, Press Relations
press@gobank.com
310-600-8005
or
Light-green Dot
Chris Mammone, Investor Relations
ir@greendot.com
626-765-2427

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Source: https://ir.greendot.com/news-releases/news-release-details/green-dot-launches-gobank-revolutionary-mobile-bank-account/

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