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Green Dot enthusiasts with Gig Wage to give workers which can be underbanked

Green Dot enthusiasts with Gig Wage to give workers which can be underbanked

Green Dot is partnering with and investing $2.5 million in Gig Wage to provide solutions like debit cards and money management to gig workers, a lot of who are the large choice of tens of an amazing wide range of unbanked and underbanked United States americans.

Based on the Federal Reserve, 16% of grownups was in fact underbanked in 2018, meaning they’d a bank-account and also utilized solutions which are alternative cash advance providers and check-cashing services — solutions that Gig Wage creator and Chief Entrepreneur Officer Craig J. Lewis called “predatory.”

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The truth is particularly urgent for Ebony individuals, who made within the percentage that is greatest related to underbanked, at 35per cent compared to 11per cent of whites. Ebony households also make inside the best portion with this 7.1 million households which have no checking account at all, relative to the Federal Deposit Insurance Corp.