What do you think of Visa Prepaid Card from Walmart?
by Author on Tuesday, September 7th, 2010 | 2 Comments
I know you have to pay to get one, but it only costs around . I'm just wondering, do I have to pay monthly payments to keep the visa card? If I use any atm machine, will it charge the fee?
I just wanna know more about it.
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Monthly payments depend on the card, but usually not. There may be an initial fee but if you recharge (deposit) to the card, it probably doesn’t get charged again. They’re good if you have no credit cards, since you can’t overspend or get in debt (they’re like debit cards). You’d have to check the Terms & Conditions, probably on the back of the card package, to see if they charge an ATM fee. Probably there is a fee from whatever ATM you get cash from, but maybe not from the company itself.
I think they are a good solution for people who don’t have credit cards, or for people who travel, or who want to use their card for something risky and are afraid to expose their true credit card number.
Cost – wise, they are expensive. $9 sounds like a decent price, I’m not sure what the value of the card is – some have maximums like $100, $500, $1,000. etc.
Read the terms and conditions on this very carefully however, because not all of those cards are the same. It depends on who is running the program. Some of them will charge you monthly in the form of a maintenance charge. Some of them will not let you keep a balance on the card over a certain time like a year. Some of them have fee’s each time you use the card.
They work like gift cards in that you fill it up with money at the cash register – either cash or with another card – and then after that you can add money to it whenever you want – usually by using their websites or by calling the number on the card.
The ATM fee is probably going to hit you regardless because you will always have the ATM owner ( the guy who owns that machine there ) who will hit you for his user fee, and then these gift cards will probably zap you for that too. Again it would be listed in the costs and prices in the details of the card – probably there is a chart on the back of the card package that will tell you this.