US fintech and bank holding company Green Dot has launched a new mobile bank GO2bank to cater people who live paycheck-to-paycheck.

GO2bank is designed to help money management and access to payments safe, easy, and useful via an easy-to-use mobile app, the company said.

GO2bank features

The digital bank offers an overdraft protection of up to $200.

It provides customers with access to their paycheck up to two days early, or government benefits up to four days early.

The app users get up to 7% cashback rewards at various retail outlets.

GO2bank provides 10x interest on savings, compared to the national average.

Green Dot is also providing a fee-free credit card, without relying on customers’ credit history.

The FDIC-insured bank also provides features like one-click lock or unlock of cards, set up SMS alerts, and more.

GO2bank charges a low or no monthly fees and features easy access to over 90,000 retail distribution locations across the US, to deposit money.

Comment

Green Dot CEO Dan Henry said: “Too many Americans struggle to access their money, are paying too much for financial products, and are negatively impacted by the lack of solutions designed to suit their needs.

“GO2bank is built to be the go-to destination for seamless, affordable, useful banking – combining the security, stability, and experience of an FDIC-insured bank with the innovation and agility of a leading fin-tech.

“With GO2bank, Americans now have access to safe, seamless, affordable banking as well as tools to build a stronger financial foundation, all on a simple, intuitive platform that will grow and evolve with our customers over time.”