AccountNow Visa Card Review (No Direct Deposit)
There are a number of great options and features that you can take advantage of with the AccountNow Visa Card. This is a great prepaid debit card because it does not discriminate against anyone. It does not matter if you have a terrible credit history or if this is your first attempt to use a card for transaction purposes, because the AccountNow Visa Prepaid Debit Card has a 100% approval. This debit card has a number of great features and it is a great way to keep your expenses under control.
AccountNow Visa (No Direct Deposit) – Limits Review
Prepaid debit cards require the cardholder to deposit a specific amount of money into the account and that is the actual limit of the card. Simply meaning, the cardholders themselves assign a limit to the card, which cannot be exceeded, until and unless more money is added onto the card. Moreover, no interest is charged or any extra charges that might have been the cause of your damaged credit history in the first place. This is a wise way to ensure that you stay within your limits and control your financial situation.
AccountNow Visa (No Direct Deposit) – Limitations
Direct deposit is one feature that most prepaid debit cards have, but this particular card does not, which is why the AccountNow Visa Prepaid Debit Card is known as the no direct deposit debit card. Even though most of the other features of this prepaid debit card are the same as the one that offers the direct deposit features, not having the direct deposit feature itself can incur higher costs. However, before we move on it is important to explain exactly what direct deposit is and how it affects this debit card.
What Is Direct Deposit?
Direct deposit is a service that enables the benefits-provider, or the one who is sending you the money to deposit electronically it into your prepaid account. Employers that directly transfer the monthly salary through internet banking into your personal account mostly use this feature. This process is preferred because no transaction fee is incurred, which in itself is a major benefit. In addition to this, direct deposits simply make it much easier and hassle free to make transactions. Because when the direct deposit feature is not available, the party or parties that want to deposit money into your prepaid account will have to make physical visits to the bank and deposit either cash or checks. This will increase costs because there are particular service costs and fees that bank will charge the account holder for money being deposited and later withdrawn. This is the biggest reason as to why people with prepaid debit cards prefer to have direct deposits.
Direct deposits allow for very easy and fast transfer of money. Most transactions through direct deposit are completed on the same day. However, if checks are being deposited in the no direct deposit prepaid account, there is a significant time lag before the money is actually debited into your account and available to be spent. Then there is always the possibility of the check not being cleared. The feature of direct deposit can also affect your tax returns. For example, if your deposit limit is $5000 and you expect the tax return to be greater than the $5000 you deposited, than you would be better off not choosing a direct deposit feature because your request will be denied. This is a little complicated matter, but one that is not suitable for this discussion, therefore, if you have any additional questions on the impact on tax returns you can always ask your service provider or bank.
AccountNow Visa (No Direct Deposit) – AccountNow Fees
Moving on, the AccoutNow Visa Prepaid debit card with no direct deposit charges $0.50 for calls you make to customer service via the automated phone system. This simply means that the phone banking service is not free, whereas, with direct deposit there is no such cost. Whereas, calling a live customer service agent will cost you $1.00 if you do not have a direct deposit account, but if you do it is completely free. These features are considered important and regularly required, but having to pay for it will undoubtedly force you to think twice before using it. These services are supposed to make your card holding experience easier, but thanks to one minor feature missing total costs jump drastically. These are the two major differences in costs between a debit card with and without the direct deposit feature.
The AccountNow Visa Prepaid debit card has no initial or activation fee, which would have been a one-time payment. The monthly fee is also eliminated, only if the cardholder has deposits and maintains a balance of at least $2500. If this minimum is not maintained, the cardholder is charged $9.95 for every month the balance is below the limit. Moving along, it is completely free to make purchases using the debit card, which is why this is the card to use as frequently as possible. One of the plus points of this debit card is that it allows the cardholder access to over hundreds of thousands of ATMÃs all over the world. However, given this strong network, the card provider will charge the user for every ATM transaction.
AccountNow Visa (No Direct Deposit) – ATM Fees
Every time cash is withdrawn from the ATM, it will deduct $2.50 from the prepaid account and when the balance is checked via the ATM is will cost $1. Other services such as cash deposits, check writing are cash withdrawals are also completely free. This is the reason why so many people are opting for prepaid debit cards because it provides them so many great benefits. It is seriously a chance to keep your entire bank account inside the comforts of your wallet. The cardholder does not have to worry about paying all those annoying fees that account holders have to pay for even the smallest and simplest of business transactions. Therefore, if you want to keep you financially stable without risking the chance of high costs and debt, than prepaid debit cards are perfect for you.
AccountNow Visa (Direct Deposit): Conclusion
The AccountNow Visa Prepaid Debit Card is a great option for anyone who is planning to apply for a new prepaid debit or even credit card. There is a reason why it is received the highest possible grade from a number of different sources and continues to be one of the leading prepaid debit cards in the market. It strives on helping customers save money any way possible, by eliminating pointless bank costs, as well as keeping the consumer spending under control, two things that most other debit cards and all credit cards are not able to do.
No comments:
Post a Comment