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Gobank by Greendot - online banking with debit card

Old Jun 28, 2013, 3:20 pm
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Last edit by: ChrisFlyer66
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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!
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Gobank by Greendot - online banking with debit card

Old Jun 27, 2013, 4:43 pm
  #766  
 
Join Date: Mar 2013
Posts: 809
Yea but I had less last month. About 12 or 13K I believe...
cashback is offline  
Old Jun 27, 2013, 5:02 pm
  #767  
 
Join Date: Mar 2013
Location: Down South, The Desert
Programs: Marriot Rewards, Southwest Rapid rewards, Emerald Club, Avis Preferred
Posts: 1,871
I just logged into my account. I've only done 4500 on this card this month. If that gets me shut down, they can go play in rush hour traffic.

I'm going to mix in a few more swipes, but I better be able to continue this activity.
TheDapperDon is offline  
Old Jun 27, 2013, 5:11 pm
  #768  
 
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 9,981
Do you think their target demographic is moving $4500 through here each month?

Of course, you could ask why they don't have monthly limits . . .
josephstern is offline  
Old Jun 27, 2013, 5:43 pm
  #769  
 
Join Date: Mar 2013
Location: Down South, The Desert
Programs: Marriot Rewards, Southwest Rapid rewards, Emerald Club, Avis Preferred
Posts: 1,871
Actually, the unbanked are some of the worst consumers. They could be spending money they don't have. As long as I'm not above their limits, they should leave me alone.
TheDapperDon is offline  
Old Jun 27, 2013, 6:13 pm
  #770  
 
Join Date: Dec 2012
Location: JFK
Programs: *$ Gold :)
Posts: 1,061
Originally Posted by josephstern
Do you think their target demographic is moving $4500 through here each month?

Of course, you could ask why they don't have monthly limits . . .
I watched their original 1 hour introduction video, dated back in april I think.
Their point is not to serve to poor, but stress on cell phone as a platform for banking. Kind of innovation. (And in reality their mobile app is more functional than their site).
Otherwise it's a normal bank, not a prepaid account...

Though I agree that average person likely won't move 5K+ in cash through the account month by month.
pier11 is offline  
Old Jun 27, 2013, 7:40 pm
  #771  
 
Join Date: May 2012
Posts: 150
Ahhh..The wife and I just got the "Hi there. You closed your account " email too. We both had the card for about 7 weeks and pushed 20K on one and about 15K on the other. We got what we wanted out of it (SWA Companion pass + achieved some sign-up bonuses). Oh well, it was fun while it lasted. We still have a balance so I guess we'll just "Bill Pay" it out.

Gobank=game over for us! Next.
frogdog51 is offline  
Old Jun 27, 2013, 8:37 pm
  #772  
 
Join Date: May 2013
Posts: 95
Just had one of my accounts shut down as well. Didn't receive an email (checked Spam filter too). Options to remove funds are as others have posted (Bill Pay to yourself, ATM or use Debit Card).

My one and only statement closed on June 10. $8500 loaded primarily via WM kiosk (plus initial debit card load from my bank and one other debit card load via app before they discontinued that option). Paid out about $4500 in Bill Pay.

Spouse's account is still open as we only recently started using it. Think I'll sit tight on that one for awhile.

I did just load both accounts today at WM Kiosk with no issues so the shut down happened sometime after noon today.

I really hate dealing with money orders...
Mihiker is offline  
Old Jun 27, 2013, 8:40 pm
  #773  
 
Join Date: Mar 2013
Posts: 809
Another one bites the dust.... If they are shutting people down for $8500, then this will soon be worthless...

And just for data points, my last statement had 14K on it. My next statement that closes on the 1st will have 21K. No email yet...

Last edited by cashback; Jun 27, 2013 at 8:46 pm
cashback is offline  
Old Jun 27, 2013, 8:53 pm
  #774  
 
Join Date: May 2013
Posts: 95
Originally Posted by cashback
Another one bites the dust.... If they are shutting people down for $8500, then this will soon be worthless...

And just for data points, my last statement had 14K on it. My next statement that closes on the 1st will have 21K. No email yet...
Have you tried logging into your account? That was the only notification I've received so far.
Mihiker is offline  
Old Jun 27, 2013, 8:55 pm
  #775  
 
Join Date: May 2012
Posts: 150
Geez, I got banned from ALL Green dot bank products. I never even gotta play around with their other products. I predict more and more people will be getting shut down over the coming days/weeks. The follow-up email I just got (at least he concluded with wishing me a nice day, lol):

We always monitor activity on GoBank, and we've noticed irregular activity on your account. This activity doesn't line up with the intended use of GoBank. For this reason, we've flagged your account to be closed. Please spend the remaining money on your account using your debit card, bill pay or by withdrawing money from an ATM. Once you've spent that money, your account will be fully closed. As of right now, you will not be able to make any additional deposits to your account. You are no longer eligible to open accounts with GoBank or Green Dot Bank.

Thanks and have nice day!
frogdog51 is offline  
Old Jun 27, 2013, 9:02 pm
  #776  
 
Join Date: Jun 2013
Posts: 1,060
AAHHH!!! No email or shutdown (after logging in), YET! However, after doing some 17K this month - it sounds like I will inevitably be locked out - oh well such is life.

I did not do another deposit today - so if I somehow survive - it will be because of you - but I severely doubt it!
raccah is offline  
Old Jun 27, 2013, 9:12 pm
  #777  
 
Join Date: Jun 2005
Location: Sweet Home Chicago
Programs: Hilton Gold, Marriott Gold
Posts: 646
I've been shut down as well. Had the card not even a month. Loaded $8k, never more than $2k a day and never two days in a row. Wrote two checks.

I'd venture to say that this is probably no better than a $3-4k a month path. I'd also guess they are not too pleased with a bunch of $100 debit loads.

This is why you diversify!
MDWCommuter is offline  
Old Jun 27, 2013, 9:14 pm
  #778  
 
Join Date: Mar 2013
Posts: 809
Originally Posted by Mihiker
Have you tried logging into your account? That was the only notification I've received so far.
Yes i just did. No indication of being shut down.
cashback is offline  
Old Jun 27, 2013, 9:19 pm
  #779  
 
Join Date: May 2013
Posts: 95
Originally Posted by Mihiker
Just had one of my accounts shut down as well. Didn't receive an email (checked Spam filter too). Options to remove funds are as others have posted (Bill Pay to yourself, ATM or use Debit Card).

My one and only statement closed on June 10. $8500 loaded primarily via WM kiosk (plus initial debit card load from my bank and one other debit card load via app before they discontinued that option). Paid out about $4500 in Bill Pay.

Spouse's account is still open as we only recently started using it. Think I'll sit tight on that one for awhile.

I did just load both accounts today at WM Kiosk with no issues so the shut down happened sometime after noon today.

I really hate dealing with money orders...
Just to add some additional data points:
  • Since statement closing on 6/10 I loaded an additional $8900 and made several additional bill pays (primarily credit card but also a few local utilities, never mailed a check to myself or any individual for that matter).
  • I used the debit card once for a small transaction.
  • I also set the monthly fee to $1 but hadn't been charged yet.
  • Spouse's (stil open for now) account has not yet cut a statement.
  • Loaded $4900 so far to Spouse's account.
  • Never used a MoneyPak to fund either account.
Mihiker is offline  
Old Jun 27, 2013, 10:36 pm
  #780  
 
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 9,981
I was wondering who was going to be the first to mention the monthly fee/tip thing.

I'm still OK and I have it at $0. Loaded it only three times in June.
josephstern is offline  

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