Ace Elite Visa Prepaid Card Review | Best Prepaid Debit Cards
Ace Elite Visa Prepaid Card Review | Best Prepaid Debit Cards
The ACE Elite Visa Prepaid Debit Card is offered in a partnership with NetSpend and is easy to get. Since it’s a prepaid card, where you have to load it with money before you can use it, there are no credit checks and no ChexSystems check. The funds on the cards are insured by the FDIC pretty much like a bank account would, and the fees are in line with the competition.
The ACE Elite Visa Prepaid Debit Card can be used as an online checking account for anyone who can’t open a checking account because of bad credit or is looking for a second chance checking account because they’ve been reported to Chexsystems. Prepaid debit cards such as this one, the NetSpend Prepaid Debit Card, the Rush Card or the Excella Card (just to name a few) are considered to be safer to use than cash. The card is accepted anywhere where Visa is accepted, including international merchants. However, an international ATM fee may be applied when the card is used at an international ATM.
The ACE Prepaid Visa card comes in two basic plans, the “Pay as You Go” and the “Fee Advantage” plan. If you’re going to use the card as your primary payment method, the Fee Advantage plan is what you want. On the other hand, if you’re planning on using it primarily as a backup, then the “Pay as You Go” is the right choice for you.
Reloading Your Card
Where a lot of prepaid cards like to try and differentiate themselves is in their reloading options. Money can be deposited on the Ace Visa Prepaid Card in several ways. The best one is obviously direct deposit; free account-to-account transfer online comes second (there’s a charge if done by a customer service rep on the phone), and visiting one of the many reload centers in the United States comes third (ACE Cash Express locations don’t charge for this service, but other places do and the charge depends on the distributor).
Fees
As with all prepaid debit cards, you have to pay attention to the fees. There is a fee for both signature ($1.00 each) and PIN ($2.00 each) purchases for the pay-as-you-go customer. As we pointed out previously, this plan is for people who do not use the card often enough to justify paying a monthly maintenance fee. For those who will use the card more often, there is a monthly maintenance fee of $9.95 if you don’t have direct deposit and $5.00 if you do. In the latter cae, there is no fee for signature or PIN purchases. If the account is dormant for 90 days, a small account maintenance fee will be charged. A fee is also charged to replace the card if it is lost or stolen. The account balance is transferred to the new card once the old one is reported missing and the replacement card is ordered.
Due to the fact the card is insured by the FDIC, it is safer than cash in that the money is insured up to a specified amount. The card is also safer than cash in that cash that is lost is gone forever. A card that is lost can be replaced. The card also works better than a checking account in that only what is in the account can be used and nothing more, resulting in no overdraft fees.
Summary
- A card with benefits that matter to you
- No credit check, No application fee, No obligation
- No-Fee Cash Withdrawals at 1,600 + ACE Cash Express locations with direct deposit (daily limit applies)*
- Free unlimited purchase transactions with paid enrollment in FeeAdvantage Plan
- Free Direct Deposit – Get paid up to 3 days faster than with a paper check with free direct deposit of your paycheck or government check: don’t stand in line or pay check cashing fees*
- Free Anytime AlertsTM – Get your balance and transactions via text or email*
- Free Savings Account – Receive 5.00% APY*
- No overdraft fees or minimum balances
- Secure: Card funds are FDIC insured and protected from identity theft and unauthorized transactions if card is reported lost or stolen (backed by Visa Zero Liability*)