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Subject:  Re: Income Tax Returns Go Prepaid Visa Debit Car Date:  1/13/2011  6:54 PM
Author:  joelcorley Number:  111928 of 127987


I wrote, There is no statement about the fees associated with accessing your income tax refund.

Which isn't quite true. There was a statement, The prepaid card is free for all customers, and the monthly service fee will range from being free to $4.95. All cards will offer unlimited free ATM withdrawals at 15,000 in-network ATMs, while a $2.50 service fee and a 50-cent balance inquiry charge will be incurred for using out-of-network ATMs.

Online bill pay, balance inquiries and direct deposit are all free. But holders pay $4.95 to replace a lost or stolen card, $2.50 to withdraw cash from a teller, $4.95 to get a second card and as much as $4.95 to add money in-person at a retail location.

The implication here is that it will cost you $2.50 to get your refund converted to cash if you actually do have a bank account and didn't give the information to the IRS for a direct deposit...

Of course it doesn't say what tellers will let you withdraw the cash. In my experience (and I do have experience with this), my banks (plural) won't accept prepaid debit cards and will not / cannot withdraw funds from them. In that case, you may have to pay $4.95 unless you happen to have an issuing bank branch nearby.

Do you have an issuing branch bank nearby? Probably not unless you're in Utah. The issuing bank is Bonneville Bank.

BTW, the debit card provider is Green Dot, which issues the Walmart MoneyCard. Here's Wal-Mart's agreement w/the fee schedule:
Here's a review of Green Dot cards:

I've heard some pretty disparaging things about Green Dot; but I can't vouch for them...

- Joel
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