Account Now Prepaid Visa Review
AccountNow® Prepaid Visa® |
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| Issued by MetaBank | |||||||||||||
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If you're looking for a good way to make electronic transactions without the use of a credit card, then the AccountNow® Prepaid Visa® may be for you. And, because this is a pre-paid card, it will come in handy when it comes to creating and sticking to a budget. All About the AccountNow® Prepaid Visa®When you apply for your AccountNow® Prepaid Visa®, there are two plans that you'll be able to choose from. The classic plan is the least pricey at $4.95 per month and the premium plan is a nickel shy of $10 per month at $9.95. There'll be no credit check for either of the plans and because the AccountNow® Prepaid Visa® is not a credit card, you won't accrue any interest. You'll be able to activate your card for free if you establish a recurring direct deposit, or for $9.95 if you choose not to. Using Your Prepaid Visa®Whenever and wherever you use your prepaid Visa®, you'll be using the money that you've loaded onto your account. This card can be used at any of the millions of locations that accept Visa® as a form of payment for goods or services just as long as you've loaded enough cash to spend. Plus, you'll be able to use your AccountNow® Prepaid Visa® online and over the phone for Internet and catalogue shopping, as well as for other non-traditional payments. (There is a fee, however, if you submit a bank routing number and bank account number when paying for your purchase or service.) Plus, if you're not satisfied with a purchase you made with your Prepaid Visa®, you'll be able return it (as long as the merchant approves) and get your refund credited back to your account just as you would with a credit card. Card Loading and the Limits of Your Prepaid Visa®There are limits to the amount that you can place into your account. You can load a total of $5,950 per day onto this prepaid card - $5,000 in direct deposits, and $950 in cash deposits loaded at retail locations. When it comes to taking money out, again the limit will depend on whether or not you've arranged to have a direct deposit to be placed into your account. If you do, your withdrawal limit will be $500 a day. If you don't have a recurring direct deposit, your limit will be $300 per day. There are limits to the type of transactions you may make with this card too. For purchases that require a signature, you'll have a spending limit of $1,500 each day and for purchases that require a PIN, you'll have a limit of $1,000 per day. There's a maximum stored value limit of $10,000, which means that you won' be able to put any more than $10,000 on the account. There is also a limit to the number of times you can load your card per day five. While you will have the option to choose between the classic plan or the premium plan, you should take a look at the terms and conditions and do the math to calculate which plan works best for your spending habits. Although there are many free services available with the Account Now® Prepaid Visa®, there are also services that have fees associated with them. These fees can add up, so you should be sure to read the fine print before using your card. Is the AccountNow® Prepaid Visa® the Card for You?The AccountNow® Prepaid Visa® is a good idea if you aren't yet able to obtain an unsecured credit card, don't want a credit card, or are simply looking for a good way to budget your spending. The AccountNow® Prepaid Visa comes with the convenience of using a Visa®, and gives you access to products and services that require Visa® or Visa® branded plastic. An added benefit to carrying an AccountNow® Prepaid Visa® is that if you choose to enroll in AccountNow Bill Pay and add the AccountNow Credit Builder service. This service reports your payment information to a national credit reporting agency an important component in bolstering your credit rating. *AccountNow Prepaid Visa is issued by MetaBank. Funds are insured up to $100,000 by the Federal Deposit Insurance Corporation (FDIC). If you sign up for Credit Builder, your bill pay transactions will be reported to PRBC®. |
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| Updated: April-01-09 | |||||||||||||
| Most Attractive Feature(s): Access to free credit builder program. | |||||||||||||
| Least Attractive Feature(s): Application fee; monthly maintenance fee; transaction fee. | |||||||||||||
| Access to free credit builder program. Free bill pay service for the first seven transactions per month. No liability for unauthorized transactions. See website for additional benefits. |
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| Note: The review of this card was updated on April-01-09. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application. | |||||||||||||
