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The READYdebit Visa Latte Control Prepaid Card Is A Flexible Banking Option

May 15, 2015 by CreditCardsCo™

The READYdebit Visa Latte Control Prepaid Card is the alternative to a bank. You can use the card just like a regular debit card, but you can load the money in a number of different ways without having to deal with a bank, monthly fees, bounced checks, and some of the hassles that exist with bank accounts.

The READYdebit Visa Latte Control Prepaid Card is unique in that it serves as a replacement for your typical bank account. While the cardholder is holding a card that behaves like the debit card connected to a traditional bank account, there is nothing to worry about in regards to bounced checks. Issued by Bancorp Bank, bouncing checks is not possible with this card. This is because it is impossible to spend money that is not there. That means no returned check fees, which can keep you from getting to a place that is difficult to recover from financially.

If you do wish to pay bills with checks, there is a free bill pay service that you can take advantage of. However, because the card has the Visa logo on it, you can pay your bills with your card online, over the telephone, or in person. There is a lot of flexibility that is given by a prepaid card that possesses the Visa logo.

Application Process

The application process is simple when applying for this card. It starts with an online application that asks for basic information and has you choose which card you want. You can choose the Latte card, which is brown, or the mint card, which is green. Individual taste is what will dictate which one you choose. Once you read the cardholder agreement and agree to the terms, you will move forward with the application process. In order to be able to get the card, you have to be a U.S. resident and at least 18 years of age. As long as these requirements are met, the card is easy to sign up for. You will know at the end of the application process whether or not you will be receiving the card.

Card Features

There is a wide range of card features. The first is the fact that there is no monthly fee. The second is the free direct deposit. When you opt for direct deposit, you can take advantage of the free ScoreTracker that is powered by Credit Karma. All you have to do is give your employer the direct deposit information that comes with your card and direct deposit can begin on your next payday.

If you do not opt for direct deposit, you can have your card reloaded at any of over 60,000 retail locations that sell GreenDot MoneyPaks and Visa ReadyLink services. This makes adding money to the card very simple so that you do not have to worry about how you are going to put cash on it when not dealing with a local bank. Every retailer offering reload services serves as your own personal teller. No matter where you are, you can find a location to load your card.

If you wish to pay bills with your card and you do not wish to pay them online or over the phone, you can pay them through the easy online bill pay service. This service sends checks to the places where your bills need to be paid. You simply specify where they are going for how much and to what account number.

If you and a friend or family member both have READYdebit Visa cards, then you can transfer money between the two accounts instantly at no cost. You are limited to the number of transfers you can do and the dollar amount that you can transfer, but this is a way to easily lend money to another person without having to leave the computer.

Factor in the fact that there are no credit or ChexSystems checks to worry about, no overdraft fees, and no chance of ever bouncing checks and you have an affordable bank account alternative. It is easy to manage, can be used domestically or internationally, and places your money in a place where it can be safe.

International Travel

When you travel internationally, you can use the card anywhere Visa is accepted. This means that there are tens of thousands of locations around the world where you can safely spend your money. However, it should be noted that foreign purchases and ATM transactions do have a per transaction fee that is either a set amount or a percentage of the transaction amount after it is converted to U.S. currency.

Nonetheless, carrying your card is safer than carrying cash. If you are the type of individual who likes to spread your money among several cards so that you still have spending power in case one is lost, then this card is a good one to house your money on. If your card is lost or stolen at any point, you can report it gone within two days and it is possible that your financial liability could be nothing. If fraudulent transactions were made and the transactions were PIN transactions, then the liability could be around $50. Not reporting the card lost or stolen could report in higher losses. Nonetheless, Bancorp Bank works with its cardholders to limit liability when the card is fraudulently used after the cardholder has displayed responsible use. The old card will be disabled so that a new one with the remaining balance can be issued. In order to report cards lost or stolen or to receive answers to questions, customer service is available 24/7. You can also manage your account online through online account management.

Final Thought

The READYdebit Visa Latte Control Prepaid Card has everything that you would want in a bank account, but it doesn't have the fees. What it does have is the security, affordability, and the ability to load money onto it through direct deposit or any time you want to through retailers in your area.

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