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Holders of Green Dot Corp.'s prepaid MasterCard and Visa cards now can withdraw funds from their card accounts surcharge free at MoneyPass ATMs under an agreement the two companies announced late Wednesday. Green Dot cards are boosting transactions at MoneyPass' network of more than 17,000 ATMs in all 50 states, says Douglas P. Miraglia, MoneyPass president. "Since this agreement was signed more than 60 days ago, transactions have doubled and tripled month over month," Miraglia tells ATM&Debit News, a CardLine sister publication. "Prepaid cardholders are a very active segment of the debit card industry." Steve Streit, CEO of Monrovia, Calif.-based Green Dot, says the agreement makes Green Dot cards less expensive to use. "We don't charge cardholders' overdraft fees. There are not any penalty charges and no minimum-balance fees. Now Green Dot cardholders can withdraw money from their Green Dot card accounts at MoneyPass ATMs surcharge free," Streit says. MoneyPass, which is owned by Minneapolis-based U.S. Bancorp, deploys its ATMs in banks, credit unions and retail locations. Green Dot opens 5 million prepaid card accounts annually and less than 20% of fund withdrawals occur at ATMs, Streit says.
