I was nervous at first to join a bank with no physical address. However, some of the site's specifications made the transition a beneficial one. I really appreciate how there are no overdraft charges. As a teacher I only get paid once a month. One of my retirement accounts pulls money at the begininng of the month and I sometimes am a day early of my pay check. Go Bank has no overdraft charges, so I do not have to worry when this day lag in my pay check happens. Also being a teacher, I like not having to wait for my check to actually be deposit. There is only a max of two days with the direct deposit, so I get my funds faster than I did with Wells Fargo.
I have had GoBank checking account for over a year now and have had overall great experience. Even with it being a online-only bank, I find that it works better for me than brick & mortar banks. The convince of it all, way less fees for just about everything, events ease getting my replacement lost card, I reported it Friday morning and it was in my mailbox on Monday!
I wanted to open a different checking account because I was so tired of all the fees associated with my local bank. I found GoBank, read multiple positive reviews about the bank, and started an online checking account with them. While you do not get the personalized service many people expect from local banks, they have a huge network of ATMs that are absolutely free. I also love that I can still make cash deposits at Walmart. I have used their app to pay people directly too, and the process was simple and immediate. I ultimately closed my checking account at my local bank and now only use GoBank. I was a little hesitant at first to bank with an institution that is totally online, but I would definitely recommend them to anyone now.
I have used Gobank for about three years now. In those three years I have only had one instance that gave me any trouble. The instance in question was when a fraudulent charge appeared on my card out of nowhere. This charge was to a foreign website that I had no way of knowing about or even understanding. I called in with the bank and they were able to get me my money back after filling out a simple form. Their customer service was really helpful.
Other than that instance I have never had a problem with them. I am a fan of the no monthly fees and love that I can load up my account at any Walmart or 7-11 store. It is easy to transfer money between my savings account portion of the website and back to the checking in a matter of clicks. When you sign up you will receive an account number and routing number so this account can be used for any traditional banking needs.
I first heard of GoBank when I was looking for an alternative to a traditional checking account. My ex wife had wrote a bad check on our joint account.
The check had been reported to Chex Systems. So, as a result, I couldn't get a regular checking account. I needed a way to have my Social Security check direct deposited. A friend told me about Green Dot cards and GoBank. I signed up and am glad I did. I get free checking with no overdraft fees. I can deposit cash at any Walmart store. I can also use the card like a credit card to book travel, hotels, etc. Sometimes I can even get direct deposits a couple of days early. If you do have issues, though, it's hard to get a live person to talk to. Also, the person on the phone is usually in India and doesn't understand English well. Sometimes, I've had to be on the phone for over two hours to get something taken care of. But, overall they are pretty good.
It is a great online bank to be a customer with. I installed the banking app, where I could open accounts, order debit cards, and pay my bills too. And the best of all, the app has a transparent fee schedule.It means that I had to decide how much I want to pay each month between $0 and $9. The voluntary monthly fee shows the creators are pretty sure you're going to love them and find it worth your money. Money transfers are really fast. The only problem with this bank is I wanted to earn higher interest rates to establish my savings for which purpose this bank didn't seem the right option. Another convenient thing I found about this bank is that I could go at any nearby Walmart and deposit money into my account without any fee or extra charge. This bank was also proved convenient for me because I send money every month out of country for which this bank proved to be great. It only takes a couple of minutes to send money anywhere in the world.
On a few sites like this the reviews are good but on most sites gobank reviews are not. They are a terrible company with no physical address and they like to lock accounts and block you from calling. They say things like "we've noticed suspicious activity on your account as a result we have locked your account." Leaving you with no specific details and no access to your money. It's been 10 days and I've got at least 3more to go maybe more and I have literally no money. I'm barely surviving with no food. And I've still got to wait. Customer service gives me a recorded message. They are an awful company and I suspect fraud because they don't say what activity they noticed never checked with me to see if it was me and are holding my money I have filed a complaint with the fdic BBB and will file more today. They have my money and the money of many and we can't hleven contact them. I will persue this year after year till everyone is warned about gobank. Use at own risk. Look around the internet read ALL reviews for this bank. They are horrible.
|FDIC Certificate #||22653|
|Return on Assets - YTD||2.25%|
|Return on Equity - YTD||23.17%|
|Annual Interest Income||$11.4MM|
|Assets and Liabilities|
|Assets||Q2 2018vs Q2 2017||$1.54B$878.7MM|
|Loans||Q2 2018vs Q2 2017||$21.6MM$8.8MM|
|Deposits||Q2 2018vs Q2 2017||$1.35B$764.8MM|
|Equity Capital||Q2 2018vs Q2 2017||$165.2MM$98.3MM|
|Loan Loss Allowance||Q2 2018vs Q2 2017||$1.2MM$318.00K|
|Unbacked Noncurrent Loans||Q2 2018vs Q2 2017||$1.4MM$551.00K|
|Real Estate Owned||Q2 2018vs Q2 2017||$0$0|
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GoBank is an Internet only bank and does not have branch locations. Its headquarters is located at 3465 E Foothill Blvd - Pasadena, CA 91107