“While other banks and fintech startups are working to remove friction from the account-opening process, GoBank is adding friction. Yes, you read that right.
The mobile-first bank account from Green Dot Corp. announced the following Wednesday:
You’ll now need a GoBank starter kit to open a GoBank account, which is only available at a few stores in the moment. Don’t have one yet? Stay tuned for updates on how to get one!
The starter kit appears to contain a “starter debit card,” the information from which is required to begin the account-opening process online. In June 2013, GoBank introduced mobile account opening. That is now gone.
So while Moven and Simple have made it easier to open accounts, GoBank just made it harder, and is forcing new users to visit retail partners such as 7-Eleven or Walgreens in the same way traditional banks force users to go to branches.”
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