GO2bank Review: Checking and Savings

Green Dot’s GO2bank provides mobile checking and a high savings rate, but it has a monthly fee that many similar accounts don’t charge.
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Written by Spencer Tierney
Senior Writer
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Edited by Sara Clarke
Assistant Assigning Editor
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    Overall institution rating


    NerdWallet rating 
    The bottom line:

    GO2bank is a neobank by Green Dot, a financial technology company with the rare benefit of having a banking license to provide federal deposit insurance. Like the firm’s first banking enterprise, GoBank, GO2bank has a checking account with separate savings subaccounts called vaults. The mobile-focused bank’s biggest perks are the high savings rate (on up to $5,000) and the ability to deposit cash at certain retailers. However, there are other neobanks where accounts earn interest on higher savings balances, allow cash deposits and have no monthly fee.

    In addition to the monthly fee, GO2bank has some costs and limits that may be deal breakers, including the inability to transfer money out of the account, which is a standard feature at many banks.

    You can pick up a GO2bank Visa debit card at retailers such as Walmart and activate it online, or open an account directly on the bank’s website. Most services are online. The bank also provides a secured credit card to build credit, with no credit check.

    Best for: Digital banking customers who plan to deposit cash, receive direct deposits from an employer or as government benefits, and save up to $5,000 — all without needing to transfer money out of the account.


    • Large, free, nationwide ATM network.
    • Savings subaccounts to manage goals.


    • Monthly fees (though they are avoidable).
    • Cannot transfer money to another bank account.
    • Limit on amount that earns high savings rate.


    NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.