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For a fee you can do a balance inquiry at an ATM. Q. What is a Money Network CheckTM? A. The Money Network Check is a self-issued check that. Unionplus.capitalone.com - How to Login to Your Union Plus Credit Card Account - Credit Cards Login. More information. Here's what you need to know about the debit cards: Your Economic Impact Payment card will arrive in a plain envelope from “Money Network.
money card money network

EIP Card: How to Get Your Money Without Fees

The Chase online banking customer service has sent out the Economic Impact Payment (EIP) in the form of a debit card to qualifying taxpayers who may not have a bank account to receive direct deposit or to deposit a mailed stimulus check.

As these taxpayers receive their EIP debit cards, they may be wondering how to access money card money network money without getting hit by a bunch of fees.

Yes, the EIP card does have some fees involved for certain types of transactions.

That said:

It is entirely possible to use, transfer, and withdraw all of the funds money card money network getting hit by a single fee.

Find out about the different ways to do so.

How to Access Your Money Without Fees

Depending on what you want to do with your stimulus payment, you might prefer a specific method of collecting your money.

Or, use a mixture of the following methods to get your money out as fast as possible.

Withdraw cash from an in-network ATM

The EIP card allows you to withdraw cash without a surcharge from more than 55,000 ATMs in the U.S., Mexico, Canada, Puerto Rico, Australia, and the United Kingdom with the AllPoint ATM network.

These in-network ATMs are commonly found at local drugstores, supermarkets, convenience stores, and major retailers such as Target, Walmart, and Costco.

  1. Find and visit an Money card money network ATM near you. (The Money Network also has this locator tool.)
  2. At the ATM, enter your 4-digit PIN (your PIN is in the mail sent along with the card).
  3. Select “Withdrawal” from “Checking” and enter the amount of cash that you want to take out.

The card’s daily ATM withdrawal limit is $1,000.

So, you will need to make multiple trips on separate days to withdraw the entire balance on the EIP card.

Transfer funds to your own bank account

It is free to transfer the funds in the EIP card to an existing bank account.

You will need to:

  1. Activate your card, call 1-(800)-240-8100.
  2. Register an account for online or mobile app access, visit EIPCard.com or download the free Money Network Mobile App (available on Apple iOS and Android platforms).
  3. Having your bank account routing number and account number ready.

Once you’re set up, you can log into your account online or through the mobile app to transfer funds to your bank account.

The ACH transfer limit is $2,500 per day or $5,000 per month.

For married couples with dependents, you may not be able to transfer all the money from the EIP card in one day.

Request a Money Network check

Cardholders can request checks with amounts deducted from your EIP card balance.

To request checks, you must call customer service at 1(800)-240-8100.

For each check to be written, you have to call the number on the back of your card and go through an automated phone call to receive an issuer number and transaction number to activate the check and have the check amount deducted immediately from your EIP card balance.

This method could be handy for bills and rent.

Spend it

Point-of-sale transactions are free, so you can use the EIP card for shopping in the same way that you normally would with any debit card (merchants must accept Visa debit).

Be mindful:

Any purchases that will exceed the balance of the card will be denied. Overdrafts on the EIP card are not possible.

The daily point-of-sale transaction limit is $2,500.

EIP Card Fees to Avoid

Compared to many prepaid debit cards and reloadable debit cards on the market (the EIP Card is not reloadable), the EIP Card has an extremely consumer-friendly fee schedule.

Here are the most common card fees to avoid:

Out-of-network ATM withdrawals

The EIP Card charges $2 per out-of-network ATM withdrawal (waived for the first time).

The catch:

The ATM operator may impose a surcharge on top of the EIP Card’s fee. The surcharge is usually around $3.

So, with the EIP Card, expect the first out-of-network ATM withdrawal to cost about $3 in fees while all subsequent out-of-network ATM withdrawals to cost about $5 in fees.

To avoid money card money network fee: Stick to in-network ATM withdrawals as much as possible.

ATM balance inquiry fee

The card has a $0.25 to check your card balance at any ATM. 

Even worse:

If you check the card balance in an out-of-network Money card money network, the ATM operator may impose a surcharge on top of the EIP Card’s fee.

To avoid this fee: Check your card balance online at EIPCard.com or through the Money Network Mobile App.

Funds Are Insured

Many cardholders may be concerned about leaving their money in the EIP Card.

While it would be the wisest move to get the funds out of the card as soon as possible, rest assured that the funds are FDIC-insured because the deposits are held in MetaBank, an FDIC-insured institution.

If you lose your card, it is reissued for free for the first time. If you lose your card, subsequent reissued cards will be $7.50 each (an additional $17 for expedited card replacement).

Conclusion

The EIP Card is a financial lifeline for many Americans and it’s important to keep as much of that money as possible.

Fortunately, it is rather easy to collect all the stimulus funds without losing any of it to fees.

Continue Reading

Источник: https://www.mybanktracker.com

Introducing The ultimate mobile bank account

Not a gift card. Must be 18 or older to purchase. Activation requires online access, mobile number and identity verification (including SSN) to open an account and access all features. Activated, personalized card required to access some features.

Green Dot Cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. These registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot is a registered trademark of Green Dot Corporation.​

Banking services provided by, and the Uber Visa Debit Card, is issued by GoBank, first national bank severna park brand of Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

Banking services provided by, and Intuit Visa Debit Card, is issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc.

GO2bank Card issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered money card money network of Visa International Service Association. ​

The Walmart MoneyCard MasterCard Card is issued by Green Dot Bank pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

The RushCard Prepaid Visa® Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card accepted everywhere Visa debit cards are accepted. RushCard are registered trademarks of UniRush, LLC. All other trademarks, service marks and other registered marks are the property of their respective owners. 

All third-party names and logos are trademarks of their respective owners. These owners are not affiliated with Green Dot and have not sponsored or endorsed Green Dot products or services.

Источник: https://www.greendot.com/

How do I change my PIN on my money network card?

Call the Customer Service number on the back of your Card. Follow the menu prompts to create money card money network new PIN. Your new PIN will be active immediately.

How long does it take to get a new money network card?

7- 10 business days. You can request that your Card be rush delivered within 2-3 business days for an additional $10 express shipping fee. You can use your Money Network Checks to access funds until your replacement Card arrives.

Where is the CVV on a money network card?

Your card’s CVV card verification value adds extra security when you’re making card-not-present transactions. It’s a 3- or 4-digit code usually found on the front or back of your card.

What bank is associated with Money Network?

MetaBank

Can I pull money off my card at Walmart?

You can withdraw up to $100 in cash when you spend any amount at Walmart. It’s treated like a purchase, not a cash advance, so it’s not quite as expensive. With Walmart Pay. You get 5% cash back on purchases in Walmart stores when you use the card with Walmart Pay for the first 12 months.

Where can I withdraw money from my network?

You can use your Money Network Card wherever Visa® Debit or Debit Mastercard® are accepted and at virtually any ATM. You can access cash for free at in-network ATMs.

How much money can I withdraw from my money network card?

To find surcharge free ATMs, use the Money Network® locator tool in the Money Network mobile app or online or call Customer Service. Q: Is there an ATM withdrawal limit? A: Yes. For security reasons, you can only withdraw up to $500 per transaction and per day (ATM owner may have lower limits).

Can you use a prepaid card for cash app?

Cash App supports debit and credit cards from Visa, MasterCard, American Express, and Discover. The skeleton key in hindi download government-enabled prepaid cards are also supported, but depositing to these cards does not work. ATM cards, Paypal, and business debit cards are not supported at how to activate walmart prepaid debit card time.

How can I get my money off cash App?

To cash out funds from your Cash App to your bank account:Tap the Balance tab on your Cash App home screen.Press Cash Out.Choose an amount and press Cash Out.Select a deposit speed.Confirm with your PIN or Touch ID.

How much does it cost to withdraw money from cash App?

Cash Cards work at any ATM, with just a $2 fee charged by Cash App. Most ATMs will charge an additional fee for using a card that belongs to a different bank.

Is there a cash out limit on cash App?

Cash App lets you send up to $250 within any 7-day period and receive up to $1,000 within any 30-day period. You can increase these limits by verifying your identity using your full name, date of birth, and the last 4 digits of your SSN.

Источник: https://electroanswers.com/computer-hardware/how-do-i-change-my-pin-on-my-money-network-card/

Personal debit cards Control your money.

Truist Bank, Member FDIC. © 2021 Truist Financial Corporation. Truist, the Truist logo and Truist Purple are service marks of Truist Financial Corporation.

Truist Bank, Member FDIC and an Equal Housing Lender

Investment and Insurance Products:
• Are Not FDIC or any other Government Agency Insured • Are Not Bank Guaranteed • May Lose Value

All Truist mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.

Services provided by the following money card money network of Truist Financial Corporation: Banking products and services, including loans and deposit accounts, are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, and Truist Delaware Trust Company. Securities, brokerage accounts and /or insurance (including annuities) are offered by Truist Investment Services, Inc., and P.J. Robb Variable Corp., which are SEC registered broker-dealers, members FINRASIPC, and a licensed insurance agency where applicable. Investment advisory services are offered by Truist Advisory Services, Inc.GFO Advisory Services, LLC, Sterling Capital Management, LLC, and Precept Advisory Group, LLC, each SEC registered investment advisers. Sterling Capital Funds are advised by Sterling Capital Management, LLC. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank now Truist Bank. Insurance products and services are offered through McGriff Insurance Services, Inc. Life insurance products are offered through Truist Life Insurance Services, a division of Crump Life Insurance Services, Inc., AR license #100103477. Both McGriff and Crump are wholly owned subsidiaries of Truist Insurance Holdings, Inc.

"Truist Advisors" may be officers and/or associated persons of the following affiliates of Truist Financial Corporation: Truist City bank lubbock texas phone number, our commercial bank, which provides banking, trust and asset management services; Truist Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; Truist Advisory Services, Inc., an SEC registered investment adviser which provides Investment Advisory services.

Comments regarding tax implications are informational only. Truist and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.

Truist Wealth, International Wealth, Center for Family Legacy, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are marketing names used by Truist Bank, Truist Investment Services, Inc., and Truist Advisory Services, Inc.

Truist Securities is a trademark of Truist Financial Corporation. Truist Securities is a trade name for the corporate and investment banking services of Truist  Financial Corporation and its subsidiaries. All rights reserved. Securities and strategic advisory services are provided by Truist Securities, Inc., member FINRA and SIPC.  Loan syndications are offered by Truist Securities, Inc. Loans and loan related products are offered by Truist Bank.

Источник: https://www.truist.com/checking/debit-cards

Start using your EIP Card

Safe ★ Convenient ★ Secure

Now that you’ve received your Economic Impact Payment (EIP) Card, here’s how to activate and start using it.

Visit IRS.gov/EIP for more information on Economic Impact Payments.

EIP Card

Curious about how you can use your EIP Card, transfer funds, get cash or obtain a replacement EIP Card?

Get Started

Activate your Card

Use your Card2

  • Shop anywhere Visa® Debit Cards are accepted: in-store, online or by phone, including paying bills3

  • Get cash back at the register with PIN debit purchases at participating merchants

  • Get cash surcharge-free at any in-network ATM - find one with the ATM Locator

  • Learn more about how and where to use your EIP Card in the Help Center

Get your balance

Your EIP Card provides you with quick and easy access

You can use your EIP Card to make purchases where Visa® Debit is accepted — in stores, online or by phone.

Access your stimulus payment with confidence

Your purchases are covered by Visa’s Zero Liability Policy4 so you’ll have peace of mind wherever you shop.

Put your EIP Card to good use

The EIP Card makes it easy to access your money for things like groceries, dining out, shopping for home essentials, or paying bills3.

Источник: https://www.eipcard.com/

WELCOME TO METABANK'S FRESH, NEW WEBSITE

 Important Notice about Economic Impact Payments ("stimulus check"): Boone county sheriff twitter information about your EIP Card (also known as "stimulus card"), please call the number on the back of your card, visit EIPcard.com. For other Economic Impact Payment questions, click here.

MetaBank offers a diverse product suite

The features you've come to expect from MetaBank.com are still here.

Take a few minutes to explore our just-released enhancements.

  • Stay informed and get connected: Want the latest fraud alerts? New product updates? Invitations to "Chat with the Expert" events? Click "Get Connected" to see our information hub, compiled just for you.
  • Simplified card sales: Click the "Cards" icon to buy MetaBank prepaid cards and apply for MetaBank personal credit cards online, day or night.
  • Better calculators: Need help calculating a mortgage or estimating your business valuation? Click on "Tools & Calculators" to see MetaBank's reorganized selection.
Источник: https://www.metabank.com/

How do I upgrade my money network card?

To Upgrade or make your card Reloadable
a. Call Money Network Customer Service at 1-800-822-4283 and ask a Customer Service Representative to “upgrade” your account. b. Login to www.moneynetwork.edu with your card number and PIN and click on “Upgrade” under the “Services” tab.

Click to see full answer.

Regarding this, how long does it take to get a new money network card?

7- 10 business days. You can request that your Card be rush delivered within 2-3 business days for an additional $10 express shipping fee. You can use your Money Network® Checks to access funds until your replacement Card arrives.

Likewise, what bank does money network use? When receiving a direct deposit on a moneynetwork visa card what do you put for the "bank" moneynetwork or Metabank? Generally you use the name of the bank that underlies the prepaid card.

Besides, how do I get a new money network card?

Call Customer Service at 1-866-387-5146 immediately and follow the prompts for the option to report a lost or stolen Card so that a new one can be delivered to you promptly. This option is available without having to log into the system, so your Card number is not required.

Is Money Network a prepaid card?

Money Network helps you simplify your finances with one all-purpose prepaid debit Card for receiving, spending, and managing your money real-time, all the time!

Источник: https://askinglot.com/how-do-i-upgrade-my-money-network-card

youtube video

Money card money network -

The Pros and Cons of a Payroll Card

Payroll cards are a growing trend among small businesses. Research by the Mercator Advisory Group shows that the money loaded onto payroll cards is projected to reach nearly $51 billion by the end of 2021, up from $40.3 billion in 2017.

Payroll cards provide easy access to paychecks without the need for a bank account or banking relationship. The option of payroll cards is a critical necessity for many Americans who cannot – or choose not to – open a bank account.

What is a payroll card?

Payroll cards allow employees to access their paychecks without setting up a bank account. Instead, they function like debit cards: Payroll cards are loaded with a paycheck each pay period and can be used to withdraw cash or make purchases. As a result, payroll cards can be an advantageous tool for small businesses with employees who don't have bank accounts or have limited banking options in their location.

Depending on which payroll card service in which you enroll, it may be more cost-effective to provide a payroll card option to your workers. Printing and handing out checks can be expensive, and certain payroll companies may charge extra for direct deposit.

From a worker's perspective, it's essential to understand the different fees associated with payroll cards, as they aren't exactly like traditional debit cards. While it can be an excellent option for employees with no bank account, you'll have to pay some fees – like charges for ATM withdrawals, balance inquiries, fund transfers, monthly maintenance and account closures. The exact costs will depend on which company you're working with.

Editor's note: Looking for the right payroll service for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

Payroll card pros and cons

Payroll card pros

Here are some benefits of using payroll cards:

  • They're a simple, easy way for employees to access their paychecks without opening a bank account.

  • Lost or stolen payroll cards are easy to replace (for a fee).

  • Workers can access their funds immediately and conveniently.

Payroll card cons

These are some disadvantages of using payroll cards:

  • Bank accounts provide interest, whereas payroll cards do not.

  • Direct deposits cannot be lost or stolen like a payroll card can.

  • Additional fees apply – such as when an employee views their balance.

Payroll card providers

You have several payroll card providers to choose from for your small business. Some of the best payroll services offer payroll cards as a way to compensate employees. If you're working with a major payroll provider, talk with your representative to determine the best options for your business.

According to the American Payroll Association, these are some options to consider:

  • Money Network: This company offers payroll cards and an intuitive online experience to manage your payroll card offering. It provides enhanced security, flexible deposit options and limited liability. Additionally, Money Network backs all its funds with the Federal Deposit Insurance Corporation. The zero-liability protection means your employees are covered if something happens to their payroll card. The company has more than 20 years of experience as a prepaid debit processing company, so you'll be partnering with an established industry provider.

  • Netspend Skylight ONE Card: Netspend is one of the largest payment programs in the country and offers flexible enrollment and electronic reporting. It provides an online portal where your workers can view their online deposits and statements. As a full-service partner, Netspend provides support for setup, marketing, training and compliance.

  • Rapid PayCard: This payroll card from Mastercard offers a 100% e-payroll solution for its clients. There are several distribution options, including e-wallet payouts, digital checks and various payroll cards. It offers instant payment and electronic payroll delivery at zero cost. It also provides electronic pay stubs and other convenient features for you and your workers.

  • S. Bank: U.S. Bank provides payroll cards to small businesses, making it one of the few major banking institutions that backs payroll card initiatives. Its payroll card initiative is calle Focus, and it includes fraud protection, online purchasing and 100% electronic payments. It also provides text and email alerts, cash-back rewards programs, savings account features, and a mobile app.

  • Wisely Pay by ADP: Wisely is a payroll card provider backed by ADP, one of the largest payroll processing and HR management companies in the United States. It offers fee-free cash access at ATMs and banks, and free cash back at retailers. Wisely also has a mobile app where users can manage funds. It also offers multiple sources for funding, so you can connect other paychecks or tax refunds to your Wisely account. It's compliant in all 50 states, and there is high-level support for small companies.

How to transfer money from a payroll card to a bank account

Transferring money from your payroll card to a bank account can be complicated or straightforward, depending on which payroll card provider you choose. Surprisingly, there isn't much information out there on how to transfer funds from a payroll card to a bank account. Some services build it into their offerings, while you may have to speak with your bank or payroll card provider for transfers.

Payroll card alternatives

If your business offers your employees a payroll card, you must also provide an option for direct deposit or paper checks to be compliant with labor laws. 

These are some other payroll card alternatives to consider. Some require the employee to have a bank account, while more traditional methods accommodate the unbanked.

Direct deposit

Direct deposit allows your employees to receive their paychecks electronically. During the onboarding process, employees will provide HR with their checking or savings account information. On payday, you'll use this information to transfer employees' pay directly into their bank accounts.

Although employees need a bank account to take advantage of direct deposit, it's a win-win: It eliminates the need for paper checks on your end, and your workers can cut down on trips to the bank.

Did you know?Did you know?Direct deposit is the most common form of payment from an employer to employee in the U.S. Nearly 94% of employees use direct deposit to receive their paychecks.

ACH transfer

In the 1970s, the Automated Clearing House (ACH) improved how money was electronically transferred between banks. It not only solved the onslaught of paper checks, but featured bank-level encryption to reduce fraud. 

ACH provides a direct link between two bank accounts. ACH transfers can be grouped between the two banks, and all transactions are held and checked before bulk processing. There are two ACH transfer types: ACH direct deposit and ACH direct payments.

PayPal

PayPal has become a top alternative for companies that hire freelancers and contractors. Whether you employ one-time, seasonal, or part-time workers, PayPal can eliminate the need for paper checks and pay cards.

Contractors can even invoice you directly through PayPal to help keep your bookkeeping accurate. When sending a payment, check the Service box. This option will correctly categorize this payment, apply appropriate fees, and provide an instant payment option for the freelancer. 

Mobile wallet

As the number of smartphone users continues to rise, so does the access to mobile

payments. According to estimates from eMarketer, over 100 million consumers used mobile payments in 2021.

Fueled by the pandemic, Americans are adopting contactless payments as the new norm. As more and more banks focus on a digital footprint, employees can upgrade their traditional direct deposit for instant pay through Cash App, Venmo, PayPal, Apple Pay, Google Pay and Zelle. [Read Article: Mobile Wallet Guide: Google Pay vs. Apple Pay vs. Samsung Pay​​]

Paper checks

With all of the digital options available, it may surprise you that the paper check is still widely used among small and midsize businesses. These companies lack payroll software and view paper checks as a trusted payment method. 

Cash

Cash is a legal way to pay your employees; however, it's not the generally preferred way for several reasons. Although you may save on fees, paying cash is tedious, as you will need to track accounting for your business manually. This can lead to human error, IRS audits and disgruntled employees. It also requires frequent trips to the bank to handle cash shortages and exact change. Once all of the worker paychecks are figured, you will have to deliver each one by hand. 

TipTip: With all of the time spent calculating payroll and fixing mistakes when paying employees with cash, you would be better served by looking into a low-cost payroll system.

Payroll card FAQs

Is a payroll card a debit card?

Essentially, yes. They function in the same manner. A financial institution will hold the deposited money in an individual account, and the payroll card provides access to the money much like a debit card. Alerts can be set up to notify the account owner of low balances, or when funds become available after a deposit. Also, payroll cards tend to be affiliated with one of the major credit card issuers – such as Visa, MasterCard or American Express.

Can employers only offer payroll cards as a payment method?

No. Despite the growing popularity of payroll cards, federal banking laws require businesses to offer employees at least one additional payment option. Payroll cards generally cost a business $7 per month per employee, whereas paper checks can cost $23 per month per employee. Given the high cost of paper checks, direct deposit is usually the second option. That is not to suggest that employers must only offer two forms of payment. Each state retains the right to regulate the specific methods of payment offered to employees.

Where can employees use payroll cards?

Payroll cards are generally accepted anywhere that you would typically use a standard bank account debit card. They hold the same buying power as bank cards and can be used at stores, gas pumps, and even ATMs. Cash can be taken out of the account at ATMs, or by using a cash-back option at grocery or retail stores. Payroll cards can also be used to make payments online, on any sites that would accept the same brand of debit card.

Can you deposit money on a payroll card?

The ability to deposit money on a payroll card depends on the services the provider offers. Some cards offer the option to add money at a money exchange center or ATM, while some do not. Review your provider's terms to see if this option is available.

Is direct deposit or a payroll card better?

Determining whether a direct deposit or payroll card is better for your business greatly depends on your situation and preferences. If most of your employees do not have a bank account, it may be easier – and cheaper – to use payroll cards.

Payroll card fees can add up. Some cards have very few associated fees, while other cards charge a fee for normal monthly use, like withdrawing funds from an ATM. Also, not every card offers the option to deposit non-payroll money onto it.

Bottom line on payroll cards

Payroll cards are an ideal option if you're looking to save money on processing payroll. They are also a vital tool for employees who don't have bank accounts. 

Most of the large payroll processing companies offer small businesses a payroll card option. Additionally, a host of third-party companies can provide independent services, should your organization process payroll manually or work with a partner that doesn't offer payroll card services.

Payroll cards can be a great way to securely compensate your employees while saving money on direct deposit fees and paper check overhead. However, you should be aware of the fees and conditions associated with payroll cards. You should also offer a payroll card that provides an online portal or mobile app.

There are several pros and cons of using payroll cards. However, the best option for your business depends on your workers, your company's needs and the overall cost.

Matt D'Angelo contributed to the writing and research in this article.

Источник: https://www.business.com/articles/payroll-card-pros-cons/

Start using your EIP Card

Safe ★ Convenient ★ Secure

Now that you’ve received your Economic Impact Payment (EIP) Card, here’s how to activate and start using it.

Visit IRS.gov/EIP for more information on Economic Impact Payments.

EIP Card

Curious about how you can use your EIP Card, transfer funds, get cash or obtain a replacement EIP Card?

Get Started

Activate your Card

Use your Card2

  • Shop anywhere Visa® Debit Cards are accepted: in-store, online or by phone, including paying bills3

  • Get cash back at the register with PIN debit purchases at participating merchants

  • Get cash surcharge-free at any in-network ATM - find one with the ATM Locator

  • Learn more about how and where to use your EIP Card in the Help Center

Get your balance

Your EIP Card provides you with quick and easy access

You can use your EIP Card to make purchases where Visa® Debit is accepted — in stores, online or by phone.

Access your stimulus payment with confidence

Your purchases are covered by Visa’s Zero Liability Policy4 so you’ll have peace of mind wherever you shop.

Put your EIP Card to good use

The EIP Card makes it easy to access your money for things like groceries, dining out, shopping for home essentials, or paying bills3.

Источник: https://www.eipcard.com/

Introducing The ultimate mobile bank account

Not a gift card. Must be 18 or older to purchase. Activation requires online access, mobile number and identity verification (including SSN) to open an account and access all features. Activated, personalized card required to access some features.

Green Dot Cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. These registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot is a registered trademark of Green Dot Corporation.​

Banking services provided by, and the Uber Visa Debit Card, is issued by GoBank, a brand of Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

Banking services provided by, and Intuit Visa Debit Card, is issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc.

GO2bank Card issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. ​

The Walmart MoneyCard MasterCard Card is issued by Green Dot Bank pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

The RushCard Prepaid Visa® Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card accepted everywhere Visa debit cards are accepted. RushCard are registered trademarks of UniRush, LLC. All other trademarks, service marks and other registered marks are the property of their respective owners. 

All third-party names and logos are trademarks of their respective owners. These owners are not affiliated with Green Dot and have not sponsored or endorsed Green Dot products or services.

Источник: https://www.greendot.com/

WELCOME TO METABANK'S FRESH, NEW WEBSITE

 Important Notice about Economic Impact Payments ("stimulus check"): For information about your EIP Card (also known as "stimulus card"), please call the number on the back of your card, visit EIPcard.com. For other Economic Impact Payment questions, click here.

MetaBank offers a diverse product suite

The features you've come to expect from MetaBank.com are still here.

Take a few minutes to explore our just-released enhancements.

  • Stay informed and get connected: Want the latest fraud alerts? New product updates? Invitations to "Chat with the Expert" events? Click "Get Connected" to see our information hub, compiled just for you.
  • Simplified card sales: Click the "Cards" icon to buy MetaBank prepaid cards and apply for MetaBank personal credit cards online, day or night.
  • Better calculators: Need help calculating a mortgage or estimating your business valuation? Click on "Tools & Calculators" to see MetaBank's reorganized selection.
Источник: https://www.metabank.com/

Personal debit cards Control your money.

Truist Bank, Member FDIC. © 2021 Truist Financial Corporation. Truist, the Truist logo and Truist Purple are service marks of Truist Financial Corporation.

Truist Bank, Member FDIC and an Equal Housing Lender

Investment and Insurance Products:
• Are Not FDIC or any other Government Agency Insured • Are Not Bank Guaranteed • May Lose Value

All Truist mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.

Services provided by the following affiliates of Truist Financial Corporation: Banking products and services, including loans and deposit accounts, are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, and Truist Delaware Trust Company. Securities, brokerage accounts and /or insurance (including annuities) are offered by Truist Investment Services, Inc., and P.J. Robb Variable Corp., which are SEC registered broker-dealers, members FINRASIPC, and a licensed insurance agency where applicable. Investment advisory services are offered by Truist Advisory Services, Inc. , GFO Advisory Services, LLC, Sterling Capital Management, LLC, and Precept Advisory Group, LLC, each SEC registered investment advisers. Sterling Capital Funds are advised by Sterling Capital Management, LLC. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank now Truist Bank. Insurance products and services are offered through McGriff Insurance Services, Inc. Life insurance products are offered through Truist Life Insurance Services, a division of Crump Life Insurance Services, Inc., AR license #100103477. Both McGriff and Crump are wholly owned subsidiaries of Truist Insurance Holdings, Inc.

"Truist Advisors" may be officers and/or associated persons of the following affiliates of Truist Financial Corporation: Truist Bank, our commercial bank, which provides banking, trust and asset management services; Truist Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; Truist Advisory Services, Inc., an SEC registered investment adviser which provides Investment Advisory services.

Comments regarding tax implications are informational only. Truist and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.

Truist Wealth, International Wealth, Center for Family Legacy, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are marketing names used by Truist Bank, Truist Investment Services, Inc., and Truist Advisory Services, Inc.

Truist Securities is a trademark of Truist Financial Corporation. Truist Securities is a trade name for the corporate and investment banking services of Truist  Financial Corporation and its subsidiaries. All rights reserved. Securities and strategic advisory services are provided by Truist Securities, Inc., member FINRA and SIPC.  Loan syndications are offered by Truist Securities, Inc. Loans and loan related products are offered by Truist Bank.

Источник: https://www.truist.com/checking/debit-cards

Better online banking
with T-Mobile MONEY.

4.00% APY and Get Paid Early Disclosures

How APY works: As a T-Mobile MONEY customer you earn 4.00% annual percentage yield (APY) on balances up to and including $3,000 in your Checking Account per month when: 1) you are enrolled in a qualifying T-Mobile postpaid wireless plan; 2) you have registered for perks with your T-Mobile ID; and 3) at least 10 qualifying purchases using your T-Mobile MONEY card have posted to your Checking Account before the last business day of the month. Qualifying purchases posting on or after the last business day of the month count toward the next month’s qualifying purchases. The first time you fund your account, as an additional added value, you will receive 4.00% APY on balances up to and including $3,000 in the statement cycle in which you make your first deposit of greater than $1, as well as in the cycle that follows that deposit provided all other requirements are met. These added value benefits are subject to change. Balances above $3,000 in the Checking Account earn 1.00% APY. The APY for this tier will range from 4.00% to 2.79% depending on the balance in the account (calculation based on a $5,000 average daily balance). Customers who do not qualify for the 4.00% APY will earn 1.00% APY on all Checking Account balances for any month(s) in which they do not meet the requirements listed above. APYs are accurate as of 10/28/2021 but may change at any time at our discretion. Fees may reduce earnings. Additional restrictions apply. For more information, see Account Disclosures / Terms and Conditions or go to our FAQs.

Get paid up to 2 days early with direct deposit: Subject to description and timing of the employer payroll-based direct deposit, we typically make funds available the business day received, which may be up to 2 days earlier than scheduled.

4.00% APY Disclosure

How APY works: As a T-Mobile MONEY customer you earn 4.00% annual percentage yield (APY) on balances up to and including $3,000 in your Checking Account per month when: 1) you are enrolled in a qualifying T-Mobile postpaid wireless plan; 2) you have registered for perks with your T-Mobile ID; and 3) at least 10 qualifying purchases using your T-Mobile MONEY card have posted to your Checking Account before the last business day of the month. Qualifying purchases posting on or after the last business day of the month count toward the next month’s qualifying purchases. The first time you fund your account, as an additional added value, you will receive 4.00% APY on balances up to and including $3,000 in the statement cycle in which you make your first deposit of greater than $1, as well as in the cycle that follows that deposit provided all other requirements are met. These added value benefits are subject to change. Balances above $3,000 in the Checking Account earn 1.00% APY. The APY for this tier will range from 4.00% to 2.79% depending on the balance in the account (calculation based on a $5,000 average daily balance). Customers who do not qualify for the 4.00% APY will earn 1.00% APY on all Checking Account balances for any month(s) in which they do not meet the requirements listed above. APYs are accurate as of 10/28/2021 but may change at any time at our discretion. Fees may reduce earnings. Additional restrictions apply. For more information, see Account Disclosures / Terms and Conditions or go to our FAQs.

T-Mobile MONEY Specialists

T-Mobile MONEY Specialists do not provide financial, tax, or investment advice.

Got Your Back overdraft protection

How Got Your Back works: Available only to T-Mobile wireless customers with a line on a qualifying postpaid plan who have registered for perks. Got Your Back overdraft protection will begin once at least 10 qualifying purchases using your T-Mobile MONEY card have posted to your Checking Account before the last business day of the month. You are only required to meet this purchase requirement once to receive Got Your Back benefits. See "Got Your Back" Terms and Conditions for more details.

Источник: https://www.t-mobilemoney.com/en/home.html
money card money network
money card money network

Money card money network -

WELCOME TO METABANK'S FRESH, NEW WEBSITE

 Important Notice about Economic Impact Payments ("stimulus check"): For information about your EIP Card (also known as "stimulus card"), please call the number on the back of your card, visit EIPcard.com. For other Economic Impact Payment questions, click here.

MetaBank offers a diverse product suite

The features you've come to expect from MetaBank.com are still here.

Take a few minutes to explore our just-released enhancements.

  • Stay informed and get connected: Want the latest fraud alerts? New product updates? Invitations to "Chat with the Expert" events? Click "Get Connected" to see our information hub, compiled just for you.
  • Simplified card sales: Click the "Cards" icon to buy MetaBank prepaid cards and apply for MetaBank personal credit cards online, day or night.
  • Better calculators: Need help calculating a mortgage or estimating your business valuation? Click on "Tools & Calculators" to see MetaBank's reorganized selection.
Источник: https://www.metabank.com/

How do I upgrade my money network card?

To Upgrade or make your card Reloadable
a. Call Money Network Customer Service at 1-800-822-4283 and ask a Customer Service Representative to “upgrade” your account. b. Login to www.moneynetwork.edu with your card number and PIN and click on “Upgrade” under the “Services” tab.

Click to see full answer.

Regarding this, how long does it take to get a new money network card?

7- 10 business days. You can request that your Card be rush delivered within 2-3 business days for an additional $10 express shipping fee. You can use your Money Network® Checks to access funds until your replacement Card arrives.

Likewise, what bank does money network use? When receiving a direct deposit on a moneynetwork visa card what do you put for the "bank" moneynetwork or Metabank? Generally you use the name of the bank that underlies the prepaid card.

Besides, how do I get a new money network card?

Call Customer Service at 1-866-387-5146 immediately and follow the prompts for the option to report a lost or stolen Card so that a new one can be delivered to you promptly. This option is available without having to log into the system, so your Card number is not required.

Is Money Network a prepaid card?

Money Network helps you simplify your finances with one all-purpose prepaid debit Card for receiving, spending, and managing your money real-time, all the time!

Источник: https://askinglot.com/how-do-i-upgrade-my-money-network-card

EIP Card: How to Get Your Money Without Fees

The IRS has sent out the Economic Impact Payment (EIP) in the form of a debit card to qualifying taxpayers who may not have a bank account to receive direct deposit or to deposit a mailed stimulus check.

As these taxpayers receive their EIP debit cards, they may be wondering how to access their money without getting hit by a bunch of fees.

Yes, the EIP card does have some fees involved for certain types of transactions.

That said:

It is entirely possible to use, transfer, and withdraw all of the funds without getting hit by a single fee.

Find out about the different ways to do so.

How to Access Your Money Without Fees

Depending on what you want to do with your stimulus payment, you might prefer a specific method of collecting your money.

Or, use a mixture of the following methods to get your money out as fast as possible.

Withdraw cash from an in-network ATM

The EIP card allows you to withdraw cash without a surcharge from more than 55,000 ATMs in the U.S., Mexico, Canada, Puerto Rico, Australia, and the United Kingdom with the AllPoint ATM network.

These in-network ATMs are commonly found at local drugstores, supermarkets, convenience stores, and major retailers such as Target, Walmart, and Costco.

  1. Find and visit an AllPoint ATM near you. (The Money Network also has this locator tool.)
  2. At the ATM, enter your 4-digit PIN (your PIN is in the mail sent along with the card).
  3. Select “Withdrawal” from “Checking” and enter the amount of cash that you want to take out.

The card’s daily ATM withdrawal limit is $1,000.

So, you will need to make multiple trips on separate days to withdraw the entire balance on the EIP card.

Transfer funds to your own bank account

It is free to transfer the funds in the EIP card to an existing bank account.

You will need to:

  1. Activate your card, call 1-(800)-240-8100.
  2. Register an account for online or mobile app access, visit EIPCard.com or download the free Money Network Mobile App (available on Apple iOS and Android platforms).
  3. Having your bank account routing number and account number ready.

Once you’re set up, you can log into your account online or through the mobile app to transfer funds to your bank account.

The ACH transfer limit is $2,500 per day or $5,000 per month.

For married couples with dependents, you may not be able to transfer all the money from the EIP card in one day.

Request a Money Network check

Cardholders can request checks with amounts deducted from your EIP card balance.

To request checks, you must call customer service at 1(800)-240-8100.

For each check to be written, you have to call the number on the back of your card and go through an automated phone call to receive an issuer number and transaction number to activate the check and have the check amount deducted immediately from your EIP card balance.

This method could be handy for bills and rent.

Spend it

Point-of-sale transactions are free, so you can use the EIP card for shopping in the same way that you normally would with any debit card (merchants must accept Visa debit).

Be mindful:

Any purchases that will exceed the balance of the card will be denied. Overdrafts on the EIP card are not possible.

The daily point-of-sale transaction limit is $2,500.

EIP Card Fees to Avoid

Compared to many prepaid debit cards and reloadable debit cards on the market (the EIP Card is not reloadable), the EIP Card has an extremely consumer-friendly fee schedule.

Here are the most common card fees to avoid:

Out-of-network ATM withdrawals

The EIP Card charges $2 per out-of-network ATM withdrawal (waived for the first time).

The catch:

The ATM operator may impose a surcharge on top of the EIP Card’s fee. The surcharge is usually around $3.

So, with the EIP Card, expect the first out-of-network ATM withdrawal to cost about $3 in fees while all subsequent out-of-network ATM withdrawals to cost about $5 in fees.

To avoid this fee: Stick to in-network ATM withdrawals as much as possible.

ATM balance inquiry fee

The card has a $0.25 to check your card balance at any ATM. 

Even worse:

If you check the card balance in an out-of-network ATM, the ATM operator may impose a surcharge on top of the EIP Card’s fee.

To avoid this fee: Check your card balance online at EIPCard.com or through the Money Network Mobile App.

Funds Are Insured

Many cardholders may be concerned about leaving their money in the EIP Card.

While it would be the wisest move to get the funds out of the card as soon as possible, rest assured that the funds are FDIC-insured because the deposits are held in MetaBank, an FDIC-insured institution.

If you lose your card, it is reissued for free for the first time. If you lose your card, subsequent reissued cards will be $7.50 each (an additional $17 for expedited card replacement).

Conclusion

The EIP Card is a financial lifeline for many Americans and it’s important to keep as much of that money as possible.

Fortunately, it is rather easy to collect all the stimulus funds without losing any of it to fees.

Continue Reading

Источник: https://www.mybanktracker.com

The Pros and Cons of a Payroll Card

Payroll cards are a growing trend among small businesses. Research by the Mercator Advisory Group shows that the money loaded onto payroll cards is projected to reach nearly $51 billion by the end of 2021, up from $40.3 billion in 2017.

Payroll cards provide easy access to paychecks without the need for a bank account or banking relationship. The option of payroll cards is a critical necessity for many Americans who cannot – or choose not to – open a bank account.

What is a payroll card?

Payroll cards allow employees to access their paychecks without setting up a bank account. Instead, they function like debit cards: Payroll cards are loaded with a paycheck each pay period and can be used to withdraw cash or make purchases. As a result, payroll cards can be an advantageous tool for small businesses with employees who don't have bank accounts or have limited banking options in their location.

Depending on which payroll card service in which you enroll, it may be more cost-effective to provide a payroll card option to your workers. Printing and handing out checks can be expensive, and certain payroll companies may charge extra for direct deposit.

From a worker's perspective, it's essential to understand the different fees associated with payroll cards, as they aren't exactly like traditional debit cards. While it can be an excellent option for employees with no bank account, you'll have to pay some fees – like charges for ATM withdrawals, balance inquiries, fund transfers, monthly maintenance and account closures. The exact costs will depend on which company you're working with.

Editor's note: Looking for the right payroll service for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

Payroll card pros and cons

Payroll card pros

Here are some benefits of using payroll cards:

  • They're a simple, easy way for employees to access their paychecks without opening a bank account.

  • Lost or stolen payroll cards are easy to replace (for a fee).

  • Workers can access their funds immediately and conveniently.

Payroll card cons

These are some disadvantages of using payroll cards:

  • Bank accounts provide interest, whereas payroll cards do not.

  • Direct deposits cannot be lost or stolen like a payroll card can.

  • Additional fees apply – such as when an employee views their balance.

Payroll card providers

You have several payroll card providers to choose from for your small business. Some of the best payroll services offer payroll cards as a way to compensate employees. If you're working with a major payroll provider, talk with your representative to determine the best options for your business.

According to the American Payroll Association, these are some options to consider:

  • Money Network: This company offers payroll cards and an intuitive online experience to manage your payroll card offering. It provides enhanced security, flexible deposit options and limited liability. Additionally, Money Network backs all its funds with the Federal Deposit Insurance Corporation. The zero-liability protection means your employees are covered if something happens to their payroll card. The company has more than 20 years of experience as a prepaid debit processing company, so you'll be partnering with an established industry provider.

  • Netspend Skylight ONE Card: Netspend is one of the largest payment programs in the country and offers flexible enrollment and electronic reporting. It provides an online portal where your workers can view their online deposits and statements. As a full-service partner, Netspend provides support for setup, marketing, training and compliance.

  • Rapid PayCard: This payroll card from Mastercard offers a 100% e-payroll solution for its clients. There are several distribution options, including e-wallet payouts, digital checks and various payroll cards. It offers instant payment and electronic payroll delivery at zero cost. It also provides electronic pay stubs and other convenient features for you and your workers.

  • S. Bank: U.S. Bank provides payroll cards to small businesses, making it one of the few major banking institutions that backs payroll card initiatives. Its payroll card initiative is calle Focus, and it includes fraud protection, online purchasing and 100% electronic payments. It also provides text and email alerts, cash-back rewards programs, savings account features, and a mobile app.

  • Wisely Pay by ADP: Wisely is a payroll card provider backed by ADP, one of the largest payroll processing and HR management companies in the United States. It offers fee-free cash access at ATMs and banks, and free cash back at retailers. Wisely also has a mobile app where users can manage funds. It also offers multiple sources for funding, so you can connect other paychecks or tax refunds to your Wisely account. It's compliant in all 50 states, and there is high-level support for small companies.

How to transfer money from a payroll card to a bank account

Transferring money from your payroll card to a bank account can be complicated or straightforward, depending on which payroll card provider you choose. Surprisingly, there isn't much information out there on how to transfer funds from a payroll card to a bank account. Some services build it into their offerings, while you may have to speak with your bank or payroll card provider for transfers.

Payroll card alternatives

If your business offers your employees a payroll card, you must also provide an option for direct deposit or paper checks to be compliant with labor laws. 

These are some other payroll card alternatives to consider. Some require the employee to have a bank account, while more traditional methods accommodate the unbanked.

Direct deposit

Direct deposit allows your employees to receive their paychecks electronically. During the onboarding process, employees will provide HR with their checking or savings account information. On payday, you'll use this information to transfer employees' pay directly into their bank accounts.

Although employees need a bank account to take advantage of direct deposit, it's a win-win: It eliminates the need for paper checks on your end, and your workers can cut down on trips to the bank.

Did you know?Did you know?Direct deposit is the most common form of payment from an employer to employee in the U.S. Nearly 94% of employees use direct deposit to receive their paychecks.

ACH transfer

In the 1970s, the Automated Clearing House (ACH) improved how money was electronically transferred between banks. It not only solved the onslaught of paper checks, but featured bank-level encryption to reduce fraud. 

ACH provides a direct link between two bank accounts. ACH transfers can be grouped between the two banks, and all transactions are held and checked before bulk processing. There are two ACH transfer types: ACH direct deposit and ACH direct payments.

PayPal

PayPal has become a top alternative for companies that hire freelancers and contractors. Whether you employ one-time, seasonal, or part-time workers, PayPal can eliminate the need for paper checks and pay cards.

Contractors can even invoice you directly through PayPal to help keep your bookkeeping accurate. When sending a payment, check the Service box. This option will correctly categorize this payment, apply appropriate fees, and provide an instant payment option for the freelancer. 

Mobile wallet

As the number of smartphone users continues to rise, so does the access to mobile

payments. According to estimates from eMarketer, over 100 million consumers used mobile payments in 2021.

Fueled by the pandemic, Americans are adopting contactless payments as the new norm. As more and more banks focus on a digital footprint, employees can upgrade their traditional direct deposit for instant pay through Cash App, Venmo, PayPal, Apple Pay, Google Pay and Zelle. [Read Article: Mobile Wallet Guide: Google Pay vs. Apple Pay vs. Samsung Pay​​]

Paper checks

With all of the digital options available, it may surprise you that the paper check is still widely used among small and midsize businesses. These companies lack payroll software and view paper checks as a trusted payment method. 

Cash

Cash is a legal way to pay your employees; however, it's not the generally preferred way for several reasons. Although you may save on fees, paying cash is tedious, as you will need to track accounting for your business manually. This can lead to human error, IRS audits and disgruntled employees. It also requires frequent trips to the bank to handle cash shortages and exact change. Once all of the worker paychecks are figured, you will have to deliver each one by hand. 

TipTip: With all of the time spent calculating payroll and fixing mistakes when paying employees with cash, you would be better served by looking into a low-cost payroll system.

Payroll card FAQs

Is a payroll card a debit card?

Essentially, yes. They function in the same manner. A financial institution will hold the deposited money in an individual account, and the payroll card provides access to the money much like a debit card. Alerts can be set up to notify the account owner of low balances, or when funds become available after a deposit. Also, payroll cards tend to be affiliated with one of the major credit card issuers – such as Visa, MasterCard or American Express.

Can employers only offer payroll cards as a payment method?

No. Despite the growing popularity of payroll cards, federal banking laws require businesses to offer employees at least one additional payment option. Payroll cards generally cost a business $7 per month per employee, whereas paper checks can cost $23 per month per employee. Given the high cost of paper checks, direct deposit is usually the second option. That is not to suggest that employers must only offer two forms of payment. Each state retains the right to regulate the specific methods of payment offered to employees.

Where can employees use payroll cards?

Payroll cards are generally accepted anywhere that you would typically use a standard bank account debit card. They hold the same buying power as bank cards and can be used at stores, gas pumps, and even ATMs. Cash can be taken out of the account at ATMs, or by using a cash-back option at grocery or retail stores. Payroll cards can also be used to make payments online, on any sites that would accept the same brand of debit card.

Can you deposit money on a payroll card?

The ability to deposit money on a payroll card depends on the services the provider offers. Some cards offer the option to add money at a money exchange center or ATM, while some do not. Review your provider's terms to see if this option is available.

Is direct deposit or a payroll card better?

Determining whether a direct deposit or payroll card is better for your business greatly depends on your situation and preferences. If most of your employees do not have a bank account, it may be easier – and cheaper – to use payroll cards.

Payroll card fees can add up. Some cards have very few associated fees, while other cards charge a fee for normal monthly use, like withdrawing funds from an ATM. Also, not every card offers the option to deposit non-payroll money onto it.

Bottom line on payroll cards

Payroll cards are an ideal option if you're looking to save money on processing payroll. They are also a vital tool for employees who don't have bank accounts. 

Most of the large payroll processing companies offer small businesses a payroll card option. Additionally, a host of third-party companies can provide independent services, should your organization process payroll manually or work with a partner that doesn't offer payroll card services.

Payroll cards can be a great way to securely compensate your employees while saving money on direct deposit fees and paper check overhead. However, you should be aware of the fees and conditions associated with payroll cards. You should also offer a payroll card that provides an online portal or mobile app.

There are several pros and cons of using payroll cards. However, the best option for your business depends on your workers, your company's needs and the overall cost.

Matt D'Angelo contributed to the writing and research in this article.

Источник: https://www.business.com/articles/payroll-card-pros-cons/

Start using your EIP Card

Safe ★ Convenient ★ Secure

Now that you’ve received your Economic Impact Payment (EIP) Card, here’s how to activate and start using it.

Visit IRS.gov/EIP for more information on Economic Impact Payments.

EIP Card

Curious about how you can use your EIP Card, transfer funds, get cash or obtain a replacement EIP Card?

Get Started

Activate your Card

Use your Card2

  • Shop anywhere Visa® Debit Cards are accepted: in-store, online or by phone, including paying bills3

  • Get cash back at the register with PIN debit purchases at participating merchants

  • Get cash surcharge-free at any in-network ATM - find one with the ATM Locator

  • Learn more about how and where to use your EIP Card in the Help Center

Get your balance

Your EIP Card provides you with quick and easy access

You can use your EIP Card to make purchases where Visa® Debit is accepted — in stores, online or by phone.

Access your stimulus payment with confidence

Your purchases are covered by Visa’s Zero Liability Policy4 so you’ll have peace of mind wherever you shop.

Put your EIP Card to good use

The EIP Card makes it easy to access your money for things like groceries, dining out, shopping for home essentials, or paying bills3.

Источник: https://www.eipcard.com/

Comments

  1. I'm a Financial Advisor. From time to time, my "inactive" clients will receive a letter to verify that their still alive. If they don't respond within so many days, or if I don't respond on their behalf, yes the money transfers to an account with the state. It's CRAZY to me!!! Don't wanna be disrespectful, but there are some "brain-dead" folks working at banks - like no common sense!! They tend to hire a lot of very young/inexperienced tellers and pay them next to nothing!! Banks tend to go thru employees like water. Anyway, good luck!!

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