Would someone explain how a Greendot Reloadable Prepaid Visa works? Cost, fees, method of operation, etc?

Question

What are the benefits or pros & cons over & above using a checking account?

Up to how much can a person reload into their prepaid card & is it protected by the bank that has set up that particular card or whatever?

Answer 1

From what I've seen from my employees:

Each time you make a reload, they charge $4.95

There is also a $5.00 (approx) monthly fee that will be charged.

There is an option to have a direct deposit from your payroll from your employer---which doesn't charge the $4.95 reload fee.

You can use this card pretty much everywhere the Visa card is accepted...offline and online.

Those fees are "high" in my opinion for reloads, especially if you are having to reload several times per month.

If there is a way, go the direct deposit route which will save you money in the long run.

Unfortunately, there is no way to avoid the monthly fees.

Easily and quickly reloaded at the Service Desk or any register at WalMart--avoidng most hassles. (other than the reload fee).

Your permanent card will arrive within 2 weeks of opening your account at WalMart.  In the meantime, WalMart will issue a temporary card at the point of sale.

They also have a website where your transactions and balances can be viewed.

I don't know the answers to your last questions, but there are brochures at the Service Desk (next time you're in WalMart)---just grab one...most of your questions will be answered.