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Green Dot’s GoBank Checking Account Launches Exclusively at Walmart
Full-Featured Checking Account Makes it Easier for Customers to Manage Everyday Finances
GoBank is a full-featured checking account available exclusively at Walmart (Photo: Business Wire)
“Many so-called ‘free’ checking accounts aren’t really free because they
have high overdraft fees. In fact, an independent study by
GoBank, a full-featured checking account, is offered as part of Walmart’s checking alternatives category.
“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
Green Dot believes customers will find the product particularly compelling noting the following features and functions:
Low, Fair and Simple Fees: GoBank’s pricing makes it one of the
most affordable checking accounts in the banking industry. There are
no minimum balance requirements or overdraft fees -- not even NSF fees
on bad checks. And with a qualifying direct deposit of just
$500per month, the monthly membership cost of $8.95is waived. GoBank also features an industry-leading network of 42,000 free ATMs.
- Easy Money Management: GoBank comes with a range of features that on-the-go, mobile-centric consumers need, including instant person-to-person payments, pay-anyone bill pay, innovative budgeting tools and more.
- Expanded Access: Neither a ChexSystems score nor credit bureau rating is used as the basis for determining customer eligibility. Instead, GoBank uses proprietary underwriting techniques to allow almost any consumer who passes ID verification to open an account.
Additional features and benefits of GoBank include:
Quick Account Set-Up: Setting up a GoBank account can take just
minutes after purchasing a starter kit for
$2.95. After set-up, customers can immediately use their starter debit MasterCardfor purchases until their personalized card arrives in the mail.
Transparent Fee Structure: GoBank’s
$8.95monthly cost is waived in any month with qualifying direct deposits totaling $500or more. Other fees include a 3 percent foreign transaction fee and out-of-network ATM fees (typically $2.50for an out-of-network ATM plus any fee the ATM owner may assess). The full overview can be found at GoBank.com/NoWorries.
- Early 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.
- Advice 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. “Fortune Teller” crosschecks the price of an item with a customer’s planned income and expenses, and if they can’t afford it, they’ll be advised in real-time to pass on the purchase.
- Send Money Instantly: Customers can instantly send money to each other at no charge via email or text message.
Money Vault: The Money Vault is an integrated bank
account, with deposits insured by the
FDIC, where customers can easily put money away. In real time, they can move money into the vault for safekeeping or out of the vault to be accessed with their debit MasterCard.
GoBank is the award-winning bank account available at select Walmart locations and made to be used on your mobile phone, with no overdraft or penalty fees ever. With GoBank, members have full access and control of their money from participating Walmart locations, as well as their iPhone, iPod Touch or Android device, and can withdraw cash from more than 42,000 fee-free ATMs in the U.S. People can sign up for a GoBank account by purchasing a GoBank starter kit at participating Walmart stores, and can manage their account on their mobile phone or computer. In March, GoBank was named a Gold Winner for 2013 PYMNTS Innovator Awards. For more information about GoBank, visit https://GoBank.com. You can also visit https://facebook.com/GoBank or https://twitter.com/GoBank.
GoBank is a brand and trademark of