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Bank Freedom MasterCard Prepaid Expense Card



Average Monthly Fees and Costs:

Product Details:
  • Make purchases at millions of locations worldwide everywhere Debit MasterCard is accepted
  • Through Bank Freedom Pay Anybody Bill Pay you can pay any payee for just $1.00 per Bill Payment.
  • Free Card Alerts- email and/or SMS alert, (standard text messaging rates from your wireless service provider may apply) for better monitoring your account.
  • Get cash at over 1.5 million ATMs worldwide that display the MasterCard®, Cirrus®, or MoneyPass® Acceptance Marks.
Activation Fee: $0.00
Monthly Fee: $5.00 or FREE* *Every month you load $500 or more on your Card we will waive the $5.00 Montly Maintance fee
Card Limit: $20,000
PIN Transaction Fee: $0.00
Signature Transaction Fee: $0.00
ATM Withdrawal Fee: $ 2.50 (per transaction) MoneyPass Surcharge-Free ATM Location
ATM Balance Inquiry Fee: $0.50
ATM Out of Network Withdrawal Fee: $ 2.50 (per transaction) Plus any additional Surcharge fees by the owner of ATM
ATM Out of Network Balance Inquiry Fee: $0.50
ATM Withdrawal Limit: $0.00
Bill Payment Fee: $0.00
Bill Payment Limit: $0.00
Bank Teller Cash Fee: $0.00
Bill Pay Expedited Service Fee: $40.00
Inactivity/Maintenance Fee: $0.00
Wire Fee: $0.00
ACH Debit Fee: $0.00
Card Purchases (SIgnature) Daily Limit: $20,000.00
Card Purchases (PIN) Daily Limit: $20,000.00
Send Money Limit: $0.00
Card Reviews: ,

Things We Like

This is an easy way to track employee expenses and to get company funds of authorized employees when they need them.It can be a good option for businesses with poor or no credit.

Things We Dislike

Prepaid debit cards mean there is no “float” between the time money is spent and when it leaves the company bank account. In addition, traditional credit cards may offer more consumer protections.

PostedOctober 3, 2013 by

Full Article

The Bank Freedom MasterCard prepaid expense card is geared toward businesses that authorize employees to make purchases. It can be monitored in real time, with funds moved as needs dictate. As with other prepaid debit cards, there are no over-limit fees or credit requirements.

Bank Freedom’s entry into the still-small expense card space could be useful to new businesses or those struggling with poor credit. The cards are issued by Bancorp Bank and are FDIC-insured. Employers are free to limit authorization to signature purchases. The card has minimal fees (no monthly fee, but a $35 per year annual fee). Funding can be by wire or from a linked bank account.
Bottom line:This card is easy to understand and without hidden fees. It works differently from a personal prepaid debit card in that features such as bill pay do not exist. Individual cardholders do not receive PINs, nor can they make ATM withdrawals. While text notifications are available, they go to the account owner, not to individual cardholders.
• Setup fee: none
• ATM transaction fee: not applicable
• Monthly maintenance fee: none (but a $35 annual fee)


Curtis Arnold