Prepaid Debit Card Reviews, Complaints, Etc

Tag: tameka riley

  • Is the GreenDot Prepaid Visa Debit Card a Good Deal or Bad?

    Is the GreenDot Prepaid Visa Debit Card a Good Deal or Bad?

    Welcome to our site! Our editors have been covering the credit and debit card space for a total of 30+ years and we are proud to have been featured by the Wall Street Journal, CNN, etc. Your input is invaluable and we’d love to have your opinion as to whether the Green Dot prepaid debit card is a good deal (see below) – this site is powered by you!

    Unlike almost all card comparison sites that only list cards that advertise with them, 85% of the cards on our site don’t pay us a dime.

    How the Green Dot Reloadable Visa Debit Card Works

    Just like many other prepaid debit cards, the standard Green Dot Prepaid Visa® Card (which is what this review will focus on) works like a bank debit card or ATM card. However, depending on what you load your Green Dot prepaid card to do, the working can vary a little. You can load the card to put money on other prepaid cards, debit cards or credit cards; and even to pay some specified bills.

    Please Note! This page was originally published a few years ago and is no longer being updated in 2021. GreenDot is focusing on promoting their new and improved Go2Bank Cash Rebate Visa- Click Here for to More Info and to Apply Online in Just Mins! (sponsor link)

    Now, depending on the service that you will be using your prepaid card to access, there are a number of benefits you may receive as compared to using bank cards. For instance, you can use the Green Dot card to get some discounts on online shopping. In some cases, you may also be rewarded with points for using the card.

    However, please note that the card has a pretty high monthly maintenance fee of $7.95 if you do not do a monthly direct deposit of at least $1,000 (which is a high amount as well compared to other prepaid Visa cards). Also, there is a $1.95 fee to purchase the card (activation fee) and a cash reload fee of $5.95, which is high as well in comparison to other similar prepaid card offers (bad features).

    Good Benefits of using the Green Dot Reloadable Visa Card

    • You can track spending on the go using the Green Dot mobile app.
    • You can apply for this prepaid debit card whether you have a bank account or not and you will not be subject to a credit check before you are provided with the card.
    • You will be able to fill other prepaid cards, debit cards or even credit cards easily with the Green Dot MoneyPak. On the same note, you can use the card to pay bills, withdraw cash from ATMs and even shop online.
    • You will have no long usage commitments. This means you can choose whether to use it or not.
    • You will not be subject to any penalty charges and overdraft fees.
    • Finally, the card is reloadable meaning that you can top up the money on the card using direct deposit, MoneyPak or even bank money transfer services.

    Important Consumer Note!

    The Greendot debit card does NOT help you improve your credit.

    Registering for Green Dot Prepaid Debit Card

    There are two ways to get a Green Dot reloadable Visa prepaid debit card. You can register online and setup your account or purchase a card at a retail location.  Both options are simple.  However, by registering online you can avoid the fee associated with purchasing a card in-store.  You will be required to load the card before you can make purchases.

    When registering, you may be required to submit some of your personal details including the provision of your social security number. After registration, you will be provided with a non-reloadable temporary prepaid card that you will use until you are provided with the reloadable prepaid card. It is important to note that the temporary card will not have access to some services like ATM usage, and it may be limited for use in the United States only.

    As per the provision of Federal laws, Green Dot will have the responsibility of obtaining, verifying and recording relevant customer information that can be used to identify them (customers). Some of the basic information that Green Dot may require from you when registering for a Green Dot reloadable prepaid debit card include your name, date of birth, social security number and address.

    Is the Green Dot Prepaid Visa Debit Card a Good Deal or Bad? (Summary)

    Please Note! This page is no longer being updated in 2021. GreenDot is focusing on promoting their new and improved Go2Bank Cash Rebate Visa- Click Here for to More Info and to Apply Online in Just Mins! (sponsor link)

    The Green Dot prepaid card may be a good deal for you, but be sure to review our other prepaid card offers which have less fees, such as the new no fee Chime Visa below, and different benefits. The monthly membership fees on Green Dot are high if you don’t have a direct deposit every month.

    The bottom line is that it may or may not be the best reloadable card for you depending on how you use it.  You should compare prepaid cards carefully to be sure you choose the prepaid card that’s most cost efficient for you.

    Related New Visa Card to Compare to Green Dot (Works Like Greendot Debit but has No Fees):

    Chime is a new Visa card that is amazingly free (unless you use the card outside of their large ATM network). This is best alternative to a prepaid card that we’ve seen in 5+ years and offers all of the benefits of traditional bank account.

    People with poor credit can apply too as there is no credit check (No ChexSystems either). Chime can be managed entirely from your smartphone. No hidden fees. No overdraft fees. No minimum balance. No monthly service fees. No transfer fees. Over 38,000 fee-free ATMs, plus 30,000+ cash-back locations.

    And for a limited time, earn a Cash referral bonus of $50 when you tell your friends and family members about Chime and they sign up (and they’ll earn $50 too)- details within the app after you apply! Click for more info.- you can apply online in just 2 mins with no obligation. Start by simply entering your email address and clicking “Get Started”– over 3 million customers couldn’t be wrong. 🙂 (Referral Link)

    Please read our review of another Green Dot offer here:

    Full Green Dot Prepaid Unlimited Cashback Debit Card Review

  • Differences between a Prepaid Visa Gift Card and a Prepaid Visa Debit Card

    Differences between a Prepaid Visa Gift Card and a Prepaid Visa Debit Card

    The Visa Gift card is a “non-reloadable prepaid” card with its initial value set by its purchaser which cannot be exchanged for cash. This differs from a prepaid Visa debit card (click for reviews of the best prepaid reloadable cards) that you can reload funds on to.  

    A Visa gift card carries the Visa logo and are accepted anywhere the Visa Card is accepted. They can be used in person at brick-and-mortar retail businesses or for online payments and purchases.  Many Visa Gift Cards are activated automatically upon purchase and can be used immediately upon purchase.  It may be necessary to activate the card if you plan on using your card online.

    The Visa Gift Card does not offer a line of credit.  Each time a purchase is made, the amount is automatically deducted from the balance on the card.  Most do not come with a pin number so it is important to use them as a credit card rather than a debit card and sign the receipt.  

    Related Visa Debit Card (No Fees, but no Expiration Date on Funds Deposited- Not a Gift Card):

    Chime is a new Visa card that is amazingly free (unless you use the card outside of their large ATM network). This is best alternative to a prepaid card that we’ve seen in 5+ years and offers all of the benefits of traditional bank account.

    It’s a real Visa debit card, (not a prepaid debit card which usually have a lot more fees) and people with poor credit can apply too as there is no credit check. Chime can be managed entirely from your smartphone. No overdraft fees. No minimum balance. No monthly service fees. No transfer fees. Over 38,000 fee-free ATMs, plus 30,000+ cash-back locations.

    And for a limited time, earn a Cash referral bonus of $50 when you tell your friends and family members about Chime and they sign up (and they’ll earn $50 too)- details within the app after you apply! Click for more info.- you can apply online in just 2 mins with no obligation. Start by simply entering your email address and clicking “Get Started”– over 3 million customers couldn’t be wrong. 🙂 (Ad Link)

    If the purchase is for less than the value of the card, the credit remains on the card until it is exhausted.  You must personally keep up with the balance on the card as the merchant may not have access to this information.

    Prepaid Visa Gift Cards Definition

    Once your gift card has been depleted, it is always a good idea to keep the card until you know for sure you will not be returning any of the items purchased with the card.  If you do need to return items, the store policy may require that you present the card you used to make the purchase.

    If your gift card states “Valid only in the United States” on the front, your issuer has issued a Domestic Use Only card.  Although your gift card will not be accepted at locations outside of the United States, it’s welcome at millions of locations within the U.S. where Visa Cards are accepted.

    Important Consumer Note!

    Any prepaid Visa card (whether a gift card or not) does NOT help you improve your credit. 🙁

    If you do not know your credit score, Credit Sesame offers your credit score for free (no gimmicks and no credit card required) & you can monitor your credit for free. Also, offers free ID Theft Protection and tips on how to improve your score.

    Sign up in just 90 seconds- start by simply entering your email. Includes tips on increasing your score. .

  • Netspend Prepaid MasterCard Review (support your fav MLB team)

    The Netspend Prepaid MasterCard Debit Card is a highly functional debit card, which makes financial errands easy and fun filled tasks – well almost. You can also support your favorite Major League baseball team by having their logo put on your card. It is issued by Netspend, one of America’s largest prepaid debit card processors. Read the full Netspend Card Rating here.

    When it comes to cash safety, this is one of the safer cards to settle for. The bank processes the card in a highly secretive way, to ensure that all transactions are carried out by genuine card holders (most prepaid card offer similar security benefits). This is effective because the bank has detailed security information pertaining to all card holders. In case a card is lost or stolen, the bank protects your account against all unauthorized transactions. What’s more, it will issue a new card on the spot to avoid any inconvenience. This is one of the better prepaid debit cards, but be sure to comparison shop on our site as their are cheaper options (be sure that is safer than cash and cheaper to than using check cashing places).

    The Netspend Prepaid MasterCard Debit Card is a card that can be used anywhere across the globe where MasterCard is accpeted. It is Better Business Bureau accredited with a BBB rating of A+ (though there are negative reviews on our site). In addition, Netspend is issued by Metabank that is a member of the FDIC, every transaction under the card is genuine due to highly encrypted information which protects the password, and other security card details. With the card, one can manage his or her finances at the comfort of his or her home. For regular travelers, the card is efficient and you do not have to walk around with huge amounts of cash.

    The Netspend.com Prepaid MasterCard Debit Card allows you to shop online too, and you can do faster transactions than carrying cash. With availability and easy accessibility of internet services across the globe, you can do your shopping online with the card as well as retail stores. It spares shoppers daily, weekly or monthly shopping hassles especially during peaks seasons such as Easter or Christmas Eve.

    Like other prepaid MasterCards, the card has a 100% guaranteed approval and there is no need for a credit check. You can get this prepaid debit card regardless if you have bad or no credit. The other feature with this card is that there are no minimum balances or overdraft fees (another benefit of most prepaid cards). There is also exclusive a savings account program you can enroll in.

    For those who love to transfer funds from one account to the other without leaving their homes, this card is offers related options. Online transactions and transfers are just a click away. Card holders can also pay their creditors online, pay bills online to avoid embarrassing moments where creditors come knocking at your door. Like other prepaid MasterCards, card holders also benefit from direct deposits from their paycheck or government paychecks.

    The Netspend Prepaid MasterCard Debit Card is also beneficial because it allows card holders to control their spending more efficiently. This can be done by tracking all transactions with online budgeting tools. Card holders also get alerts on their mobile phones on a 24 hour basis. All funds that are transacted with the cards are FDIC Insured up to the current coverage limit. Lastly, you can get rewarded with lots of Netspend card benefits. Intro APR, into APR period, Regular APR and balance transfers are not applicable as this is not a credit card.

    For more from this author visit:  Tameka Riley’s Author Page

  • Netspend Prepaid Visa Rating (Up to $5000 Sweepstakes Offer)

    The Netspend Prepaid Visa Debit Card (read full  Netspend Card Rating here) is one of the most popular prepaid Visa debit cards on the market. The card is FDIC insured. This is one of the better prepaid debit cards because it comes with excellent features which can be hardly accessed in other prepaid Visa cards.

    Account holders can run their financial errands with the card with no interest or late fees which make the card more convenient. With the card, there are no surprises as well as no credit checks. What’s more, card holders can easily have their paycheck deposited to their accounts directly with direct deposit.

    With the Netspend Prepaid Visa Debit Card, shopping is just a click away and has enabled many to enjoy an incredible shopping experience. It is widely accepted in a number of stores, supermarkets and many other shopping places. Card holders can comfortably purchase groceries, pay bills; make online purchases which save a great deal of time and buy gas among other products.

    One does not have to carry huge amounts of cash to shop anymore. It is also convenient for shopping in the sense that if you run out of cash, the card serves it purpose best since it’s widely accepted in supermarkets. There are many reasons as to why this card is highly efficient and one of the most trusted prepaid debit cards in the industry.

    The Netspend prepaid debit card is issued by highly reputable banking institutions. It is therefore a card that can be used anywhere there its acceptable with confidence. For this reason, it is a smart and excellent way of managing your finances even in the comfort of your home. It doesn’t matter which part of the globe you may be, in order to use a Netspend Prepaid Visa debit card. The card can be used in different ATMs across the globe which provides more convenience to account holders.

    When opening a Netspend account, a person has to provide factual information which will be used for identification and security purposes. This includes the name, ID card number, driving license, date of birth, and address among other vital details. These will be used for security purposes. Card holders are assured of cash safety even in the event of robbery or in case a card is lost. If an incident occurs, it is essential to notify the issuing bank immediately. This way, necessary security measures will be undertaken to secure your funds. The bank will process a new debit card and guard your account against any unauthorized transactions.

    The Netspend prepaid Visa debit card is of high quality and highly valuable. It is designed with the best technologies in order for it to serve its purpose best. Whether it is used on regular basis or not, the card will remain functional for a long time. In addition, a card holder has authority to choose and control the best value pricing plan that suits his or her personal needs more efficiently. The card is free of charge and for more convenience, it is issued online. In this connection, one can order for a Netspend Prepaid Visa Debit Card within 60 seconds.

    For more from this author visit:  Tameka Riley’s Author Page

  • Survey: Americans Need To Get More Financially Fit

    Survey: Americans Need To Get More Financially Fit

    It can often seem like there are a bewildering number of things to do in order to stay financially fit. Don’t borrow too much money. Create a budget and stick to it. Save for retirement. Squirrel away money for your children’s education.

    Now add this to the list of to do’s required in order to be financially fit: Be clear on what your credit status is. It may seem like something that can be easily relegated to the bottom of your pressing financial concerns, but that notion is misleading. Having good credit, after all, is a prerequisite for qualifying for a mortgage or a car loan or even a credit card. Furthermore, lenders look at your credit – usually your credit score – to determine how risky it is for them to hand money over to you. If you’re deemed a big risk, you either won’t qualify at all or you’ll have to pay a sky-high interest rate.

    Sadly, a new survey conducted by the financial services company Capital One found that when it comes to credit, Americans are not nearly as financially fit as they need to be. Indeed, the survey discovered that a great deal of education needs to take place for many of us to improve our financial IQ, at least as it relates to credit. Among Capital One’s findings were:

    • About one-third of Americans surveyed believe that a credit score only matters when they need to buy a house. This misconception is particularly pervasive among young Americans. Almost half of those under 35 who were polled believed this to be true.
    • The survey also pointed towards widespread confusion about the factors that go into determining a credit score. For example, over a quarter of respondents mistakenly believe that having one late payment on a bill will not damage their credit. Another 24 percent of those polled wrongly believe that age is a factor in a credit score, while 19 percent asserted that where they live is considered.
    • Although it’s free and a very smart thing to do only 30 percent of respondents had requested a copy of their credit report in that past year. Doing so allows consumers to check for and correct any errors that may be harming their credit. By contrast, 66 percent of respondents had their car’s oil changed and over half had been to the dentist.
    • Despite all of this, the survey also found that 81 percent of parents believed that their kids would have better credit than they do by the time they reach their age.
  • FTC Charges Marketers with Deceiving Small Businesses

    FTC Charges Marketers with Deceiving Small Businesses

    The Federal Trade Commission has charged an operation that sells credit and debit card payment processing services to small businesses with violating federal law.  The FTC seeks to halt the allegedly illegal practices and return money to victims.

    The defendants are Merchant Services Direct, LLC (MSD), also doing business as Sphyra, Inc., Boost Commerce, Inc., Generation Y Investments, LLC., Kyle Lawson Dove; and Shane Patrick Hurley.  The Washington State Attorney General’s Office has simultaneously filed an action against these defendants in the Superior Court for Spokane County, Washington.

     

    According to the FTC’s complaint, MSD agents also dupe customers into leasing new card processing terminals for two to four years, by falsely claiming they are either free, or that their current “swipe” terminals are outdated or incompatible with its services.  Agents then persuade merchants to sign fine-print, binding contracts falsely labeled as applications they are told can be cancelled at any time.  Victims soon discover their new lease obligation after being billed while still owing thousands of dollars on their previous lease.

    Defendants also tout on various versions of their website “Guaranteed Lowest Rates,” claiming merchants could “save 30%” with “whole sale [sic] processing” or have “anywhere from 20% to 30% savings when switching to” MSD.  According to the FTC, there are no wholesale rates, as third parties process card payments, not MSD.  As alleged in the complaint, those who call MSD’s customer service department reach employees who either won’t help or promise to waive fees and issue refunds, but do not.  Customers who were promised they could cancel the “applications” they signed with no penalty are charged substantial cancellation fees, according to the FTC’s complaint.  Generally, only in response to complaints filed with the Better Business Bureau and state attorneys general have the defendants refunded money or waived fees.

    The Commission vote authorizing the staff to file the complaint was 4-0.  The complaint was filed in the U.S. District Court for the Eastern District of Washington.  In addition to filing the lawsuit, the FTC has sought a court order immediately halting the unlawful practices along with an order freezing the defendants’ assets and appointing a receiver over the corporate defendants.

    The FTC acknowledges the assistance of the Washington State Attorney General’s Office and the Better Business Bureau of Eastern Washington, North Idaho, and Montana.

    For more information, visit:  http://www.yumanewsnow.com/index.php/news/latest/3872-ftc-charges-marketers-with-deceiving-small-businesses-into-buying-credit-debit-card-processing-services-and-equipment

     

Prepaid Debit Card Reviews, Complaints, Etc