GO2bank is a trade name of Green Dot Bank, an FDIC-insured bank that has held federal deposit insurance since 1978 (FDIC certificate #22653). When you open a GO2bank account, your money is held at Green Dot Bank, and your debit card is issued by Green Dot Bank pursuant to a license from Visa.
How Green Dot Bank and GO2bank Are Connected
GO2bank is not a separate bank. It is a mobile banking product created by Green Dot Corporation and operates as a registered trade name of Green Dot Bank. Think of it this way: Green Dot Corporation is the parent company, Green Dot Bank is the actual chartered bank, and GO2bank is a brand name that Green Dot Bank uses to offer accounts to consumers through a mobile app.
Green Dot Bank operates under several registered trade names, including GO2bank, GoBank, and Bonneville Bank. All three names refer to the same single FDIC-insured institution. This matters because your deposits under any of these names are treated as deposits with Green Dot Bank for insurance purposes.
What This Means for FDIC Insurance
Because GO2bank accounts are held at Green Dot Bank, your deposits are covered by FDIC insurance up to the standard limit per depositor. One important detail: if you also hold money under the GoBank or Bonneville Bank names, those balances are aggregated with your GO2bank balance when calculating your insurance coverage. The FDIC treats them all as deposits at the same bank, because they are.
Green Dot’s Broader Banking Business
Green Dot Bank does more than power the GO2bank app. The bank also issues prepaid debit cards, payroll cards, and provides banking infrastructure for other companies. For example, the rapid! PayCard payroll card is issued by Green Dot Bank under a Mastercard license. Green Dot Corporation has built a business model around offering banking services through retail partnerships and digital products, with Green Dot Bank serving as the chartered institution behind all of them.
For everyday purposes, if you are a GO2bank customer, your banking relationship is with Green Dot Bank. That is the entity listed on regulatory filings, the entity that holds your deposits, and the entity responsible for FDIC coverage on your account.