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FormulaTA · Posted: Wed Oct 31, 2007 8:33 pm Subject: Western Union prepaid Visa

I mentioned this in another thred, but i didn't want to hijack that persons thread any further. My question is. You can have your paycheck deposited on this prepaid mastercard. Do you think this would be safe from the pdl sharks? I'm afraid to open a new bank account right now because i keep hearing about pdl sharks tracking down new account numbers and debiting them. Wonder if they could do the same thing with the Mastercard?

Posted: Wed Oct 31, 2007 8:35 pm Subject:

LOL! I was just looking it up-

Western Union® Prepaid MasterCard®

Easy to Get, Easy to Use

The power of cash. The convenience of plastic. Efficiently manage your money and pay bills because you control how much you put on the Card.

Experience the benefits

Carry your money safely and conveniently.

Shop online anywhere MasterCard debit cards are accepted.

Check your Card balance anytime online or over the phone.

Reload your Card at any participating Western Union Agent location in the United States.

Direct Deposit your pay check onto your Card and pay NO Monthly Account Maintenance Fee. That's a savings of $4.95 per month.

FormulaTA · Posted: Wed Oct 31, 2007 9:13 pm Subject:

Yea, it sounds better than keeping all my cash in a coffee can. I used to use this card as a regular pre-paid MC. It worked great, never had any problems. It was easy to load also.

Posted: Wed Oct 31, 2007 9:15 pm Subject: reply

So, when paying bills with a Western Union Mastercard, they can't do squat with the information. Correct? Or can someone get ahold of your card number and take advantage of it? Or is that not possible because it has that three digit security number on the back? Do I make any sense here? It's late and my brain is getting fried. And you can have your paycheck direct deposited on that card? Huh. Volley, what do you think? You're a "bank" person. Do you hate it when I always ask you the "bank" questions? Laughing

FormulaTA · Posted: Wed Oct 31, 2007 10:15 pm Subject:

As far as I know, it works exactly like a regular Mastercard. And yes, it did have that 3 digit number on the back. And yes, you can have you paycheck direct deposited on the card. It did have a $2,500.00 max limit on it however. But, in my case, not a problem. I can't even remember the last time I had over 2 grand in the bank. thats about all I know, maybe Volley can check into it some more.

Posted: Thu Nov 01, 2007 4:57 am Subject:

Hey guys....went to bed a bit early last night. The beauty with credit cards is that added layer of security, the ccv code on the back and yes, they would absolutely need your whole card number and the ccv code to get into your $$.

Yep, you can have your paycheck direct deposited right onto the card and then pay your bills!!

Posted: Thu Nov 01, 2007 5:26 am Subject:

Hello All, I am using the western union prepaid card and it's great. The fee is waived if you have your paycheck directly deposited on to it. Good Luck!

Posted: Thu Nov 01, 2007 5:26 am Subject:

One more thing, you can withdraw money from an ATM machine too!

Posted: Thu Nov 01, 2007 5:32 am Subject:

Gina, that is exactly the question I was going to ask. Thanks for the info.

Posted: Thu Nov 01, 2007 5:36 am Subject:

I have a prepaid visa and so far so good!

Posted: Thu Nov 01, 2007 7:40 am Subject:

gina that is great feedback about the fee being waived with DD!

Posted: Thu Nov 01, 2007 8:18 am Subject:

My boyfriend has one of these cards too, I think it's called greendot or something. He gets his paycheck deposited on it, and he likes it enough. The only problem being that there are limits to how much you can withdraw per day (and it's pretty low, something like $300), and so they get you with the fees as well. But it's better than nothing. He can't have a bank account right now, so this is his best bet.

Jukeboxluv-guest · Posted: Thu Nov 01, 2007 3:46 pm Subject:

I second that motion! Prepaid is the way to go. PDL companies can not dig in to it. If it is stolen there's (0)Zero liability. FCK the banks charging NSF fees, and overdrafts. I got a prepaid card that let you know when you may cause an overdraft, I will get a text message, or info at the ATM. Now tell me how many banks do that?? I'll tell you,,,.... NONE!
I also got fee bill pay on-line with this PP debit card, hah!

Posted: Thu Nov 01, 2007 4:23 pm Subject:

One thought. If paychecks can be direct deposited onto a credit card, don't they need a routing number or something to do this? Do you think PDL lenders can somehow dig up this info and charge our cards just like a bank account? Also, do you think pre-paid cards have the same "zero liability" protection that "regular" cards have?

Posted: Thu Nov 01, 2007 4:26 pm Subject:

The pdl would need the full card# and the ccv code.

The terms and conditions are posted on the website, but I do recall seeing some dispute resolution policies.

Posted: Thu Nov 01, 2007 4:31 pm Subject:

One more thought. If we decide to do this everyone needs to be very careful which pre-paid card you choose. I've used several over the years and some, if not most are not reliable. They often get declined by merchants for no reason whatsoever. And some have tons of "hidden fees" that jump up and get ya when you least expect it. And I had one that took like 7 buisness days to credit your card after you reloan it.

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