Getting Started with Greenwood
Who Can Open an Account
To join our community, you must be a US citizen or permanent resident and be 18 years of age or older. Please visit our website to get started.
Things you’ll need handy while filling out your application:
- Your Full Name
- Your Social Security Number
- Your Date of Birth
- Your mailing address
At Greenwood, your privacy and security are our top priorities. We don’t rely on consumer reporting agencies or credit bureaus to determine your eligibility. Instead, we verify your personal information to ensure accuracy. We’ll guide you through the process if we need additional documentation, always keeping your security in mind.
Who is Greenwood?
Greenwood is a financial technology company inspired by the original Greenwood district in Tulsa, Oklahoma, famously known as “Black Wall Street.” Greenwood was once home to over 10,000 residents and 600 thriving businesses, a powerful symbol of economic self-sufficiency where the Black dollar recirculated over 30 times before leaving the community. Tragically, a White mob destroyed this prosperous district in 1921. Fast forward to today, Black consumers have $1.6 trillion in annual spending power, yet only 2% of that flows into Black-owned businesses. Imagine increasing that share by just 0.5%—an additional $8 billion directed toward Black-owned businesses. The impact goes even further. Research shows that money spent at Black-owned businesses circulates within the Black community 1 to 1.5 times before leaving, creating a potential economic impact of up to $48 billion. We’re here to change that.
Greenwood’s mission is anchored in the following:
- Driving spending within the Black community
- Expanding access to capital for Black entrepreneurs
- Democratizing wealth building with culturally relevant tools
- Fostering a digital-first community that celebrates progress while honoring the legacy of Greenwood
We are Black-founded and Black-led and committed to building a future where economic empowerment and opportunity are accessible to all.
Your Greenwood Membership Type
Premium Membership
At Greenwood, we offer our esteemed members the opportunity to thrive and live their best lives with our premium membership. For a monthly fee of $9.99, you can unlock a world of luxury and savings. Imagine waking up to a complimentary breakfast for two at a luxury hotel or enjoying savings on flights and elite membership status with car rental companies. These are just a few unique benefits that set our premium membership apart, making it a valuable addition to your financial toolkit.
Premium Membership Benefits:
Account Benefits:
- No overdraft penalties.
- No in-network ATM fees.
- There are no minimum balance fees.
- There are no peer-to-peer transfer fees.
- There are no hidden fees.
- Up to 2-day early pay
Mastercard Benefits:
Luxury Hotels and Resort Portfolio
- Complimentary daily breakfast for two plus amenities at more than 2,000 luxury hotels and resorts.
- Savings on flights.
- Savings and elite membership status through participating car rental companies.
- Additional savings and value on cruise, tour, and vacation packages.
Mastercard Golf
- Discounted access to golf courses.
- Complimentary grounds passes for PGA Tournaments.
- Access to domestic and international golf travel packages.
- Priceless Lessons with PGA Tour professionals, access to a private network of courses, and more.*
Price protection – Reimburses for the difference in price, up to $250 per claim**
Membership Billing
We want to give you time to enjoy your Greenwood account without worrying about the first monthly fee. You will not see the fee applied 30 days after opening your account. After 30 days, the fee will be applied to your account on the same day each month, depending on the date the account was opened. The funds will come out of your account automatically, so there is no need to worry about adding a card to pay.
Downgrade my Membership
We understand that life can be unpredictable, and you may need to adjust your expenses. That’s why we’ve designed the process of downgrading your account to be as hassle-free as possible. Contact our support team, and we’ll guide you through the process, ensuring that you have complete control over your account and its features. The fee will be adjusted within the next billing cycle.
Our dedicated support team is always here for you. Whether you have questions or need assistance with your Greenwood account, we’re just a call or email away. Contact us at 1-844-621-1921 or support@gogreenwood.com, and we’ll gladly help.
After downgrading, your debit card will still work but lose its perks. The fee will be adjusted within the next billing cycle.
Updating My Personal Information
Change my Name
Whether you recently changed your name due to marriage, divorce, or any other reason, we’re here to make the process as smooth as possible. At Greenwood, we understand the importance of accurate personal information and are committed to helping you update it. Contact our support team—email support@gogreenwood.com.
Change my Address
Moving can be a lot of work, so we’re here to make changing your address as smooth as possible. Contact our support team—email support@gogreenwood.com.
Change my Email
We’re here to make changing your email address as smooth as possible. Contact our support team—email support@gogreenwood.com.
Change my Phone Number
We’re here to make changing your phone number as smooth as possible. Contact our support team—email support@gogreenwood.com.
Login and Security
Change my password
Don’t stress. Forgetting your password is a rite of passage. We make the process of changing your password easy. You are automatically directed to the login page once you open the app. Just hit forgot password and follow the steps. Remember that your password must be 10-64 characters long and have at least one number, uppercase letter, and a unique character.
Can I log in with Biometrics?
Yes, you can opt-in to use biometrics to log into your account. Click the icon at the top right of your screen, then hit settings to turn on biometrics sign-in, flip the button, and it will turn green.
Difficulty Logging in
Trouble with verification code
Check your phone and email settings. If you opt to receive the verification codes by email, they can sometimes go to an unknown, junk, or spam folder. If you’ve accidentally reported our number to spam, check your blocked numbers; our text may be there.
Forgotten Password
You can change your password in the app or on the web by hitting the forgot password hyperlink and following the instructions.
General Tips
- Make sure you have stable internet/network connectivity.
- Make sure you have the latest version of the Greenwood app.
- Update your phone’s operating system.
If you have done the above steps and are still having problems logging in, please call the Greenwoods support team at 1-844-625-1921 or email support@gogreenwood.com.
How Do I Close my Account?
Oh, no! We don’t want to see you go. If there is anything we can do differently, please let us know. To close your account, please call the Greenwoods support team at 1-844-625-1921 or email support@gogreenwood.com.
Your Debit Card
Virtual Card
What is a virtual card?
A virtual debit card is a digital one that functions like a physical one. It is created automatically and activated instantly.
How can I use my virtual card?
- You can use your virtual card to make online Apple Pay/Google Pay card payments.
- You cannot use the virtual card for cash withdrawals.
How can I view my virtual card?
To view in the app:
- On your dashboard, select the icon located on the top right corner.
- Select “My Card”.
- View your card details.
To view on the web:
- On your dashboard, select the “My Card” icon at the top of the screen.
- View your card details.
Physical Card
When will I receive my card?
New Account: You will receive your physical card in the mail 5-7 business days after opening your account.
Replacement card: You will receive your replacement card 5-7 business days after the replacement card fee is collected from your account. (for complete details regarding the fee, please see (insert terms and conditions))
Can I have my card expedited?
Yes, for a fee of $20, you can have your card sent express. Express shipping has your card delivered to you within two business days. At the same time, we understand the importance and excitement of wanting to have your physical card in hand. Remember that you have access to your virtual card and can use that to continue spending while you wait for your physical card.
How do I activate my card?
- Call the number on the back of your card and follow the prompts in our automated system.
- Log in to the app or web, go to the “My Card” section, and select activate.
How many debit cards can I have?
You can only have one active debit card per spending account.
My Card is Lost or Stolen
Misplacing your card can be scary and frustrating. Take a breath—we’ve got you covered. Log into the app or web and mark your card as lost. The card will be disabled. Once you mark your card as lost, you will see a new virtual card generated instantly. You will receive your virtual card within 5-7 business days.
Steps to report your card lost or stolen:
In-app:
- On your dashboard, select the icon located on the top right of the screen.
- Select “My Card”.
- Select “Report Card”.
- Flip the green radio button (once locked, the radio button will turn grey).
On the Web:
- On your dashboard, select the “My Card” icon at the top of the screen.
- Select “Lock Card”.
- Select my card was lost or damaged (once locked, the radio button will turn grey).
How do I Lock my Debit Card temporarily?
You can temporarily lock your card to prevent unexpected payments from throwing off your monthly budget.
How to freeze your card:
In-app:
- On your dashboard, select the icon located on the top right of the screen.
- Select “My Card”.
- Select “Lock Card”.
- Flip the green radio button (once locked, the radio button will turn grey).
On the Web:
- On your dashboard, select the “My Card” icon at the top of the screen.
- Select “Lock Card”.
- Flip the green radio button (once locked, the radio button will turn grey).
Transaction Limits and Fees
What are the fees associated with my Greenwood Account?
One benefit of having a Greenwood spending account is that there are no hidden fees. To read more about potential costs, see the Terms and Conditions (insert terms and conditions).
Here are some of the most common account-related fees you may encounter:
| Fee Type | Greenwood Basic Membership | Premium Account Monthly Fee (Effective Before September 15, 2022) | Premium Account Monthly Fee (Effective September 15, 2022) | Elevate |
|---|---|---|---|---|
| Account Fee | No Fee | $4.99 | Premium-$9.99 effective Jan 1, 2024 (new premium accounts) Monthly/ $100 Annually (Annual fee grandfathered on 2/1/24) | $200 Monthly/ $2000 Annually Billed upon enrollment and every 30 days after that. |
| Domestic ATM Withdrawals | $2.50 | $2.50 | $2.50 | $2.50 Withdrawals at Moneypass, Wells Fargo, and PNC ATMs are surcharge-free. This is our fee. Our fee applies to all domestic withdrawals except Allpoint and Moneypass ATM transactions. |
| Replacement Card Fee | $5.00 | $5.00 | $5.00 | $5.00 |
| Expedited Shipping | $20.00 | $20.00 | $20.00 | $20.00 |
Deposit, Cash Access and Transaction Limits
Having your card declined is not the best feeling in the world. We want to ensure you know your transaction limits to avoid frustration at the checkout counter. To read more about potential account limits, check out the Terms and Conditions (insert terms and conditions).
| Transaction Type | Greenwood Basic Membership – Maximum Daily Limit | Greenwood Premium Membership – Maximum Daily Limit | Greenwood Elevate Membership – Maximum Daily Limit |
|---|---|---|---|
| ATM Withdrawal | $1,500/day | $2,500/day | $2,500/day Limited to five (5) times per day |
| ACH Transfers (Direct Deposit and Transfers initiated from an external financial institution) | No Limit | No Limit | No Limit No limit to the number of times per day |
| Outgoing ACH Transfers (initiated via the Greenwood Mobile app) | $5,000/week $5,000/week | $10,000/month $10,000/month | $5,000/week $10,000/month No limit to the number of times per day |
| Cash Loads – Green Dot | $1,000/day | $1,000/day | $1,000/day Limited to three (3) per day |
| Card Purchases (Signature and PIN) | $5,500/day | $10,000/day | $10,000/day No limit to the number of times per day |
| Cash Back at Point of Sale | $500/day | $500/day | $500/day No limit to the number of times per day |
| The Over-the-counter teller Withdrawal | $1,500/day | $3,000/day | $3,000/day The dollar limit represents the maximum amount permitted in 24 hours. The number of transactions per day is not limited. |
Moving Money In and Out of Your Greenwood Account
How do I add funds to Greenwood?
Set up direct deposit:
- You can set up your direct deposit by logging into your Greenwood app and linking to your payroll provider.
- Select “Move Money” on the dashboard in the bottom menu bar.
- Then select “Direct Deposit”.
- Once there, click on “Find Your Payroll Provider.”
- Select your payroll provider and follow the instructions to set up direct deposit.
Set up direct deposit directly through your employer:
- You can download a direct deposit form and see your account details to enter into your employer’s site in the app.
- Select “Move Money” on the dashboard in the bottom menu bar.
- Then select “Send Direct Deposit form.” Once selected, the form will automatically be emailed so you can send it to your employer.
- You can also copy your routing and account numbers from this site and add them to your employer’s app.
Link your external account to your Greenwood account:
- You can link an external account by logging into your Greenwood app.
- Select “Move Money” on the dashboard in the bottom menu bar.
- Then select “Add money from Other Bank.”
- To add an external account, click the drop-down window that says “Transfer From.”
- Select “Add.”
- Then select “Add Account.”
- Follow the instructions to find your bank and link it to your Greenwood account.
- If you already have a linked account, select “Move Money” on the dashboard in the bottom menu bar, then select “Add money from Other Bank.”
- Enter the amount you would like to transfer.
- Click the drop-down window that says “Transfer from.”
- Click the drop-down window that says “Transfer To.”
Adding Cash:
Sometimes, you just have to have cash, and you want to put it in your account. Greenwood has partnered with Greendot to make that process easier. To search for a location near you, please use the Greendot Retailer Location site. Be mindful that Greendot may assess a fee for using their service.
Cash Back for Buying Black FAQs for Members
What is the Greenwood Cash Back for Buying Black program?
Cash Back for Buying Black (referred to as the Cash Back program) is designed to be straightforward. It allows you to earn cash back for every dollar spent through purchases made at participating businesses with your Greenwood Mastercard® Debit Card.
How does the Cash Back for Buying Black Program work?
When you use your Greenwood Mastercard® Debit Card, you can earn Cash Back Rewards on qualified transactions. As a Greenwood Premium member, you’ll receive a Cash Back Reward when you make a purchase with participating businesses that meet the offer’s qualifying terms. Offer Terms may vary by participating business and are available on the Greenwood website or mobile app. A Cash Back Reward will be credited to your Greenwood Spending Account within 45 days after the qualifying transaction has posted.
Who is eligible to join the Greenwood Cash Back for Buying Black Program?
Greenwood Premium members are automatically enrolled. The Greenwood Spending Account is where your Cash Back Rewards are credited. Please note that we actively monitor the program to prevent abuse or gaming. If any abuse or gaming is detected, you will be prohibited from further participation in the Program and forfeit any Cash Back Rewards you have earned but have not yet received. Additionally, Greenwood reserves the right to recover any Cash Back Rewards that have already been issued.
How is my information stored and managed by the Greenwood Cash Back for Buying Black Program?
Rest assured, your information is handled with the utmost care. Please see our privacy policy for complete details on how Greenwood collects, handles, and processes customer data.
Is there a minimum eligibility requirement to utilize the Greenwood Cash Back for Buying Black Program?
This Program is only available to Greenwood customers who are a Premium Member.
What is a qualified transaction?
Details of what constitutes a qualified transaction are available on the Greenwood website or in the mobile app under “Offer Terms”. Offer Terms may vary by participating business. A list of participating businesses is available on the Greenwood website or mobile app. We may add, remove, or modify eligible merchants at any time.
Do I have to re-sign for rewards if my card is replaced after being lost or stolen?
If you have a replacement card, you will not need to register your new card before making purchases that may be eligible for the program.
What is the timeline for receiving eligible rewards?
Once a qualifying transaction has been posted to your account, you will see the Cash Back Reward transactions posted within 45 business days.
Will I receive a notification once rewards have been processed?
You will receive a monthly statement displaying Cash Back Rewards from qualifying transactions.
Where can I view my rewards history?
The Cash Back Rewards history can be found on your monthly statement.
Can I gift or transfer my cash back to someone else?
A Cash Back Reward is non-transferable and cannot be redeemed by anyone other than the Account holder.
Does a Cash Back Reward have an expiration date?
Not at the moment. We reserve the right to modify, suspend, or terminate the Program at any time, with or without prior notice.
How much is Cash Back Reward worth?
The Cash Back Reward percentage for qualified transactions will be communicated through the Offer Terms on the Greenwood website or mobile app.
Are there federal, state, or local taxes that may apply to earning or using cash back?
Greenwood may issue you an IRS Form 1099-MISC, or other appropriate forms reporting the value of the Cash Back Reward earned through the Program. Customers are responsible for any tax liabilities associated with the Cash Back for Buying Black Program and should consult a tax professional as needed.
Is there an earnings limit per transaction?
Eligible customers can earn up to an aggregate Cash Back Reward total of $1,000 per year. Additionally, each qualified transaction is subject to a $250 Cash Back Reward limit.
Where can I find the Terms of the Cash Back for Buying Black program.
The Terms for the program are here.