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GO Bank Pros and Cons
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.
GoBank's Awesome Checking Account
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.
Robbery In Plain Site
I've had my gobank card for years now, without any issues..March 26, 2021 I pay my car insurance only once... suddenly there's a duplicate payment..so I immediately call gobank.the lady said don't worry after the one payment post to geico I would get my 185.40 back, which was the exact amount of the duplicate payment... I've been hung up on several times..lied to and geico sent me a receipt with the one payment not 2...I'm now on day 7 of not getting any resolution for gobanks mistake...during a pandemic no less..I'm very disappointed..and feel like gobank stole 185.40 and I don't feel like I will ever get it bank...when I would've had to manually input 370.80 for 2 payments to my insurance company...I'm so aggravated because my other bills that the 185 is suppose to go to can't get paid because gobank took my money...
Do Not Add Money To Go2 Bank
I went to see where this card came from and almost thought i had signed up for it. Instead, they had some fake email address attached to my name and last 4 digits. When i went to speak with the representatives they said i was picked in some marketing and i can throw the card away if i didnt want to use it. How can i report this company which obviously is fraud. How do yall have access to my social and address?? And why would i load a card with money i didnt sign an application or ask to have??? This is def a scam and it looks like a lot of people fell for it.
Data as of Q4 2020
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 22653 |
| Year Established | 1978 |
| Employees | 22 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.97% |
| Return on Equity - YTD | 19.71% |
| Annual Interest Income | $19.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $3.27B$1.60B |
| Loans | Q4 2020vs Q4 2019 | $33.3MM$36.0MM |
| Deposits | Q4 2020vs Q4 2019 | $2.95B$1.32B |
| Equity Capital | Q4 2020vs Q4 2019 | $269.1MM$217.7MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $961.00K$1.4MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $1.7MM$2.6MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |