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Everyone wants their money to be safe and they don't want that safety or the effective management of that money to be too costly. With the AARP Foundation Prepaid MasterCard from Green Dot, effectively managing money doesn't have to cost.
Those aged 55 and older are always looking for new ways to manage their money. They also want to be able to keep their money as safe as possible. There are also those individuals who want to spread their cash out a little more so they always have a reliable backup method.
The AARP Foundation Prepaid MasterCard from Green Dot is a way in which seniors can manage their money and do so with a well-known prepaid card service that has some of the lowest fees in the industry. It also has very few fees so that the card is easy to manage.
Cost
The card is free to acquire. You can request it online by filling out a simple online form. This is a card that is designed for seniors, so it is one that is easy to understand and even the application process has a very low learning curve.
Once the card is received, it needs to be registered. Once it is registered, it is ready for use. You can have your social security checks or paychecks direct deposited just like you would with a bank account. However, direct deposit is completely free. It does not come with a reload fee like depositing cash or depositing through a Green Dot MoneyPak does.
If you wish to deposit cash, you can sometimes do so through a retailer who is outfitted to swipe the card and reload it. Nonetheless, you have the option of buying the MoneyPak and reloading that way. When you reload with cash or MoneyPak, the reload fee is added in addition to the amount being loaded onto the card.
In addition to the reload fees, there is an ATM fee if the card is used to withdraw money at a non-network ATM. The fee is very small and it is charged in addition to the ATM owner's fee. However, using the card at an in-network ATM results in the fee being waived. There thousands of in-network ATMs around the country. These MoneyPass ATM machines can be located by checking with Green Dot online. There is an ATM locator that you can use. You can type in an address or a place into the search field and perform your search. That way you can easily locate MoneyPass ATM machines in your community so that you can use them without having to pay the fee.
The next fee is the replacement card fee in case the card is lost or stolen. This is a small fee. It is important to report your card lost or stolen within two business days of you noticing that it is gone in order to protect yourself against fraudulent charges. If you request a second card, you can obtain it for free.
The last fee is when you use the card at a merchant that is outside of the United States. There is a foreign transaction fee that is a percentage of each transaction. You can use the card anywhere in the world where MasterCard is accepted.
Fraud Protection
Fraud protection is very important and the card gives a certain degree of that. First, carrying a card is always safer than carrying cash for the fact that a card can be replaced and cash cannot unless it is lost and someone knows where to return it. In the case of the card, you are able to report the card lost or stolen so that no more spending can occur. That way if it finds its way into the wrong hands, the wrong person is not able to use the card.
If you report the card lost or stolen in a timely manner, you should be able to avoid fraudulent charges and measures can be taken to keep you from being liable. However, you do need to keep in mind that allowing someone to take the card and use it does not constitute fraud. An example of this situation is when a loved one is sent to the store with the card and they spend more than anticipated. Because the card was allowed to be used, a fraud claim cannot be made.
Nonetheless, it is easy for you to keep track of the card and your spending through the online account management tools. It is ideal for you to check your account online daily to review it for any fraudulent transactions.
Money Management
Being able to check your account online at any time that is convenient for you is also important for money management. You can see how much money is in your account, see how much you have spent, and you can use the information that you gather to budget. You can also reload your account online via bank account, as well as stay on top of the terms and conditions as they change. If you're curious as to how much a particular fee is, you can check online. If you need to find a MoneyPass ATM so you can avoid the small ATM fee, then you can do that as well. The purpose of this reloadable prepaid debit card is to help you manage your money, keep it safe, and give you the convenience that you need without some of the hassles that come with bank accounts, such as the bank only being open for part of the day. With Green Dot, you can reload your card any time of day with many retailers.
Final Word
When you need an effective money management and security solution, the AARP Foundation Prepaid MasterCard from Green Dot is designed to give you that. Seniors have a number of reload options, the fees are low, and there is a high degree of convenience.
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