Prepaid Debit Card Guide

Reloadable Debit Cards

admin — Tue, 18 Aug 2009 00:49:58 +0000

Have you heard the term “reloadable debit card” and wondered what it means? You’ve come to the right place to find out (we know EVERYTHING about debit cards, including “reloadable” and “non-reloadable” cards).

A reloadable debit card is a debit card that can have funds “reloaded” on it. Simple as that.

Some cards, like prepaid gift cards, can only be used one time, and once the funds on the card are depleted, you basically just throw the plastic card away, because you can’t reload funds onto the card.

A reloadable debit card allows you to deposit (or “load”) more money onto the card. Typically, reloadable debit cards are cards that have the MasterCard, Visa, American Express, or Discover logos on them (that is, they are “network branded cards”).

Many reloadable debit cards also have the logo of a “reload” network on them. One famous reload network is the GreenDot network. Other, newer, load networks include the MasterCard rePower network, and the Visa ReadyLink network.

Here’s what MasterCard says about their “reloadable MasterCard debit cards”:

The MasterCard rePower Load Network is a new service from MasterCard that allows you to add money to your eligible MasterCard or Maestro^® prepaid cards at any of the thousands of participating retailer locations throughout the U.S.*
Add Cash Now. Use It Now
With MasterCard rePower, your money is immediately available for you to spend anywhere that Debit MasterCard or Maestro Prepaid Cards are accepted.

Reliable
MasterCard rePower uses trusted,MasterCard network technology. And with a MasterCard card, you have zero liability for unauthorized purchases.**

How to Reload
Simply visit a participating retailer with the cash you want to add.* There are two methods to reloading your card, depending on which the retailer supports:

The Card Swipe Method
At locations that support this method, your card is swiped and the load amount is entered at the register. Your cash load will be instantly available.

The Green Dot^® MoneyPak Method
At locations that use Green Dot MoneyPaks, simply purchase the MoneyPak in the amount of the load you want to make. Then follow the instructions on the MoneyPak to complete the load to your card. Your cash load will be instantly available.

4 Kinds of Prepaid Cards (and When You Should Get One)

admin — Wed, 12 Aug 2009 15:10:23 +0000

Prepaid debit cards come in a bunch of different varieties. Sometimes it can be a bit confusing figuring out which type of prepaid card is right for you. This article gives details of four kinds of prepaid cards (so you can figure out which kind is right for you).

Prepaid debit cards come in several varieties. Each has a different purpose, but all have one thing in common: you get a card that you can use to buy goods or services. With each purchase, as the card is swiped through a card reader (or is used to make an online purchase), the value goes down. These cards are “debit” cards since there is no credit extended to you — you can only spend as much as you have on the card (or in the account associated with the card).

It also may be possible to add value onto some pre-paid cards. Sometimes fees may be associated with these cards, so be sure to ask about the potential costs. Examples of four kinds of common and popular prepaid cards include:

• Prepaid Debit Gift Cards. Think of them as high-tech gift certificates. Some are for use at a specific store or service provider (like the extremely popular Walmart Gift Card). Others are “universal” gift cards that generally can be used at any retailer that accepts credit and debit cards but usually cannot be used to obtain cash from ATMs and other sources.

While prepaid gift cards are great for birthdays or other occasions, they come with potential risks and costs. That’s why you should always read disclosures carefully and ask, for example, if a card has an expiration date that could wipe out a remaining balance after a certain time period (something prohibited under some state laws) or if fees will be deducted when the card is used – or not used. Check back with this site, as we will review some of the best prepaid gift cards for you, so you can get the best deals possible.

• Prepaid debit cards issued by financial institutions for use at a variety of businesses and ATMs. These cards generally can be used at most retailers that accept debit or credit cards. They also may be used to obtain cash from ATMs and are especially useful as substitutes for traveler’s checks. Some pre-paid debit cards also can be used to make purchases on the Internet.

• Payroll cards. With these, an employer deposits salary or benefit payments into a bank account, which an employee can access using a special debit card to withdraw cash at an ATM or make purchases at a merchant sales terminal. “Payroll cards are primarily good as substitutes for paychecks for employees who don’t have a bank account and might otherwise pay high fees to a check-cashing store,” said FDIC attorney Christopher Hencke.

• Debit cards for Health Savings Accounts. Consumers who are eligible under IRS rules for these tax-advantaged savings accounts at banks and other financial institutions can save for certain medical costs, including doctor fees and long-term care insurance payments, and then use a debit card (or write a check) to pay for qualified medical expenses.

Here is a final thought to help you get the most out of your prepaid card. If a prepaid card is lost or stolen: A consumer’s liability for a lost card may vary depending on the type of card and who is issuing it. For example, a pre-loaded card issued by a bank or a major card network may provide more consumer protections than one issued by a retailer, “but to be sure you need to shop around, read the card’s terms and conditions, and find out what to do if you lose your card,” said David Nelson, a fraud specialist at the FDIC.

Wired Plastic Prepaid Visa Card: Not Your Ordinary Prepaid Debit Card

admin — Sat, 08 Aug 2009 18:12:46 +0000

With the abundance of companies that offer prepaid debit cards, it is easy to get lost and confused, especially when you start comparing their services and fees. However, easy and convenient banking shouldn’t be that difficult. Wired Plastic offers a Prepaid Visa Card that is accepted anywhere that Visa debit cards are accepted, allows you to pay your bills online or over the phone, helps you manage the money in your account, does not charge for direct deposits, offers over 100,000 convenient locations where deposits can be made and lets you shop online.

Other than that, cardholders are also sent message alerts and account updates for free, via their mobile or through e-mail. Wired Plastic also has a rewards program that lets you earn points every time you use your prepaid debit card, just like a regular credit card. You are also given the option to choose between a debit or PIN-based transaction and a credit or signature-based transaction. Either way, it’s still convenient.

There is a one-time activation fee of $9.95 and a minimal monthly fee of $3.95, both of which are much lower compared to most prepaid debit cards.

Discover Cards — Prepaid Debit Cards are Part of Discover’s Offerings

admin — Fri, 07 Aug 2009 17:13:38 +0000

Prepaid debit cards are the next best thing to a credit card. The upside is that you don’t have to go through a credit check to get one. No need to go through a tedious application process. All you have to do is go to your nearest bank branch or, even more convenient, just go online.

Discover offers gift cards suitable for any occasion. They can even be personalized with a name and a message. With different designs to choose from—like the very feminine Birthday Cupcake, the bright and cheery Birthday Hat or Festive Hearts, the heartwarming Bundle of Joy, the romantic Love Birds or Wedding Rings, the just-like-a-gift-only-better Blue Bow and the classic yet modern Platinum Present—you can give a personalized and thoughtful present without having to tear your hair out. It saves you the trouble of having to figure out what to give your 12-year-old niece who just seems to be both too old and too young. It saves you the hassle of having to deal with the holiday traffic, only to find out that the lines inside the mall are twice as long. With a prepaid debit card, recipients are sure to get something that they will want and need, as long as the Discover Network Cards are accepted by the merchant.

The value of gift cards can range from $20 to $500. The cards can be ordered online, but there is a maximum of 20 cards or a $3,000 value per seven-day period. Normally, shipping takes five to seven business days but with express shipping available, the cards can be mailed to you in three days.

Discover prepaid debit cards can be a great marketing and public relations tool. If you want to purchase gift cards for your business, visit this link. If you wish to purchase more than 20 cards, however, you can call 1-800-868-3129.

Discover Prepaid Teen Debit Card

Banking Made Easy with AccountNow Prepaid Debit Visa Card

admin — Fri, 07 Aug 2009 00:55:02 +0000

In this time of economic and financial instability, it is more important than ever for individuals—whether single or married, especially those with children—to know how to handle their money wisely. And because credit companies are shaky, it is important to have and maintain a good credit history so as to help you later on, should you need to apply for a loan or an increase in credit limit, for example.

The AccountNow Prepaid Visa Card allows you to add money, shop anywhere, pay bills online and build your credit history. Paychecks and benefits payments can be conveniently deposited directly to your prepaid account, saving you a few hundred dollars in check encashment fees. AccountNow has also partnered with MoneyGram, Western Union, Visa ReadyLink and Green Dot, giving their card holders more than 135,000 locations to deposit cash into their prepaid accounts.

The AccountNow Prepaid Visa Card can also be used to shop online as well as in establishments where Debit Visa is accepted, saving you the trouble of having to worry about cash on hand. And with over a million ATMs available worldwide, withdrawing cash from your account is just minutes away. Bills payment can also be done online, and paying via AccountNow Bill Pay allows you to build a good payment history with PRBC, a national consumer reporting agency and credit bureau.

Signing up for an AccountNow Prepaid Visa Card can be done through their website in just minutes with a guaranteed approval once the mandatory identification confirmation is successfully completed. And because it’s free, banking has never been this easy.

Online Shopping Made Safe and Easy with an AllAccess Prepaid Debit MasterCard

admin — Wed, 05 Aug 2009 13:50:04 +0000

Technology has made it more convenient to do a lot of things. Paying bills used to mean taking at least half the day off every month; now, you can enroll your card so that the amount is debited from your account every month. No risk of forgetting to pay on time, so the danger of incurring late fees is eliminated.

Shopping has also never been this easy. If you don’t feel like going to the mall, all you need to do is log on and browse in the comforts of your own home…even while still in your PJs. No fuss, no rush. Even without a credit card, secure online shopping is possible with your prepaid debit card, as long as the merchant accepts MasterCard debit cards.

If, however, you find that an unauthorized transaction has been made using your account, all you have to do is contact the merchant and report that the transaction made was not verified by you, the accountholder. For help on matters like this, you can also call 1-866-930-9924.

Shopping and Banking Convenience with the Vision Premier Prepaid Visa Card

admin — Mon, 03 Aug 2009 18:47:36 +0000

During times of economic instability, credit companies become more cautious, and they cannot be faulted for behaving as such. As borrowers, it is our responsibility to make sure that payments are made in full and on time. In the real world, however, it doesn’t necessarily happen that way. Hence, creditors have become wary, especially in terms of approving credit cards or increasing credit limits for existing clients.

With a prepaid debit card, you get the convenience of a credit card minus the hassle, such as a credit check, monthly bill payments and late fees. The Vision Premier Prepaid Visa Card lets you make purchases or payments anywhere a Visa debit card is accepted. It also allows you to transact worldwide via ATMs with the Visa or STAR brand. The card is simply reloaded with cash via Direct Deposit or through over 100,000 retailers, such as PreCash, Visa ReadyLink, Western Union, MoneyGram, Express Payment and PayXone. You can also have your paycheck automatically deposited to your account, making sure that your prepaid debit card gets reloaded regularly.

Applying for a Vision Premier Prepaid Visa Card only takes minutes, and you’ll receive your card in just 7-10 days. After which, you will be well on your way to easy banking, convenient shopping and enjoy savings as well. There’s no activation fee and weekly fees are waived as long as you maintain a minimum of 15 transactions per month. Direct deposits and online bill payments are free of charge too, giving you more reason to get a prepaid debit card.

Circle the World with AccountNow Prepaid Debit MasterCard

admin — Mon, 03 Aug 2009 12:52:18 +0000

Are you planning on going on a cruise? Or perhaps a month-long trip to Europe? Could there also be a chance that you would be assigned to work for a year in Asia? There’s no need to cancel any existing cards or apply for a new one. With AccountNow Prepaid Debit MasterCard, you can circle the world and still enjoy the convenience that only a worldwide-accepted card can only offer.

Banking, shopping, dining, traveling and paying bills can all be done with just one card. Direct deposits to your prepaid account can be done in over 135,000 locations of MoneyGram, Western Union, Visa ReadyLink and Green Dot. And as long as the Debit MasterCard is accepted, you can use it anywhere in the world, from the fashionable streets of Paris to the techie haven in Japan.

With an ATM practically around every corner, your access to cash is unlimited. As long as you have your AccountNow Prepaid Debit MasterCard, there’s no real need to carry a lot of cash on hand, especially while traveling.

Signing up is just as convenient. Just click on the Sign Up link on their website and you’re just minutes away from having your own debit card. As long as your personal information has been verified, all that’s left for you to do is to wait for your card. And it’s even better than a credit card because you can only spend whatever money you have in your account. No hassle of worrying about credit limits and payment dates. AccountNow doesn’t charge unnecessary fees, either. So you can basically sign up for free! You can check this fee schedule to know more about AccountNow’s fees.

Prepaid Gift Cards

admin — Sat, 01 Aug 2009 18:45:44 +0000

Have you ever had the dilemma of thinking of what to give someone who seemed to have everything? Or have you panicked and rushed to the mall on a holiday, only to have to contend with other last-minute shoppers?

Or perhaps a co-worker’s birthday slipped your mind and you’re left stumped and have no idea what to give her?

Prepaid gift cards have long replaced store gift certificates, which used to give an impersonal feel. Nowadays, Visa and MasterCard prepaid cards are very much acceptable. They’re perceived as a more
thoughtful gesture now, because the recipient is given the freedom to
choose what to purchase, so you’re sure that the card holder is getting what he or she wants or needs. It’s convenient because it works just like a debit card and is widely accepted at millions of establishments where Visa and MasterCard debit cards are accepted.

It’s just a secure as a credit card and safer than bringing cash on hand, because the card can be replaced if it gets lost or stolen.

You can get a Visa Prepaid Gift Cards by visiting one of their card providers all over the country. You can also apply online through secure online vendors, such as BCU, Chase, Comerica, Commerce Bank, DeluxeCard, Desert Schools FCU, First National Bank of Omaha, Gift Card Lab, GiftCards.com, iCARD Gift Card, IDT Gift2go, National City, Navy Federal Credit Union, PNC Bank, SunTrust, U.S. Bank, Wachovia, Wells Fargo, West Suburban Bank and Wish Card Collection by Hallmark.

MasterCard Prepaid Gift Cards are available online via the MasterCard website, with five choices, each with its own card limit–Bank Freedom
Prepaid MasterCard from Bank Freedom, Key Possibilities Prepaid Gift Card from Keybank, Natalie Gulbis Gift MasterCard from MetaBank, Choose Your Own Gift MasterCard from RBS Citizens, N.A., and the Washington Mutual Prepaid MasterCard Gift Card from Washington Mutual.

Though the Visa and MasterCard Prepaid Gift Cards work like a debit card, it is not reloadable, so the initial value set by the card purchaser is the only amount that can be spent. Each time a purchase is made, the amount is automatically deducted from the card. Some cards are only for domestic use, which is apparent from the Valid only in the United States statement on the face of the card. Some prepaid gift cards are automatically activated, while some require activation prior to use. To make sure, you just have to check the information packets that came with the card.

If you find out that the remaining balance on your card would not be
enough to cover your last transaction, find out from the partner merchant if they allow split transactions, wherein you’ll pay for part of it in cash or through other methods. That way, you’ll be able to maximize the use of your prepaid gift card.

4 Kinds of Prepaid Cards (and When You Should Get One)

MasterCard is Diggin Their Prepaid Debit Card Volume as Well

admin — Fri, 31 Jul 2009 18:09:22 +0000

Yesterday, we mentioned that Visa is lovin’ the prospects for prepaid debit card growth in the U.S. and around the world.

It turns out that MasterCard is a big fan of prepaid debit as well.

In their quarterly earnings call on July 30, MasterCard announced the following:

The number of MasterCard branded cards worldwide grew 1.2% to 959 million in the quarter, and excluding the U.S., the rest of the world card issuance grew 10%. The majority of this growth was principally driven by issuance of MasterCard debit and prepaid cards. As of June 30, 2009, there were approximately 1.6 billion MasterCard and Maestro branded cards issued.

(We highlighted the part about prepaid debit and debit card growth). Folks, the MAJORITY of MasterCard (and Visa) payment card growth is in prepaid and regular debit. Prepaid and debit are the wave of the future, and the big financial services companies are bankin’ on it.