Originally Posted by
time_stamp
My theory is the GreenDot was completely blindsided by Walmart canceling the free cash loads and is scrambling to cobble together some sort of transition plan. Notice the $3.74 load fee is coming back precisely 8 weeks after it disappeared again. That sound like Walmart gave GreenDot a temporary reprieve so they could get their .... together. It doesn't make any business sense to close profitable accounts, so I bet GreenDot's lawyer is working on new change of terms of service documents and the accounts GreenDot actually wants to keep will be automatically merged into Go2Bank accounts.
Fully agree with the above.
When i was calling the first time about the new WM charge, the actual banker that I got through to (which BTW was a convoluted task to get to talk to her) had absolutely no idea that WM had imposed this charge and in fact reimbursed me the $3.74 charge that WM had imposed
A few phone calls later by her, and I suspect that GD legal and WM legal were wrangling out the details of the new charge and when it could be imposed. 8 weeks sounds like a good round number.
However, GD still had all these banking accounts that had been promised free deposits via WM, who was now out of the freebie game. I imagine GD legal just felt it was easier to close all the old accounts and open a new account named Go2. Make a few modifications such as lowering the monthly fee to $5, adding interest to the "vault" (basically a savings account) and voila, problem resolved for GD.
I suspect that the true DP will be after the Sept deadline when WM deposits will now have a $3.74 fee (which of course is less than everyone else's $4.95 charge
)