GOBankingRates Rating




GOBankingRates Finest Financial institutions 2023 ratings and also positions are fairly identified by our
research/editorial group. Our racking up formula evaluates numerous aspects that vary from
group to group depending upon what customers desire from differing items and also
financial institutions.

Quick Take: GO2bank is the neobank department of Eco-friendly Dot, the common company of pre-paid debit cards. GO2bank supplies a key bank account and also an interest-bearing account packed with each other in one item. With straight down payment, you can prevent regular monthly upkeep costs, and also if you do all your financial online, you can prevent costs for cash money down payments and also withdrawals and also various other purchases. GO2bank is a terrific selection for individuals that do not yet have a financial institution.

  • Mobile Checking Account

  • Interest-bearing Accounts

  • Perks and also Rewards

  • Financial Experience

Just how did we determine this?


  • 4.50% APY on financial savings equilibriums approximately $5,000
  • Over-limit security
  • Easy-to-waive regular monthly upkeep costs
  • Free Atm machines across the country


  • Charges for cash money down payments, bank employee cash money withdrawals and also transfers from a connected debit card

GO2bank Summary

GO2bank is the electronic financial institution of Eco-friendly Dot, that made the pre-paid debit card prominent and also ended up being a method for those without a checking account to obtain repayments and also pay costs. GO2bank is an expansion of this innovation and also deals with those that might not have a brick-and-mortar financial institution.

GO2bank concentrates on internet banking, urging straight down payment, digital transfers and also atm machine withdrawals. Charges are billed for purchases like cash money down payments and also bank employee cash money withdrawals.

GO2bank additionally supplies a guaranteed bank card for those that intend to construct or reconstruct credit scores.

GOBankingRates has actually placed GO2bank amongst the most effective Neobanks of 2023.

Trick Attributes

Every financial institution has its very own particular advantages, and also it’s important to locate the ones that are essential to you. Below are several of the vital attributes you will certainly locate at GO2bank.

Mobile Checking Account

GO2bank supplies a key bank account that comes coupled with an interest-bearing account, instead of different monitoring and also financial savings items. The account has a $5 regular monthly upkeep charge, which is forgoed if you obtain qualified straight down payments of your pay-roll or federal government advantage repayments. There’s no minimal opening down payment demand if you open up an account online, yet if you open up an account by acquiring a GO2bank debit card at a shop, you’ll require to make an opening down payment of $20 to $500.

If you obtain qualified straight down payments, you can additionally decide in to overdraft account security of approximately $200.

Interest-bearing Accounts

Your GO2bank interest-bearing accounts is included approximately 5 subaccounts recognized on the system as safes, which maintain funds different from the equilibrium for your key bank account. You can make use of these safes to establish cash apart for particular monetary objectives and also gain rate of interest on cash assigned as financial savings. You’ll gain 4.50% APY on financial savings equilibriums approximately $5,000. There’s no minimal equilibrium demand to gain rate of interest.

GOBankingRates has actually placed GO2bank’s account amongst the most effective Online and also Neobank Financial Savings Accounts of 2023.

Perks and also Rewards

Below’s a consider several of the advantages and also rewards that feature the GO2bank account.

Over-limit Defense

You can choose overdraft account security if you obtain qualified straight down payments to your GO2bank account. If you make a withdrawal or transfer that surpasses your offered equilibrium by no greater than $200, GO2bank will certainly accept the deal. You will certainly have 24 hr to down payment or transfer funds to bring your account equilibrium a minimum of to $0 — or else, you might be billed a $15 overdraft account charge.

Practical Accessibility to Funds

GO2bank deals fee-free withdrawals at any one of the countless Atm machines within its across the country network. Furthermore, you can establish straight down payment to obtain your pay from your company approximately 2 days early or obtain your federal government advantages approximately 4 days early.

Benefits and also Incentives

When you acquire e-gift cards from any one of over 100 taking part sellers by means of the GO2bank mobile application, you’ll gain approximately 7% cash money back, which is generally attributed to your account within mins after a certifying acquisition is made. GO2bank additionally supplies a $50 recommendation bonus offer, which you and also a pal can both gain if you refer a pal that opens up a GO2bank account and also they obtain a certifying straight down payment. You can gain approximately $1,500 in recommendation incentives annually.

Financial Experience

Below are a couple of aspects you need to take into consideration when it concerns the financial experience GO2bank deals.

Mobile Financial Experience

GO2bank has a great deal of experience with electronic purchases and also with giving solutions to those that don’t have or make use of a standard financial institution. The GO2bank mobile financial application has a ranking of 4.8 out of 5 celebrities on the Application Shop and also 4.5 out of 5 celebrities on Google Play.

Guaranteed Bank Card

GO2bank supplies a guaranteed bank card to aid you construct your credit scores if you don’t have adequate credit scores to get a standard bank card. With a safeguarded card, you take down a down payment equivalent to your credit line, and after that you bill acquisitions and also pay them off as you would certainly a standard card. Having the down payment secures the card company — in this situation, GO2bank — and also making normal repayments aids your credit report.


The disadvantage to GO2bank’s experience is the costs — not simply the quantities, yet additionally the complication. You can open your account online absolutely free, or you can acquire a card at a retailer and also open your account in this way. The card will certainly cost you $2.50. If you intend to make a cash money down payment at a retail place, you’ll pay a service charge of approximately $4.95.

If you intend to move cash from a connected debit card, you’ll pay 3% of the quantity of the transfer (minimum of $2), yet transfers from a connected checking account are totally free. If you intend to pay a sign in the application, you’ll pay 1% or 5% ($5 minimum) of the quantity of the check, depending upon the sort of check, to obtain the cash immediately. If you can wait 10 days for the funds, there’s no charge. The internet site proclaims the openness of the costs, yet you’ll require to monitor when you obtain billed wherefore.

Similar Neobank Options

When you’re searching for a brand-new financial institution, it constantly aids to contrast your choices to ensure you’re obtaining the ideal financial institution for your certain demands. Below are a number of various other neobanks to take into consideration.


SoFi has both a bank account and also an interest-bearing account and also pays rate of interest on both. The bank account pays 2.50% APY, yet on cash assigned as financial savings, you’ll gain approximately 3.75% APY. SoFi additionally has borrowing and also investing items.


Revolut supplies bank account yet pays reduced rate of interest than GO2bank. Revolut additionally supplies financial investments, consisting of fx, and also allows clients negotiate in lots of international money.

Last Take

GO2bank is a great selection if you don’t presently have a financial institution or if your financial demands are rather uncomplicated. If you’re searching for a financial institution to obtain straight down payments and also move cash to pay costs, you intend to gain a great rate of interest, and also you’d like to construct or reconstruct your credit scores, GO2bank is a strong selection.

GO2bank Frequently Asked Question

Below are the response to several of one of the most often asked inquiries pertaining to GO2bank.

  • Is GO2bank an actual financial institution?
    • GO2bank is an FDIC-insured financial institution and also becomes part of Eco-friendly Dot (NYSE: GDOT), which is an economic innovation and also signed up financial institution holding business. Down payments in GO2bank are guaranteed approximately $250,000 per depositor, per account kind, equally as they remain in any type of various other FDIC-insured financial institution.
  • Why did I obtain a GO2bank card in the mail?
    • GO2bank has actually sent cards to previous clients and also those that chose in to obtain advertising interactions from among its relied on third-party companions. The card is an invite to open up an account at GO2bank, and also guidelines on just how to do so were consisted of with the card. No account was opened up, and also no credit scores check was done.
  • Can I obtain cash from GO2bank?
    • GO2bank is not a lending institution, so it does not use car financings, home mortgages, individual financings or various other borrowing items. GO2bank does use a guaranteed bank card meant to aid clients construct or reconstruct their credit scores.

Prices go through alter; unless or else kept in mind, prices are upgraded regularly. All various other details on accounts is precise since Dec. 31, 2022.

Content Note: This material is not supplied by any type of entity covered in this post. Any kind of viewpoints, evaluations, testimonials, scores or suggestions shared in this post are those of the writer alone and also have actually not been examined, accepted or otherwise supported by any type of entity called in this post.

To establish positions for the very best Neobanks, GOBankingRates considered the list below aspects: (1) regular monthly monitoring charge proportion (percent based upon the minimum to prevent the charge contrasted to the regular monthly charge itself); (2) financial savings APY; (3) products/services supplied (charge card and also financial investment solutions); (4) the ordinary mobile application score in between the Android and also Apple application shops; and also (5) variety of added advantages and also rewards distinct to neobanks. All aspects were after that racked up and also incorporated, with the most affordable rating being ideal. Element (1) was heavy 0.5 times, and also aspects (2) and also (5) were heavy 2 times. 

To establish positions for the very best Online Financial Institution and also Neobank Financial Savings Accounts, GOBankingRates considered the list below aspects from all on-line financial institutions and also neobanks: (1) overall possessions as sourced from the FDIC; (2) minimal down payment to open up an account; (3) regular monthly financial savings charge proportion (percent based upon the minimum to prevent the charge contrasted to the regular monthly charge itself); (4) minimal equilibrium required in account to gain APY; (5) financial savings APY; and also (6) the ordinary mobile application score in between the Android and also Apple application shops. All aspects were after that racked up and also incorporated, with the most affordable rating being ideal. Element (1) was heavy 0.5 times, element (4) was evaluated 1.5 times and also element (5) was heavy 3 times.  

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