The Insight Visa is a prepaid debit card. It is issued by Republic Bank of Chicago and the Urban Trust Bank, both of these banks are members of the FDIC. The Insight prepaid card will be accepted online, over the phone, and you can even use it for purchases when traveling internationally.
How The Insight Visa Card Works
This is a prepaid Visa debit card therefore you will not run any risk of going into debt. You will first have to deposit money onto your prepaid Visa card and then you can use it for purchases. There is free sign up and there is a $0 activation fee.
How To Deposit Money
There are three ways you can load money onto your prepaid Insight Visa card.
1. Direct Deposit
You can sign up for direct deposit for free, this will help you avoid expensive check-cashing fees. It will also provide you faster access to your money, according to the Insight website anywhere from one to three days faster. You can use this for payroll checks and government benefit checks.
2. Green Dot MoneyPak
You can purchase a Green Dot MoneyPak at many popular retail locations including Walmart, CVS, Walgreens, Rite Aid, 7-Eleven, and many more. Using this method, you can load cash onto your Insight prepaid card. It will however cost you about $5 at a retail location to purchase a Green Dot MoneyPak.
3. Visa ReadyLink
The Visa ReadyLink is very similar to the Green Dot MoneyPak, and will enable you to deposit cash on your card. It is also available for purchase through many retail locations.
Insight Visa Card Security
Your money will be safe through a Visa $0 Liability Policy. This is an insurance plan, in case your Insight Visa is ever lost or stolen. Your money is also FDIC insured and you get 24/7 online account access. You can also keep up with your account balance by using real-time text alerts. There is a monthly fee of $9.95.
Online Bill Pay
With your Insight prepaid Visa card you will also get access to online bill pay. This is an easy and convenient way to pay your bills and it will work just like a checking account. You simply log-in and fill in the relevant information such as the amount of the payment, the date you want it sent, and that’s it!
2 Drawbacks To The Insight Visa Card
1. No Credit Reporting
If your in search of a credit card for building credit then you should keep looking. The Insight Visa is a prepaid debit credit card, therefore you are not borrowing any money or using any credit. To clarify, there is no information that Insight can report to the three major credit bureaus about your credit behavior. Instead, we would encourage you to consider a secured Visa credit card to rebuild your credit.
2. It Will Not Be Accepted To Rent A Car
You will not be able to use the Insight Visa card to rent a car. This is according to the Insight website as of the publishing of this article. For full details about the Insight Visa Prepaid Card and to apply online visit http://www.insightcards.com. In our opinion, this is not one of the top prepaid debit cards available, instead we would encourage you to look for a cheaper, lower cost alternative.
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