AccountNow has earned my #2 recommendation as a good prepaid card. AccountNow offers 2 main cards: AccountNow Visa With Direct Depost (BY FAR THE BEST OF THE TWO CARDS) and the AccountNow Visa Without Direct Deposit.
AccountNow Visa Card Review (No Direct Deposit)
AccountNow Gold Visa
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 ATMís 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 Card Review (with Direct Deposit)
AccountNow Visa (No Direct Deposit)
AccountNow Visa Card with Direct Deposit is one of the many prepaid debit cards that is available on the market. This review article will help you learn for yourself why so many people all across the country are choosing this card. However, before we move on, it is important to mention that this card is available with either direct deposit or no direct deposit. This article will review the AccountNow Visa Card with Direct Deposit. This card has been clearly been labeled as the best-prepaid card because it is simply amazing. Once you have possession of this debit card, you will never have to worry about a bank account because this card is a bank account that you can carry inside your wallet.
AccountNow Visa (Direct Deposit): Eligibility
Everyone is eligible to obtain this card simply because of the nature of the card. Prepaid debit cards work in a very precise and distinct manner, which is why they are so easily approved. The limit on the card is determined by the amount of money you deposit in your direct deposit account. There is no way to surpass that limit and when the limit is close to being surpassed, card holders can simply deposit or add more money onto the card. There is simply no level of risk associated with the AccountNow Visa Debit Card with Direct Deposit. This card requires no paperwork or long application processes. The cardholder does not have to deposit security fee, rather all he or she has to do is fill out a simple and single application form.
AccountNow Visa (Direct Deposit): Activation Fees
Moreover, there are no activation fees with this AccountNow Visa Card, which instantly saves you some money. The direct deposit is completely free, which means that processing costs are not incurred on cash withdrawals and deposits. Sure, the bank owners can argue that it is a fee for holding your money in a safe place, but the cost for this service is easily covered through all the other hidden and miscellaneous costs that are incurred on almost every other transaction. Regardless, having a free pass on withdrawals is considered a major advantage, because over time the amount can accumulate.
AccountNow Visa (Direct Deposit): Fee Review
Money orders are very common nowadays, since checks are no longer considered the safest method of making payments of large amounts. Banks also charge for this service and is actually considered one of the more expensive services. However, simply possessing the AccountNow Prepaid Visa Debit Card exempts you from this cost. You are now able to make as many money orders as you please, without ever having to worry about paying for them. Moving along, there are also no overdraft fees, since there is no minimum amount that you have to maintain on your card.
AccountNow Visa (Direct Deposit): Minimum Balance Requirement
The problem with most types of banks accounts and other debit cards is that they require the user to maintain a minimum balance at all times or near the end of the month. The actual terms and conditions vary from bank to bank. Nonetheless, whenever the account balance falls under the minimum limit, it is considered to be an overdraft, thus a penalty is imposed on the account holder. It is known as the overdraft fee, which interestingly is automatically deducted from the account. However, this problem is eliminated with this credit card.
AccountNow Visa (Direct Deposit): Benefits
One of the greatest advantages of prepaid debit cards, which interestingly is always overlooked, is that using them to pay all of your bills will help you build your personal credit. Every time you pay a bill using the card, it will be reported to the PRBC, Payment Reporting Builds Credit. The agency is commonly referred as the credit agency in the US, and keeps a record on how timely and efficiently you have made certain types of payments. The better your credit report, the easier it will be for you to obtain different financial services in the future.
AccountNow Visa (Direct Deposit): Activation Fees
Moving forward, one of the best features of any type of card is the fees that are associated it with them. The AccountNow Visa Card has no activation fee, which means that all you have to do is sign that enrolment form that was mentioned earlier in the article. The monthly fee is waived, only if the cardholder deposits a minimum of $2500. If this amount is not deposited in the account then there is fee of around $10-12 a month. The signature and PIN transactions are completely free, but there are costs for the ATM service. To check the balance inquiry it costs $1 for every transaction, and to withdraw money it will cost $2.50. Given how these two costs are, it is recommended that cash should not be withdrawn from this account.
AccountNow Visa (Direct Deposit) – Better Business Bureau Review
More interesting facts about this prepaid debit card is that it has received an extremely high rating from the Better Business Bureau, which is actually a great achievement in this industry. There are complete free money transfers from one prepaid debit card to another. For example, if your card balance is reaching the minimum amount, you will have to deposit additional funds onto the card deposit account if you want to continue using it. However, if you do not have the cash on hand to deposit it, you can simply transfer a specified amount from one card to another. This is a great feature to add to the card because you never know when such an emergency can arise.
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.
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