U.S. Markets open in 2 hrs 6 mins
  • S&P Futures

    -11.75 (-0.26%)
  • Dow Futures

    -47.00 (-0.14%)
  • Nasdaq Futures

    -43.75 (-0.28%)
  • Russell 2000 Futures

    -5.80 (-0.26%)
  • Crude Oil

    -0.40 (-0.55%)
  • Gold

    +4.60 (+0.26%)
  • Silver

    +0.14 (+0.61%)

    +0.0010 (+0.0825%)
  • 10-Yr Bond

    0.0000 (0.00%)
  • Vix

    +1.12 (+6.16%)

    -0.0004 (-0.0290%)

    +0.2630 (+0.2397%)

    -335.52 (-0.70%)
  • CMC Crypto 200

    -23.30 (-1.89%)
  • FTSE 100

    -8.53 (-0.12%)
  • Nikkei 225

    +176.71 (+0.58%)

Green Dot Corporation (GDOT) Announces Launch of Mobile Bank

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Green Dot Corporation GDOT announced the roll-out of its mobile bank yesterday, targeting mainly unbanked or under-banked Americans.

All-in-One Mobile App

Known as GO2bank, the FDIC-insured mobile application-based bank features low or no monthly fees, $200 overdraft protection, early access to paychecks, access to more than 90,000 retail distribution locations, up to 7% cash-back rewards, higher interest rates on savings accounts and access to credit.

"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," said Dan Henry, CEO of Green Dot.

Notably, Green Dot is one of the largest pre-paid debit card providers. It has banking as a service (BaaS) partnerships with big names like Apple AAPL, Amazon AMZN, Walmart WMT, Intuit and Uber, among others.

Stock Rockets Following the Announcement

Green Dot shares were up 7.5% in yesterday’s trading session on launch of the online bank. The stock has gained a whopping 150.6% over the past year, significantly outperforming the 6.1% rally of the industry it belongs to and 17.1% growth of the Zacks S&P 500 composite.

Green Dot currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Walmart Inc. (WMT) : Free Stock Analysis Report
Green Dot Corporation (GDOT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research