Greenwood

Greenwood LLC

About this app

Greenwood is the new financial home for the Black and Latino communities. Become one of the 500,000+ who have joined the movement. When you open an account through Greenwood, you can save money, help the community, and get paid early.Greenwood is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC. The Greenwood Mastercard® Debit Card is issued by Coastal Community pursuant to a license from Mastercard International.

DIGITAL SAVINGS AND SPENDING ACCOUNTS
Whether you’re putting money aside to build towards your goals or seeking a spending account that makes your money go further, Greenwood has an account to support you. Open a savings account today with no minimum or monthly fees and earn 4.15% APY. Our spending account includes a Mastercard-branded debit card with a wealth of benefits including, zero liability, identity theft protection, and global emergency services.

INVEST IN YOURSELF. NOT FEES.
No overdraft - no fees
No ATM surcharge fees at participating locations
No minimum balance fees
No peer-to-peer transfer fees

JOIN US. PAY IT FORWARD.
When you open an account through Greenwood, you save money and help the community. Recirculating wealth in our communities is at core of why we exist.
Feed 5 meals to a family through Goodr when you create an account. Give to UNCF and NAACP through spare change round-ups.

CONTACTLESS SERVICES USING APPLE PAY AND MOBILE DIRECT DEPOSIT FOR QUICK AND SECURE PAYMENTS.
Pay at participating grocery, retail and other stores with your mobile device
Complete purchases online without entering your card number
Get cash back with qualifying debit transactions. Maintain peace of mind with Mastercard's zero liability policy for unauthorized purchases. Deposit checks into your spending or savings account 24/7 right from your mobile device, no branch or ATM visits required.

FEE-FREE ATM WITHDRAWALS WORLDWIDE
Withdrawals at Allpoint, Moneypass, Wells Fargo and PNC ATMs are surcharge free.

GET PAID EARLY
With direct deposit, you may receive your payroll and other ACH deposits as soon as they’re available – often as much as two days before your actual pay date.

EARLY DIRECT DEPOSIT
Direct Deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period.

MASTERCARD ZERO LIABILITY POLICY
Mastercard's Zero Liability Policy covers U.S.-issued cards and does not apply to certain commercial card transactions or any transactions not processed by Mastercard. You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.

APY
The Annual Percentage Yield (APY) for savings accounts through Greenwood is variable and is subject to change at any time. The disclosed APY is effective as of May 22, 2023. An account must have $0.01 in savings to earn interest. The national average is 0.40% APY as of May 15, 2023. Obtained from FDIC.

Ratings and reviews

App works fine and getting paid 2 days early in convenient aside form the payments coming later in the day, but... biometrics doesn't work well/at all. Also my card doesn't work properly sometimes. Not sure what that's about but seems like it would be a problem in the future. I would like to continue with GW but my trust with my money in this "bank" is depleting over time. I'll give it time since it is a new system though.

I was a beta tester for a long time and wondered if that was the reason why I have issues with the app but honestly, for all the money and efforts they put into the partnerships they have for members, they fail when it comes to app development. While my app experience has improved over the past year or so I have been using them, the downside I have now is not receiving any app notifications about deposits or debits. And the low limit transfer to my savings account is ridiculous.

malfunction with samsung pass as it will not remember name and password for biometric sign in. Sometimes it works Sometimes it doesn't remember. This is bad because I have a password not designed to remember in my mind.

What's new

Bug fixes and performance improvements