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Go2Bank review

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Enjoy early direct deposits, up to 7% cash back and up to 1% APY on savings with this mobile-first checking account.

finder.com’s rating: 3.7 / 5.0

★★★★★

The Go2Bank mobile bank account, formerly known as GoBank, comes with early direct deposits, up to 7% cash back on e-gift card purchases, access to a high-yield savings account that earns up to 1% interest and a string of other perks. It’s best for those who have at least $500 in monthly direct deposits — otherwise you’ll pay $5 a month.

$5 per month

Fee

N/A

APY

Details

APYN/A
Fee$5 per month
To waive the feeat least $500 in monthly direct deposits
Intro or bonus offerEarn a $15 tax refund reward when you activate a GO2bank debit card, then direct deposit your federal or state tax refund and two qualifying direct deposits of $500+ each by 6/30/21
ATMsover 19,000 in-network ATMs nationwide within the Allpoint ATM network
ATM transaction fee$0
Out-of-network ATM fee$3
Foreign transaction fee3%
Overdraft fee$15

Expert review

Katia Iervasi

Review by


Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

Go2Bank‘s checking account is best for those who want access to cash back, a high yield savings account and early direct deposits as they learn to manage money. You’ll need at least $500 in monthly direct deposits to avoid the monthly fee. But even without direct deposits, it’s cheaper than other second-chance checking accounts

Miscellaneous fees can quickly stack up if you’re traveling, making cash deposits or channeling less than $500 into your account a month via direct deposit. If you open a Go2Bank checking account, make sure you read the fine print so you know how to avoid or minimize these fees.

How do I open a Go2Bank account?

You used to be able to open a GoBank account at participating Walmart stores, but now the only way to open your account is online.

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Go2Bank website, click Open an account.
  3. Enter the requested personal and contact information, including your full name and Social Security number.
  4. Review the form and agree to the privacy policy. Click Continue.
  5. Provide any other requested identifying information and submit your application.

Once your application is approved, you can expect the debit card to arrive in the mail within seven business days.

Eligibility

To sign up for a checking account, you must be:

  • At least 18 years old
  • A US citizen or resident with a permanent home address

Required information

The application will ask for the following information:

  • Personal and contact details
  • Mailing address
  • Social Security number
  • A valid government-issued ID, such as a driver’s license

What are the benefits of a checking account with Go2Bank?

Go2Bank doesn’t run credit checks or use ChexSystems, so it’s a good choice for those with less-than-perfect credit. The account receives direct deposited paychecks up to two days early and government benefits up to four days early. It also has these benefits.
  • Waivable monthly fee. Go2Bank has a $5 monthly fee, but it’s waived when you have at least $500 in monthly direct deposits.
  • Cash back. Earn up to 7% cash back on e-gift cards purchased in the Go2Bank mobile app.
  • Optional savings account. Open Go2Bank‘s optional high yield savings account and earn 1% APY on balances up to $5,000 — that’s up to $50 in interest a year!
  • Accepts cash deposits. Unlike most mobile bank accounts, this one lets you deposit cash at over 90,000 Green Dot locations nationwide.
  • Build credit with optional credit card. Those with a Go2Bank account and eligible direct deposits can build their credit with the Go2Bank Secured credit card. There’s no credit check or annual fee, plus you can set your own credit limit as low as $100 to avoid overspending.

What should I look out for?

While the Go Bank checking account has its perks, there’s also the fine print:

  • Potential fees. You may pay up to $4.95 to deposit cash at certain retailers, $3 for non-network ATMs, and a 3% fee for international transactions. The ATM fee is slightly higher than average, but the other fees are on par with other banks.
  • Potential overdraft charge. If you opt in to the optional overdraft protection program, Go2Bank will cover you if you overdraw on your account by up to $200, but you’ll be charged a $15 fee if you don’t repay the money within 24 hours.

If you’re a frequent international traveler or make a lot of cash deposits, you’ll want to keep looking. As always, compare your options when choosing a checking account.

Go2Bank‘s ATM network and fees

Go2Bank offers fee-free withdrawals at 42,000 ATMs in retailers across the country. To find one close to you, use the map on the app or website.

You can withdraw up to $500 from ATMs each day. And if you dip your debit card into an out-of-network ATM, Go2Bank will charge a fee of $3. The ATM operator may charge additional fees. All foreign transactions are subject to a 3% fee, so if you withdraw cash from an international ATM, factor in that cost.

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How do I deposit and withdraw my money?

You can move money around in the following ways:

  • Direct Deposit. Deposit a portion of your paycheck or government-issued benefits into your checking account. To enroll, log in to your account and navigate to Deposits. Or, text GetDD to 37267 and Go2Bank will send you a message with your routing and account numbers.
  • Checks. Write paper or digital checks, and upload mobile checks you receive to the app. You can’t fund your account with a mobile deposit, so keep that in mind if you want to open an account in-store.
  • Cash deposits. You can submit a cash deposit at 100,000 participating retailers across the US, including 7-Eleven, Rite Aid, CVS, Walgreens and Walmart stores. This service costs up to $4.95, depending on the store.
  • Electronic transfers. Transfer funds from an external bank account to your Go2Bank checking account via ACH transfer.
  • ATM withdrawals. It’s free to use ATMs in Go2Bank‘s network. Otherwise, you’ll be charged a fee of $3 per transaction.

Frequently asked questions

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.

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