The Citi Prepaid Card is used by employers to issue payroll checks. The idea is that organizations can reduce costs associated with payroll payments. Instead of being issued a paper check, your paycheck will be directly deposited to your Citi Prepaid Card.
This is reported to give you faster and easier access to your money. Citibank works with the following types of organizations:
- Government benefits
- Payroll and pension payments
- Worker’s Compensation
- Emergency relief
- And higher education payments
If you are suffering from the expense of check-cashing fees, this will eliminate that expense from your life.
Where Is The Citibank Prepaid Card Accepted For Purchases?
You can use your Citi Prepaid Card online, over the phone, and everywhere Visa debit cards are accepted. The only drawback of the Citibank Prepaid Card is that you can not use it to purchase gasoline at the pump. As of the publishing of this article, you will have to first pre-pay or go in the store and pay for your gasoline.
Fees For The Citi Prepaid Card
- $1.50 domestic ATM withdrawal fee
- $3.50 for international ATM fee
- $3 account maintenance fee
- $15 over the limit fee
- And a few other miscellaneous fees
This is a prepaid card, so you will have to first deposit money on your account before you can use your card for purchases. Your provided two methods to load or deposit money on your Citi Prepaid Card. The first is through direct deposit. However you can not deposit money directly from your personal bank account.
The second way is to transfer funds using the ACH system and you will be charged $1.50 to use this. It will typically take two to three business days before your account is credited. You do have access to any ATM with the Visa logo on it, however there is also a $1.50 charge to use ATM’s.
You can however use a Citi surcharge free ATM. These are typically located at Citibank branch locations, money pass locations, Publix grocery stores, and 7-Eleven stores. There is a $3,000 spending limit within a 72 hour period. However you can contact the Citibank customer service team and request an adjustment if your spending requirements are larger.
This prepaid card will give you 24/7 online account access, and it appears that this is a good card offer. However we urge you to read all the fine print before you apply for the Citi Prepaid Card. It would be nice if Citibank published some additional information regarding their prepaid payroll debit card.
We want you to avoid discovering fees buried in the fine print of this application. This card will help prevent you from going into debt. However unlike other prepaid credit cards with no fees, you can be charged an over the limit fee of $15.
You will not build credit using the Citi Prepaid Card. This is because Citibank is not lending you money. Therefore they have no information to report to the three major credit bureaus, about your credit behavior. It appears that this prepaid card is primarily used with government agencies, issuing payroll payments.
You may want to consider some other prepaid card options before choosing. The American Express Prepaid Debit Card is one of the best on the market. The prepaid industry has exploded and there are many choices with very customer friendly fee structures.
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