The No-Fee $10 purchase cushion is a feature offered by Ace Cash Express and NetSpend on the prepaid debit cards that they issue.

It works exactly as its name suggests. We all know how prepaid debit cards work: you load the card, and then you get all the convenience associated with a debit card, until your balance reaches zero. Typically, a prepaid debit card will not authorize any transaction for an amount greater than what is on your balance, even if it’s a couple dollars. So let’s say you have $52 dollars left on your account but need to pay for a $55 purchase. Most prepaid cards would decline the transaction. With a no-fee $10 purchase protection, your transaction will be approved as long as your shortfall is $10 or less.

Now that doesn’t mean that you were extended $10 worth of credit; on the Ace Cash Express website, they call it a non-contractual courtesy, and you are expected to pay that money back as soon as possible. It doesn’t look like it’s much, but when you consider that you don’t have to pay any overdraft fees for that feature, those debit cards certainly differentiate themselves from the competition.

No Fee $10 Purchase Cushion | Best Prepaid Debit Card Features

ChexSystems is a reporting bureau that financial institutions such as banks use to screen people who come to apply for new checking accounts. If you find yourself unable to open a checking account, chances are that it’s because you have been reported to Chexsystems.

As a reporting bureau, ChexSystems is the equivalent of Equifax, TransUnion or Experian. Its only clients are the banks that use its services. So only a bank can have your name listed on Chexsystems and in most cases (with the notable exception of identity theft cases) it will be up to a bank to write and ask to have your name removed from the list.

Having your name appear on ChexSystems’ report means that most major banks will deny you a checking account. The major banks such as Chase obviously use ChexSystems. The smaller banks have slowly but surely been using the information too, although it is worth pointing out that ChexSystems itself doesn’t approve or deny your account. It’s solely the bank’s decision; they just use ChexSystems’ information to make that decision.

About PNC Bank

Established in the 1800s, PNC (Pittsburgh National Corporation) Bank has grown to be one of the leading financial service organizations in the country. With more than five million customers, and assets of approximately $264.3 billion as of March 2011, it operates 2,400 branches and 6,500 ATMs in 15 states. PNC Bank uses ChexSystems to screen out prospective customers. If you’ve applied for a checking account at PNC and been rejected, you should definitely look into options offered by banks that do not use ChexSystems.

Prepaid Debit Cards You Can Use Like Checking Accounts

Here’s a (partial) list of prepaid debit cards that can give you most of the options and convenience that you would get with a regular checking account. They’re easy to get, and can be used anywhere a regular debit or credit card is accepted.

• BBVA Compass SafeSpend Prepaid
• Ready Debit Card
• Green Dot Gold Card
• UpSide Prepaid Visa
• Mango Prepaid MasterCard
• American Express Prepaid
• Walmart MoneyCard

Does PNC Bank Use ChexSystems?

One of the side effects of the recent financial legislation is that banks and other financial institutions have been looking for ways to make up for lost revenues. Besides the fact that free checking is now an endangered species, we have witnessed more and more companies offering prepaid debit cards. BBVA Compass is one of the latest to do so, with the SafeSpend Card, a reloadable, prepaid VISA® debit card.

If you can’t open a checking account, or are looking for a debit card for your teenage son or daughter, or are a regular of local check cashing stores, you might want to take a look at the BBVA Compass SafeSpend Card. Like all prepaid debit cards, you only have to be 18 and be able to present a photo ID; there is no credit approval required, and no checking with ChexSystems. So even if you have bad credit or have your name on the ChexSystems database, you can still get the SafeSpend card and make purchases offline, shop online, as well as manage bill payments with a debit card.

Related: Bank accounts for minors

Once you apply for and get the SafeSpend Card, funds can be direct deposited onto the card, transferred from an existing BBVA Compass checking account or reloaded at any Visa ReadyLink location.

About Visa ReadyLink (From the Visa website):

Add money to your card wherever you see the Visa ReadyLink symbol.

It’s fast and easy to load your Visa Prepaid card* with additional funds at places conveniently close to where you live, work or shop. You can quickly add funds to your cards at these stores:

• MoneyGram Agents
• Safeway
• 7-Eleven®
• Circle K (at TIO Kiosk)
• ExxonMobil (at TIO Kiosk)
• Maverik (at TIO Kiosk)
• Carrs
• Dominick’s
• Genuardi’s
• Pak ‘n Save
• Pavilions
• Randalls
• Vons
• Tom Thumb

The SafeSpend Card is available for a flat $4 monthly service charge and carries a host of features such as direct deposit, online banking, bill payments, email/text message alerts, unlimited PIN and signature purchases, and your money is FDIC-insured.

Reloading or performing a balance inquiry at a BBVA Compass ATM is free but there is an initial loading of funds charge of $4 and withdrawals at BBVA Compass ATMs cost $1 each. However, SafeSpend cardholders won’t be able to do much in-branch banking or write checks. The lack of check writing capabilities is disappointing but not a deal-breaker.

Also, prepaid debit cards are ideal for teens and young adults looking to getting their first payment cards as they can help control spending. Then again, those cards are most beneficial once people have learned how to budget and manage their money in a responsible manner. It’s not possible to spend more than the available balance on the account, which obviously means there are no overdraft charges on the SafeSpend card. It also means that for teens, this can represent the first “real” lesson on how money works.

“The SafeSpend Card is a great money management tool for parents who aren’t ready to give their kids credit or debit cards,” said Jon Mulkin, Director of Consumer Segment Group at BBVA Compass, in a press release. “We also expect the card to be popular among people who want to designate their spending money for special purchases like vacations.”

From a cost perspective, a quick review of the terms and conditions suggests that the product isn’t exactly at the low-end of the cost spectrum, but it does establish the beginning of a relationship with the bank, and offers most of the conveniences that come with regular debit cards.

BBVA Compass SafeSpend Debit Card Review | Prepaid Cards For Teens

The ReadyDebit card is a prepaid debit card. When you apply for your Ready Debit card you can enjoy most of the same features of having a regular checking account. We don’t think there’s really a need to go in depth about how prepaid debit cards work: you use various methods to load money on to them; once that is done, you can use the card until you run out of money. Since the card is designed so that you can’t spend more money than is on the card you have to reload it if you want to keep using it. That’s it, in a nutshell.

So why pick this prepaid debit card over another one? Well it’s going to hinge on three factors: convenience (how easy is it to get the card and put money on it), features (what does the card actually allow you to do) and fees (how much do you get charged). You want to find the easiest to get prepaid debit card that offers the most convenience and features at the lowest fees. In most cases, you’re going to have to compromise. So how does the ReadyDebit prepaid card fare in each of those categories?

Related post: BBVA Compass SafeSpend Debit Card Review

Convenience

• The READYdebit™ Card is a debit card that is designed for people who have very poor credit and/or can’t open a bank account. There is automatic acceptance for everyone who applies and can verify the information they provide because it is a prepaid card and no credit lines are extended. Ready Debit does not require any kind of credit check.
• The READY Debit card offers much of the convenience that credit cards offer: the card is honored anywhere that Visa cards are accepted.
• It allows you the freedom to shop and pay bills online, as long as you have the money available on your card. You can shop as much as you want within your account balance with no limit online or at stores, anywhere debit Visa is accepted.
• You have access to your cash at millions of ATMs worldwide
• You’re covered by the Visa Card Zero Liability protection plan: carrying your card is safer than carrying cash and even in case of theft or loss, the Visa Card zero liability coverage protects unauthorized usage of your card.

Features

• You have the ability to load the card at more than 50,000 retail locations using Greendot MoneyPak or Visa ReadyLink. Be advised that there may be a service charge attached to loading your card via these methods.
• Free Direct Deposit. You can get your paycheck directly deposited and those funds will be available to you faster than most banks or check cashing locations. You can access your money up to two days faster with direct deposit by depositing your pay check directly into your account.
• Other Free reload options: Retail Cash Load and Bank ACH Transfer are free.
• The funds in the account are fully FDIC-insured
• FREE online bill paying feature, mobile banking, and online bill paying. You can now pay your bills online for free instead of paying to get money orders or going to the location to pay in cash. This is a much better way to take care of the utility bills.
• FREE online check writing. If the company does not accept electronic check, you can print your own check and mail it to them.
• FREE credit score tracker to help you monitor your credit profile. The card has a credit builder option: when you sign up for online bill pay, you can work on rebuilding your credit score. On-time payments are reported to PRBC to help re-establish and re-build your credit through responsible and regular use of the card. PBRC has yet to gain mainstream acceptance, though.
• No overdraft fees

Fees

The Ready Debit Card comes in three versions – the “Control”, the “Select”, and the “Platinum” versions. Here’s the fee schedule (as of Aug 4th, 2011)

Fees		Control			Select		Platinum
Card issuance		$9.95			$9.95		$9.95		This is a one-time fee, and is not charged until you make your first deposit.
Monthly service		Free with at least $1500 in monthly Direct Deposit, otherwise $3.95			$9.95		$14.95		A great deal—and a whole lot better than check-cashing fees, wire-transfer fees, interest payments, late fees, …Your first monthly fee is charged one month from the day you order your card.
Secondary Card		Not Available			$10		Free		Two cards can access the same account by adding a secondary card. Call 866.465.1645 to set this up.
Signature transactions		$0.95			Free		Free		Other companies charge $1 or more per transaction
PIN transactions		$0.95			Free		Free		Other companies charge $1 or more per transaction
Negative Balance Fee		Free			Free		Free		Really!
Direct deposit		Free			Free		Free		Save time and money-sign up for free direct deposit to your READYdebit card account.
Loading cash & deposits via bank ACH transfer		Free			Free		Free		You can load cash to your card with Visa ReadyLink and Green Dot MoneyPaks. Each store charges a fee to complete the transaction.
ATM withdrawal		$2.25			$2.25		$2		Remember that the ATM owner may charge a fee, as well. Be careful with these—they can add up. Many stores will offer cash back when you make a purchase-buy a pack of gum and skip the ATM fees.
ATM withdrawal decline		$1.95			None		None		Check your balance online before making the request.
U.S. ATM Balance Inquiry		$0.50			Free		Free		Check your balance often-it’s an important part of good money management.
Online customer service		Free			Free		Free
Automated phone support		Free			Free		Free		Check out our FAQ for answers to many questions.
Live customer service		$2 per call		1 free call per month, then $2 each			Free
Online bill pay		Free			Free		Free		A great way to pay your utility bills, rent or even your babysitter.
Bank teller cash advance		$5			$5		$5		Save a few bucks and use an ATM instead.

Summary

The ReadyDebit Visa reloadable prepaid card is ideal if you have been turned down for a traditional checking account (usually by getting reported to Chexsystems) and wish to take advantage of features afforded to checking account customers. It offers an affordable checking-account alternative for people with bad credit who either are non-banked or have a checking account with frequent overdraft fees that are costing them hundreds dollars in fees each year.

Ready Debit allows benefits you with free online payment, free online cheque writing, and access to over a million ATMs. The card offers flexibility in terms of maximum deposits and fees charged. When cardholders use prepaid Visa to pay their bills online they automatically earn positive credit to their account. When bills are paid on time online, it gets automatically reported to PRBC which allows you get a lower rate of interest if you applying for loans later in life.

However, bear in mind that having a prepaid card does not help you rebuild your credit. As previously mentioned, PBRC (while not a scam) has yet to get known to the point where it can be a major player. So the credit-building benefit of the card is rather limited. If you need to rebuild your credit, then a better and more efficient path is to get a secured credit card, also known as a second chance credit card.

ReadyDebit Card Review | Prepaid Visa Debit Cards

Just a few short years ago, prepaid debit cards were only offered by a handful of financial institutions besides local check cashing centers. Nowadays, because of the recent financial legislation, most banks have had to find a way to make up for the revenue they stand to lose from other financial products. That is why even American Express has a prepaid debit card. But it looks like it’s a lucrative product, because even Walmart got into the act with its very own prepaid debit card, which is the subject of this review.

The card is issued through GE Money Bank and Walmart has partnered with the Green Dot Corporation to provide additional services. Like most prepaid debit cards, this card is designed for (and marketed to) people who, because of past financial mistakes, can’t open a traditional bank account. This includes people who may have filed for bankruptcy, have been reported to Chexsystems, or who have bad credit. Those people will be happy to know that there is no credit check to qualify, and you don’t need a bank account either. All that is required is for you to be 18 or older, and to be able to give ID so they can comply with financial regulations. Minors between 16 and 18 need parental authorization. Once that is taken care of, you will be eligible for a reloadable Visa debit card. There is a $3.00 issuance fee.

Since the card carries the Visa logo, you can use it anywhere Visa is accepted, which means tens of millions of locations worldwide. So you can use your card for everything: pay bills, buy groceries, shop online, you name it. Once you receive you Walmart MoneyCard, you can log on to their website with your information and be able to access your prepaid card information, including balance, transaction history, etc. You can also access your account via phone and keep track of your balance via text alerts. Your money is FDIC insured and it is protected under Visa’s zero liability policy. This means if your card is lost or stolen, your money is still protected.

Whenever you use your Walmart MoneyCard to pump gas you will get 1% back in cash! This is a great option not offered by any other prepaid debit cards.

Ways to reload

1. With cash at Walmart (any amount from $20 to $1,100; $3.00 reload fee)
2. By check at Walmart (any amount from $20 to $1,500; no reload fee, $3.00 check cashing fee) – not available in NJ, NY, and RI
3. Direct Deposit (no fee)
4. With a MoneyPak ($4.95)
5. With an online bank transfer (no fee)
6. With Walmart Moneycenter Express ($3.00 reload fee)

Besides that, here are the other fees associated with the card: a $2.00 fee for cash transactions at an ATM, a $1.00 ATM balance inquiry fee, a $3.00 monthly maintenance fee (waived if you load at least $1,000 during the month onto your card), a $3.00 lost/stolen card fee, a $20.00 fee for rush delivery, and a 2% fee on foreign transactions. If you would like a monthly statement, they will charge you $3 per month.

Although there are many different cards available on the market, Walmart MoneyCard Visa offers some of the best values due to how simple it is to use and the unique features it offers. It is a pretty basic Visa prepaid card, and although it does have some fees associated with it they are not outlandish or too numerous: they offer ways to use the card for free depending on how much you load on the card each month. There is no credit check so it is a good card for those with poor or no credit, and it is accepted worldwide.

Walmart MoneyCard Prepaid Debit Card Review

The Green Dot Visa is a prepaid debit card and is one of the most popular prepaid cards on the market today, because it is widely used by people that do not have a bank account: there is no credit check or bank account needed for approval. Also, while you can quickly get into too much debt if you use credit cards, prepaid cards like the Green Dot prepaid card are a great way to limit your spending. You must first deposit money on your card before it can be used to make purchases. It is a great alternative for those without a checking account because it will save you money on check cashing fees, approval is guaranteed, and it works just like a checking account.

Features

Green Dot cards are available for both Visa and MasterCard and the terms and conditions with both cards are the same so it’s only a matter of preference whether you want the MasterCard-branded or the Visa-branded card. In any case, they’re accepted worldwide. Here’s an overview of what to expect:

• $0 Activation Online –with no credit check
• Free ATM withdrawals at over 15,000 MoneyPass ® ATMs
• Get a $4.95 credit on your first MoneyPak cash load (see site for restrictions)
• No Monthly fee for any month with at least 30 purchases
• No Transaction fees on US purchases
• No Overdraft or penalty fees
• No Minimum balance required
• Get $10 with Direct Deposit (see site for restrictions)

How to Reload

The best way to add money to your Green Dot Prepaid Visa Card is to set up direct deposit of your paycheck or government check. When you set this up and receive your first deposit you will be given a $10 bonus! You have the option of depositing our whole check or just a portion of it. You can also load money onto your card using the Green Dot MoneyPak Card, which is available at thousands of retailers nationwide. You also have the option of loading your card directly from your bank account, credit union, or other financial institution. Most banks allow for online transfers onto your card as well.

Pros

There is no credit check and no interest to pay. There are no late fees, either, and you can use this card anywhere in the world that Visa or MasterCard is accepted. For a prepaid card the fees are not too steep or too numerous. It is very user friendly to setup and to deposit money on, and doesn’t require a bank account. There is no minimum balance requirement.

Parents have found this card useful to use as a debit card for kids. Additionally it is an easy way to send students money that are away at school.

Cons

This is a prepaid card. As such you have to deposit cash to activate it and you will be charged various transaction and maintenance or activation fees. If you can get accepted for a regular credit card or maybe a secured credit card for people with bad credit, that would probably be a better option, but of course you have to be able to come up with the collateral.

Verdict

The Green Dot Prepaid MasterCard is ideal for those looking for the convenience of a credit card and the financial security of a debit card. It has no overdraft fees or minimum balance requirements, plus there is no credit check at the time of application, and you do not need a bank account to qualify. The GreenDot Visa Prepaid card is one of the safest cards in the industries from a brand with a great reputation and is definitely a very good choice.

Green Dot Gold Card Review | Prepaid Reloadable Debit Cards 

The UPside Visa® prepaid card is a reloadable Visa® debit card. It’s not only one of the best prepaid debit card for kids (primarily intended for the 13-25 year old age group), it’s also a great checking account alternative for people who can’t get a bank account. In 2011, the winner of the best consumer-friendly prepaid card went to the UPside Prepaid Visa card.

You can basically enjoy the convenience of a paying with plastic without incurring the debt and interest charges that comes with it. It functions like a debit checking account; you can even have secure checks issued from the account itself. This prepaid card has 100% approval with no credit checks and no activation fees. With zero activation fee, a unique personal check writing feature and companion card availability, this card is a great all-around value.

Because the cardholder can’t spend more than the available balance, and charges made to the card occur in real time, you can closely and securely monitor spending. It becomes a great tool to teach money management skills and basic financial literacy.

Parents can transfer from checking accounts free of charge and have online and real time access to the card holder’s purchases. The UPside Prepaid Visa works like a checking account, and you can use it anywhere Visa is accepted. This card offers you the features of a checking account with the flexibility of online account services, and has some of the lowest maintenance fees of any prepaid card program on the market.

With separate online access for both parents and teens as well as premium services for cardholders over 18 years of age, the UPside Visa® prepaid card represents freedom for cardholders (whether they are teens or college students) and peace of mind for parents.

As a parent or guardian, you are the legal owner and signatory of the card contract. There is no credit check to obtain this card, so applying for the UPside Visa® prepaid card will not affect your credit as a parent. Your student or teen is the designated cardholder.

Features

• Save up to $220 compared with other cards, the first year alone

• 100% approval with no credit check and no activation fee.

• $0.99 monthly fee if $500 is loaded each month. (Only $2.99 otherwise). There is also a $2.00 fee for phone contacts to customer service.

• Free Direct Deposit from employers or deposit cash at 50,000 retailers.

• Write personal checks online and get them mailed: easy to pay bills (electricity, cable, rent, car payment). You get to write the first one free and then $2.00 for each additional check. To use this simply log in online and fill in the necessary info – the person to be paid, the amount, and the date of the payment.

• Earn 1,500 cash back reward points for you first direct deposit load.

• Optional companion card available, as if you had a joint checking.

How to load the card

• Direct Deposit: You can have your paycheck or benefits check deposited directly on to the UPside card for free. This is the easiest and cheapest way to load the card, and it avoids expensive checking cashing fees you may be paying now.

• Load Cash: You can load cash onto the card by using a Green Dot MoneyPak. MoneyPaks can be purchased at CVS, Walgreens, Cumberland farms, Rite Aid, Hess, or about 50,000 additional retailers, but there is a fee that is typically about $4.95.

• Bank Transfer: The UPside Visa can be loaded through a transfer from a bank checking or savings account.

• Load from Another UPside Card: If a friend or family member also has an UPside card, you can easily transfer funds between the two cards.

• From a Credit Card: You can also load the card with a credit card. This option, however, is only available to cardholders who have used the card for at least three months and receive direct deposit of $ 1,000 or more each month.

The maximum balance you can have on the card at any one time is $10,000.

You can apply for this card online. Reloads can also be managed online or offline. Moreover, there is no debt or annual percentage rate.

The Upside Visa debit card can save you a lot of money on check cashing fees, as well as the time it would take waiting in line at your local check cashing store.

Upside Prepaid Visa Debit Card Review (Access Plan)

Can’t Get A Checking Account?

Prepaid debit cards are a convenient alternative to carrying cash, plus they can do so much more, which is why their popularity has been soaring lately, especially among people looking to give their kids their first debit card, or people who can’t open a bank account because of bad credit, or who have been reported to ChexSystems. The appeal of prepaid debit cards (besides the fact that they’re easy to use, and in spite of the fact that they charge higher fees) is that, contrary to regular debit cards that are linked to a bank account, you can never spend more than you have loaded on the card. Because of high overdraft fees, this feature alone makes it worth it for some people. One of the few banks that has reasonable overdraft fees is Ally Bank, and we cover their overdraft policy in our Ally Bank interest checking account review.

The Vision Premier SM Prepaid Visa ® Card is a prepaid card that you load with cash and then use anywhere Visa debit cards are accepted worldwide. It labels itself as “The #1 Choice in Prepaid Debit Cards”. It gives itself this title because of its mix of convenience and reasonable fees when compared to its competitors. Vision Prepaid cards are free to apply for, and anyone over the age of 18 and with a valid social security number will be accepted. There are no credit checks, and no ChexSystems checks. Small business owners can even give them to employees or contractors as a payroll card, or to handle any petty-cash transactions.

Let’s take a closer look at what they offer.

Vision Premier Card vs. Vision Preferred Card

There are two versions of this card, and which one you choose will depend on your needs. Obviously, you get the best deal with the Premier card, with Direct Deposit. If you don’t have (or don’t need) that, you can choose between the Premier without direct deposit, and the Preferred card. To help you decide, here’s the fee schedule, as of June 16th, 2011:

Direct Deposit

It is fairly simple to have your paycheck or benefit income loaded to your card. Their website provides you with an online form to fill out and send, and that’s all you have to do.

Other Ways Of Reloading Your Card

You can reload your card by using the services of any one of the following retail locations: Ace Cash Express, GreenDot MoneyPak, MoneyGram Express Payment, PreCash, Visa ReadyLink, Western Union. You can also reload using Paypal, or by making a transfer from your bank account if you have one.

Paying Your Bills & Shopping Online

With Vision Premier’s online bill pay service you can pay anyone, anywhere, right from your computer, and your money is always safe as your card is FDIC insured, just like any other bank account; Vision Premier Cards are safer and more secure than carrying around large amounts of cash. The Vision Premier Card allows you to pay bills online or over the phone, make everyday purchases, pay for gas at the pump, and so much more. You can even use it at an ATM to get cash. As for shopping online, your card will be accepted anywhere Visa is accepted, which is literally everywhere. If you’re traveling abroad, the Vision Prepaid Visa Card is an ideal substitute for traveler’s checks while traveling abroad. If your card is lost or stolen, your money is protected by the Visa Zero Liability policy.

Things To Keep In Mind

• Obtaining Your Card: The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth and other information that will allow us to reasonably identify you. We may also ask to see your driver’s license or other identifying documents at any time. “Guaranteed Approval” is contingent upon successfully passing this mandatory identification confirmation.
• If you request a retailer to load money onto the card, you may be liable for additional fees which the retailer may charge.
• Vision Premier is a member of the Better Business Bureau. When you sign up for direct deposit you will be able to deposit an employer, government (including tax refunds), and social security checks.

Vision Prepaid Visa Card Review | Best Prepaid Debit Cards

It is difficult to get by these days without a piece of plastic to help you make purchases and pay bills. As fewer and fewer companies accept checks, your only option outside of a debit or credit card is to pay cash. Electronic means of payment such as debit and credit cards are very convenient, but certain people, such as the ones that have been reported to Chexsystems, can’t have a regular debit card. The reason is actually quite simple: since regular debit cards are linked to a checking account, if you’ve been reported to Chexsystems that means you can’t have a regular checking account, so you can’t have a debit card. The solution to this problem: a prepaid debit card like the NetSpend Prepaid Debit Card.

The reason this is possible is because the card is prepaid, meaning that you have to fund it before you can use it. Since the risk is very small for the company, they don’t bother with credit checks or verifying with Chexsystems. NetSpend offers its prepaid cards with either the Visa or the MasterCard logo, depending on people’s preferences.

Features of the NetSpend Debit Card:

• Convenience: you can make purchases wherever Debit MasterCard and Visa debit cards are accepted. You can get cash at ATMs worldwide.
• They’re safer than cash: you’re protected from unauthorized transactions if your card is lost or stolen
• You can earn 5% APY on your money with the NetSpend Savings Plan
• Free Direct Deposit: have your paycheck deposited directly on your card account
• Pay Bills Online: access your account online to pay bills and check your account history

How to reload your NetSpend debit card

• Using cash. You can load cash onto your prepaid card at some grocery stores and check cashing stores. Bring your card and the cash you wish to load to the teller or checker. Many load locations charge a small fee to load the card. Load fees will vary from Free to $5, depending on where you go.
• Reload Packs. You can also load cash onto your card by buying a NetSpend Reload Pack. The price is typically $4.95, but can vary by retailer. Once you have purchased a reload pack, log in to the Account Center to activate it. Funds are generally available on your card within a few minutes.
• Bank Transfers. You can add money to your card directly from most checking or savings accounts. Most banks do not charge a fee for this kind of transfer. The money is normally available on your card in 3 to 4 business days.
• Paypal. You can transfer money from your PayPal account to your prepaid card for free. Your money will be available on your card in 2 to 3 business days.
• Transfer from another NetSpend account. You can transfer funds from one NetSpend account to another. This can be very valuable if you have children and are using debit cards to teach them financial responsibility.

NetSpend Prepaid Visa Debit Card | NetSpend Prepaid MasterCard Debit Card

There are two variations of the NetSpend card to choose from. It really makes no difference, and is purely a matter of personal preference, and of which of those companies a retailer might have an exclusive deal with. Now as for the card itself, there are twoplans to choose from which actually are different. There’s one where you pay per transaction with no setup or monthly fee. And there’s one where you pay a $9.95 monthly fee but there are no per transaction fees. Obviously, the per transaction plan will be better suited for people who plan on using the card sparingly, as an emergency option. On the other hand, if you’re going to use this on a daily basis, the $9.95/month plan will be a better fit.

Whatever plan you choose, though, you need to be aware of the fact that there is $2.50 charge per ATM transaction.

Before you eventually get a NetSpend prepaid debit card, figure out how you plan to use it so you can choose the appropriate plan for you. It doesn’t cost any money to get the card but there’s no way around the fees once you start using it. One big fee you avoid is the overdraft fee. Since the card has to be funded in advance, you will simply run out of available money. There will not be any extra fees because you spent more than you had, because all transactions after that will simply be declined. People who have ended up in trouble with their banks because of repeated and excessive overdraft fees will certainly appreciate that.

NetSpend Debit Card Review | Prepaid Visa & MasterCard

In our previous post, we talked about People’s Cash Solutions second chance checking accounts and what they offer. Today’s post is going to cover another product in that same line, the Excella Visa Prepaid Debit Card. Of course, the target market is the same, as its target market is specifically those people who want a viable solution when looking for a non-chexsystems checking account to go about their daily financial activities. Because of the severity of this recession, many people who thought they would never be in such a situation now have to turn to financial products such as a prepaid debit card.

Not too long ago, because of easily available credit, people were routinely living above their means. That has come to an abrupt end, with a financial cost that has yet to be fully calculated. In the meantime, lots of people have seen their financial situation go into a nosedive, and their credit has considerably deteriorated. To cover living expenses, families have gone even further into debt, and credit scores have tanked. So of course the result of that is that many families have seen their traditional checking accounts get closed because of too many overdrafts. And that’s where solutions like the Excella Prepaid Debit Card can come in handy.

One of the things that you won’t find on this website is false claims that prepaid debit cards are the absolute best thing for you. What you have to realize is that those are products that are tailored for people with less than stellar credit ratings and who are being routinely turned down by large banks who refuse to open bank accounts for them. So if you’re in this situation, there’s going to be a cost in order to get a second chance checking account. The best way to see it is that it’s somewhat like paying a price so that in due time you can get back to having regular checking accounts. Prepaid debits cards like the Excella Visa card allow you to make secured, safe financial transactions.

Just to avoid any confusion, the Excella Prepaid Visa Debit Card is not a credit card. This means that there’s no credit extended to you, and you will never end up owing money using such a card. If you don’t have the balance in your account, the transaction simply gets denied, that’s it. As we said previously, there are fees associated with using this card, but at the end of the day it’s one of the best ways to get a non-chexsystems checking account.

So many of the transactions that we make all the time are now tied to giving a credit or debit card information. For example, stuff like ordering something online, booking a flight, and renting a car require that you give such information. This card fits the bill nad will be accepted anywhere a Visa card is accepted as a form of payment. There are additional perks;

• protection against fraudulent activities
• not having to carry cash all the time
• being able to do online banking and bill paying
• having access to ATMs
• direct deposit of your paycheck and/or social security benefits
• add money to the card to “recharge” it whenever you like

How To Use Your Excella Visa Prepaid Debit Card

Making Purchases

Like we said earlier, anywhere Visa cards are accepted (over 11 million locations worldwide), you can use your Excella card.

Getting Cash Back When Making A Purchase

You can get some extra cash when making a purchase. For example, let’s say you’re going to buy something for $30 but want to have an extra $20 in cash on hand. You can ask the cashier to charge the card for $50 and give you the extra $20 in cash. It’s pretty much like doing an ATM withdrawal without incurring a fee.

Getting Cash From An ATM

This one is pretty much self explanatory. Just keep an eye on the carges to avoid paying exorbitant ATM withdrawal charges. On a related note, you can also add cash to your card at any participating Excella Retail Reload location.

Non-Chexsystems Checking Accounts: A Little Background Information

ChexSystems is a service that is used by about 80% of the banks in the U.S. to determine who they want to open checking accounts for and who they don’t. Created by a company called eFunds, ChexSystems (often incorrectly referred to as Chex Systems or Check Systems) maintains a database of people that have in one way or another abused the banking system. In that regard, it’s similar to the FICO scoring system but the similarity ends there. There’s no Chexsystems score, and whereas you can have a good credit score or a bad one, you can’t have a good chexsystems record. You either don’t have one, or you do. And if you do, well that’s grounds for banks to flat out reject your checking account application.

You’re not going to get rejected by just one bank, though. Most likely every big bank out there will refuse to open a checking account for you if your name shows up in Chexsystems’s database.  Nobody wants to put themselves through this type of shame and discomfort, which is why a lot of people look for banks that do not use Chexsystems.

How can you get into this system in the first place? Your name can show up in Chex Systems for a number of reasons, including for having abused your debit card, having committed a fraud against a bank, or if you still you owe your bank money for an overdraft that they covered for you in the past.

Trying to get removed from Chex Systems is not easy, either. Unless there has been some sort of error whereby something you never actually did was mistakenly attributed to your name in the system, often only time itself can get you safely removed. But, that could take years, and you need a new checking account now.

The good news is that there is an alternative to getting rejected by more banks or to waiting years to get removed from Chex Systems: finding a bank or other financial institution that offers a no ChexSystems checking account. And this is what the Excella Visa Prepaid Debit Card offers.

The Excella Visa Prepaid Debit Card, A Perfect Non-Chexsystems Checking Account