GoBank Online Checking Account

GoBank's Online Checking account comes with:

  • waivable monthly fee,
  • budgeting and money management tools,
  • free access to a great ATM network.

securely on the bank's website

GoBank's online-only checking account is a decent checking account offer, suitable for those looking for a simple, easy-to-manage checking account that would allow them to bank whenever and wherever they want, without having to visit a physical branch to perform some basic banking tasks.
With several money management and budgeting features available on the GoBank app, such as Budget with Fortune Teller, and Money Vault, you'll be able to better consolidate your income and expenses, but also save up for some future purchases. 
Unlike some online banks that don't offer checks, GoBank lets you order paper checks, but for a fee. You can order a pack of 12 checks for $5.95.
Even though tere are multiple ways to fund your account, and transfer money to other people [usually for free], what we dislike about this online checking account is that it doesn't include any particular perks, and that it comes with a monthly fee. While it can be waived easily, if you receive $500 or more in direct deposits each month, there are many other online checking accounts that offer completely fee-free banking, with a plethora of money management and digital banking tools, in addition to the usual features of a checking account.
With GoBank, many extras or novel tools or options are payable, and, knowing there are lots of alternatives to this offer, we'd pass it, and look for another online checking account altogether.

Checking account details

Checking account fees

  • Monthly Fee
    $8.95 (can be waived)
  • APY
    0.00%
  • Minimum Deposit to Open
    $0
  • Out-of-Network ATM Transaction Fee
    $3
  • Out-of-Network ATM Withdrawal Fee
    $3
  • Overdraft Fee
    $0
  • Non-Sufficient Funds Fee
    $0
  • Foreign Transaction Fee
    3%

GoBank Online Checking Account FAQ

1. How do I open a GoBank Checking Account?

You can apply online, or by downloading the GoBank app for your iPhone, iPad or Android device, and start from there.

You can also get a GoBank starter kit at a participating retailer, and open your GoBank account with only $20.

You'll need to provide your name, address, date of birth , Social Security number, phone number, and other personal info. 

2. Why is my GoBank account said to be of "limited use"?

You'll get a limited-use account if you purchases your GoBank starter kit at a retailer, and GoBank wasn't able to verify your identity. With a limited-use account, the following features aren't available:

  • Money deposits.
  • Bill Payment.
  • Money Vault.
  • Person-to-Person transfers.
  • International debit card usage.

While you'll still be able to use your starter debit card for purchases and withdrawals, you won't be able to fund your account. 

3. How can I deposit cash or fund my GoBank Checking account?

One of the positive features of GoBank's checking account is that you have many cash deposit and account funding options, including:

  • Adding cash at the cash register of over 100,000 participating retailers (there's a fee of up to $4.95),
  • MoneyPak: for a flat fee of $5.95, you can add between $20 - $500.
  • Ingo® Money.
  • ASAP Direct Deposit™.
  • Free bank transfers.
  • Mobile check deposits.

 

4. What is ASAP Direct Deposit?

ASAP Direct Deposit is a GoBank's service enabling you to set up direct deposit free of charge, and receive your money up to 2 days in advance. When you open your GoBank Checking account, and set up direct deposit, you'll be automatically enrolled in their ASAP Direct Deposit.

You can set up direct deposit to receive your:

  • Payroll paychecks,
  • Monthly Social Security benefits,
  • Tax refunds,
  • State unemployment benefits (varies by state),
  • Government disability benefits – SSDI or workers compensation (varies by state),
  • Veterans benefits,
  • Supplemental Security Income,
  • Federal Civil Service (retirement/annuity),
  • Pensions.
5. How does Ingo Money work with GoBank?

You can cash your government checks, paychecks, and personal checks using the Ingo Money App, available for download in the App Store for iOS devices or Google Play for Android devices.

Once you've download the Ingo Money app, you'll need to create your Info Money profile, and link your GoBank account in the app. To cash your check, you simply need to take a photo of it by following the instructions, and there you go.

There's a standard fee of 2% for payroll and government checks with a pre-printed signature, and 5% for all other accepted checks, with a $5 minimum fee per check. You can, however, cash checks for free if you choose to get your money in 10 days.

6. Can I get my tax refund deposited to my GoBank account?

Yes, you can have your tax refund deposited to your GoBank account if you provide your account and routing number while filling out the tax form. Your routing and account number are available when you log in online or using the mobile app. You can also receive these numbers by phone, just text GetDD to 37267.

When completing your tax form, make sure the name on it matches the name on your GoBank card, and mark "checking" on your tax form.

You can set up an account alert, and GoBank will notify you once you've received your tax refund.

7. How does MoneyPak work?

With MoneyPak, you can send and receive money, reload your debit or prepaid card, and even fund a limited number of online accounts, such as TVG and TwinSpires.

In case you ever want to add cash to your GoBank card, you can purchase a MoneyPak for a flat fee of $5.95 at over thousands of retailers across the States, and then visit MoneyPak.com to create a secure login password to add money. While creating your password, you'll be asked to provide your Social Security Number, and date of birth, and you'll need to verify your mobile phone number, too.

You can add any amount between $20 and $500 to your GoBank debit card, even if it's not with you at the very moment.

8. What is Money Vault?

Money Vault is a feature letting you put money aside for any future expenses. It's basically a place where you can save money, but not earn interest on the sum kept within.

You can access funds in your Money Vault whenever you want, without any limits.

Note that if you have a limited-use account, this feature isn't available.

9. How do I set up a budget on GoBank?

GoBank lets you create a budget to see where your money goes. This feature is useful so you can get an overview of your spending, track your expenses, and better manage your finances.

GoBank's Budget requires you to enter your expenses (groceries, bills, etc.), which don't necessarily need to be 100% accurate - even estimates can do. Also, you'll be asked to add your income, whether it be your salary, government benefits, or whatever incoming funds you receive each month. 

You'll be able to compare, and see whether you spend more than you earn or whether there are things you should spend less on, all of which gives you further insight into your financial health and behavior.

Lastly, you can set up budget reminders to receive notifications about upcoming incomes and expenses, which is another great feature of this money management tool.

10. How does Fortune Teller work?

When you create a budget in the GoBank app, you'll see there's a Fortune Teller tool, another money management feature that lets you make estimates and plan for future purchases.

For example, based on your input expenses and incomes, Fortune Teller can predict how much you've left available to spend. So, if you want to get yourself a new piece of branded garment, you won't need to do the math - Fortune Teller will tell, just ask it.

Check out other GoBank checking account offers
Bank Monthly Service Charge Minimum Deposit to Open APY
GoBank Online Checking Account $8.95 (can be waived) $0 0.00%
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