GoBank

Deposits held and insured by Bonneville Bank

Overview / Commentary
888-280-8260
3465 E Foothill Blvd
Pasadena, CA 91107
Deposits held and insured by Bonneville Bank

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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.

Great If You Like Paying Fees

Posted by: |

Fees are exorbitant. $8.95/month maintenance fee if you don't have $500 in direct deposits monthly. $5.95/cash deposit at ATMs and deposits are limited to $500/deposit. They don't have their own photo check deposit app, you must use Info app which charges its own exorbitant fees.

The App functions well but there is NO customer service. You will never talk to a live human being.

Overall a disappointing customer experience.

GoBank is better than expected!

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!

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Health
B+

Data as of Q4 2019

Data displayed below is for insuring bank: Bonneville Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #22653
Year Established1978
Employees21
Primary RegulatorFED
Profit Margin
Return on Assets - YTD2.99%
Return on Equity - YTD24.09%
Annual Interest Income$38.8MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.60B$1.49B
LoansQ4 2019vs Q4 2018$36.0MM$32.0MM
DepositsQ4 2019vs Q4 2018$1.32B$1.27B
Equity CapitalQ4 2019vs Q4 2018$217.7MM$183.2MM
Loan Loss AllowanceQ4 2019vs Q4 2018$1.4MM$1.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$2.6MM$1.7MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates

Sorry, we do not have rate data for GoBank.

Locations

GoBank is an Internet only bank and does not have branch locations. Its headquarters is located at 3465 E Foothill Blvd - Pasadena, CA 91107

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