As a new agent, Green Dot Bank has become my first enemy

[Austen Harris]

In the past two days I almost signed up two seperate folks into a policy, but couldn't get them signed up due to them banking with Green Dot. Americo, Transamerica, and American Amicable all told me they won't accept it now (although Transamerica did tell me they'll accept it if they agree to a quarterly-annual payment plan).

Anyone else run into people with green dot? I'm less than a month into selling insurance, but this is my first real obstacle of signing people onto a policy. What really am I supposed to do, tell these people to get a real bank account?

 

[scagnt83]

In the past two days I almost signed up two seperate folks into a policy, but couldn't get them signed up due to them banking with Green Dot. Americo, Transamerica, and American Amicable all told me they won't accept it now (although Transamerica did tell me they'll accept it if they agree to a quarterly-annual payment plan).

Anyone else run into people with green dot? I'm less than a month into selling insurance, but this is my first real obstacle of signing people onto a policy. What really am I supposed to do, tell these people to get a real bank account?

Find a different carrier, or find different prospects.

I would suggest posting this in the FE section. Most posters in this section do not deal with that demographic. In 17 years, I have literally never encountered someone without a real bank account.

 

[Allen Trent]

If I was a carrier, not sure I would want to work with them either. isnt it mostly a pre-paid debit card?

Saw this on the news in the last month, wonder if this has anything to do with it: More Green Dot Bank customers say they can't access their funds, causing financial distress (nbcnews.com)

 

[Baseball7]

I hope you’re around somebody who is training you to walk away from that kind of business.

If not, do not write anybody with a green dot Netspend card.

Utilize true Social Security drafting companies first, and if they have direct Xpress use only accompany the draft those payments on time as well.

But other plastic business don’t even waste your time.

 

[ValeRosso]

I hope you’re around somebody who is training you to walk away from that kind of business.

If not, do not write anybody with a green dot Netspend card.

Utilize true Social Security drafting companies first, and if they have direct Xpress use only accompany the draft those payments on time as well.

But other plastic business don’t even waste your time.

2nded. Asking for a chargeback with a greendot. It’s prepaid, so you’ll get infinite “policy lapse/conservation” emails. Ask me how I know lol.