GO2bank Review for 2024

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Written By
Julija A.
July 01, 2023
Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

Backed by Green Dot, GO2bank is an online bank that offers its clients products such as digital banking accounts with a high savings rate and cash back rewards. Although it’s primarily designed for younger clients, GO2bank is an excellent solution for all tech-savvy customers who want to receive direct deposits from work and are interested in savings.

Our GO2bank review explores the bank’s main benefits and drawbacks, helping you decide if this is the right place for you.

1% (balances up to $5,000)


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Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Hybrid (checking + savings account)
$5, waived if you make at least one direct deposit per month
1% on balances up to $5,000
$0 for in-network ATMs; $3 for out-of-network ATMs
pros thumb up Strengths
  • Excellent online banking experience
  • Powerful apps for iOS and Android
  • No minimum opening deposit
  • No monthly fees if you meet the criteria
  • High yield on savings account
  • Zero costs for in-network ATM transactions
  • Great customer support
  • 7% cash back rewards
pros thumb up Weaknesses
  • Lack of physical branches
  • No additional financial products, like CDs and IRAs

GO2bank Overview 

GO2bank is an online-only bank backed by Green Dot, a fintech company that has been in operation since 1999. Green Dot is a proven and reputable company with over 33 million customers, owing to its partnership with other banks. 

The latest addition to the Green Dot network of banks, GO2bank is a neobank or digital bank that offers the same services as a traditional bank but without any physical branches. Like other neobanks, GO2bank is geared towards younger, tech-savvy consumers who are comfortable conducting all their banking activities online or through a mobile app.

It’s also an excellent option for all consumers looking for a convenient way to manage their bank accounts.

One of the best things about GO2bank is that it provides a combination of checking and savings accounts. It’s one account that has the advantages of both checking accounts and savings accounts. You can open a checking account without depositing any money and earn a 1% yield on your savings. 

Other benefits that come with a GO2bank account include faster deposits, cash back on gift cards, and access to a large network of ATMs. In addition, you can apply for a secured credit card that can help you boost your credit score. 

Our review explains the benefits and features of GO2bank. If you’re on the hunt for a mobile banking service, be sure to check out this online bank.

How Does GO2bank Compare to Other Similar Banks or Services?

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How Can You Sign up for GO2bank Services?

Like many other neobanks, GO2bank is an online-only banking service. Accordingly, you don’t need to visit a physical branch to open an account. The whole application procedure can be completed online, using your computer or any other device. 

Getting Started 

To begin the GO2bank sign-up procedure, go to GO2bank website and navigate to the “Open an account” button. Alternatively, you can download the mobile app for iOS or Android, depending on the type of smartphone you use. The app downloads easily, and the application process is the same as the one in the desktop version. It starts with submitting your email address to create an online account and ends when you’ve provided all your personal information. 

If you get approved for an account, your GO2bank debit card will arrive in 7-10 days. You’ll then need to activate your card and add money to the account before you can start using it. An additional debit card on the same account is not available.


Like other online banks, GO2bank has a set of criteria each customer must meet in order to use the bank’s services. That’s why checking these requirements is one of the first things to do before choosing a bank. Otherwise, you’ll end up losing valuable time if the bank rejects your application. 

GO2bank requires its customers to be at least 18 years old to qualify for its products. Other criteria you need to meet are the same ones that apply to all other banks. You need to provide your name, address, date of birth, and Social Security number. Additionally, the bank will ask for your driver’s license or any other document that proves your identity. 

GO2bank Fees

When it comes to GO2bank fees, a few things need to be mentioned. First of all, you don’t have to deposit anything to open an account. Secondly, there is a $5 monthly fee that can be waived if you have at least one deposit per month - either your monthly income or a government check. Due to fees of $0 for in-house ATMs and $0 for money transfers from a linked bank account, you’re getting an almost zero-fee checking account.

What we mean by almost free is that there are other fees associated with this account. For example, there is a 3% foreign transaction fee and up to $4.95 retail service fee on cash deposits. A GO2bank check deposit is either 1% or 5% for money in minutes or $0 for money in 10 days.

GO2bank Features and Services

In addition to the checking account, you can also enjoy many other services and features with GO2bank. 

Savings Account 

GO2bank offers a hybrid type of bank account that combines a checking account with savings account features. This means your checking account contains five savings account features called vaults. Each vault is for a specific type of saving, allowing you to transfer money on it from your GO2bank balance. You can organize your budget with these vaults to achieve your financial goals faster. 

According to GO2bank reviews from current clients, this is one of the most popular features that GO2bank offers. Not only does it allow you to save money, but it also earns 1% APY. This is more than you can earn with many other high-yield savings accounts for a balance of up to $5,000 in all vaults. GO2bank pays interest quarterly.  

Get Paid Earlier 

The next benefit you’ll enjoy with GO2bank is earlier payouts. Unlike traditional banks, with GO2bank you’ll receive direct deposits two days earlier. Moreover, if you receive checks from the government, you can expect funds four days earlier than with other banks. As mentioned, with regular monthly deposits, you don’t need to pay monthly maintenance fees. 

Overdraft Protection 

GO2bank overdraft protection is a service that helps you avoid bouncing checks or having your debit card declined due to insufficient funds. If there aren’t enough funds in your GO2bank checking account to cover a transaction, GO2bank automatically transfers money to cover the difference. Customers who opt for overdraft coverage must receive direct deposits. The coverage is between $10 and $200, depending on your monthly direct deposit.

Secured Credit Card 

Another great thing you can get at GO2bank is a secured credit card. It’s available without a credit check and comes with a zero annual fee. The credit card limit starts at $100, and you can use it everywhere Visa is accepted. In addition, this credit card is an excellent way to build your credit score. Thanks to all these benefits, the GO2bank card compares with some of the most popular credit cards

GO2bank Benefits and Perks 

GO2bank has many other benefits to offer its clients. Here are some of them: 

Flexible Deposit Options  

If you decide to open an account with GO2bank, you’ll be happy to hear that you can fund your account in several ways. There is a deposit cash option at nearly 90,000 stores, including Walmart, CVS Pharmacy, Walgreens, and Dollar General. You can also link your account to another bank account and debit card to transfer money. Other deposit options include online bill pay, mobile wallet, and check deposit from your mobile phone.  

Earn Cash Back 

GO2bank cash back rewards are a great way to save money on your everyday purchases. With these rewards, you can receive up to 7% cash back on your eligible purchases at participating stores.

Mobile App 

The GO2bank app is another benefit you’ll enjoy with this bank. Since GO2bank doesn’t have any brick-and-mortar branches, it makes up for it by offering top-notch online banking to its customers. The app is easy to download from the App Store or Google Play, depending on the device you use. 

Zero Fees for In-House ATMs

Finally, GO2bank has an extensive network of ATMs across the nation that you can locate easily with the bank’s native mobile app. The transactions are entirely free, which is a significant benefit if you use AMTs frequently. 

Remember that if you don’t use in-house ATMs, you will be charged transaction fees. However, customer reviews on GO2bank have corroborated that there are plenty of GO2bank ATMs around, and it’s easy to find one near you.

GO2bank Customer Support 

GO2bank customer support is always ready to help you with your banking needs. Whether you have a question about your account or need help with online banking, GO2bank agents are there to assist you. You can reach them via phone, email, or live chat. The support works seven days per week from 5 a.m. to 9 p.m. PST. 

For Whom Is GO2bank the Best Option? 

GO2bank is a great choice for anyone who’s seeking an easy and convenient way to manage their finances online. With GO2bank, you can easily keep track of your spending, set up budgeting goals, and get help when you need it. GO2bank has a savings account that’s connected with its checking account, allowing you to earn 1% APY on your savings up to $5,000. Additionally, this bank is a good option for customers who expect cash back rewards on their purchases. 

What Are the Drawbacks of GO2bank? 

There are a couple of potential drawbacks to GO2bank services. First, GO2bank may charge fees for certain transactions, such as withdrawals or out-of-network ATM transactions. Additionally, based on reviews by users, the bank’s downside is that it doesn’t offer the same level of customer service as a traditional bank because this is an online-only institution. 


What company owns GO2bank?


Go2Bank is a subsidiary of Green Dot Corporation, a publicly-traded financial technology company. Headquartered in Austin, Texas, the corporation provides reloadable prepaid debit cards, credit-builder products, and banking services.

What is a GO2bank debit card?


The GO2bank debit card is a reloadable prepaid Visa debit card that can be used everywhere Visa is accepted. As soon as you open an account at GO2bank, you’ll get its debit card and can apply for a credit card. As we already mentioned in our GO2bank review, this credit card is a good option for building your credit score.

Does GO2bank charge a monthly fee?


GO2bank charges a $5 monthly fee for its services. However, the fee can be waived if you have at least one direct deposit per month.