Tag: tameka riley

New BlueBird Prepaid Debit Card Now Offering Checks

Since American Express launched the BlueBird Prepaid Debit Card, it has offered a fabulous product for the unbanked. Starting out as a prepaid American Express debit card, it serves many of the same functions of an online checking account. Working in concert with WalMart, users can load deposits free of charge, make ATM withdrawals, use online billpay, track spending and set limits, all without the extra fees banks often charge.

Adding even more benefits to their product, BlueBirds now offer its users the ability to order physical checks right from their online account. Though the website shows fees associated with ordering physical check, checks are actually free until May 21^st. Shipping is also free. With this new move, American Express has effectively turned 4,000 WalMart stores into bank literal branches.

In some ways, the BlueBird is actually better than a traditional checking account without the extra fees piled on since the passage of Dodd Frank Financial Reform Bill. According to American Banker, “American Express (AXP) has just given its checking account alternative, BlueBird, more bank-like checking account features. It has added FDIC insurance, increased the amount of money a customer can place in an account and added physical checkbooks. The New York credit card company said Bluebird customers who can already deposit checks by snapping a picture from their smartphones, electronically pays billers and send cash to friends, can now place up to $100,000 in an account at any one time.” Funds received from BlueBird are moved to Wells Fargo within 24hrs, allowing the funds to be protected via FDIC insurance coverage.

For more information on the American Express BlueBird Prepaid Debit Card, visit www.bluebird.com.

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

April 12, 2013

Mossy Oak Prepaid Debit MoneyCard (Walmart)

Note! This card does NOT help you build credit. Click here to compare secured credit cards (which are similar to prepaid cards) that help you build or rebuild your credit.

Also, a few secured cards do not charge annual or monthly fees, unlike the monthly fees charged by prepaid cards. (Ad Link*)

By Shane Tripcony
In December 2012, the Mossy Oak Walmart MoneyCard made its debut at nearly 2,000 participating Walmart stores nationwide. The prepaid Debit MasterCard is issued by GE Capital Retail bank with program management provided by Green Dot Corporation. The Mossy Oak card is reloadable and helps users manage their money conveniently and safely without the worry of overdraft fees or penalties. The card does not require a credit check or bank account and can be used anywhere Debit MasterCard ® is accepted. Reloading is easy, with cash and checks at Walmart stores or online at walmartmoneycard.com.

Debuting during hunting season, the Mossy Oak Card, features the Break-Up Infinity ® camouflage design. The Cards can be found on sale at participating stores in the Walmart MoneyCenter, in the check-out lanes, as well as in the hunting section of Walmart participating stores.

“It makes perfect sense, with all the offerings Walmart has for hunters and outdoors enthusiasts, that there is a Mossy Oak camouflage card option,” said Chris Paradise, Senior Vice President/Chief Sales Officer at Mossy Oak. “Walmart produces many specialty cards and now there’s one for hunters!”

Mossy Oak is owned and operated under its parent company, Haas Outdoors, Inc. The mossy oak patterns can be found on a multitude of products worldwide. Green Dot is a publicly traded bank holding company primarily regulated by the Board of Governors of the Federal Reserve System. For more information on Green Dot, visit greendot.com.

April 11, 2013

Durbin Amendment Not Slowing Debit Card Marketing

With the estimated 42 million offers for new debit cards that hit American homes in 2012, it’s no wonder how debit cards remain the most popular plastic payment type among Americans. In 2012, debit purchase volume jumped 12%, versus an increase of only 8% for credit card purchases.

Comperemedia reports that bank offers for new debit cards increased over 6%, despite the October 2011 Durbin Amendment which caps debit swipe fees and profitability for banks. While direct marketing volumes are up only slightly, it’s taken two years for banks to determine how to tackle debit cards, resulting in new ad content that has changed drastically. Consumers are now encouraged to use debit cards for security and convenience for everyday purchases. High value incentives have become a thing of the past, replaced by incentives with a much lower value while reward programs entice customers to take advantage of new card features.

“Banks have a vested interest in increasing debit card usage, as increasing volumes will increase revenue,” said Susan Wolfe, VP of research at Mintel Comperemedia. “Getting customers to use their debit cards throughout their day could have a big impact in transaction volumes and thus the revenue.”

April 9, 2013
Tax Refund Cards

Try this as an exercise sometime. If you owe money to the Internal Revenue Service (IRS) or pay quarterly taxes, log onto your bank account to see just how quickly the check you send them gets deposited. It’s fast, very fast. And to be fair, the IRS is pretty speedy itself when it comes to issuing tax refunds.

But just how fast the IRS gets that cash back to people depends on a few factors, including whether or not a return was filed electronically and whether a taxpayer has a bank account. In the case of people who have an account and opt to have their refund directly deposited, the wait can be as little as 10 days. For those lacking a bank account, though, the delay can be much longer, though the IRS says that it expects over 90 percent of refunds to be issued in less than 21 days this year. Still, if someone chooses to have the IRS mail them a check, the wait is longer to actually receive the refund and often includes a 5-day waiting period for the check to clear their banks. Additionally, if a refund check is lost, stolen or returned to the IRS as undeliverable, a replacement check cannot be mailed until 28 days after the original check was mailed.

For those without bank accounts who want to receive their money ASAP – which is probably everyone, especially given that the average refund over the past few years has been about $3,000 – a prepaid debit card can help. Almost any prepaid debit card can be used to receive your tax refund via direct deposit. Some states, such as New York, also permit their tax refunds to be sent to prepaid debit cards as well. Some taxpayers may benefit from having their refund go to a prepaid card even if they do have a bank account; it can mean that a few thousand dollars doesn’t get lumped in with their regular spending rather than safeguarded for a specific project or purchase.

Tax preparation companies like H&R Block understand the need some people have to get their refunds quickly and offer prepaid cards of their own. But as with any prepaid debit card, those used to receive tax refunds charge a variety of fees, including for withdrawing money and other activities. Indeed, H&R Block’s Emerald $2.50 to withdraw cash from an ATM and levies an additional $2.50 if an account is inactive for 3 months. Weighing whether the fees are worth the quick refund is an important part of deciding if a prepaid debit card is the right choice.

March 12, 2013
MasterCard Prepaid Gift Cards

It’s a dilemma that the choosiest among us are bound to face. We receive a Target or Walmart or some other retailer-specific gift card from a friend or relative and, whether we tell anyone or not, just can’t find something we want. Instead of admitting to being a total prima donna, we just put the card in a drawer and forget about it. Avoiding that kind of wasteful situation is just what the MasterCard Prepaid Gift Card is meant to do. With worldwide acceptance at millions of locations, the recipient of one of these cards is never limited to what’s available in just one store. In fact, with the ability to use them for online payments and purchases, MasterCard Gift Card holders aren’t even limited to the brick and mortar world. Depending on the issuer, most gift cards can also be personalized with photos, a personal message, or the recipient’s name.

For the most part, a MasterCard Prepaid Gift Card works just the way you would expect. The purchaser of the card selects a funding amount – one that cannot be added to later on – that cannot be exchanged for cash. Whether you opt to personalize the card is up to you, but each one carries the MasterCard logo and is accepted anywhere Debit MasterCard cards are accepted. Safer than an envelope stuffed with $20 bills and much more flexible than gift certificates, card recipients also have access to 24/7 customer service and balances are protected from unauthorized use.

While that is all straightforward, there are some wrinkles to how MasterCard Prepaid Gift Cards – which are available at bank branch and retail locations as well as online and over the phone – work that recipients should know. Though many come already activated, you’ll need to check your card, receipt or packaging for any specific instructions. Also be sure to look at the front of the card to see if there is an expiration date; most don’t have them, but better to know whether it does right away. Users of these cards should also be aware of something known as a “split tender” transaction. This is when the purchase you’re making is for less than the value of the card. What normally happens in this case is you simply tell the cashier how much to deduct from the gift card and then provide another form of payment to make up the difference. Be aware that some merchants won’t do this and always know your balance ahead of time, since some stores won’t be able to access that information. Finally, don’t toss the card after you actually do make a purchase. If you opt to return an item, you’ll need to show the card to the cashier in order for the money to be credited back to you – remember, you can’t get cash by using gift cards.

March 12, 2013
American Express
The American Express Prepaid Debit Card offers the user the same convenience and security of a typical Prepaid Debit Card, but also offers benefits typically reserved for credit card users. With features such as Purchase Protection, Roadside Assistance, Global Assist Services and Entertainment Access, American Express offers advantages not typically available with most prepaid debit cards.

American Express is one of the few cards with no recurring fees. Check out these features:
- No Annual Fees
- No Monthly Fees
- No Customer Service Fees
- No Transaction Fees
- One Fee Free ATM Withdrawal Monthly
American Express’ new prepaid debit card, Bluebird, presents some exciting opportunities to rack up points. Points can even be earned on expenditures that you can’t ordinarily use a credit card for, like mortgages, insurance, and homeowners fees. Like other prepaid debit cards, getting the card does not affect your credit.

Bluebird doesn’t carry any of the usual fees for prepaid cards. There are no transaction fees, load fees, ATM fees are waived when you set p direct deposit, and use a MoneyPass ATM, no foreign transaction fees and most importantly no bill-pay fees.

You can load up to $10,000 on this card, unlike other prepaid cards with much lower limits around the $2,500 mark and it can be linked to a checking or savings account.
February 22, 2013