Go Back  FlyerTalk Forums > Miles&Points > Credit, Debit and Prepaid Card Programs > Manufactured Spending
Reload this Page >

Gobank by Greendot - online banking with debit card

Gobank by Greendot - online banking with debit card

    Hide Wikipost
Old Jan 10, 16, 11:37 am   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: ChrisFlyer66
Wiki Link
Moderator note: A new thread for 2016 is here: http://www.flyertalk.com/forum/manuf...rd-2016-a.html


Do NOT let Rite-Aid scan the GoBank barcode. You will be charged, but your funds won't load. It is a PIA to get your funds back.

Want to stay active? Be sure to only load when your balance is at or close to 0. Continuing to load when you have funds in there seems to be a no no. Swipes are recommended, but there are folks active that don't swipe.

Lots of $200 loads can get you shutdown. GoBank does not like paying load fees on low denomination loads. Two $500 loads is better than five $200 loads.

Shut down reports:

Please list your load/spend/billpay details (in a single statement/lifetime?) e.g.,
type of load, number of loads, denomination of your gc or mp, amount of your billpay, any actual swipe/dd?

lad2 (closed) - May: $2.7K 9 loads 5DDs - June: $5.5K 5 loads 6DDs - July: $4.6K 6 loads 1DD - August $9.9K 19 loads 1DD - no swipes

TheDapperDon (open) June $4.5k 5 loads. All GCs. 1 swipe. Everything else BP to CC. 1500 most loaded in one day .July - $3489 5 loads. All GCs. Several swipes. No load until below $20 or so remaining.

raghu455 (closed) May $2k 4 loads, june $7k all GCs. All BP to CC.

drdrew450 (closed) 17K in loads, unloaded all through bill pay, less than a month

cuebert (closed) $4.5k in 9 MP loads, BP out. That was fast.

sgideons (closed) May $7k 17 loads, june $17k 27 loads, july $5k 6 loads, september $3.5k 4 loads. Unloaded 90% ACH pull, 5% PP to self, 5% bill pay tool. Closed on September statement date.

MDWCommuter (closed): June only, $8k in 60 loads, all GC. $2k is most loaded in one day. Wrote 2 BP to CC checks, no ATM, no MP loads, no ACH pull, no DD, always carried at least a $1k balance

ArtemK (closed): 1st month - 5/21 - 6/21 - loaded $6,700, 6/21 - 6/30 - $4K loaded, all via GCs. Unloaded all via BP to Citi and Chase. No ATM, no MP loads, no ACH pull, no DD, no swipes.

rdover1 (Closed): 1st month - $23.6k loaded (WM GC), ~$1k spend, rest bill pay (mostly to CC)
rdover1 2nd card (closed): Closed mid cycle, survived 1st month. No bill pay, only MO. Never loaded over ~$4k. Total activity ~$12k.

T3pleShot (closed): 7k in loads at WMT, 10 loads, mostly $500, some $200, $4k billpay to CC, 5 swipes totaling about $25.

ctbarron (open): Month1 - $3.8k loaded, all bill pay out, 1 swipe; Month2 - $3.7k loaded, all bill pay out, few swipes and an ATM WD; Month3 - $4.2k loaded, all bill pay out, few swipes and an ATM WD. Zero membership fee, usually a balance of under $150.

americanindian (closed)- closed after 3 months today. had about 7.5k deposit each month, with lots of small value(<$20) purchases each month. liquidated mostly using bill pay.

rodsren (closed)- the dapperdon warned me. I was closed today after less than 5,500 or loaaing in less than 3 weeks (was going to try to keep it to 7,500 - 10,000 but didn't luck out.)

binnycode (closed, re-opened) - 7x $200 loads + 1x $700 load + 3x $500 over 2 days got me shut down. Called CSR and they re-opened my account, letting me know that "direct deposit would reduce my number of trips to walmart" lol!
Print Wikipost

Old Sep 12, 13, 10:38 am
  #1546  
 
Join Date: Aug 2013
Posts: 164
alive after first statement.

got the card, loaded $1500, let it simmer for two weeks. unloaded all but $20 from free ATMs. have loaded up $500 four more times and unloaded via ATM in between each time. I throw them a $2 swipe for a drink at -4 when I'm there to use their ATM. I also decided to allow them a $1 monthly fee. It's nice to give my bank a break on the excessive #s of MOs and just hand them gigantic stacks of $20s.

I plan to continue this pattern and not ever load more than $5k in a month. I just don't have the cards available to spread my MS of VGCs enough.

The free ATMs are really the best part of this card. there's one at my local CVS (super convenient) and one at -4 right next to my subdivision.
busymike is offline  
Old Sep 12, 13, 3:11 pm
  #1547  
 
Join Date: Aug 2011
Location: SFO/SJC
Programs: MR,UR, UA, BA, AA, Hotels
Posts: 579
Originally Posted by BillyBaloney View Post
I know this sounds too simple but - to those who were closed down were you gracious enough to allow GB a monthly fee? If so, how much were you allowing them to take?

There seems to be very little discussion about paying customers vs. free rides, and if it carries any weight.
For my 2nd card I tried this approach and paid $9/month. Got shutdown in 1 month. Details in the wiki above.
rdover1 is offline  
Old Sep 12, 13, 4:52 pm
  #1548  
 
Join Date: Dec 2012
Location: JFK
Programs: *$ Gold :)
Posts: 1,061
Originally Posted by busymike View Post
unloaded all ... from free ATMs.
May be that's the approach.
It looks like ... antimoneylaundering
Because the end result is not assets on legit account, but dirty cash they are not responsible for.
pier11 is offline  
Old Sep 12, 13, 4:53 pm
  #1549  
 
Join Date: Nov 2011
Location: SFO/SJC
Programs: whatever comes with CCs
Posts: 1,058
I was alive for ~4 months. I deluded myself into thinking that minimizing number of loads and keeping loads under 5k/mo, including swipes, some Direct deposit etc. would keep me alive.

So far all we really know is that GB will shut down people doing MS. It's a matter of time. The only thing we know for certain is that you can load large amounts (2500 per day) and you will have no problem withdrawing those amounts even after getting shut down. So I think I should have taken the advice: go hard at it and load a lot.

GB has a lot of BS about fraudulent activity but essentially they are a proactive business that doesn't like unprofitable customers.
mintcilantro is offline  
Old Sep 12, 13, 5:26 pm
  #1550  
Original Poster
 
Join Date: Apr 2011
Programs: UA Gold, AA Gold, Hyatt Plat, SPG Gold, Marriott Plat, Hilton Gold, Hertz Pres Circle, etc etc
Posts: 380
SO's acct shut down. SO had been shut down earlier by GD but somehow managed to keep GB open till this past week. History: Loaded $2.5k ttl in June, bill pay out 1-2 later. Loaded $6k ttl in July ($1-2k at a time, billpay out 1-2 weeks later, reload, never more than 2k balance at one time). No activity in Aug or early Sept as was traveling a lot.
Advice to others still open: as others have said; hammer this puppy as shut down coming any way, might as well get as much done as can in a month or two before get shut down vs trying to do small each month to keep it alive.
greek2me is offline  
Old Sep 12, 13, 6:43 pm
  #1551  
 
Join Date: May 2013
Location: Atlanta
Posts: 116
Mine was shut down last week. Going hard with the other one, in time for the last batches of CGC.
Deallover is offline  
Old Sep 12, 13, 11:52 pm
  #1552  
 
Join Date: Jun 2012
Location: SFO
Posts: 209
ACH payment received but not deducted from GB balance

I did an ACH pull to pay off a Citi card on 9/4 and the payment posted but I still haven't seen this reflected in my GB account. I understand if it takes a few days but it's been over a week. Anyone seen this happen before? Should I be worried?
glynot is offline  
Old Sep 14, 13, 8:30 pm
  #1553  
 
Join Date: Feb 2013
Location: ORD
Programs: UA Silver, HH Gold, SPG Gold, Hyatt Plat...basically all the status you can get for free...
Posts: 63
Gobank by Greendot - online banking with debit card

Another datapoint on closures. I attempted to load at Walmart today and was told the card was declined by issuer; as feared, i logged in and was told the account had been closed.

I opened the account in early July, and loaded of $13,150 between 7/24 and last week. All loads were at Walmart; usually $1,500 or less at a time about once a week. No retail debit swipes. Voluntarily paid membership fee of $1 in Aug and Sept. (sucker, I know). Now paying myself out for the remaining funds. It's been real, GoBank!
bsbybms is offline  
Old Sep 14, 13, 8:34 pm
  #1554  
 
Join Date: May 1999
Posts: 1,627
I wonder why people don't buy a few shares of GDOT stock. Then if your account is closed out, call and ask what rules you broke and why they would close out the account of an owner, then ask to be transferred to Investor Relations.
starflyer is offline  
Old Sep 15, 13, 3:54 am
  #1555  
 
Join Date: Sep 2013
Posts: 829
I don't like the trend at all.

I have the GB account and card, but I think I am not going to bother.

It has $1 balance.

GB can stick it..
MaineCoon is offline  
Old Sep 15, 13, 8:41 am
  #1556  
 
Join Date: Feb 2013
Location: PHL
Programs: UA, DL, AA, ANA
Posts: 226
My account has stayed alive since May doing ~2.5k per month at the WM kiosk with numerous small vending machine swipes and liquidating through BP. I recently selected the 1$ per month fee to see if that helps keep me alive.
vinyalwhl is offline  
Old Sep 15, 13, 2:22 pm
  #1557  
 
Join Date: Dec 2009
Location: BOS
Programs: AA, SPG, UA, CSP
Posts: 338
I have been using the Chase GCs till now to fund this - never really bought GCs other then those. Will these (http://millionmilesecrets.com/wp-con...Number-004.jpg) that you get in CVS work? Just checking to see what other GCs do people use to fund the GB.
arsenalman is offline  
Old Sep 15, 13, 8:06 pm
  #1558  
 
Join Date: Sep 2012
Location: IAD/DCA
Programs: HH Diamond, VS Silver, SPG Gold
Posts: 978
Originally Posted by arsenalman View Post
I have been using the Chase GCs till now to fund this - never really bought GCs other then those. Will these (http://millionmilesecrets.com/wp-con...Number-004.jpg) that you get in CVS work? Just checking to see what other GCs do people use to fund the GB.
Any you can set a PIN on will work. Some are fussier - see the wiki in the gift cards with PIN thread. I personally get a lot of Metabank Visas.
ctbarron is offline  
Old Sep 15, 13, 8:07 pm
  #1559  
 
Join Date: Sep 2012
Location: IAD/DCA
Programs: HH Diamond, VS Silver, SPG Gold
Posts: 978
Originally Posted by starflyer View Post
I wonder why people don't buy a few shares of GDOT stock. Then if your account is closed out, call and ask what rules you broke and why they would close out the account of an owner, then ask to be transferred to Investor Relations.
This is one of the funnier ideas I've read.
ctbarron is offline  
Old Sep 15, 13, 9:03 pm
  #1560  
 
Join Date: Sep 2013
Posts: 15
If you'd like an alternative to leaving postings here about GoBank. Go to gobanksucks.com and leave your experience. Yes, I realize, it won't change any of their practices, won't get anyone's account back, but it's always good to rant, and it was worth the $8 bucks to get.
katana78 is offline  

Thread Tools
Search this Thread
Search Engine: