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. Deposits are insured up to $250,000 per depositor. FDIC insurance only covers the failure of an FDIC-insured bank. FDIC insurance is available through pass-through insurance at Coastal Community Bank, Member FDIC, if certain conditions have been met. The Greenwood Debit Mastercard® is issued by Coastal Community Bank pursuant to a license by 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 wanted to be a part of this bank so much, so it's very disheartening to have to say that this bank and this app are terrible. I waited months to finally open my account with Greenwood. And after downloading the app and creating an my account, I couldn't use it. Transferring money to my Greenwood account was impossible. My physical debit card never arrived. The app couldn't connect to my other bank account at all. I sent several emails to customer service and never once got a reply.

Have been using this bank consistently for about a year now and have never had any issues until this past week. First thing is I deposited a mobile check that I received from auctioning off some items and they've had it for 5 business days now 7 🗓 days and the money has been removed from the other parties account but has not been put into mine. I've received zero updates about it and when I call I get the generic answer of just have to keep waiting. Then debit card wouldn't work at atm.

What’s new

We’ve fixed various issues under the hood to keep the app running smooth and reliably.