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GO2bank is a brand of Green Dot Bank and its mission is to provide banking options to the underbanked, meaning those who don’t have access to financial products such as checking accounts, credit cards, and loans. Thus, it provides checking account and savings account options, as well as provides customers with a GO2bank debit card.

GO2bank isn’t free, but is a less expensive option than other non-traditional bank options. You can create an account on GO2bank’s website, requiring you to enter some personal information including your social security number (SSN). It is important to note that GO2bank is FDIC-insured, so your money is protected.

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Attention: GO2bank is a separate product from GoBank.

GO2bank and GoBank are both brands of Green Dot Bank, but they are not the same product. You can have a GO2bank account without having a GoBank account.

 

Learn more about GoBank's products and services

Continue reading for a complete review of this online bank.

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The Good

No Credit Check or Credit Score Required

To sign up for a GO2bank account, there is no credit check or credit score required. This makes it much easier for consumers with low or no credit to be approved for an account.

Overdraft Protection

GO2bank offers overdraft protection up to $200 if you set up direct deposits, through which you can then opt in for overdraft protection.

The amount of overdraft coverage you receive is based on your direct deposits:

  • Basic coverage — receive $10 of coverage for any single direct deposit of any amount to your account
  • Premium 100 coverage — receive $100 of coverage when you make at least two direct deposits totaling $200+ in a period of 35 days
  • Premium 200 coverage — receive $200 of coverage when you make at least two direct deposits totaling $400+ in a period of 35 days

It is important to note that your overdraft protection coverage is adjusted automatically based on your direct deposits. In addition, after the first transaction that overdraws your account you must bring your account positive within 24 hours to avoid a $15 fee.

Paycheck Early Access

Through ASAP Direct Deposit™, you can get your paycheck up to two days early. In addition, you can get your government benefits up to four days early.

Protection and Security

GO2bank is FDIC-insured, and unlike many other mobile account products, Green Dot Bank (the managing bank of the GO2bank and GoBank brands) is the issuing bank, so your money is not kept with another bank that you’re unfamiliar with.

In addition, the GO2bank mobile app has fraud alerts that notify you of any suspicious activity on your account, as well as lock protection that allows you to lock and unlock your card with a few taps if you notice any strange purchases on your account.

Free Nationwide ATM Network

GO2bank makes it easier, and affordable, to withdraw money from your account with access to free ATMs nationwide. This is a unique option, especially in the online and mobile banking industry, as many banks don’t have an ATM network, requiring consumers to pay a fee when withdrawing money from their account at an ATM.

It is important to note that if you withdraw cash from an ATM outside of GO2bank’s network, you will be charged a fee of $3. Out-of-network ATM balance inquiries have a $0.50 fee per inquiry.

Cash Back Options

You can receive instant cash back when you buy eGift Cards through popular merchants in the GO2bank app:

  • Earn up to 7% cash back on eGift Card purchases from nearly 100 popular merchants
  • Earn 3% instant cash back on Amazon eGift Card purchases in the app
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The Bad

Limited Website Information

GO2bank’s website is easy to navigate, but it is difficult to know exactly what GO2bank offers and how its services work.

Customer Service

It is difficult to contact GO2bank if you have general questions about the product. There is no contact email, and the phone number on the website, when called, does not provide an option to speak with a company representative. Instead, it only provides options specific to a GO2bank account (checking your account, reporting a lost card, etc.).

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The Bottom Line

GO2bank is a mobile banking option intended for the underbanked who have limited access to traditional banking products. The app makes banking easy and you can rest assured that your money is protected, as GO2bank is FDIC-insured and the app has multiple security features.

Based on a lack of information on the website and difficulty in contacting customer service, we would recommend looking into other online banking options.

It is important to note that GO2bank is not the same as GoBank, another brand under Green Dot Bank.

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