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Our verdict

A mobile-first account by Green Dot — but you’ll need a direct deposit to earn the best perks.

GO2bank by Green Dot is best for those who prefer managing finances online and want a savings and checking account in one. You can earn up to 7% in cash back for buying eGift cards in the app for select merchants, enjoy up to 4.5% APY on savings up to $5,000 and use mobile check deposit and Green Dot’s large retail and ATM network. You need at least $20 to open the account, and to access the best features, you’ll need to set up direct deposits totaling at least $100 a month. Setting up direct deposits gives you no monthly fees, early paycheck arrival, up to $200 in overdraft protection and its credit-building secured credit card. But without direct deposits, you’ll pay $5 a month. And if you want a debit card, you’ll need to buy it for $2.95 at a Green Dot location.

Best for: Those who need an all-in-one, everyday digital account.

Pros

  • Up to 4.5% APY on up to $5,000 in savings
  • Strong network of 90,000+ ATMs
  • Unlock secured credit card with direct deposit

Cons

  • $5 monthly fee unless you set up direct deposits
  • Cash back only for eGift card purchases
  • $2.95 debit card purchase fee

In this guide

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Who is GO2bank checking best for?

This account is best for someone who likes online banking and needs an everyday checking account with savings features. With qualifying direct deposits of at least $100 per month, you’ll waive the $5 monthly fee, unlock the ability to open a secured card with no annual fee, get overdraft protection of up to $200 and much more.

But you’ll need to pay $2.95 to get a GO2Bank debit card, which is something included for free for most checking accounts. If you don’t need a debit card and aren’t planning to make this your everyday checking, you likely won’t have much use for this GO2bank and may want to compare other top checking accounts.

What we like about the GO2bank account

GO2bank is a mobile account under Green Dot Bank, which is a member of the FDIC. Green Dot is insured and a fully-fledged online bank, so your funds are federally insured up to $250,000. Green Dot has a very large network of over 90,000 ATMs and many retail locations to cash checks, purchase cards and send funds — a network so large that many other digital accounts use it for their accounts.

Overdraft protection from $10 to $200

All users automatically have overdraft protection up to $10 with no fees. Additional protection is available for up to $200 for users who meet certain requirements. But you’ll need to opt in to the service, and with additional protection, you may face a $15 fee if you don’t resolve the charge within 24 hours.

Eligibility requirements include frequency of deposits, account status and transaction history. There aren’t many details on the site, but this all points to GO2bank requiring users to have a positive account status and frequent direct deposits to qualify.

Up to 4.5% APY on savings vaults

The GO2bank account is a two-in-one account offering checking and savings features. With the account, you can open “vaults,” the account’s savings feature. You can create up to five vaults, and each one can earn up to 4.5% APY on up to $5,000.

Cashback rewards

The cashback rewards are a little offbeat, offering up to 7% cash back if you purchase an eGift card within the app. The exact percentage you earn depends on the merchant, and if you want to send the card to someone else, they must have an active GO2bank account.

Secured credit card for credit building

With eligible direct deposits, you can apply for the GO2bank Secured Credit Card in the app or on GO2bank’s site. To apply, you must enter your monthly income and expenses, and there’s no credit check. To qualify, you’ll need to set up direct deposits of at least $100 per month.

This secured card has no annual fee, offers a credit limit starting at $100, and GO2bank reports to all three credit bureaus to help you build and improve your credit history.

Where it falls short

Not an unusual downside with online banks, but GO2bank doesn’t have any physical branches, which can make customer service a little tricky. That’s not a con for everyone, as online banking has greatly diminished the need to visit brick-and-mortar locations.

And while the account offers cashback rewards, you won’t earn those rewards on everyday purchases. You can only earn cash back when you buy eGift cards in the app, and you can’t send them to anyone else unless they have an active GO2bank account, which is a bit of a disappointment.

You have to buy your debit card

You’ll need to visit a Green Dot location to purchase your GO2bank debit card for $2.95. This isn’t the norm, as most banks and credit unions give you the first card for free and mail it to you after signing up. But GO2bank doesn’t charge for replacement cards, so at least there’s that.

GO2bank’s fees and access

Type of feeFee details
Monthly service$5, waived with direct deposit
Opening deposit$20 to $500
ATMs
  • Domestic: $0 within network / $3 out-of-network withdrawal, $0.50 out-of-network balance inquiry
  • International: $3 out-of-network withdrawal, $0.50 out-of-network balance inquiry
Debit card fees
  • Cash withdrawals:$2.95
  • Foreign transactions: 3%
  • Card replacement: $0
  • Cash deposit at Green Dot: $4.95
Overdraft or nonsufficient funds$0 or $15 with additional overdraft coverage if not resolved within 24 hours
Wire transfersN/A
Other fees
  • Expedited delivery of replacement debit or secured credit card: $24.95
  • Funding transaction fee: 1.5% of the amount transferred, up to $10
  • Mobile check deposit: 1% or 5% of check amount for money in minutes, depending on check type, or $0 for 10-day deposit
  • Transfer from linked debit card: 3%, minimum of $2

Compare GO2bank to other checking accounts

Narrow down top checking accounts by monthly fees, opening deposits and other features. To see options side by side, tick the Compare box on up to four options for a closer comparison.

Name Product Fee Minimum deposit to open Annual Percentage Yield (APY) Offer
SoFi Checking and Savings
Finder Score: 4.5 / 5: ★★★★★
Bonus
SoFi Checking and Savings
$0 per month
$0
4.60% on balances of $0+
0.50% on balances of $0+
1.20% on balances of $0+
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until June 30, 2024.
Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
Upgrade Rewards Checking Plus
Finder Score: 4.3 / 5: ★★★★★
Upgrade Rewards Checking Plus
$0 per month
$0
N/A
Earn up to 2% cashback rewards on everyday purchases. Pay $0 fees for overdraft, domestic wire transfer and monthly maintenance. Member FDIC.
Cash Card by Cash App
Finder Score: 4.4 / 5: ★★★★★
Cash Card by Cash App
$0 per month
$0
N/A
The Cash App Cash Card lets you pay for goods and services both online and in stores using your Cash App balance. Enjoy features like ATM access, direct deposit, instant discounts at select stores and a customizable card.
Axos Bank Rewards Checking
Finder Score: 4.2 / 5: ★★★★★
Bonus
Axos Bank Rewards Checking
$0 per month
$0
3.30% on balances of $0 to $50,000
Use promo code AXOS300 and apply by June 30th, 2024, to earn up to $300 bonus, $50 each month you meet requirements: Make direct deposits of $5,000+ each month for the first 7 months and maintain an average balance of $7,000.
Earn up to 3.3% APY after meeting rate requirements. Get ATM free reimbursements at all domestic ATMs. Pay $0 monthly or overdraft fees. FDIC insured.
Chime® Checking Account
Finder Score: 4.8 / 5: ★★★★★
Chime® Checking Account
$0 per month
$0
N/A
Save easily and access your paycheck up to 2 days early with direct deposit. Pay $0 monthly fees, and no minimum balance is required. Access 24/7 support and get daily balance and transaction alerts. FDIC insured.
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Customer experience

GO2bank is part of the Green Dot brand, and to be frank, it has horrible customer reviews and a poor reputation online. Green Dot has a Pattern of Complaint alert on its Better Business Bureau (BBB) profile due to the numerous complaints around customer service issues.

There are over 7,000 complaints against Green Dot in the last three years alone, and most of them reference the GO2bank account. Many customers cite they were put on hold for hours trying to resolve issues, others state funds are held for days or weeks, and many claim their accounts are being incorrectly flagged for fraud. There were also quite a few complaints specifically mentioning TurboTax, with customers stating they filed their tax return with TurboTax and never received their refund in their GO2bank account.

On Reddit, multiple threads discuss GO2bank, and many carry the same complaints as its BBB profile. Users cite their direct deposits are often flagged as fraud, and they get locked out of their accounts, claim there are 45- to 90-day hold times for fund transfers, share poor customer service stories and cite month-long delivery times for cards.

The general consensus across review platforms and Reddit is that GO2bank’s main flaw is its customer service. GO2bank is a mobile account, so the lack of branches for in-person customer support is likely magnifying the customer service issues.

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

Terms and conditions apply. Cards issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Overdraft fees may apply. Click Go to Site to learn more.

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