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The traditional bank account can be difficult to maintain at times. This is because there may be fees to keep track of, worries of insufficient funds if a mistake is made, and other concerns. The READYdebit Visa Latte Control Prepaid Card eliminates many of these worries.
The READYdebit Visa Latte Control Prepaid Card is a great alternative to a checking account. When compared to checking accounts, there is no monthly fee. Some checking accounts come with a monthly fee so that the bank can maintain the account. Another unique benefit is the free ScoreTracker when you opt for free direct deposit.
There are a number of unique benefits, such as no credit or ChexSystems checks if you have had issues with ChexSystems, there are no overdraft fees because you cannot bounce checks with this account. While it is a debit card, you can opt to have checks sent through the online bill pay service. In other words, paying bills is made very simple with this card.
If you and someone else in your household each have a READYdebit card, you can share money between those two accounts instantly and there is no fee to do so. So if one card is short on funds, you can move money from one to the other and the money will instantly be there for use.
ScoreTracker
Bancorp Bank, the issuer of the READYdebit Visa is not affiliated with ScoreTracker, nor does it sponsor. It is simply an outside credit score monitoring service that is provided by Credit Karma. Bancorp Bank makes the service available to its direct deposit customers free of charge.
If you are familiar with the Credit Karma service, it allows you to keep track of what is on your credit report, as well as see what you have to do to increase your credit score. This is a service that can help you reach your financial goals.
Direct Deposit
Just like with a traditional bank account, you can have your payroll check or any other form of direct deposit deposited into your account. This is so you do not have to worry about cashing a check. Instead, your money is automatically deposited into your account and you do not have to worry about anything. It is then ready for use like you normally would any debit card that is tied to your account.
All you have to do is give your employer's payroll department the routing and account numbers so that your paychecks can be deposited into your account. Many times through direct deposit, the money is available just after midnight. If anything, it is in your account before you start your day on payday. There is no having to pick up your check so that you can wait and cash it during your lunch break, when you're off work while the bank is open, or dropping it in the bank's night deposit not knowing whether or not it is truly safe or will be entered correctly when the bank employees get it to process it. There are a number of advantages to direct deposit.
Reloading The Card
Aside from direct deposit, there are a number of ways to load money onto the card. Those ways include transferring money from a bank account to the card and cash loading. When you choose cash loading, there are approximately 60,000 locations around the country in which you can load money on the card. Stores that offer GreenDot MoneyPaks or Visa ReadyLink will be able to load money onto your card for you. However, there may be a small fee associated with reloading.
Additional Card Features
There are some additional card features, such as being able to add a secondary cardholder. You can authorize individuals to use your card, but having a secondary cardholder rather than having someone else use your card can increase the level of security of your card. You can make it a rule for only those with cards to be able to use the account.
You also have the ability to stop payments, customer service is available 24/7, and you have assistance if the card is used fraudulently and you need the fraud to be investigated and rectified. If you believe that your card is lost or stolen, then it is best to call Bancorp Bank as soon as possible. It is important to make this call within two business days so that the proper action can be taken.
Limits
There are different limits that have been established by the card issuer. For instance, ATM withdrawals are capped at a certain amount per day and there is an Over the Counter limit on cash withdrawals. There is also a limit on the total dollar amount of purchases, as well as limits on how much money can be direct deposited in a single day and the number of direct deposits in a day or month.
There are also limits on the number of card-to-card transfers a cardholder is allowed and how much money can be transferred in a single day. There is also a maximum number of accounts that money can be transferred to per day and there is a maximum balance allowed on the card. All of this is in place to ensure that you are safe while using the card. Limits can limit the amount of fraudulent activity that would occur if the card would be lost or stolen. This minimizes cardholder losses and any losses that could be experienced by the card issuer.
Conclusion
The READYdebit Visa Latte Control Prepaid Card is a good checking account replacement so that you can enjoy more freedom in the way of no monthly fee, no overdraft fees, and no bounced checks. This prepaid card comes with different deposit options and even connects cardholders with a free credit monitoring service when they opt for direct deposit.
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