What is a MoneyPak and how does it work? What is the purpose of byying it? The benefits and negatives.?

Question

What is a MoneyPak and how does it work? What is the purpose of byying it? The benefits and negatives.?

Answer 1

Green Dot sells a MoneyPak.  The moneypak is a way to load cash onto a prepaid card.  There are other methods to load money - Western Union and MOneyGram but they are hard to us.  Check out http://www.bankfreedom.com - they have a good explaination of the process.

As for prepaid cards, I have research this alot. Of all the prepaid debit cards out there, only Bank Freedom ( http://www/bankfreedom.com ) has a card with no activation fee. Also they are by far the lowest on total fees. They have Green Dot MoneyPak load and direct deposit, and if you use direct deposit, they waive the monthly fee. So basically, the card is near free. Check it out. Good luck.

RC

Answer 2

Like, a GreenDot one?  You buy them to put money on your card.