miwarlock
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Apple Pay person-to-person transfers will be free with debit card, incur 3% fee with credi...
Regarding Green Dot Bank.
I can only give you my opinion and experience as Green Dot and Go Bank Card customer. Both Green Dot and GoBank are a part of the Green Dot Bank card services provided by Green Dot Corporation - GoBank is a brand of Green Dot Bank, Member FDIC, which also operates under the brands Green Dot Bank and Bonneville Bank. Deposits under any of these trade names are deposits with a single FDIC-insured bank, Green Dot Bank, and are aggregated for deposit insurance coverage.
This being said, I have heard of some horror stories about Green Dot, but I can only say that what I read was basically people who have their cards and services really do not read or bother to understand the Terms of service. Instead that part of their mailer which comes with their card is generally thrown in the trash and then when problems arise The Bank is then blamed. I am not saying any BANK is innocent only from my experience as a previous contractor to one of the Nations largest Banks.
What I highly recommend is to take the time to read any discloures you receive or is posted on Apple, Green Dot's Website as regards to their policy and how they handle transactions. A simple 20 minutes of your time will help you and save you and the bank along with a headache. My biggest grip with any customer who banked with the bank I worked for was the number one excuse that they didn't read any disclosure about their account which details your rights, the banks rights, your expectations as a customer and what you should expect from your bank and any and all fees and how to avoid them. Now again, I mention NOT all banks and even your number one bank may not be honest or perfect and you have a right to fight for your money. However, saying you didn't get any disclosure when you open an account is a flat out LIE! Why? Number one the banks are required by Federal LAW to provide you with disclosures, and Fee schedules when you open an account and any time the bank makes changes to it policy regarding that account type. And secondly 9 times out of 10 there is online banking and when you login or set it up you are also provided with these disclosures. Just because you decided NOT to read them does not eliminate your responsibility as the account holder/owner.
In the end, if you are concerned about Apple's partnership with Green Dot Bank I suggest you do some research about the service, green dot bank. And either don't use the Apple Pay P2P service or start small and see how it works out for you. Apple provides disclosures and your bank provides these regarding how Apple Pay works, your responsibility in using the services, Apple's role, and your Banks Role and their responsibilities.
