Green Dot Bank
US · Austin, Texas · Federal Reserve (state-chartered)
Green Dot Bank is a Bank based in US (Austin, Texas), regulated by Federal Reserve (state-chartered). The institution's BaaS program is currently under regulatory scrutiny, launched in 2019.
Green Dot Bank supports the following products and services: Payments, Cards, Accounts, Payroll. The bank serves customers across US.
Notable fintech partners include Apple (Apple Cash — ~44% of revenue), Walmart, Amazon, Intuit/TurboTax, Uber, Stash.
- Products Supported
- PaymentsCardsAccountsPayroll
- Geographies Served
- US
- Charter / Regulator
- Federal Reserve (state-chartered)
- API Standards
- REST API
- Minimum Deal Size
- Not publicly disclosed
- Year Program Launched
- 2019
Apple (Apple Cash — ~44% of revenue), Walmart, Amazon, Intuit/TurboTax, Uber, Stash
Federal Reserve consent order (July 2024) — $44M settlement for consumer compliance and AML deficiencies dating back to 2017
NYSE: GDOT. WARNING: Active Fed consent order with $44M penalty.
Despite this renewed multi-year Apple Cash deal in Q2 2024. BaaS revenue $231M in Q2 2024 up 44% YoY.
CommerceOne Acquires Green Dot Bank to Form Sponsor Bank Holding Company
CommerceOne Financial is acquiring Green Dot Bank's charter and ~$5 billion in assets to create a new publicly traded bank holding company. Simultaneously, Smith Ventures is acquiring Green Dot's non-bank fintech operations for $690 million. A seven-year exclusive agreement positions CommerceOne as the sponsor bank for the fintech business. The deals are expected to close in Q2 2026 pending regulatory approval.
Stash Raises $65M to Expand Banking and Micro-Investment Platform
Consumer fintech Stash raised $65M from Union Square Ventures, Breyer Capital, and others. The platform partners with Green Dot's banking subsidiary for FDIC-insured accounts and launched a stock-back debit card rewards feature. With over 2 million users, the funding supports Stash's embedded banking and micro-investment product suite.