Posted by Chuck on January 8, 2019
Bank Account Bonuses

Published on January 8th, 2019 | by Chuck

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[Expired] GoBank Prepaid Card $100 Signup Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Offer at a glance

  • Max Bonus Amount: $100
  • Availability: Nationwide
  • Additional requirements: One purchase per month for 12 months
  • Hard/soft pull: No hard pull
  • Credit card funding: Unknown
  • ChexSystems: Unknown
  • Monthly fees: Waivable
  • Expiration date: 1/31/2019

The Offer

Direct Link to offer

The Fine Print

Avoiding Fees

GoBank charges $8.95 per month, waivable when you have a $500 direct deposit post to the account each month. Ordinary ACH transfer have worked in the past for this.

Our Verdict

GoBank is a full-service prepaid card similar to the Serve, and some people use it for Walmart loads and the like. It’s run by GreenDot who has always been known to be shutdown happy, but people have used this successfully, probably by using in moderation.

I don’t see this as being worth it for the $100 bonus since you’ll have to deal with the $500 monthly direct deposits, the monthly purchase, and you’ll only get the bonus in a year. But for those interested in the card for other reasons, this seems like a sweet added bonus.

There’s a similar deal from Green Dot on other prepaid cards as well. Those are less interesting for use, but the signup offer is a bit better since it also gives 5% back on purchases, up to $250 per year.

Hat tip to @covwhodat 

Important Note: A reader says that the cards purchased online do not get free loads, only those purchased in Walmart. If anyone can collaborate this info, please do. I believe you can still get the $100 bonus by purchasing at Walmart and then activating through the promo page.



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Jamie
Jamie

ACH transfer from Schwab Checking has worked for me to waive monthly fee in the past. I stopped doing it though as I figured I’d be less likely to be shutdown if they were making $8.95 a month off of me.

Sevillada
Sevillada

What’s the point if you would be losing money?

Andrew
Andrew

Presumably for MS

Jamie
Jamie

Yes. Have used for MS ever since my Bluebird was shut down. Never had an issue, but I also have always complied with their rolling 30 day loading limit. Maybe they only shutdown folks who go over.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Signed up, I will report back what counts as a DD. I am just gonna set up $500 in and out transfer from my Keybank if that continues to work and one 50 cent reload at amazon a month. Maybe ill explore its uses at Walmart after reading into it a bit more.

Niranjon Shrestho
Niranjon Shrestho

You should try this: Greenhouse App by Wells Fargo ($50 bonus) go steal uhmm.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Please elaborate and comment link too.

Niranjon Shrestho
Niranjon Shrestho

Link: https://www.wellsfargo.com/greenhouse/
there is a signup bonus ($50) going on new app (kind a finn by chase). I don’t think doctorofcredit mention it.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

They generally dont do bank bonuses under $100. I think since I got a Wells Fargo bonus in the last 12 months I am ineligible.

William Charles

We mentioned it when the bonus was $150: https://www.doctorofcredit.com/greenhouse-by-wells-fargo-150-bonus-mobile-banking-platform-ios-only/. $50 isn’t worth considering given getting this makes you ineligible for other Wells Fargo deals.

Gadget
Gadget

Is this really a good idea, A year long commitment for a hundo? Man… That Dollar Bank thing seems like torture at this point (month #11 for me), and that was for $200. And a couple $25 referrals.

Honestly, bank offers seem kind of bleak at the moment and I may cave. Instead of beer goggles, I may have bank goggles?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Not too much commitment for me. What else am I gonna do. I am at a slow down now for bank bonuses and am focused on MS. $100 is $100 plus I am curious of its capabilities at WM. Gadget

jeffersun8
jeffersun8

possible to have multiple per person? GB is my go to because I’m mysteriously banned from serve. Ally counts as DD as well as ACH push from local checking account

crystal
crystal

I’m also banned by serve as I could not sign up new serve accounts.
What kind of VGO work to load at WM? is it only metabank/US bank VGC?

Ben
Ben

I use the visa style gift cards from OD

anne
anne

I have been trying to link GoBank account with Memory and Discover and both did not recognize the routing number!!!

H
H

What is the daily and monthly limit on GB?

captainsave
captainsave

Did gobank add a fee to loading at walmart? It was free when i signed up last year. Can i sign up for this if i already have an account?

Jamie
Jamie

No fee to load at Walmart.

Mimi
Mimi

There are DPs on FT that new cards, Visa and MC are charged fees to load at WM.

We have MC issued in 2015 that are still free to load at WM.

Limit of 1 card per SSN.

86
86

Probably not worth it even for the $100 bonus if the new cards have a $4.95 fee to load at Walmart. Really narrows what you can do with it. I wonder how long the old cards will reload for free?

Skippy
Skippy

Wells Fargo ACH counts as dd. You can use the account for bill pay, so easy to unload the dd. Still free to load at Walmart. I can’t remember if there is a fee to make a purchase. If so, then rather than a small Amazon reload I would do a small grocery store purchase with cash back.
SO and I have had cards for a long time. No problems for us. But we aren’t heavy hitters.

simon
simon

thanks for the tip, i signed up and set up online account within 5 minutes, says card will be received 5/7 days. Wondering if i can set up one for SO to get $100 bonus too with same address?

anne
anne

Just signed up. I was trying to link it to my Discover checking and the system did not recognize the routing number? Anyone had the same problem?

Sexy_kitten7
Sexy_kitten7

I got the same error with Ally. BMO worked. Presumably they know it’s a prepaid product and are blocking it on purpose.

Jace
Jace

Chase checking ACH counts as DD. If account is empty it does not charge a fee.

vipul
vipul

I think you can reload Gobank card using VGC even online, right?

crystal
crystal

does it limit to any VGC or VGC issued by some specific bank?

Adrien Agreste
Adrien Agreste

Ok so, just a few things I want to mention:

1.) You all do realize the promo requires you to open an account BETWEEN 1/15/18 – 1/31/18 right? To those opening accounts right now: Why? You more than likely will not get the bonus.

2.) You can only have one of these per SSN. I can confirm it’s hard-coded to only allow you to sign up for one.

3.) There are two versions of this card. A MasterCard version and a Visa version. The Visa version is the one you get when you sign up online, the MasterCard version is the one you get if you purchased a starter-kit at a physical store. Various physical stores sell the starter-kit, however if you want to have free reloads at Wal-Mart (and only at Wal-Mart) you NEED to purchase the starter-kit FROM WAL-MART for $2.95. It’s not a mystery as to why some people get charged reload fees and others don’t. You gotta purchase it FROM WAL-MART for the free reloads. If you purchase the starter-kit from anywhere else or sign up online, you won’t have the free reloads perk.

4.) Just like the Serves, if the account has a balance <$8.95 at the end of the statement cycle, you'll be charged that amount instead of $8.95. This means if you have a $0.00 balance at the end of the statement cycle, you won't be charged any fees.

5.) The starter-kit at Wal-Mart is hard-coded to only be able to be purchased with Cash or Debit so go and liquidate a GC while you're at it. 😉

Simon
Simon

regarding your tip 1: here is from gobank website:
$100 credit award applies only to new accounts opened from 11/15/18 to 1/31/19. Your card account must be successfully registered with a valid ID, be open, working and have been used to make any purchase once each month for the next 12 months. Card must have a positive balance as of 1/31/20. The $100 will be automatically added to your card account within thirty days of your first anniversary. Limit one $100 offer per customer.

Great tips while i am waiting for my card mailed from them. May not load gebit if not free load since i ordered online.

Adrien Agreste
Adrien Agreste

Holy crap, I totally read that as being “between / 1/15/19 / and 1/31/19.” Oh wow, sorry about that. It seems even /I/ need to read things more carefully…and I though I was good at that. Thanks! I’ll edit my post.

anne
anne

So for this offer do we have to have a balance every month until we get the bonus? Also discover did not let me link this account.

Adrien Agreste
Adrien Agreste

The terms just say you have to make one purchase every month and that it must have a balance on the 12th month. So I don’t see why you couldn’t empty it out every month. That’s what I’d do.

Adrien Agreste
Adrien Agreste

Seems I can no longer edit this comment. Anyways, FYI, I misread the dates on the TaCs so point number one is null and void.

Sexy_kitten7
Sexy_kitten7

Opened acct on 1/8 and they already charged the fee! And yes it took me negative. If this is how they want to play, I’ll just close the account. Not worth the hassle. Now I know how the unbanked feel!

Onsale
Onsale

Sexy_kitten7 thanks for taking one for the team

Adrien Agreste
Adrien Agreste

WTF 😲🤔 This may be new or a glitch? From experience it’s always been if there is no balance on the account, no fee is charged. It’s not supposed to be able to go negative.

Sexy_kitten7
Sexy_kitten7

So I’ve asked them to close it 3 times and they refuse unless I pay the fee first! Son of a gun! Guess I have to take my own advice: CFPB, AG, Alexes, SCC. Ugh. And I’ll probably be racking up more fees as I go and jeopardize my credit. God this hobby is exhausting. On days like this (spending my vacation fighting with Gobank and Amex travel- hello from SRQ), it definitely isn’t worth it. 🙁

nomis
nomis

i am willing to pay one time fee 8.95 since i am already sucked in, if you read their terms, the fee not supposed charged as soon as you open the acct, so you do have a legal stand and send their terms to CFPB to fight them if you think its base on principles, gobank totally wrong on this regardless unless they charge 1st then refund on the same statement if you have a DD over $500 later. but no way they can refuse to close an account especially they mislead people.

Sexy_kitten7
Sexy_kitten7

Update: So I decided to just pay the fee and deal with them afterwards. Well they wouldn’t even close my account when it was at zero dollars! And now February’s fee has been charged. I just filed with the CFPB, Fed, and 2 state AGs. If they don’t close the darn account I will take them to court. This is insane.

Sexy_kitten7
Sexy_kitten7

Update: My CFPB complaint was referred to SF Fed, which investigated and found that the fee was legal since it is disclosed in the acct agreement. The second fee was refunded a day after it was charged and the account was closed (dunno when, I wasn’t notified and haven’t exactly been logging in- my precious blood pressure). Oddly enough haven’t heard a peep from the bank. So I wrote back to SF to appeal and hint at legal action (I cc’d bank). Will wait for response, then send demand to bank, then file (prob AAA). What a headache. All for $8.95! If they want a fight, I’ll give it to them.

Stefan Krasowski (Rapid Travel Chai)

I had the same issue when opening a GoBank Visa online. This does not happen when opening the GoBank MasterCard purchased at Walmart which is the one you want and I later switched to. GoBank customers service by twitter direct message is pretty good and they immediately agreed to credit me back that $8.95 since I had a qualifying $500 direct deposit that month. Deal with them rather than going to the mattresses with regulators and legal action.

Sexy_kitten7
Sexy_kitten7

Thanks for the suggestion but my account is already closed and I did not have any deposits. I opened this account for the bank bonus only (not MS) under the assumption that a zero balance avoided the fee. But the fee being charged immediately at a zero balance spooked me so I decided to cut my losses. Sure, I could have tried to spoof DDs but that didn’t seem worth the hassle.

I’m actually writing my demand letter today so I’ll update you on how it turns out, if I can 😉

Stefan Krasowski (Rapid Travel Chai)

Demand letters, CFPB complaints, and you didn’t bother to push $500 to them, how does this help any of us?

crystal
crystal

was trying to add gobank to my ally so I could make an ACH. I got an error that The routing number is invalid or not supported. Tried another bank and was unable to add either. Did anyone have the same issue? I am using the routing no I found when I logged in: 124303162

anne
anne

I could not link it with Discover either.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

KeyBank counts a DD. Account opened Jan 8th, fee charged Jan 10th. Off to a good start 🙁

Simon
Simon

I have 0 balance and received my debit card today, before I activate the card, I found out I have negative 8.95, so I didn’t activate my card and sent them a message asking what’s going on, may close the account if that’s the way of going forward.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Yeah same. I was like wtf

Simon
Simon

Here is my DP for u: signed up online and received my debit card quickly and log online and saw -8.95 fee charged even no any other activity, contacted gobank, they said can’t be waived, went Walmart to try to dispose a 500$ vgc, cashier said there is a 3.95 fee per load to my go bank Visa card, so I cancelled the load. Then asked about free reload gobank kit, cashier said not too familiar with fee but point out the MasterCard gobank card said FREE reload only at Walmart on the back of the kit, so I told him to get me one, he scanned and I told him to load 497.05. He told me to swap my debit for total $500 due to there is 2.95 kit fee one time. I got my receipt and went home and registered to my spouse name and real debit card will be shipped soon. I am willing to pay the one time 2.95 and one time 8.95 fee if that’s the case, will avoid load fee or monthly fee by direct deposit 501$ and use one time per month to load balance to my Amex serve to get the $100 bonus if possible. My advise to you, do not do it if not yet. Too much trouble for the bonus, they may shut you down before 12 month just to avoid giving us the bonus, who knows. Hope my DP helps you to make informed decision.

JD
JD

Regarding the fee: I had a direct deposit that meets the requirements come through today. According to the CSR, the fee will automatically reverse in 24 hours since I met the requirements. Ridiculous to charge the fee upon account opening and I’m not sure this will help anyone at this point since the month is almost over…

AllwaysLearning22
AllwaysLearning22

I guess it is YMMV.
01/28 – purchase card at WM + initial load of $100
01/30 – $250 DD
02/13 – $250 DD

No monthly fee yet (as of 2/17)

BTW: On the mobile app there is a “Monthly Fee Waiver” which shows if you have met the criteria for the monthly period.

For me that screen displays ‘Success!’ for period 1/27 – 2/25

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