Posted by Chuck on November 17, 2014
Manufactured Spending

Published on November 17th, 2014 | by Chuck


Are GoBank’s New Limits for Real?

We previously discussed that GoBank rolled out new fees and limits and started reappearing, see GoBank Reappears?

Since then, I’ve noticed them popping up in a few Walmart’s, so it’s now rolled out for all to get. (There is now a monthly fee on the “new-and-improved” GoBank, as we mentioned.)

One interesting note on GoBank’s new limits: Supposedly, as of August 14,2014, they imposed of an add-cash limit of $3,000 per rolling 30 days. This info is still what’s advertised in GoBank’s account agreement.

I just recently added more than $3,000 by mistake; I hadn’t realized that I was exceeding my limits. Just today, I logged into my GoBank account, and realized that I actually exceeded my $3,000 per rolling 30-days.

gobank $3k limit


As you can see, I added $1900 on 10/21, and then another$1500 on 11/12, for a total of $3400 within one rolling 30-day period.

It’s possible that they switched to a calendar-month schedule, instead of a rolling-day schedule, though they still mention the rolling-day limit in their account agreement.

Two other posiblities:

  • They may have never hard-coded the new limit; it’s just something that they could make problems for you if you go over.
  • Maybe they allowed the final reload since I still had a few hundred dollars left to reach my limit. Since I was allowed to load a smaller amount, the system lets me load a higher amount. But if I’d try to do another load now, for example, the system wouldn’t allow it.

I don’t intend to experiment much on this, because I’d rather just keep within my $3k limits, and not get on GoBank’s bad side. But I found it interesting that the limits may not be as clear-cut as I had thought.

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