Jan 10, 2016, 7:37 pm
Last edit by: radonc1
As of 9/18/21: WM loads are no longer free. WM will charge each load (no matter what the size) $3.74 in addition to the money being deposited into your Go Bank account.
GoBank fees and limits:
Cash deposits are limited to $2,500 per day and $3,000 per 30 days, subject to a maximum account balance of $50,000.
The monthly fee will accumulate if the account is dormant. You must call the phone number on the back to close the account.
5/29/19 - There may be a difference in which card gets free loads at WM. Getting the card online through GoBank.com sends out a Visa version. This card may not allow free loads at WM. Reports are that getting the card directly at WM will result in free loads. If anyone can confirm this, please do so.
-----------------------------
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!
tarcapone (open) old version opened October 2014 still alive February 2016. Load $1k/week ($4-$5K per month) nearly every Monday morning. Bill pay out large chunks to Credit cards. (Open) new version Opened November 2015 load $1K per week, but skipping a week each month. Bill pay out large chunks. My $1K/week is always one transaction (2x$500GC).
GoBank fees and limits:
Cash deposits are limited to $2,500 per day and $3,000 per 30 days, subject to a maximum account balance of $50,000.
- Sign up online & through the GoBank app FREE
- Sign up with a starter kit from participating retail stores Purchase a starter kit at a participating retail location ($2.95 or less) + start your account for as little as $20, up to $500
- Monthly Membership FREE in any month that you make qualifying direct deposits totaling at least $500. Otherwise, $8.95 per month. For more details on the Monthly Membership fee
Keep in mind the maximum number of swipes for payment when loading prepaid reloadables including GoBank is THREE. Swiping the prepaid card is considered as FIRST swipe so it leaves you with THREE remaining swipes so plan accordingly.
The monthly fee will accumulate if the account is dormant. You must call the phone number on the back to close the account.
5/29/19 - There may be a difference in which card gets free loads at WM. Getting the card online through GoBank.com sends out a Visa version. This card may not allow free loads at WM. Reports are that getting the card directly at WM will result in free loads. If anyone can confirm this, please do so.
-----------------------------
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!
tarcapone (open) old version opened October 2014 still alive February 2016. Load $1k/week ($4-$5K per month) nearly every Monday morning. Bill pay out large chunks to Credit cards. (Open) new version Opened November 2015 load $1K per week, but skipping a week each month. Bill pay out large chunks. My $1K/week is always one transaction (2x$500GC).
Gobank by Greendot - online banking with debit card(2016 onwards)
Sep 19, 2021, 7:10 am
#1501
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
GD now has 2 paths for prior customers (3 if one considers a shut down as a "path").
Customers who GD felt were legitimate banking customers got grandfathered to a new Go Bank chip card with no other alterations in T&Cs. I don't know what time_stamp's use was, but I know my activity, from DD from employer to bill pays, would have mimicked a low end checking customer. (No large deposits and immediate ACH withdrawals, etc.) It would be nice if timestamp chimed in on his/her activity.
OTOH, those whose banking behavior was, can we say, sketchy have been sent account transfer notices, telling them that their current account will be migrated to Go2, which was specifically designed to negate the very activities that made Go popular, such as fee free deposits and ACH withdrawals. GD has obeyed all the rules for doing this so that they have no liability for closing an account. They give you time (at least 6 weeks or more) to move the account, and notification. They have crossed the t's and dotted the i's.
However, I still think that it is foolish to abuse a terminal account in the last month. You don't want to get on GD's bad boy list because there was a DP above which said that GD bank runs other apps such as Apple pay. If you get banned at GD, it may have adverse effects on other banking associations you may wish to use in the future.
That is not worth the few thousand dollars you may accumulate now.
Sep 19, 2021, 7:52 am
#1502
Join Date: Apr 2021
Posts: 60
It does seem to becoming clearer.
GD now has 2 paths for prior customers (3 if one considers a shut down as a "path").
Customers who GD felt were legitimate banking customers got grandfathered to a new Go Bank chip card with no other alterations in T&Cs. I don't know what time_stamp's use was, but I know my activity, from DD from employer to bill pays, would have mimicked a low end checking customer. (No large deposits and immediate ACH withdrawals, etc.) It would be nice if timestamp chimed in on his/her activity.
OTOH, those whose banking behavior was, can we say, sketchy have been sent account transfer notices, telling them that their current account will be migrated to Go2, which was specifically designed to negate the very activities that made Go popular, such as fee free deposits and ACH withdrawals. GD has obeyed all the rules for doing this so that they have no liability for closing an account. They give you time (at least 6 weeks or more) to move the account, and notification. They have crossed the t's and dotted the i's.
However, I still think that it is foolish to abuse a terminal account in the last month. You don't want to get on GD's bad boy list because there was a DP above which said that GD bank runs other apps such as Apple pay. If you get banned at GD, it may have adverse effects on other banking associations you may wish to use in the future.
That is not worth the few thousand dollars you may accumulate now.
GD now has 2 paths for prior customers (3 if one considers a shut down as a "path").
Customers who GD felt were legitimate banking customers got grandfathered to a new Go Bank chip card with no other alterations in T&Cs. I don't know what time_stamp's use was, but I know my activity, from DD from employer to bill pays, would have mimicked a low end checking customer. (No large deposits and immediate ACH withdrawals, etc.) It would be nice if timestamp chimed in on his/her activity.
OTOH, those whose banking behavior was, can we say, sketchy have been sent account transfer notices, telling them that their current account will be migrated to Go2, which was specifically designed to negate the very activities that made Go popular, such as fee free deposits and ACH withdrawals. GD has obeyed all the rules for doing this so that they have no liability for closing an account. They give you time (at least 6 weeks or more) to move the account, and notification. They have crossed the t's and dotted the i's.
However, I still think that it is foolish to abuse a terminal account in the last month. You don't want to get on GD's bad boy list because there was a DP above which said that GD bank runs other apps such as Apple pay. If you get banned at GD, it may have adverse effects on other banking associations you may wish to use in the future.
That is not worth the few thousand dollars you may accumulate now.
Sep 19, 2021, 9:20 am
#1503
Join Date: Feb 2016
Location: Northeastern United States
Posts: 597
It does seem to becoming clearer.
GD now has 2 paths for prior customers (3 if one considers a shut down as a "path").
Customers who GD felt were legitimate banking customers got grandfathered to a new Go Bank chip card with no other alterations in T&Cs. I don't know what time_stamp's use was, but I know my activity, from DD from employer to bill pays, would have mimicked a low end checking customer. (No large deposits and immediate ACH withdrawals, etc.) It would be nice if timestamp chimed in on his/her activity.
OTOH, those whose banking behavior was, can we say, sketchy have been sent account transfer notices, telling them that their current account will be migrated to Go2, which was specifically designed to negate the very activities that made Go popular, such as fee free deposits and ACH withdrawals. GD has obeyed all the rules for doing this so that they have no liability for closing an account. They give you time (at least 6 weeks or more) to move the account, and notification. They have crossed the t's and dotted the i's.
However, I still think that it is foolish to abuse a terminal account in the last month. You don't want to get on GD's bad boy list because there was a DP above which said that GD bank runs other apps such as Apple pay. If you get banned at GD, it may have adverse effects on other banking associations you may wish to use in the future.
That is not worth the few thousand dollars you may accumulate now.
GD now has 2 paths for prior customers (3 if one considers a shut down as a "path").
Customers who GD felt were legitimate banking customers got grandfathered to a new Go Bank chip card with no other alterations in T&Cs. I don't know what time_stamp's use was, but I know my activity, from DD from employer to bill pays, would have mimicked a low end checking customer. (No large deposits and immediate ACH withdrawals, etc.) It would be nice if timestamp chimed in on his/her activity.
OTOH, those whose banking behavior was, can we say, sketchy have been sent account transfer notices, telling them that their current account will be migrated to Go2, which was specifically designed to negate the very activities that made Go popular, such as fee free deposits and ACH withdrawals. GD has obeyed all the rules for doing this so that they have no liability for closing an account. They give you time (at least 6 weeks or more) to move the account, and notification. They have crossed the t's and dotted the i's.
However, I still think that it is foolish to abuse a terminal account in the last month. You don't want to get on GD's bad boy list because there was a DP above which said that GD bank runs other apps such as Apple pay. If you get banned at GD, it may have adverse effects on other banking associations you may wish to use in the future.
That is not worth the few thousand dollars you may accumulate now.
Sep 19, 2021, 9:57 am
#1504
Join Date: Apr 2019
Posts: 251
Customers who GD felt were legitimate banking customers got grandfathered to a new Go Bank chip card with no other alterations in T&Cs. I don't know what time_stamp's use was, but I know my activity, from DD from employer to bill pays, would have mimicked a low end checking customer. (No large deposits and immediate ACH withdrawals, etc.) It would be nice if timestamp chimed in on his/her activity.
Still not able to activate the new card. I just get a message about technical difficulties. So I'm not sure GoBank is really going to let me keep my account, despite getting the new card.
Sep 19, 2021, 12:09 pm
#1505
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
https://www.flyertalk.com/forum/33576912-post3756.html
Furthermore, if the above post is true, then GD has the ability to separate out the Go bank deposits from the Go2 bank deposits and charge for one while allowing the other to be free.
The fact that very few received any notification that fees were going to be attached to their Go bank account for deposits leads me to believe that there will not be any deposit fees for those who keep the Go Bank card.
Anyone who was notified that their account was going to be migrated to Go2 means that those future accounts will be under the new T&Cs for Go2 bank.
If I had received a migration notice, I would not activate the new Go2 card since that would automatically close my existing Go account. I would use the old account until the last day and be certain to drain it prior to 10/31 unless I wanted to wait for a check from GD bank for the balance.
Sep 19, 2021, 12:43 pm
#1506
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
However, I still think that it is foolish to abuse a terminal account in the last month. You don't want to get on GD's bad boy list because there was a DP above which said that GD bank runs other apps such as Apple pay. If you get banned at GD, it may have adverse effects on other banking associations you may wish to use in the future.
That is not worth the few thousand dollars you may accumulate now.
You're obviously welcome to your opinion, but that doesn't take away from the fact your theories are just speculation at this point. If people here don't try new things or push the line to see what the limits are we'll never hear about new avenues of MS or know what kind of volume you can do without negative consequences. Not everyone is going to win in this game and that's OK. We need people to fail from time to time to give us a metric of what's possible.
As far as abusing GD, look at the following post from another member who was shut down by GD.
https://www.flyertalk.com/forum/33497241-post1386.html
It is good that people post their experiences with providers, since those experiences give us a window in how GD may behave.
And as always, as my support group states, take what you want from these threads and leave the rest.
Last edited by radonc1; Sep 19, 2021 at 5:08 pm Reason: wrong post link corrected
Sep 19, 2021, 9:10 pm
#1507
Join Date: Dec 2020
Programs: Delta Diamond (MM) | Hertz President's Circle
Posts: 158
To be completely transparent, I was also going hard on a GreenDot Unlimited card and Walmart MoneyCard at the same time, via the load via app barcode function. There's no telling what caused the actual ban but it did happen across all products.
GB was my longest-standing GD product and I was really methodical in how it was used, but about a month before shutdown, I had discovered you could push over the $3K monthly max. Definitely too many variables to know what caused it since I was working all three cards.
An interesting DP is that I had once went what the customer service rep called "end-to-end" too fast (basically making a group of deposits and then removing them), and the system flagged and froze all the accounts. This happened about a year ago on the GD Unlimited card but the freeze happened across all 3 cards/products. They were clear in stating that the 'undesirable activity' occurred on the GD Unlimited, however. So everything is definitely linked.
All said, I don't think GD products are going to be great avenues for MS moving forward — regardless if the 10/31 date is the immediate end or not...
-b.
GB was my longest-standing GD product and I was really methodical in how it was used, but about a month before shutdown, I had discovered you could push over the $3K monthly max. Definitely too many variables to know what caused it since I was working all three cards.
An interesting DP is that I had once went what the customer service rep called "end-to-end" too fast (basically making a group of deposits and then removing them), and the system flagged and froze all the accounts. This happened about a year ago on the GD Unlimited card but the freeze happened across all 3 cards/products. They were clear in stating that the 'undesirable activity' occurred on the GD Unlimited, however. So everything is definitely linked.
All said, I don't think GD products are going to be great avenues for MS moving forward — regardless if the 10/31 date is the immediate end or not...
-b.
[[i]SNIPPED...
As far as abusing GD, look at the following post from another member who was shut down by GD.
https://www.flyertalk.com/forum/33497241-post1386.html
It is good that people post their experiences with providers, since those experiences give us a window in how GD may behave.
As far as abusing GD, look at the following post from another member who was shut down by GD.
https://www.flyertalk.com/forum/33497241-post1386.html
It is good that people post their experiences with providers, since those experiences give us a window in how GD may behave.
Sep 20, 2021, 7:18 am
#1508
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
Just a DP
Went to WM cashier and loaded $200 each to both Go and BB Visa with Meta VGCs.
No fee to the Go card and of course none to the BB card.
I am going to activate my new chipped Go card and see if I screwed myself
but for me, it is worth the effort to discover if my speculations are on target.
Went to WM cashier and loaded $200 each to both Go and BB Visa with Meta VGCs.
No fee to the Go card and of course none to the BB card.
I am going to activate my new chipped Go card and see if I screwed myself
but for me, it is worth the effort to discover if my speculations are on target.
Sep 20, 2021, 9:54 am
#1509
Join Date: Sep 2014
Posts: 202
Just a DP
Went to WM cashier and loaded $200 each to both Go and BB Visa with Meta VGCs.
No fee to the Go card and of course none to the BB card.
I am going to activate my new chipped Go card and see if I screwed myself but for me, it is worth the effort to discover if my speculations are on target.
Went to WM cashier and loaded $200 each to both Go and BB Visa with Meta VGCs.
No fee to the Go card and of course none to the BB card.
I am going to activate my new chipped Go card and see if I screwed myself
but for me, it is worth the effort to discover if my speculations are on target.
Sep 20, 2021, 10:13 am
#1510
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
The new card just showed up, no different than if my regular bank updated their debit card.
The difference is that they are setting up an entirely new account number. But from all appearances, it's a Go Bank card now with a chip.
We'll find out, one way or the other.
Sep 20, 2021, 12:41 pm
#1511
Join Date: Jul 2005
Location: Chicago, IL
Programs: AA EP; WN CP;UA SILVER; MARRIOTT TITANIUM; HH DIAMOND; IHG PLAT; RADISSON PLAT; HYATT GLOBAL
Posts: 1,938
I have an old account (fee free) and received the GO2card. P2 has a newer account with $500 DD requirement and received a new Go card with chip? So what is the logic here? Both used mainly to drain $200 MC/VISA from stapes/ODOM
Sep 20, 2021, 3:53 pm
#1512
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
Here are some suggestions to look at.
-Was her DD from an employer versus yours being from some bank account?
-Did you make large deposits using GCs with almost immediate withdrawals either by ATM or ACH?
-Did you do ACH withdrawals and she didn't?
-Did she do billpays to ordinary accounts such as local companies or individuals for small amounts of money while yours were strictly to credit card companies for 4 digit sums of money?
It would be very insightful for all if you could do that analysis. Your situation is kind of unique and may give us a good idea on how GD is operating.
BTW, the new Go2 bank also has a DD requirement, but now it appears it has to be from an employer or you will be charged $4/month service fee.
-
Sep 20, 2021, 6:09 pm
#1513
Join Date: Feb 2016
Location: Northeastern United States
Posts: 597
What were you doing that she wasn't??
Here are some suggestions to look at.
-Was her DD from an employer versus yours being from some bank account?
-Did you make large deposits using GCs with almost immediate withdrawals either by ATM or ACH?
-Did you do ACH withdrawals and she didn't?
-Did she do billpays to ordinary accounts such as local companies or individuals for small amounts of money while yours were strictly to credit card companies for 4 digit sums of money?
It would be very insightful for all if you could do that analysis. Your situation is kind of unique and may give us a good idea on how GD is operating.
BTW, the new Go2 bank also has a DD requirement, but now it appears it has to be from an employer or you will be charged $4/month service fee.
-
Here are some suggestions to look at.
-Was her DD from an employer versus yours being from some bank account?
-Did you make large deposits using GCs with almost immediate withdrawals either by ATM or ACH?
-Did you do ACH withdrawals and she didn't?
-Did she do billpays to ordinary accounts such as local companies or individuals for small amounts of money while yours were strictly to credit card companies for 4 digit sums of money?
It would be very insightful for all if you could do that analysis. Your situation is kind of unique and may give us a good idea on how GD is operating.
BTW, the new Go2 bank also has a DD requirement, but now it appears it has to be from an employer or you will be charged $4/month service fee.
-
Sep 20, 2021, 6:33 pm
#1514
Join Date: Apr 2019
Posts: 251
Just to clarify, this works for Go2Bank? Because direct ACH worked for me for GoBank but not Go2Bank.
Sep 20, 2021, 6:56 pm
#1515
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,440
With that being said, it appears that the DD requirements for Go2 have been tightened, This is from Go2 web site.
How do I set up direct deposit?
"IMPORTANT: The name and Social Security number on file with your employer must match your GO2bank account exactly or we won’t be able to make your deposit.
1. Ask your employer’s payroll department for instructions on setting up direct deposit.
2. Then follow these steps to get your account and bank routing numbers:
a. Log in to your GO2bank account in the app or website.
b. Find “Direct deposit” under Move money. Copy your GO2bank direct deposit account number and bank routing number.
c. If your employer requests the account type, enter “checking.”
3. Follow the instructions provided by your employer to provide your GO2bank account and bank routing numbers and make your direct deposit selection.
Once setup is complete, direct deposits usually start showing up in your GO2bank account within 1-2 payroll cycles.
TIP: Ask your payroll department how long it will take them to set up your direct deposit. If it takes longer than expected to receive your first direct deposit, check back with your payroll department. GO2bank does not have any information about your direct deposit enrollment status."
When I tried to set up a DD from a bank account at my initial Go application 9 months ago, Go sent the DD back. I then had to use my company to set up the DD. It appears that the GD had tightened up their DD requirements prior to their instituting their new Go2 bank.
I am also certain that GD could determine where a DD was coming from, i.e. an employer versus a bank checking account.