Requirements To Apply For A Prepaid Card
A prepaid card issuer is a financial institution like banks, mobile wallets, and credit unions. Therefore, the federal government requires all financial institutions to obtain the following documents from account applicants.
- Social Security Number
- An identification document, e.g., drivers license, passport, government ID card
- Email address
- Physical address
- Phone number
The Social Security Number allows the government to track your tax payment. The number plus the identification document helps the card issuer to identify you correctly. The email address and the phone number allow you to get the necessary communication from your card issuer.
Your physical address will be of importance when receiving your card. The issuer will send the card to your address for you to activate and start using it.
Can You Turn A Visa Gift Card Into Cash In Hand
There are ways to turn a Visa gift card into cash in hand, although these tend to be limited to those options when youre trading your card in in-person, such as when selling it to someone or converting a Gift Card Kiosk voucher into money.
However, having the money added to your PayPal or bank account is as close to cash in hand as you can get. Simply add the extra step of going to withdraw it and youre on your way.
Get The Account And Routing Numbers For The Prepaid Debit Card
Even though its a prepaid debit card, a financial institution issued it. So youll have to get the information associated with your prepaid debit card. Sometimes, the account number that identifies your debit card differs from the card number. Youll also need the routing number of the cards issuing bank.
To get this information, you have two options:
Once you have it, youll be able to set up direct deposit and accomplish other tasks besides adding money via bank transfer.
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Why Might My Initial Load Or Reload Be Declined
Possible reasons your initial load or reload might be declined are: the name/address on file with the debit/credit card issuer does not match the primary cardholder profile on the Visa Prepaid Card website, the debit/credit card expiration date or the 3 digit code listed on the website is incorrect. First, verify your funding source information. If this does not resolve the issue, call the toll free number on the back of your card to discuss other limits that may have been exceeded.
Turn Your Visa Gift Cards To Cash By Buying And Reselling Items
This may take a few extra steps to do but it may be the only other option on this list that lets you make money from converting your Visa gift cards to cash .
As mentioned, most stores treat Visa gift cards like credit cards. This means that you can generally use them to buy items at almost any store, so keep an eye out for things that are either heavily reduced or in high demand.
In both cases, theres a good chance you may be able to resell the item at a higher price than what you paid. This, in turn, will let you eventually get cash from your gift card.
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Can You Transfer A Visa Gift Card To The Cash App
You cant transfer a Visa gift card to the Cash App as this app doesnt allow gift cards to be used as a payment option. Instead, you have to find a way to convert the Visa gift card to cash and then add that as a balance to the Cash App.
Id particularly recommend checking out some of the options in this article on how to add the money from your Visa gift card to your PayPal account. This is because, from there, its very easy to add this amount to your Cash App account.
How Do I Dispute A Transaction
All account disputes should be directed to Cardholder Services. You should call or write as soon as you believe that there is an error on your statement. Cardholder Services must hear from you within 60 days from the date of the statement on which the error appears. A Customer Service Representative will provide you with a dispute form to complete and return.
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Can You Withdraw Money From A Paypal Prepaid Mastercard
I agree with that statement. The PayPal Prepaid Card can be used to withdraw cash at any ATM that bears the MasterCard, Cirrus, or PULSE Acceptance Marks. The U.S. has more than 6,000 ATMs that accept cash withdrawals. There is a $1 fee for domestic ATMs. There is a surcharge fee of 95, plus the ATM owners or banks costs.
One: Find Out If Your Prepaid Card Can Be Used Anywhere Or Is Limited To Participating Merchants Only
Visit your prepaid card companys website and look at the cards features. Can it be used anywhere that regular debit cards are accepted?
For example, certain cards have the following features:
The Card can be used to purchase merchandise and services anywhere Visa debit cards are accepted in the United States.
However, other cards are only limited to participating merchants:
Your Card can be used to purchase merchandise and services at any grocery store, specialty foods store, food truck or online food retailer in the US where Visa debit cards are accepted.
If your card can be used anywhere in the United States , then you can move on to step two. Otherwise, read our section on transferring gift card balances to your bank account.
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How Does A Prepaid Card Work
Its a reloadable prepaid Visa debit card, which means you can spend up to the value placed on the card anywhere Visa debit cards are accepted. You can shop in stores, online, over the phone, and by mail order. You can get cash at Visa/PLUS ATMs worldwide. Each time you make a purchase, the amount of that purchase is automatically deducted from the card.
Can You Transfer Money From Your Bank Account To A Prepaid Card
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Complete Your Bank Details
After clicking next, youll be taken to a page like in the screenshot above. Enter your Receivers details. This will be information like your name, address and account/debit card info.
Click Next. According to the MoneyGram website, many account deposits are completed within minutes, subject to banking hours and systems availability.
How Do Prepaid Debit Cards Work
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If you don’t have a bank account or you need a new way to budget, prepaid debit cards might be the next plastic for your wallet. Here’s how they work.
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Three: Register Or Log
After finding out whether your prepaid card provider allows such a transaction, you can sign-up for an account or log in if you already have an account.
If you need to do registration, then you will need your prepaid card with you. After signing-up, you can use the log-in details for future transactions.
Get The Prepaid Card Account Number And Routing Number
The first step to the process is to get the account number and routing number for your prepaid debit card.
This is where most prepaid cardholders get stuck in the process because they cannot locate that information. If thats you, keep reading.
Every prepaid debit card has an issuing bank. Even though its a prepaid debit card, a financial institution issued that card.
Therefore, since the card was issued by a bank, there is an account number for each prepaid card and there is a routing number for the issuing bank.
To be able to set up the transfer from your bank to your prepaid card, you will first have to get your prepaid card account number and the routing number for the issuing bank.
Some prepaid cards easily provide this information to you and it can be located in your prepaid card account online.
However, some prepaid debit cards do not make this information easily available.
Sometimes, the account number that identifies your debit card can be different from the card number.
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Pay At Walmart Using Greendot
Did you know that it is possible to make purchases at Walmart using the Greendot card? Well, most new customers are unaware of how easy shopping can be with electronic and online payments.
Although this has not been accepted as a mode of payment at many other stores, places like Walmart and Amazon are now taking Greendot payments. Some expenses you have to keep in mind in this case include:
- Card limits
- Cashing fees
How To Convert Visa Gift Cards To Cash
There are a bunch of different ways to get your Visa gift card balance converted to cash. In a few cases, theyll let you end up with actual cash in your hand, while others will let you treat the card as if it were cash in terms of how you use it.
There are a few ways though that involve a transfer of the Visa gift card to your bank account. From there, youll then be able to withdraw the money as cash.
Want to get started with a free $5 Visa gift card? Simply and youll get a free $5 welcome bonus, which you can then convert into a Visa gift card
Whichever option you choose though, the outcome is the same. So it just becomes a question of which one is easier for you.
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Four: Link Your Bank Account To The Prepaid Card By Providing The Routing Number And Account Number Of Your Bank Account
To perform the transfer, most prepaid card providers will ask you to link your bank account by entering your bank accounts routing number and account number.
Your routing number is a 9 digit number that tells you where your bank account was opened. One place to search for it is at the bottom of your checkbook.
Its also known as your ABA or RTN number.
Make sure you have this ready. If you dont have the routing number of your bank account, check with your banks website.
Most banks have a page where all their routing numbers are listed. Have a look at U.S. Banks website for example.
The Benefit Of Prepaid Card
A prepaid card is a card with many benefits for the user. In some countries such as in the US, a prepaid card can be a benefit to using as a payment method, receive funds from the government, and also for shopping groceries or daily needs. Therefore, the presence of this card is important for many US citizens. Since the card is a much easier way to perform various payments rather than bringing cash everywhere.
Related to this prepaid card, there are many things also being a consideration. Such as how to use it for payment, how to shop with the card, and then how to send money to a bank account. Since some people sometimes need cash rather than the amount of money inside it.
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How Are Prepaid Cards Different From Debit Cards
Although the two types of cards work the same, there are some slight differences. They include the following.
- Prepaid cards do not need a bank account, while debit cards require bank or credit card accounts.
- A prepaid card uses balance from its account, while a debit card uses money from the connected bank or credit union account.
Receive Money On Your Greendot Account
You may also need to receive funds from another Greendot account and luckily that is possible with utmost ease. If a friend or a relative has to use their Greendot prepaid card to send you money then heres what they need to do.
- Open Greendot official account by providing your log in details
- Move to the section of Pay Bills and People
- Tap on Pay People and provide the card details of the recipient such as account number, email ID, full name, etc
- Then specify the amount that you want to send over
- Tap Continue and then confirm that you have provided all the correct information
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How Do I Activate The Prepaid Card
You can activate the Card online at www.bankofamerica.com/cslplasma. You can also activate the Card by calling 692-9282 toll free, 24 hours a day, seven days a week. Make sure you have your 16-digit Card account number and the last four digits of your Social Security Number ready when calling. THE CARD CANNOT BE USED UNTIL ACTIVATED AND A PIN IS SELECTED. When you call or go online to activate your card, you will select a Personal Identification Number . Your PIN is the access code to your account for all pinned point-of-sale purchases and ATM transactions.
Do Prepaid Cards Come With Fees
Before you open a prepaid card, it’s important to understand what fees may be associated with them. Most prepaid cards charge monthly maintenance fees around $10, which is similar to checking account fees that can cost up to $15 a month. But you may also pay a fee to open your prepaid card, typically around $5.
You can also expect to incur an ATM fee, reload fee and foreign transaction fee with many prepaid cards.
The PayPal Prepaid Mastercard® can cost up to $4.95 to purchase the card and charges you $4.95 a month to use the card. You may also incur ATM withdrawal fees of $2.50, check deposit fees ranging from $0 to 5% of the total check amount and a 4% fee on purchases made outside the U.S.
There are options out there with minimal fees. Bluebird® by American Express has no card opening fee when you open an account online , no monthly fee and no foreign transaction fees.
While there’s typically no minimum balance requirement, you could get stuck paying a monthly fee you regardless of your balance. Make sure you’re familiar with your card’s terms of service and reach out directly to your card issuer for more information.
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Transfer Visa Gift Card To Bank Account Through Moneygram
MoneyGram is the second largest money transfer company. They are fast, affordable, reliable, and most importantly safe. Get ready to transfer visa gift card to Bank account by visiting MoneyGram website and following the steps below
#1. Sign up to create an account at MoneyGram
Once you open the MoneyGram website, click the Sign up button, fill in your email address, provide a strong password and sign up.
Go to your email and verify that youve successfully created an account.
#2. Click Send Money at the MoneyGram website
At the top menu bar of the website, click the Send money icon and it would take you to a page where you are required to fill in the payment details. Which includes
- Amount to be sent
- Select Debit or Credit card
- Select the Account Deposit or Debit card deposit option.
Make sure that your visa gift card is linked to your bank account you are sending the money to.
#3. Fill in Bank Details
Youd be taken to a page where youd fill in your bank details after sending the payment information. Here youd enter
- Receivers Name
- Card information
After entering these information, click Next and your money transfer would be processed. Viola! In few minutes youd have transfered money from your visa gift card to bank account.
Note that MoneyGram charges a fee based on the amount youre sending. And fortunately their fee is ridiculously cheap. $1.99 for amounts less than $200. For amounts above $200, it charges $1.99 + 1% of the transferred amount.
Can I Reload The Prepaid Card
Yes, the card can be loaded unlimited times for Personalized and Non-Personalized Prepaid cards. To reload using the credit or debit card registered during enrollment, primary cardholders can visit the website, call the number listed on the back of their card, or visit your local branch. Any applicable fee for reloading via the website or by phone will be charged to your funding source, along with the value being added to your card.
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