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.
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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)
Oct 29, 2016, 1:31 pm
#256
Join Date: Sep 2010
Posts: 165
New to GoBank here. I'm trying to diversify a bit away from just MOs for managing min spend criteria @ < $3K a month. I had a question about the wiki comment:
1) When loading at close to zero, that's more than one $500 GC right? As in, as long as the balance is near zero, I can load 2 or 3 GCs at once?
2) What's meant by "swipes are recommended". What's the alternative?
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.
2) What's meant by "swipes are recommended". What's the alternative?
Oct 29, 2016, 2:06 pm
#257
Join Date: Oct 2015
Location: HNL
Posts: 148
New to GoBank here. I'm trying to diversify a bit away from just MOs for managing min spend criteria @ < $3K a month. I had a question about the wiki comment:
1) When loading at close to zero, that's more than one $500 GC right? As in, as long as the balance is near zero, I can load 2 or 3 GCs at once?
2) What's meant by "swipes are recommended". What's the alternative?
1) When loading at close to zero, that's more than one $500 GC right? As in, as long as the balance is near zero, I can load 2 or 3 GCs at once?
2) What's meant by "swipes are recommended". What's the alternative?
I don't really believe the above advice is relevant. I kept seeing advice to keep zero balance on the card, but I haven't drained my account to zero, maybe ever. And one other DP from somewhere in this thread recommended treating your GB like a normal checking account, which is what it's meant to be, and really makes sense if someone was reviewing your account for shutdown.
I've had my GB for maybe a year, I DD from ally every month to avoid monthly fee, and load maybe 500-800 most weeks (once a week) at walmart, and usually BP one, maybe two cards once a month. The most I've ever BPed is like $2700, but typically less than $2000. But i still always have a balance on the card, and i have money building on the card all month. I've also had a couple months where i did very little on the card, just DD and small billpay. Obviously the volume you can put through GB is pretty small, but it's convenient and useful for me at these levels. I would still pay mind to the shutdown numbers in the wiki, but this idea that only loading on a $0 balance to avoid shutdown is nonsense. If anything I'd say that's a red flag that you're abusing the card. Just my $0.02
Nov 1, 2016, 5:36 am
#260
Join Date: Apr 2014
Posts: 1,273
I don't really believe the above advice is relevant. I kept seeing advice to keep zero balance on the card, but I haven't drained my account to zero, maybe ever. And one other DP from somewhere in this thread recommended treating your GB like a normal checking account, which is what it's meant to be, and really makes sense if someone was reviewing your account for shutdown.
I've had my GB for maybe a year, I DD from ally every month to avoid monthly fee, and load maybe 500-800 most weeks (once a week) at walmart, and usually BP one, maybe two cards once a month. The most I've ever BPed is like $2700, but typically less than $2000. But i still always have a balance on the card, and i have money building on the card all month. I've also had a couple months where i did very little on the card, just DD and small billpay. Obviously the volume you can put through GB is pretty small, but it's convenient and useful for me at these levels. I would still pay mind to the shutdown numbers in the wiki, but this idea that only loading on a $0 balance to avoid shutdown is nonsense. If anything I'd say that's a red flag that you're abusing the card. Just my $0.02
I've had my GB for maybe a year, I DD from ally every month to avoid monthly fee, and load maybe 500-800 most weeks (once a week) at walmart, and usually BP one, maybe two cards once a month. The most I've ever BPed is like $2700, but typically less than $2000. But i still always have a balance on the card, and i have money building on the card all month. I've also had a couple months where i did very little on the card, just DD and small billpay. Obviously the volume you can put through GB is pretty small, but it's convenient and useful for me at these levels. I would still pay mind to the shutdown numbers in the wiki, but this idea that only loading on a $0 balance to avoid shutdown is nonsense. If anything I'd say that's a red flag that you're abusing the card. Just my $0.02
My usage is similar and there's always a little slush in my account--only as much as my risk tolerance will allow, naturally.
Nov 4, 2016, 11:58 pm
#261
Join Date: Oct 2015
Programs: MileagePLUS, AAdvantage, TrueBlue
Posts: 54
Very little in the Wiki is worth reading
New to GoBank here. I'm trying to diversify a bit away from just MOs for managing min spend criteria @ < $3K a month. I had a question about the wiki comment:
1) When loading at close to zero, that's more than one $500 GC right? As in, as long as the balance is near zero, I can load 2 or 3 GCs at once?
2) What's meant by "swipes are recommended". What's the alternative?
1) When loading at close to zero, that's more than one $500 GC right? As in, as long as the balance is near zero, I can load 2 or 3 GCs at once?
2) What's meant by "swipes are recommended". What's the alternative?
Nov 5, 2016, 9:52 am
#262
Original Member
Join Date: May 1998
Location: West Palm Beach, FL, USA
Programs: AA EXP, Hilton Gold, Marriott Platinum, ALL Gold
Posts: 206
I am just going to add my voice to the chorus that the advice in the Wiki is basically wrong. The rule is that this is a debit card/checking account. You should NOT let the balance regularly go all the down to zero IMO. I use the card several times a week for small transactions (like $3 - $5), mostly Uber or McDonald's. I also do DD every two weeks from part of my paycheck (my employer allows paychecks to be split among accounts...so I send $300 to GoBank every two weeks). Most of the money comes out of the account via bill pay. I pay up to 3 cards (anywhere from $300 - $2000), monthly mortgage ($1500), and utilities ($10 - $100). Finally, I am willing to pull out small amounts of cash. I will go to CVS or Walmart and buy a small item and then get $40 - $100 cash. It looks like just a normal transaction rather than a cash withdrawal.
Nov 22, 2016, 4:19 pm
#263
Join Date: Apr 2012
Location: LAX
Posts: 238
Fund Reversal @ Walmart
I had this interesting event on 11/18 - went to WM and had 3 transactions for $500 each. Got all my receipts but today was looking online and realized that apart from the 3 transactions there is a fourth transaction for reversal of $500 on the same date. So basically the third transaction was reversed. Not sure why? Any ideas...
Nov 22, 2016, 4:21 pm
#264
Join Date: Mar 2007
Location: S Cal
Programs: AA Lifetime Plat, United Silver, Marriott Plat, IHG Plat
Posts: 1,142
I had this interesting event on 11/18 - went to WM and had 3 transactions for $500 each. Got all my receipts but today was looking online and realized that apart from the 3 transactions there is a fourth transaction for reversal of $500 on the same date. So basically the third transaction was reversed. Not sure why? Any ideas...
Did you save the GCs you used for loading? Check them, and hopefully one card has the $500 balance restored.
Nov 23, 2016, 1:43 pm
#265
Join Date: Apr 2012
Location: LAX
Posts: 238
Yes - I do have the GCs but they all are zero balance. I called GoBank and they told to file a dispute. Started the process.
I always thought that limit was $1000 in one transaction - had never tried before. So will wait and watch.
I always thought that limit was $1000 in one transaction - had never tried before. So will wait and watch.
Jan 11, 2017, 12:04 am
#267
Join Date: Apr 2014
Posts: 68
Trying to log on my account today to see if I can do bill pay as usual.
I noticed that all my previous stored payee were erased. When I try to type in Chase, American express ... etc, it no longer automatically pulled up their addresses. It seems that I now have to manually add the credit card's address for it to be paid...
I wonder what's going on. Is this because they now have a slightly new interface?
I noticed that all my previous stored payee were erased. When I try to type in Chase, American express ... etc, it no longer automatically pulled up their addresses. It seems that I now have to manually add the credit card's address for it to be paid...
I wonder what's going on. Is this because they now have a slightly new interface?
Jan 11, 2017, 5:48 am
#268
Join Date: Sep 2014
Location: NYC
Posts: 498
Trying to log on my account today to see if I can do bill pay as usual.
I noticed that all my previous stored payee were erased. When I try to type in Chase, American express ... etc, it no longer automatically pulled up their addresses. It seems that I now have to manually add the credit card's address for it to be paid...
I wonder what's going on. Is this because they now have a slightly new interface?
I noticed that all my previous stored payee were erased. When I try to type in Chase, American express ... etc, it no longer automatically pulled up their addresses. It seems that I now have to manually add the credit card's address for it to be paid...
I wonder what's going on. Is this because they now have a slightly new interface?
Jan 11, 2017, 6:18 am
#269
Join Date: Jul 2014
Posts: 3,688
I have done ACH pull from each CC for the longest time until one day info on my account was grayed out telling me my account was suspended and I had to call. I found out they frowned on this activity and I have to do B/P instead. From then, I never heard from them. Sending payment via b/p is not as quick as ACH pull but it's still reliable to reach destination so I do what I was told.