Should i list a prepaid debit card?

[dasherkin]

i have a prepaid debit card sometimes i get for when i need to make credit card purchases, i should i list that as one of my bank accounts? there is no money on there now

[ccsjoe]

No, a prepaid debit card is an instrument, not a bank account.

[backtoschool]

The money on a prepaid debit card is a cash asset however and must be exempted.

[ccsjoe]

The money on a prepaid debit card is a cash asset however and must be exempted.

Correct, thanks for adding, I left that out!!

[discouraged]

Where do you buy one? That's the one thing I worry about - losing my debit card when I file. Or do you lose it?

[ccsjoe]

Where do you buy one? That's the one thing I worry about - losing my debit card when I file. Or do you lose it?

No, you do not lose your debit card when you file. Some banks, most notorious being Wells Fargo, and some credit unions will freeze your deposit accounts until they get a letter from the trustee releasing them. Most banks, however, do not do this. Your debit card is only tied to your deposit accounts. If you have an overdraft line of credit tied to the debit card, the line will most likely be closed. This, again, will not affect your deposit accounts and your debit card.

If you still want to buy a prepaid debit card, I believe WalMart sells them, amongst other places.

[discouraged]

Thanks Joe, I've actually been afraid to say this but when I transferred banks I went to Wells Fargo because I had an account with them that I only deposited refund checks from send-ins. So now am a bit worried. Since I am delinquent on my old bank LOC could I go to another bank or would that show up when I applied for an account. Wish I hadn't done WF but my lawyer told me to get another account quickly and since that one was open I just took the money from my CU and put it there. Haven't filed BL yet - plan to give my lawyer the money next week.

[ccsjoe]

I would go to another bank or CU and try. If it shows up on Chexsystems I would inquire about "fresh start" accounts. Most banks and CU's offer this. Consider a fresh start account the same as a beginner's cc..for people with previous problems, so to speak. But get out of WF!!! Or empty your WF funds and make sure nothing goes into the account there after filing.

[discouraged]

Thanks. I will do that.

[backtoschool]

You do not lose your debit card if you exempt the cash on it. You can get one at Walmart. AAA Travel services also has them. You can refill them online.

[warren49]

There are several different prepaid debit cards you can get. Just about any convenience store offers them (WalGreens, CVC, WalMart, etc.). They all have a VISA or Mastercard logo, so they can used like a credit card. Most will waive service charges if you do direct deposit of funds. However, the downside is there is normally a fee for a straight ATM withdrawal. You can get around that by getting extra cash when purchasing with it as a debit card. I think they are very handy. You can also do bill paying online with them. They will send checks in the mail to people or businesses that do not accept credit or debit cards for payment (usually no charge for this service).

[IBroke]

I have the Wal-Mart Visa Student-Edition (one account with 2 cards) and it works great!

[drowning123]

Check-cashing places definitely sell them. Also, why not open a new checking account, discouraged? That's what I did, just to make sure, as I did have an overdraft account with my bank.