Frequently Asked Questions

 

Why can’t I sign up for my digital bank account today?

We strive to deliver the best-in-class digital banking services to you from day 1.
That means we put our product through robust testing to ensure bugs are identified and removed before we take your money. We will only move forward with the product launch when we can give you the product and services our community deserves. So, stick with us. It will not be long. Your opportunity to be a full Greenwood customer is right around the corner. Your digital bank accounts will be provided by Coastal Community Bank, Member FDIC.

Why am I moving down on the waitlist?

People have the opportunity to move up on the waitlist by inviting friends who then sign up. You too can improve your position by inviting more of your friends and family to the community. Rest assured that either way, everyone will be allowed to be an active customer with Greenwood upon successful completion of identity verification.
Thank you for your support.

Is Greenwood Black and Latino owned?

Yes. Greenwood is majority owned, managed and operated by Blacks and Latino employees and management.

Will you have a mobile banking app?

Yes, we are modern banking for the culture. Banking services provided by Coastal Community Bank, Member FDIC.

Is there any other way to provide digital banking services in 2020?

We’ve got you covered on Apple or Android platforms.

Is my money FDIC insured?

Yes, all deposits will be FDIC insured up to the maximum allowed of $250,000 with our partner FDIC institution, Coastal Community Bank.

Do you need to be a US resident to open a digital bank account?

Yes, you must be a US resident living in the US to open an account through Greenwood.

Can allies of Black and Latino culture open accounts through Greenwood?

Absolutely. We accept that you do not have to be Black and Latin to support recirculation and rebuilding of Black and Latino communities. Thank you for being an ally and welcome to Greenwood.

Will you offer virtual Business Banking Accounts?

Yes, while not available at launch, you will be able to open business accounts through Greenwood in the future. Stay tuned and please continue to check our website for more information.

Will your cards have the chip and be contactless payment enabled?

Yes. All cards will ship with the security chip and be enabled for contactless payments.

Is there a minimum first deposit?

No. We welcome customers of all sizes and don’t punish you with extra fees for the privilege of receiving your money. We simply say thank you for trusting us.

Can I invest in Greenwood?

Not at this time. Thank you for your interest.

How do I deposit money into my digital banking or savings account?

Once your account is open, there will be several ways to deposit via ACH, checks and cash through Greenwood. These easiest options will be to set up direct deposit from your payroll or government benefits and you can use our mobile app to deposit physical checks. More details will be provided in your account disclosures.

How can I work for Greenwood?

We are constantly growing and always on the lookout for great talent with a passion for our community cause. Feel free to send your resume to jobs@bankgreenwood.com and we will alert you if any openings match your background. In addition, follow us on our LinkedIn page for updates.

What is the Killer Mike Bank Black movement?

Michael Render, or Killer Mike, is a musical artist and activist supporting the circulation of wealth in the Black community. By choosing Black-owned banks and using products and services through black-owned and managed companies, like Greenwood, your money stays in the community longer creating more opportunities to open new businesses, and businesses and create jobs.

Who is Actor & Activist Jesse Williams?

Jesse Williams is an actor known for his role on Grey’s Anatomy as well as the popular game Detroit: Become Human.  Jesse is focused on upending a system that extracts culture and resources of Black and minority communities.  By investing in Greenwood, Jesse Williams is encouraging everyone to take the power of their dollar into their own hands and make lasting wealth creation and social change possible.

A new beginning.

Want in? Join us now.

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