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)
Mar 12, 2019, 4:37 pm
#661
Join Date: Feb 2014
Posts: 5
Same here. I guess I'll just have to confirm it when my balance is < $3K. I have legit bills (just moved everything over to GB..mortgage, car payments, etc.) to pay, well over $3K too. What a stupid new rule.
Mar 12, 2019, 5:55 pm
#662
Join Date: Sep 2014
Location: Metro ATL
Posts: 359
Finally, I was able to load 3x$500 (VGC) at WM customer service (MC closed in early am).
Later today went to an ATM and brought total balance bellow $1500 to be able to load another $1500 tomorrow.
This change will require additional planning as it appears that moving $$$ to the Vault doesn't help.
Later today went to an ATM and brought total balance bellow $1500 to be able to load another $1500 tomorrow.
This change will require additional planning as it appears that moving $$$ to the Vault doesn't help.
Mar 16, 2019, 11:57 pm
#665
Join Date: Nov 2015
Programs: DL, Marriott & IHG Platty; HH Diamonte
Posts: 861
Mar 17, 2019, 6:39 pm
#667
Suspended
Join Date: May 2009
Location: DFW
Programs: AAdvantage Platinum, Hilton HHonors Gold
Posts: 2,863
Finally, I was able to load 3x$500 (VGC) at WM customer service (MC closed in early am).
Later today went to an ATM and brought total balance bellow $1500 to be able to load another $1500 tomorrow.
This change will require additional planning as it appears that moving $$$ to the Vault doesn't help.
Later today went to an ATM and brought total balance bellow $1500 to be able to load another $1500 tomorrow.
This change will require additional planning as it appears that moving $$$ to the Vault doesn't help.
Mar 18, 2019, 12:56 pm
#668
Join Date: Sep 2014
Posts: 24
any tips for avoiding shutdowns ? I see wiki says "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."
any insight on loading / unloading would be helpful. TIA !!
any insight on loading / unloading would be helpful. TIA !!
Mar 21, 2019, 2:25 pm
#669
Join Date: Aug 2015
Posts: 2,061
any tips for avoiding shutdowns ? I see wiki says "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."
any insight on loading / unloading would be helpful. TIA !!
any insight on loading / unloading would be helpful. TIA !!
Mar 22, 2019, 8:53 am
#670
Join Date: Dec 2008
Location: DUB-BOS
Programs: various
Posts: 3,678
Balance was at 2300 and made a $500 DD to get me to 2800 to see what would happen. It was accepted even though that put me over 3k load in the past month.
Previously I have fallen foul of the 3k balance limit when it rejected a $200 load to a 3k balance (even though my loading velocity was less than 3k for that month). I had to go pay a bill and before I was able to complete the load
Seems a weird restriction to introduce. You would imagine that they earn money off people with high balances....perhaps its just easier to make a hard limit on overall balance than try to control velocity (that said, excessive abuse of velocity probably gets caught by other means)
Mar 22, 2019, 12:38 pm
#671
Join Date: Aug 2015
Posts: 2,061
It is not a hard velocity limit as I have loaded 3250 in the past 26days.
Balance was at 2300 and made a $500 DD to get me to 2800 to see what would happen. It was accepted even though that put me over 3k load in the past month.
Previously I have fallen foul of the 3k balance limit when it rejected a $200 load to a 3k balance (even though my loading velocity was less than 3k for that month). I had to go pay a bill and before I was able to complete the load
Seems a weird restriction to introduce. You would imagine that they earn money off people with high balances....perhaps its just easier to make a hard limit on overall balance than try to control velocity (that said, excessive abuse of velocity probably gets caught by other means)
Balance was at 2300 and made a $500 DD to get me to 2800 to see what would happen. It was accepted even though that put me over 3k load in the past month.
Previously I have fallen foul of the 3k balance limit when it rejected a $200 load to a 3k balance (even though my loading velocity was less than 3k for that month). I had to go pay a bill and before I was able to complete the load
Seems a weird restriction to introduce. You would imagine that they earn money off people with high balances....perhaps its just easier to make a hard limit on overall balance than try to control velocity (that said, excessive abuse of velocity probably gets caught by other means)
Mar 30, 2019, 12:52 pm
#673
Original Member
Join Date: May 1998
Location: West Palm Beach, FL, USA
Programs: AA EXP, Hilton Gold, Marriott Platinum, ALL Gold
Posts: 206
I also went and checked the T&C's on the GB website and it still says maximum balance is $50K. I will drain the account and then try to load again to see what happens. If max balance is now $3K then it's going to become a very quick in and out of funds for future use.
Mar 31, 2019, 9:06 am
#674
Join Date: Dec 2012
Location: SoCal
Posts: 123
Was told I had to bring account out of negative first and then I could close it. It is now $28.95 in arrears. Used to be if you didn't have any funds in the account
around the closing date none were deducted. Now the account goes into the negative. I am thinking I will abandon the account. They can keep their negative funds.
Mar 31, 2019, 12:36 pm
#675
Join Date: Nov 2017
Programs: none
Posts: 106
It's best to Not abandoned or leave negative there, it's not worth it to damage credit that way, if I were u, I would bring this matter to cfbp attention and demand them to waive fee then close. Here is link if you want have a look.
https://www.consumerfinance.gov/complaint/
https://www.consumerfinance.gov/complaint/
