Green Dot's Mobile Bank, GoBank, Goes Live

GoBank, the mobile-only banking service started by Monrovia's Green Dot, has gone live, exiting a beta and hitting general availability, Green Dot said today. The service--a real, FDIC insured bank which forgoes physical branches and is entirely available via mobile apps only--has apps that run on iOS, and will soon be available on Android. Green Dot said its GoBank accounts were specifically "built for the smartphone generation."

GoBank's service lets users sign up via a mobile app, providing such features as fee-free ATM access to a network of third party ATMs; mobile checkbook tools; budgeting software; bill pay; and other services. The app also includes a "Fortune Teller" which will let users ask if they can afford to purchase an item--before the purchase--based on a user's budget.

As part of the widespread launch, Green Dot said it has a national promotion with MetroPCS to distribute the company's mobile app on Android; an in-store promotion with Rite Aid; more in-store promotions with the Barnes & Noble College bookstores; and many others.