A new bank called GoFree opened in April 2023. GoFree is marketed as a new player in the crowded financial services field. It has a few features that it hopes will set it apart from the competition. The app is mainly for Gen Z, Millennials, B2C players, SMEs, and startups like itself.
The app lets people do more than pay for things; it lets them work together and send notes. It’s an excellent app for people who want to manage their work and personal lives simultaneously, just like China’s popular WeChat.
GoFree users can talk with friends and family, collaborate on documents, send/receive money, and pay bills in one environment. As this review’s title suggests, it’s a big project that, at first glance, should be number one.
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GoFree: A simple app with some issues
GoFree’s app is accessible on Gppfle PlayStore and iOS, depending on the device. The software loads quickly and displays the product’s logo on a white background. An instructive video shows new users how to sign up.
The registration procedure is engaging till the OTP. An OTP from GoFree is needed to create an account.
A request for an OTP took almost ten minutes. Inadequate network connections or server faults can delay OTP arrival. Ten minutes for an OTP is too long. Customise the user profile after entering the long-awaited OTP.
The user can upload or capture a photo here. Their display name and cash tag must also be entered. App security is GoFree’s claim to fame. New passwords are required on the security page. These include fingerprints, facial recognition, and 4-digit codes.
The app dashboard appears now. You can validate your account or use the offered services. After uploading a NIN slip, the software stops and restarts. It appears that other Google Play Store users have reported the same issue.
Essential functions are still accessible without account verification. People can speak with their contacts and send or receive money in the chat section. GoFree has essential social media capabilities, as claimed. Images with captions and stories with a limited lifespan can be posted.
Virtual USD cards cost $2 (+$1 activation fee), and physical ones $3. A $10,000 monthly spending limit applies to virtual cards, whereas $50,000 applies to actual cards. For clarification, physical care is coming. Drawbacks exist. External accounts and debit/credit cards cannot be linked to GoFree yet.
GoFree AI Companion
GoFree, Google, Open AI, Slack, and Snapchat are experimenting with AI. It seems strange on a financial app, but GoFree claims to offer more than a money transfer and remittance platform. Companion lets consumers ask GoFree’s AI assistant questions. It can compose essays and reports for them.
It aids research, too. Unfortunately, attempts to test the companion’s powers failed. The AI displayed a “Companion” box when asked. An indicator should be placed on beta or “coming soon” features.
Concluding remarks
After testing, GoFree’s app has great potential. Building on the product’s initial offerings will affect it long-term, for better or worse. Prolonged OTP arrival delays and a problematic account verification process should be fixed.
GoFree needs a near-perfect app to become a top pick for its target population.
