Are you researching prepaid debit cards with direct deposit? Let’s review your choices to help determine what the best option is for you. If you are looking for direct deposit cards that will accept your payroll, employment, and benefits check. Then, you have an endless list of choices for a prepaid reloadable debit card.
The most important consideration is if direct deposit is free on your prepaid debit card. In other words, you should not pay any fees for depositing money on your prepaid card using direct deposit. Some employers are now offering to pay their staff using payroll direct deposit cards, the Citi Bank prepaid card is one of the more popular of these cards.
If you are planning on using direct deposit for pension or government benefit checks. Then, you will need to spend a few extra minutes. Double check to make sure your prepaid card accepts the use of pension and government benefit checks using direct deposit. Some prepaid debit card will not accept this type of check for direct deposit.
How To Use Direct Deposit
Commonly to sign up for direct deposit it will require you to follow just 3 simple steps.
1. Your Online Account
You will first need to sign into your online prepaid card account. Next, there will be a direct deposit form. Print up this form and fill in the necessary information including:
- Your full name
- Your card account number
- And possibly the ABA routing number
2. Turn In Your Direct Deposit Form
Once you complete the necessary information. The next step is to turn this form into your employer or benefits provider.
3. It Should Take 1-2 Pay Periods
Your check will be directly deposited into your account within 1-2 pay periods of turning in your form to your employer of benefits provider! That’s it. It is very simple and many prepaid debit cards will provide you exact instructions, when you print up your direct deposit form.
As a customer looking for prepaid debit cards with direct deposit, you’re the ideal customer. In other words, everyone wants your business, and the prepaid industry is massive these days. This puts you in a good position to find a cheap, low fee prepaid debit card. If you use direct deposit it will provide you with quicker access to your money. Not to mention the added convenience.
If you are currently picking up your paycheck and paying check cashing fees. This will eliminate that expense and hassle. The MoneyGram prepaid card offers no monthly fee to customers using direct deposit. The catch is you must deposit a minimum of $2,500 per month.
In other words, you will not be responsible for paying any debit card fees. If you are using direct deposit and earning an annual income of $30,000 or more. Often prepaid cards will charge you about $10 per month as a maintenance fee. You should not pay any more than $10 as monthly fee. Additionally look to see if the prepaid debit card requires you to pay an activation fee, some debit cards will give you free activation.
But, increasingly we have seen prepaid debit cards that will charge you an activation fee. This fee will be charged when you first deposit money on your account, or when you activate your direct deposit prepaid card. One of the best prepaid cards is the Chase Liquid prepaid debit card. It carries a low monthly maintenance fee of just $4.95, that’s it.
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