Green Dot Bank is a fintech company, and like all online banks it faces a challenge when customers want to deposit their funds.
To set up Direct Deposit with Green Dot Bank, GO2Bank, GoBank, and Bonneville Bank, you should use ‘Green Dot Bank’ as a bank name. Green Dot Bank, Member FDIC, a single bank that operates under the GO2Bank, GoBank, and Bonneville Bank trade names.
There are three ways of setting up Direct Deposit with Green Dot Bank:
- Through a form
- Your employer
- The app
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1. How to Use a Form to Set up Direct Deposit for Green Dot Bank
Using a form to set up direct deposit with Green Dot Bank is simple. You can either print the form from their website. You can also request the form on the app, through an email.
Yet another way to request the direct deposit form from Green Dot Bank is by texting their specialized mobile line. After opening your account and linking all of your information, you can text DDINFO to 37267 and receive all of your account information on your phone.
To complete the form, you’ll need some information ready:
- Your name as it appears on your account
- Your account number
- The bank’s routing number (if it doesn’t already appear)
- The portion of the check you want to deposit
- You can deposit the entirety of the check into your account or you can deposit a percentage/specific dollar amount
- Your signature to authorize the direct deposit
- The date
You can also log into the Green Dot Bank mobile app to check for your account and routing information.
2. How to Set up Direct Deposit with Green Dot Bank and Your Employer
To set up direct deposit information with your employer, your employer will generally need all the information seen above: your name, account number, etc. Your employer will also need to ensure that the social security number they have on file for you is the same you gave to Green Dot Bank. If the social security numbers don’t match, you may face problems on payday.
Some businesses have their own direct deposit forms. Fill these out with the information requested by your employer and they should be able to automatically deposit your pay checks into your Green Dot Bank checking or savings account.
Your employer’s Human Resources department may also have an online portal you can use to enter your information. Ask your boss, and if they do have an online portal you can head to the website with your account and routing information ready.
3. How to Set up Direct Deposit through Green Dot Bank’s Mobile App
You can set up direct deposit on Green Dot Bank’s mobile app in a couple of easy steps:
- Log into the app using the same login and password you use to check your balances
- Click the “Deposit” tab at the bottom of the app
- Click “Set Up Early Direct Deposit”
- Click Email My Employer
- You can also click “Email Me” to send your direct deposit information to your own email.
- Enter your employer’s name and email address
- Decide on how much you want to deposit
- You can either deposit your whole check, a percentage of your check, or a specified dollar amount.
- Confirm your employer’s information as well as the dollar amount you wish to deposit and click “Send It”
Your employer should then receive an email from Green Dot Bank that gives them the information they need to begin enrolling you in direct deposit.
How Long Does It Take Green Dot Bank To Process a Deposit?
Green Dot Bank can process your direct deposits quickly, depending on a couple of factors. Many times, your employer or benefits provider will notify Green Dot Bank of your upcoming deposits days in advance. If they do, Green Dot Bank is able to deposit those funds right into your account when they get the notice, up to four days earlier.
For government benefits, Green Dot Bank can process your direct deposit up to four days early.
For paychecks from an employer, Green Dot Bank can process your direct deposit up to two days early.
Green Dot Bank maintains that they will always do their best on their end to deposit your funds into your account as quickly as they can, but your employer or benefits provider may slow down the process as well. As such, their Early Direct Deposit program states that deposit times may vary from paycheck to paycheck.
Why Haven’t I Received My Deposit or my Benefits with Green Dot Bank?
There are a couple of reasons why you haven’t received your paycheck or benefits in your Green Dot Bank account. If your name and social security number aren’t identical between Green Dot Bank and whoever is depositing into your account, the funds may be returned.
Green Dot Bank may not have received the payment information from your employer or your benefits provider. Many times they are able to provide direct deposits early because the payment information is provided early as well.
If you haven’t received your regularly scheduled paycheck through direct deposit with Green Dot Bank, they recommend contacting your employer to confirm the deposit was made. If it was, ask for the TRACE number. Once you have the TRACE number, contact Green Dot Bank’s customer support number at (866) 795-7597. The toll free hotline will investigate your missing deposit for you.
If you are missing benefits, contact the benefit provider directly.
About Green Dot Bank
Green Dot Bank is a financial technology company and online bank located in Austin, Texas. By market capitalization, it is the largest prepaid debit card platform in the world, with prepaid Visa and Mastercards available at over 100,000 stores. Its payment services are used by Apple Pay, Uber, and Intuit.
The bank focuses on those it refers to as the “underbanked”, or people who may not be able to open an account with a traditional brick and mortar bank. They are looking to serve these communities by offering them a safe place to store their money and advantageous savings rates. Green Dot Bank is also looking to give these underbanked members of society access to loans and credit cards.
Green Dot corporation started in 1999 as a means of giving teenagers prepaid cards to shop online. In 2013, the corporation acquired Loopt’s workforce and technology and decided to create GoBank — the first bank meant to be opened and used all from a phone.
What Are the Perks of Using Green Dot Bank’s Direct Deposit?
Green Dot Bank offers Early Direct Deposit. Depending on fraud prevention and their ability to get the payment information from your employer or benefits provider, Green Dot Bank is able to directly deposit your funds several days in advance.
You can also gain access to Overdraft Protection of up to $200, meaning that if you overdraft your account by $200 or less, Green Dot Bank will give you 24 hours to bring your account back to $0 before incurring a fee.
The bank will also notify you through the app or text message alerts whenever you get a direct deposit, letting you know exactly when your money is ready.
Finally, enrolling in Early Direct Deposit and signing up for all of these perks is completely free! There are no fees involved whatsoever.
Conclusion
Green Dot Bank allows its customers to enroll in direct deposit — called Early Direct Deposit — in three ways: through their form, their customer’s employer, or the app. Each way is eligible for Early Direct Deposit, where Green Dot Bank can deposit your funds up to four days in advance from the government and two from your employer.
