GoBank, a brand of Green Dot Bank, recently announced that its
application will be available online and on selected mobile
devices by July 4. Green Dot Bank, a member of FDIC (Federal
Deposit Insurance Corporation) and a subsidiary of
Green Dot Corporation
), has partnered with various media, retail and mobile companies
to bring forth this unique application.
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GoBank is the first bank account intended to be exhaustively used
on mobile devices like iPhone, iPod Touch and Android devices.
Users can access and control their daily finances through mobile
phones and withdraw cash from around 42,000 fee-free ATM's in the
U.S. GoBank also offers a "pay what you want" model, wherein
members can choose to pay monthly fees from $0 to $9 at their own
Green Dot plans to advertise GoBank through digital distribution
and marketing and in-store promotions. The GoBank app will be
available in the flagship Apple App Store of
) and Google Play, an online electronics store by
). In addition, the app will be digitally distributed
through a number of companies like WePay, Check, Tango Card and
With its consumer-friendly pricing features, wherein it charges
no overdraft fees or penalty fees with no minimum balance
requirement, GoBank is likely to revolutionize consumer banking
in the era of on-the-go mobile app. It promises to provide
members with a fast, transparent and user-friendly experience.
Based in CA, Green Dot provides low-cost banking and payment
solutions. Its main objective is to reinvent personal banking for
the masses through a portfolio of financial services available
across a wide array of retail locations nationwide.
Green Dot currently carries a Zacks Rank #3 (Hold), while another
stock within the industry,
), carries a Zacks Rank #2 (Buy).