May 10, 2022

GO2bank Review

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GO2bank claims to offer the best experience in mobile banking. But is it legit? Read on to find out.

With a purely digital experience, GO2bank wants to make banking easier than ever.

But is GO2bank worth making the switch from a traditional bank?

In this review, learn more about GO2bank, their services, fees, and how they compare to popular alternatives.

Note: GO2bank is often referred to as a neobank. A neobank is an entirely digital financial services provider that doesn't offer brick-and-mortar locations.

What is GO2bank?

GO2bank is a neobank founded in 2013 with the goal of providing the first banking experience designed for mobile use.

GO2bank customers manage their accounts online, but mostly through mobile apps (available on the Google Play Store and App Store).

With GO2bank, customers have access to many of the same services as traditional banks. GO2bank is designed to make banking simpler and more convenient, while still meeting customers' needs for security, reasonable interest rates, and better financial health.

GO2bank is also FDIC insured, and at time of writing, they've served more than 33 million customers.

Fun fact: GO2bank was founded by Green Dot, an American fintech and bank holding company based in Austin, Texas. Along with GO2bank, Green Dot provides the technology used to power the payment systems for Apple Pay Cash, Uber, and Intuit.

What Services Does GO2bank Offer?

Now that you have a general idea of who GO2bank is and what they do, let's take a deeper look at their various services.

GO2bank Deposit Account
GO2bank deposit accounts offer customers a place to store their money and earn interest. Here are some stand-out features:

  • Low $5 monthly fee (can be waived by setting up a direct deposit)
  • No minimum balance required to open an account
  • Generous interest rate[1]
  • Free access to in-network ATMs ($3 fee for out-of-network withdrawals)[2]
  • Up to 7% cash back when they purchase eGift Cards through the app[3]

GO2bank account holders will receive a chip-enabled Visa debit card that's accepted everywhere Visa cards are taken.

ASAP Direct Deposit
Like many neobanks, GO2bank offers early direct deposit, allowing their customers to receive their pay up to 2 days earlier or government benefits up to 4 days before benefits day.

Mobile App
The GO2bank mobile app is designed to make banking easy, convenient, and inexpensive.

You can make deposits, set up direct deposit, cash checks via photo, and transfer money from other bank accounts or from other debit cards. You can even deposit at nearly 90,000 retail stores nationwide, including 7-Eleven, CVS, Walmart, and more.

Credit Building
GO2bank offers several ways to build a healthy credit score, including the GO2bank Secured Visa Credit Card. Your credit limit, which starts at $100, is determined by your security deposit. Here's how it works:

  • GO2bank customers with direct deposits totaling $100 or more in the past 30 days won't be subject to a credit check
  • No annual fee
  • GO2bank sends monthly reports to the Equifax, Experian, and TransUnion credit bureaus to boost your credit

Their Credit Care Advantage service also offers a free Experian Boost to FICO credit scores, free access to your FICO score, dark web surveillance to help you manage identity theft, and access to Experian CreditLock.

Overdraft Protection
GO2bank offers overdraft protection up to $200 with some caveats:

  • Customers must qualify by obtaining a chip-enabled debit card and setting up direct deposit
  • Customers must opt into overdraft protection to benefit
  • Each overdraft-incurring charge will incur a $15 fee that can be waived by returning the account balance to $0 within 24 hours of authorization of the first charge that brings the account into a negative balance.[4]

More about GO2bank's overdraft protection: Coverage depends on your direct deposit setup. If you've ever received a direct deposit to your account, you'll receive $10 worth of overdraft protection. That amount increases to $100 if you've received at least two direct deposits in a 35-day period totaling at least $200. You only receive the full $200 worth of protection if your direct deposits in a 35-day period amount to $400 or more.

Fees to Look Out for

As you can see, you get quite a lot out of a GO2bank account. But how much will you pay for it? Here are the fees to know about before signing up for an account with GO2bank.[5]

  • Monthly Fee: GO2bank charges a $5 monthly fee that can be waived by setting up direct deposits to your account

  • Cash Deposit Fee: GO2bank charges up to $4.95 as a retail service fee when making deposits at local retailers

  • Transfer money from linked debit card: When you make transfers from a linked debit card, GO2bank will charge a 3% fee not less than $2.00

  • Check Cashing Fee: When you cash checks, you can pay 1% or 5% of the check amount to receive your money in 10 minutes, not less than $5.00. If you choose to receive your money in 10 days, the service is free.

  • Out-of-network ATM withdrawal: $3.00 per transaction

  • Out-of-network ATM balance inquiry: $0.50 per transaction

  • Foreign transaction fee: 3% of the transaction amount

How It Compares

How does GO2bank stand up to popular competitors? Let's take a look at them side by side and find out.

GO2bank vs Chime
Chime is another neobank offering many other same services that GO2bank does, including checking and savings accounts and credit building.

Both companies offer a debit card and mobile app to make banking easy, as well as free in-network ATM withdrawals. GO2bank users can get their direct deposits up to 2 days early (or up to four days early for government benefits), while Chime early deposit goes 2 days before the actual pay day.

The biggest difference between the two platforms is the fees. Depending on their needs, GO2bank users may incur several fees—such as the check cashing and debit card transfer fees—that Chime users aren't subject to.

GO2bank vs Varo
Customers looking to earn even higher rates on their savings than they'll find at GO2bank might want to take a look at Varo.

Varo users must receive more than $1,000 in direct deposits per qualifying period, maintain a daily balance below $5,000, and maintain banking and savings balances over $0.

Varo also offers a banking account similar to GO2bank's with fewer fees and similar features, cash advance, and credit builder accounts.

Bottom Line

GO2bank is a solid alternative to those looking for basic banking features elsewhere than a traditional bank. New customers might be confused by the lack of a distinction between checking and savings, but the upside is you'll earn the same interest rates on all your money.

Users able to receive regular direct deposits will benefit from low fees. However, compared to similar services, GO2bank actually charges more fees than usual.

Their high interest rate may make up for this for some users, but it's worth considering your options before deciding whether GO2bank is the right banking app for you.


  1. ^ "High-yield savings account": GO2bank, 2022.
  2. ^ GO2bank. What are the ATM fees and limits?, Retrieved 4/16/2022
  3. ^ GO2bank. How do I earn cash back?, Retrieved 4/16/2022
  4. ^ GO2bank. What fees are charged for overdraft protection?, Retrieved 4/16/2022
  5. ^ GO2bank. Simple fees, Retrieved 4/16/2022

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Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

Member FDIC

Chase Total Checking® - $200 Bonus

Expires 7/20/2022
  • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
  • Access to 16,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit
  • Chase Overdraft Assist℠: $0 overdraft fee when you overdraw your account $50 or less*

*We won't charge an overdraft fee if you are overdrawn $50 or less at the end of the business day. Chase may pay, for a $34 fee, overdraft transactions at our discretion based on your account history, deposits and transaction amount. If you've enrolled in Debit Card Coverage, everyday debit card purchases like groceries, may be approved at our discretion when you don't have enough money in your account.


Citi Priority Account - Up to $1,500 Cash Bonus

Expires 7/17/2022
  • Earn up to $1,500 cash bonus when you open a new account with required activities
  • Open a new eligible checking account in the Citi Priority Account during the offer period 1/5/22-7/17/22
  • Within 20 days of opening, deposit $50,000 in New-To Citibank funds between the new checking and savings accounts
  • Maintain a minimum balance of $50,000 in the checking account for an additional 60 consecutive calendar days from the 21st day
  • After all required activities are met, the cash bonus will be deposited to your account within 90 calendar days
CIT Bank
Member FDIC

Money Market Account - Get a Year of Amazon Prime

To get your year of Amazon Prime ($139 cash value):
  • Open a new Money Market account using promo code AMZN22.
  • Fund your account with $15,000 within 15 days.
  • Keep a minimum balance of $15,000 for 60 days.
After 60 days, if you've fulfilled the requirements, CIT will send you an email with your Prime membership code. Existing Amazon Prime members can use the one year of Amazon Prime to renew their membership for an additional year. Limit one Money Market promotion per account and per customer. Conditions apply. See advertiser website for details.
Discover Bank
Member FDIC

Discover Online Savings - $200 Cash Bonus

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account (online, by phone or Discover App). Enter Offer Code CY222 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 06/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 6/15/2022

Jeremy Harshman is a protector of art and writing at CreditDonkey, a bank comparison and reviews website. Write to Jeremy Harshman at Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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