FAQs
How old do you have to be to use the MoneyBag?
You must be at least 18 years old to register as a primary accountholder for MoneyBag.
A primary accountholder can order a card for a secondary accountholder, age 13 or older, through the MoneyBag app. Activated, personalized card required. Limit of 4 additional cards per account.
What is necessary to get a MoneyBag Account?
You must be at least 18 years old to register as a primary accountholder. Federal law requires us to obtain, verify and record your name, address, date of birth, and Social Security number when you open an account.
We may also ask for additional ID verification, which may include your driver’s license or other identifying documents. If a valid Social Security number is not provided, a personalized card cannot be issued. Mobile or email verification and mobile app are required to access all features.
Where can I use my MoneyBag Card to make purchases?
Your MoneyBag account includes a debit card. You can use your MoneyBag card to make purchases everywhere Visa® Debit & Debit MasterCard® are accepted in the U.S.
The MoneyBag is a debit card account. Just like a checking account, MoneyBag is a powerful way to manage your money and make it easy to do things like:
Deposit cash in-store with your card or without your card using a secure barcode in the app.
Direct deposit payroll or government benefits with routing and account numbers to provide to your employee or benefits office.
Shop online or in-store everywhere Mastercard® or Visa® Debit is accepted in the U.S.
Quickly send money or receive money from other MoneyBag cardholders or any other Green Dot Bank issued card nationwide.
Receive your pay up to 2 days before payday or government benefits up to 4 days before benefits day with free direct deposit (subject to deposit verification and your payment provider’s process and timing).
Conveniently pay bills on your schedule.
Use the card in your mobile wallets when you set up your MoneyBag for Walmart Pay, Google PayTM or Samsung Pay®.
Order family accounts for up to 4 approved members ages 13+ with your activated, personalized card.
How are MoneyBag Accounts different from credit cards?
A MoneyBag account does not offer a line of credit, which means you’ll need to add money to your account before you can use it.
How are MoneyBag Accounts different from gift cards?
Unlike gift cards, the MoneyBag account is associated with a bank account. You can withdraw and deposit cash, receive direct deposits, pay bills, make bank transfers, cash checks and so much more. Subject to identity verification. Fees apply to the MoneyBag and may take your account balance negative if your account balance does not cover it.
How can I waive my monthly fee for MoneyBag?
The monthly fee is waived when you receive direct deposits of payroll or government benefits totaling at least $500 in the previous monthly statement period. Otherwise, the monthly fee is $5.94 per month. First monthly fee occurs upon first use, the day after card activation or 90 days after card purchase, whichever is earlier.
Is there a credit check with the MoneyBag?
There is no credit check with a MoneyBag and we do not report your account to any credit bureau.