GO2bank card at a glance
|Getting started||No minimum to open an account online, $20 minimum to open an account at a retailer|
|Monthly service fee||$5 (waived if you received at least one direct deposit the previous month)|
|Overdraft fees||$15 for each transaction greater than $5 that overdraws your checking account by more than $10, up to a maximum of 10 overdraft fees per monthly statement|
|Other fees||Card purchase fee, out-of-network ATM fee, cash teller check cashing service fee, external account funding transaction fee|
|How to deposit||Direct deposit, cash deposits at retailers, mobile check deposit, electronic transfer|
|How to withdraw||Debit card, ATM network and Visa tellers|
|Notable feature||Account holders can access paychecks up to two days early and government benefit checks up to four days early|
GO2bank is a debit card that may be a good option for people who have limited access to banks or credit unions.
With GO2bank, you can open a mobile account online or by purchasing a starter debit card at a local retailer. Through GO2bank, you can get access to a checking account with a debit card, and you also have the option of opening a separate savings account.
5 things to know about a GO2bank debit card
Green Dot Bank launched GO2bank in 2021, hoping to reach people who don’t have access to a traditional bank account. It’s a digital bank, with no physical branches.
Here are some important details to know about GO2bank.
1. You can get a starter card at local retailers
You can open a GO2bank checking account online. But if you need a debit card right away, you can open an account and get a temporary starter card at local retailers such as 7-Eleven, CVS, Dollar Tree or Walmart.
If you purchase a starter debit card, there’s an initial card purchase fee of up to $2.95. You also have to load money onto the account at the time of purchase. The minimum amount for the initial deposit is usually $20, and the maximum initial deposit is $500.
2. You can access your pay early
As a GO2bank customer, you can access your paycheck up to two days early with direct deposit. And if you receive government benefits, you can access those funds up to four days early with direct deposit.
As an added benefit, GO2bank waives the $5 monthly maintenance fee when you receive payroll or government benefit direct deposits.
3. You can take advantage of overdraft protection
If you have a GO2bank checking account and sign up for direct deposit, you can participate in its optional overdraft protection service. If you use this service, GO2bank may allow you to complete transactions that exceed your account balance, up to a maximum of $200.
GO2bank will charge you a $15 fee when you overdraw your account if the transaction is greater than $5 and the purchase overdraws your account by more than $10.
There are some costly fees you should be aware of before opening an account.
If you make a mobile deposit to cash a check, GO2bank charges 1% of the approved check amount for payroll and government benefit checks. For other checks, such as a personal check, the fee is 5% of the check amount, with a minimum fee of $5.
Keep in mind that traditional banks and credit unions usually don’t charge account holders any fee at all for mobile deposits or check cashing services, so GO2bank’s fees are a significant drawback.
5. You cannot transfer money to another bank
Most banks allow you to easily transfer money online to another account. For example, you may want to regularly transfer money to a high-yield savings account to earn more interest.
With GO2Bank, that’s not an option. Though you can use your GO2Bank account to deposit paychecks and pay bills, you can’t transfer money from the account to an external checking or savings account with another bank.
Is the GO2bank card legit?
GO2bank is a digital bank that was launched by the Green Dot Corporation, a financial technology and bank holding company. Its debit cards are issued through the Visa network and can be used anywhere Visa cards are accepted.
How do I put money on my GO2bank card?
You can put money onto your GO2bank debit card at the time of purchase when you buy a starter card at a local retailer. The deposit amount for starter cards ranges from $20 to $500.
Once you have an account, you can deposit money through mobile check deposit, direct deposit, cash deposit at participating retailers and GO2bank’s fund transfer service.
Not sure if GO2bank is right for you? Consider these alternatives.
- Citizens Bank EverValue: The EverValue checking account is an option with no minimum balance requirement and no overdraft fees.
- RoarMoney: RoarMoney is a digital banking option that offers a lower monthly service fee, and there’s no minimum balance requirement.