Comments on: Gobank arrives A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: traducator daneza romana Mon, 29 Sep 2014 13:55:47 +0000 easy, restrained and stylish

By: OuterLimits Thu, 24 Jan 2013 20:59:21 +0000 To KenG_CA the advantage is the free cash deposits.

Another advantage for some potential customers is that since it is a prepaid product just as Simple is they can accept any customer. Simple is also prepaid but for some unknown reason they filter customers through Andera.

By: OuterLimits Sun, 20 Jan 2013 11:17:42 +0000 I don’t know where this is coming from since Time magazine is saying the same thing but there are NO free deposits for GoBank at retail locations. BlueBird, Liquid, Regions Now card, PNC Smartacess, US Bank Convenient Cash all have free cash deposits but NOT GoBank.

Pick up a MoneyPak at a local retailer and add cash to it at the register. FYI, stores usually charge $4.95 for this, but we’ll pay you back if it’s your first deposit. Select the MoneyPak option online or on the app, and enter the number listed on the back of the card. Click here to find a MoneyPak location.”

“And because Green Dot has a lot of retail locations, it can offer something Simple will never have: free cash deposits.”

By: crocodilechuck Wed, 16 Jan 2013 22:47:08 +0000 Felix

1) you probably don’t remember Security First Network Bank (1st internet ‘pure play’, back in ’95). made a big splash, huge IPO, and then big losses. The problem with these ‘pure plays’ was building a [stable] deposit base. They couldn’t (I believe most of them were hot money, and broker introduced)
2) “That’s really the best chance we have for the big banks to get forced to make their checking accounts much more user-friendly” Get rid of cheques!

By: KenG_CA Wed, 16 Jan 2013 21:24:33 +0000 “… with mobile check deposit, iPhone and Android apps, and the like.”

Simple has those three things (I don’t know what “the like” is), for all of their customers now.

“Gobank even offers you the ability to transfer money easily and directly from Simple, or any other checking account, straight into your Gobank account: you just type in your debit card number and your security code, and transfer as much money as you want.”

Simple has that capability, also.

Simple does not have a lot of retail locations, though, nor does it accept cash deposits, as far as I know.

“And in terms of marketing, Gobank can sell itself as being a bank; Simple can’t.”

Given how widely banks are hated, I don’t see that as a big advantage.

So what’s the real advantage of GoBank over Simple? Just the checking account? Eventually, paper checks will be mostly unnecessary (this debate has been played out on your pages before). Simple is completely free, they don’t even ask for a voluntary membership fee to make you feel guilty.