Topic: Tax refund on a prepaid debit card
no photo
Sat 02/02/08 10:18 AM
My friend just called and said she did her taxes on Friday (she knows I'm going down later today to do mine) she said she had her refund put on a prepaid mastercard for about 25$ ...she thinks she struck gold....cause' she's picking the card up end of next week.
hmmmmmm...aren't they gonna hit her with all kinds of fees? Anyone know or have experience with this?

angee's photo
Sat 02/02/08 10:19 AM
from what the tax people told me, when you try to get cash off of it there is a fee for the atm and the card.. hope that helps some..
flowerforyou

no photo
Sat 02/02/08 10:20 AM
YOU KNOW THEY WILL..........CR.CARD COMPANIES GET AWAY WITH MURDER NOWADAYS...........sad

hellkitten54's photo
Sat 02/02/08 10:20 AM
I would NEVER get a tax refund on one of those things. I have gotten two rebates, from two different companies and it really bothered me that they both sent me pre-paid visa's for my rebate. I paid cash to purchase their products and expect the same in return.grumble The only thing I want with a Visa on it is my check card.

no photo
Sat 02/02/08 10:22 AM
Due to financial difficulties I can't myself have direct deposit this year....almost worth waiting for it via mail...except for the fact that it will be a b*tch cashing them :angry:

msjkk2020's photo
Sat 02/02/08 10:24 AM
There are charges in addition to what she is paying up front...it's like a dollor every time she uses the card, the atm charge is charged from the institution that owns the machine and from the company that holds the card account, so that adds up to about 3-4 bucks with each atm use. If she calls the 1-800 number to check her balance, that is another 50cent to $1 charge...so yea, they get there money every time she uses the card.....

no photo
Sat 02/02/08 10:24 AM

I would NEVER get a tax refund on one of those things. I have gotten two rebates, from two different companies and it really bothered me that they both sent me pre-paid visa's for my rebate. I paid cash to purchase their products and expect the same in return.grumble The only thing I want with a Visa on it is my check card.


I hear ya Hellkitten! I rather pay a check cashing place upfront...then get hit with fee's every time I need to use a c/c

dcrdnk's photo
Sat 02/02/08 10:25 AM

My friend just called and said she did her taxes on Friday (she knows I'm going down later today to do mine) she said she had her refund put on a prepaid mastercard for about 25$ ...she thinks she struck gold....cause' she's picking the card up end of next week.
hmmmmmm...aren't they gonna hit her with all kinds of fees? Anyone know or have experience with this?



I had the same thing done. As long as you don't use an ATM there is no charge.

glasses

timmyschillin's photo
Sat 02/02/08 10:26 AM
I have a prepaid debit card, some atms charge as much as $3 to get money off there. Others charge as little as $1.50 --- It's really good to have to pay billsand online purchases and stuff, but getting cash back from an ATM can be costly if you're not pulling out in large amounts.

timmyschillin's photo
Sat 02/02/08 10:27 AM
TIP: Don't put all of your money on there, keep like $100 cash in your pocket!

timmyschillin's photo
Sat 02/02/08 10:28 AM
The only fees she'll get from the actual refund transaction is from the bank for a early anticipation loan. The debit card company itself only charges maybe a $5 fee for loading money on to the card. They have to make money somehow!

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Sat 02/02/08 10:29 AM

TIP: Don't put all of your money on there, keep like $100 cash in your pocket!


You have that option Timmy?


daniel48706's photo
Sat 02/02/08 10:32 AM
The prepaid debit card from hr block is wonderful. I dont know about other places though.
I paid 30 dollars outta my taxes to have it done, and everythign was just like with your checking acount debit card. I was given the card immediately, the money was available within 24 hours (althuogh it CAN take a while longer sometimes).

You use the card just like you would the debit card from your checking account, either as credit or as debit (debit you can be charged a fee for, just like with an atm machine, but credit is a free transaction). You can use it at atms, banks, cash registers, internet, over the pphone, etc. It is extremely versatile and just as safe as your bank card.

no photo
Sat 02/02/08 10:37 AM
Was there the option to put 1/2 on a card and 1/2 on a check!

daniel48706's photo
Sat 02/02/08 03:15 PM
the only option was to have it put on the card, direct deposited, or mailed to you. Here, in Michigan I was able to have both federal AND state added t the card this year, instead of just federal (like last year).