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The full overview can be found at /NoWorries.Įarly Paycheck Availability: GoBank also offers early payroll direct deposit so customers can get their paycheck deposited earlier than their normal payday if their employer notifies GoBank of a deposit in advance.Īdvice on Spending from “Fortune Teller” feature: “Remember that time you won the lottery? I don’t either.” This is a response a customer might see from GoBank’s “Fortune Teller,” if they try to spend beyond their budget.
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Other fees include a 3% foreign transaction fee and out-of-network ATM fees (typically $2.50 for an out-of-network ATM plus any fee the ATM owner may assess). Transparent Fee Structure: GoBank’s $8.95 monthly cost is waived in any month with qualifying direct deposits totaling $500 or more. After set-up, customers can immediately use their starter debit MasterCard for purchases until their personalized card arrives in the mail. Quick Account Set-Up: Setting up a GoBank account can take just minutes after purchasing a starter kit for $2.95.
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Instead, GoBank uses proprietary underwriting techniques to allow almost any consumer who passes ID verification to open an account.Īdditional features and benefits of GoBank include: Neither a ChexSystems score nor credit bureau rating is used as the basis for determining customer eligibility. GoBank comes with a range of features that include instant person-to-person payments, pay-anyone bill pay and innovative budgeting tools.

When our customers have options, they win.” GoBank gives our customers yet another option as to how they manage their money. “Adding the GoBank checking account to our shelves means our customers will have exclusive access to one of the most affordable, inclusive and easy-to-use checking accounts in the industry. “Walmart customers want easier ways to manage their everyday finances and increasingly feel they just aren’t getting value from traditional banking because of high fees,” said Daniel Eckert, SVP of services for Walmart U.S. GoBank, a full-featured checking account, is offered as part of Walmart’s checking alternatives category. GoBank is breaking down the barriers to traditional banking and brings the benefits of a FDIC-insured checking account that’s loaded with features to a large segment of Americans.”

“No other checking account makes it this easy and affordable to manage your everyday finances.

In fact, an independent study by Bretton Woods estimates that consumers pay approximately $218 to $314 per year for a basic checking account,” said Steve Streit, founder and CEO of Green Dot Corporation and chairman of Green Dot Bank. “Many so-called ‘free’ checking accounts aren’t really free because they have high overdraft fees. GoBank, which will be available nationwide by the end of October, doesn’t charge overdraft fees or minimum balance fees and waives the monthly membership cost of $8.95 with qualifying direct deposits of $500 a month. The checking account is linked to MasterCard debit cards. Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.
