I received a prepaid Visa gift card over the holidays and would really prefer the cash.
Community Answers
7
1-21-11
admin says:
There are three ways to get cash from a prepaid debit card (Visa, MasterCard, Discover and American Express) and terms and fees differ among cards. The most obvious method is an ATM. Most prepaid cards offer ATM Withdrawal, some charge a transaction fee and some don’t. ATM Withdrawal Fees typically range from $0 to $2.50 per transaction. International ATM Withdrawal Fees are typically much higher, usually up to double. For those people that visit ATM’s frequently, a set monthly charge might be better. Some institutions offering FREE ATM Withdrawals are: MYPLASH, MioCard, Green Dot, Cornerstone Bancard, CARA MoneyCard, Jackson Hewitt, JumpCard, RushCard and the Vision Platinum Card. There also might be daily withdrawal amount restrictions in the range from $100 to over $1000 per day. Another method of getting cash from your prepaid card is a Cash Advance at a bank teller window. Some prepaid card lenders prohibit this method, but most allow it and usually charge a fee that is typically a little higher than an ATM Withdrawal Fee. The last way to get money from your prepaid card is to request Cash Back from a retailer when purchasing an item. Many prepaid card providers encourage this as a way to avoid ATM Fees, although there are some that will charge for the service. Also, be aware of and Point Of Sale (POS) Signature or PIN Fees that might apply. The charging of these fees vary widely from card to card, but when applied are typically in the $1 to $2 range. Once again, always read the Terms and Conditions and Fee Schedules of your prepaid debit card to see what is right for you.
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There are three ways to get cash from a prepaid debit card (Visa, MasterCard, Discover and American Express) and terms and fees differ among cards. The most obvious method is an ATM. Most prepaid cards offer ATM Withdrawal, some charge a transaction fee and some don’t. ATM Withdrawal Fees typically range from $0 to $2.50 per transaction. International ATM Withdrawal Fees are typically much higher, usually up to double. For those people that visit ATM’s frequently, a set monthly charge might be better. Some institutions offering FREE ATM Withdrawals are: MYPLASH, MioCard, Green Dot, Cornerstone Bancard, CARA MoneyCard, Jackson Hewitt, JumpCard, RushCard and the Vision Platinum Card. There also might be daily withdrawal amount restrictions in the range from $100 to over $1000 per day. Another method of getting cash from your prepaid card is a Cash Advance at a bank teller window. Some prepaid card lenders prohibit this method, but most allow it and usually charge a fee that is typically a little higher than an ATM Withdrawal Fee. The last way to get money from your prepaid card is to request Cash Back from a retailer when purchasing an item. Many prepaid card providers encourage this as a way to avoid ATM Fees, although there are some that will charge for the service. Also, be aware of and Point Of Sale (POS) Signature or PIN Fees that might apply. The charging of these fees vary widely from card to card, but when applied are typically in the $1 to $2 range. Once again, always read the Terms and Conditions and Fee Schedules of your prepaid debit card to see what is right for you.
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