GO2bank vs. My Banking Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | GO2bankHigh Yield Savings Jan 7, 2026 | My Banking DirectHigh Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 0.00% - 4.50% | 4.02% |
Est. Earnings | $5,000+$225 $10,000+$225 $25,000+$225 | $5,000+$201 $10,000+$402 $25,000+$1,005 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | A GO2bank checking account is required to open a savings account. The 4.50% APY is up to $5,000. Balances above that earn no interest. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking Bundle | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing GO2bank vs. My Banking Direct
As of GO2bank offers an APY of 4.50% for its High Yield Savings account, with a minimum balance of $0, compared to My Banking Direct's 4.02% APY for its High Yield Savings Account, with a minimum balance of $1.
My Banking Direct pays $177 more than GO2bank on a $10,000 balance after one year. GO2bank pays $225 (with an effective APY of 2.25%), while My Banking Direct pays $402 - an APY advantage for My Banking Direct.
Why GO2bank?
- ✓Higher potential APY (4.50% vs 4.02%) on balances up to $5,000 (requires checking bundle)
Why My Banking Direct?
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $225/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $225/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $177 more interest on a $10,000 balance than GO2bank's High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
GO2bank offers a High Yield Savings account with a competitive APY of 4.50%, applicable to balances up to $5,000, but requires a GO2bank checking account to open. In contrast, My Banking Direct provides a High Yield Savings Account with a slightly lower APY of 4.02%, but it has no minimum balance requirements, maintenance fees, or direct deposit stipulations, making it simpler to manage. Both accounts are online-only, with GO2bank's account yielding higher interest for smaller balances, while My Banking Direct excels in flexibility and ease of access.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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GO2bank vs. My Banking Direct Savings Calculator
You earn $177 more with My Banking Direct than GO2bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
GO2bank
High Yield Savings
4.50% on first $5,000 and 0.00% thereafter.
Savings Breakdown
- Interest Earned+$225.00(2.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,225.00
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | GO2bank | My Banking Direct |
|---|---|---|
| APY | 4.50% 0Verified: 1/7/2026 Stable (90d) | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change |
| Product Name | High Yield Savings | High Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $1 |
| Monthly Fee | $5 per month, unless you set up direct deposit | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.8 Android4.5 | iOS4.7 Android4.3 |
| Zelle® Support | Not Supported | Available Uses Flagstar/NYCB parent infrastructure. |
| BBB Rating | Not Rated | F |
| Important Notes | A GO2bank checking account is required to open a savings account. The 4.50% APY is up to $5,000. Balances above that earn no interest. | - |
| Next Steps | Visit SiteVerify at GO2bank Non-sponsored link to official site | Visit SiteVerify at My Banking Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | GO2bank | My Banking Direct |
|---|---|---|
| High Yield Savings | High Yield Savings Account | |
Current APY | 4.50% | 4.02% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -7.8 |
Days Since Change | 153 | 53 |
5-Month High | 4.50% | 4.30% |
5-Month Low | 4.50% | 4.02% |
Adjustments / Mo | 0.00 | 0.58 |
Volatility Score | 0.000 | 0.029 |
How to read these metrics(Click to expand)
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