
The portfolio of active accounts is now large enough, CEO Steve Streit said, that data about the service is “meaningful.” Here are the data points Streit announced:
- About 75% of new account holders that make an initial deposit will make a second deposit
- The most popular methods of depositing money are direct deposit, mobile check deposit, ACH transfer from another bank account, and cash deposit at a retail location, in that order
- Almost 60% of active account holders say that GoBank is their primary checking account
- GoBank active customers deposit $1,000 per month on average to their accounts, and that figure grows each month
- 23% of active users use GoBank for bill payment and “even more” use the P2P payment feature
- Account holders use their debit cards for an average 19 transactions per month and spend $600 monthly. This metric has grown more than 12% in the last 60 days
- More than half of account holders are between the ages of 18 and 34
Streit also mentioned that, beginning this past Monday, GoBank is testing a store-based version of the product — possibly the “starter kit” first mentioned last week — in 20 Walmart locations in Texas. “I can confirm… that we are in a small number of Walmart stores in Texas on a pilot basis with a productized version of GoBank,” Streit said.





