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.

Overall Score






Customer Service


Mobile App

5-point scale (the higher, the better)

Pros and Cons

  • Interest on savings
  • Get paycheck up to 2 days early
  • Up to $200 overdraft coverage
  • $4.95 for cash deposits
  • Need direct deposit to waive monthly fee

Bottom Line

Solid mobile bank with interest and good benefits, but beware of some fees

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:

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  • No minimum balance required to open an account
  • [go2back.xs.featuredesc+savings][1]
  • Free access to thousands of Allpoint 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.

Early 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.

Up to $200 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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Jeremy Harshman is a creative assistant 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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