George Gresham: Well, the [indiscernible] team that has to actually execute these conversions. It stays under 24-hour watch as the conversion gets managed through an evening, late at night. So it’s not the – the work is involved in leading up to the conversion, of course, in preparing platforms and doing all you can to manage the process effectively. And then we – the conversion happens late in the evening. So the vast majority of all the work associated with doing each of the nine conversions has already been complete. But nevertheless, there’s two events remaining. But I would clarify, George, that I don’t want to make – this is a significant episode. I don’t want to make too much of it. I mean, we will and plan to continue to enhance technology, develop new capabilities, as we deploy our product roadmap.
So we’re a technology company, we’re going to be keep – we’re going to continue to have investments in technology, but that’s what’s involved with the conversions as they remain.
George Sutton: Got you. Thank you. And Jess, you ran through real quick brands that you had sunsetted. Can you just walk through the brands that you sunsetted and what kind of a conversion you were able to make into the GO2bank?
Jess Unruh: Yes. We – I would say the two primary brands that we sunset one was called RushCard, which Green Dot had acquired back in 2017, I believe, and then AccountNow, which is a program that was acquired back in 2015. So both purely direct-to-consumer businesses. And I think we’ve – when you try to convert existing customers to a new product like GO2bank not – this is not unique to us, there’s a – generally you’re not going to get the vast majority of those accounts to migrate. So I’d say with AccountNow we had less success and more success with Rush, but generally the rule of thumb is somewhere between 10% to 30% is going to convert.
George Sutton: Got you. Okay. Thanks, guys.
George Gresham: Thank you, George.
Operator: Thank you. Your next question comes from Joel Riechers from Truist Securities. Please go ahead.
Joel Riechers: Hi guys, this is Joel for Andrew. I was just wondering, and if you could provide some info regarding the cadence of the GO2bank marketing ramp, and then whether or not you think that’s going to need to be followed by a period of additional investment to kind of bring the broad product to scale or I mean, if that’s just going to be fully addressed by the tech conversion if you could just provide some color there that would be great.
George Gresham: Sure, Joel. Joel, I’ll start. I hope I cut your question. I hope I’m not being obtuse as I tried to answer it, but the – if I understood the first part of your question was what is the kind of the cadence of the marketing spend on GO2bank? And I think we’ve mentioned in the past, we spent somewhere in the neighborhood of $40 million to $50 million a year on direct-to-consumer marketing. And what we very specifically mean by that, we do specific targeted marketing for distribution of our direct-to-consumer product GO2bank. So that could take the form of direct-to-consumer mail, TV spots, search engine, optimization type work, et cetera. So that cadence can be put in the front loaded a bit in the year because during the tax season and when people are receiving refunds from the IRS, they’re more receptive to offers of this type.
So we tend to front load some of that investment, and it tends to taper off towards Q3 and Q4 as a general rule. And I wouldn’t expect any material changes from that general rule. And if I understood the second part of your question whether we expect any material increase in that investment, we target our investment based on cost effectiveness, cost per funded accounts. And so we know that if we are unruly in our investment in direct-to-consumer marketing, that can drive up the price in that particular sub distribution channel. And that causes our cost per funded to go up to a point that at certain points we deem unacceptable. So generally, the answer to the second part of your question is no. We don’t expect any dramatic change. Certainly, not in the short-term in our direct-to-consumer marketing in GO2bank.