AccountNow Prepaid Visa - Explained

The AccountNow Visa is pre paid which means you must first deposit money in your account. In order to do this, you take your card and cash to a participating location, such as gas station, Kmart, Green Dot, Money Gram... These stores will sometimes charge you a nominal fee.

You can also add money by Direct Deposit. This service is free, and can save you a large amount of money in check cashing fees every year. A prepaid card has some nice features: Firstly, It allows you to pay bills online - rather than messing about with costly money orders or cash. You can also buy products, both online and in person, from anywhere that accepts visa debit cards. In terms of accessing your money, simply withdraw it from any of the one million plus ATM's worldwide, or request 'cash back' at the grocery store.

Additionally it allows you to build up your credit history. By enrolling in the 'Credit Builder' plan, you can demonstrate your worthiness to future creditors, such as landlords. There is no charge to enroll in this optional service.

These cards are ideal for those who have struggled to manage their finances in the past, as you can only spend what you have in your account. This is recommended for people with past financial mistakes, as well as younger people who are looking for their first card - as it encourages responsible financial habits.

The Classic Plan costs $4.95 per month, and there are various other charges depending on the type of service you require. Withdrawing money from a cash machine costs $4.95, and purchases within the US (when using your PIN) costs $1 per transaction. Card purchases when using your signature (within the US), direct deposits and managing your account online all occur no additional fees.

For an additional $5 per month you can upgrade to the Premium Plan, which gives you additional benefits, such as removing the $1 fee for purchases when using your PIN.

It is free to sign up, and no credit check is carried out when you apply, but there are certain stipulations you need to meet in order to be approved. You should be at least 14 years old, and you will need to provide personal details such as your name, e-mail address, phone number and social security number. And be compliant to the US Patriot Act. This just says you are who you claim to be.

Applications can be made online or over the phone. Subject to identification confirmation you are given a guaranteed approval, and you will receive your card through the mail within a few days.

For more about the Prepaid AccountNow Gold Visa or to learn more about prepaid debit cards visit us.