Green Dot deposited close to USD 2.6 billion in stimulus payments

Tuesday 16 March 2021 12:47 CET | News

Green Dot Corporation has deposited close to USD 2.6 billion in stimulus payments to eligible recipients as of 12 p.m. ET Monday, 15 March 2021.

The digital bank and payments provider began processing payments early Friday, March 12th and is continuing to process payments as quickly as possible, according to a bank’s announcement. The bank’s core customers and top priority are low- to moderate-income Americans said Dan Henry, CEO of Green Dot. ‘Part of that means ensuring we have the liquidity to advance funds to eligible recipients as soon as orders are confirmed from the IRS. In other words, we aren’t waiting for the funds from the IRS to settle before depositing them into customers’ accounts’, the CEO continued.

In addition to ensuring adequate liquidity to deposit funds early, Green Dot prepared for EIP3 by ramping up stimulus-focused customer support teams and overall UX, as well as issuing educational content and communications to help customers prepare early on.

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Keywords: digital banking, bank account, financial inclusion
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech

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