Walmart Money Card: Issuing Bank is also one of my creditors

[doni49]

I've been considering putting my UE benefits funds on a Walmart Money Card (pre-paid Visa) to deal with the possiblity that a creditor might sue, get a judgement and file a lien against my checking account.

Well I just noticed that the issuing bank for the WM Money Card is GE Money Bank. GEMB is one of my creditors (purchased a Select Comfort bed in 4/08).

So now I'm thinking that wouldn't be such a good idea.

Does anyone know of any alternatives?

https://www.walmartmoneycard.com/AcctMgmt/Content/Common/AddFunds/ACHBankAccount.aspx

To make a Bank Transfer Reload:
Go online and follow your bank’s instructions to set up an electronic funds transfer, or 'ACH Transfer'. You will need to provide the following information to transfer the money to your Walmart MoneyCard:
Bank Name: GE Money Bank
(Issuing bank for your Walmart MoneyCard)
ABA Routing Number: *********
ACH Number: Log in to see your ACH Number
Type of Account: Checking

[ValleYum]

What about the Rush Card (Russell Simmons/Baby Phat)? They use The Bancorp Bank, Wilmington, Delaware. https://www.rushcard.com/

I read an article about Russell Simmons and remember he had done this. I have no experience with the card. Maybe someone else does and can chime in!

Good luck!

[doni49]

Rush card seems to be a little on the expensive side. $10/month, 1.95/ATM withdrawal (after 1st two/month) & 1.00 for each bill payment. Ouch.

Has anyone ever used green dot cards? From what I've read, they're issued by Synovus Bank--does that bank have a parent company that I might need to worry about being one of my creditors?

Thanks again.

[Nicollette]

I've also seen advertisement about AccountNow Prepaid Visa.

[treehugger1]

Try the cap1 prepaid for cheap fees, or try bank of america cashpay card for direct deposit. These are incredibly cheap.

[doni49]

Thanks. BUt CapOne and BofA are two more of my creditors.

It's starting to look like the GreenDot card is my best option--has anyone had any bad experiences with them?

[treehugger1]

I don't know what else to tell you. I also had defaulted with both c1 and BoA. They do not seem to care about a new prepaid account. Don't let paranoia rule your life.

You might check out "accountnow.com" They have a long history.

[doni49]

Thanks. I just didn't want to take any chances by placing all my (exempt) UE benefits on a card issued by a financial institution to whom I owe a few thousand dollars. I didn't really think that was being paranoid--just careful.

From what I've read, it looks like a GreenDot card would be free for me to use (except for the initial purchase price). I have an ATM nearby that's in their network--so I can get cash for free. And I'd have my UE funds direct deposited to the card so there's no monthly fee. It also says there's no fee for using their BillPay service.

At this point, I was just hoping to find out if anyone else had any bad experiences with them before I signed up for one.

[fishfun]

Have you checked into the PayPal debit card? Does anyone know the risk of using this card?

[chicagoannie]

In IL we can get our unemployment benefits put on a debit card distributed by the IL Dept of Employment Security. This is not an option in MO?

[doni49]

Have you checked into the PayPal debit card? Does anyone know the risk of using this card?

They don't seem to allow direct deposit (they want you to transfer money from a checking account) and don't do the Bill Payment thing (most of my billers don't do ACH--they need a check mailed to them).

[doni49]

In IL we can get our unemployment benefits put on a debit card distributed by the IL Dept of Employment Security. This is not an option in MO?

My UE benefits come from NJ--I lived in PA and worked across the river in NJ. I lived at the same address and worked at the same place for nearly 14 years. So all my UE benefits will continue to come from NJ.

I've been on the NJ UE site many times and haven't seen any option for a debit card.

EDIT: I just looked again and it looks like they started a debit card program in late October. I'll check that out.

EDIT2: GRRR. Their debit card is also issued by BofA. Although there's no way they could legitimately say they didn't know the debit card had nothing but exempted funds (UE benefits), I still think there's a possibility they might make a mistake (do something intentionally and claim it's a mistake). Plus they don't have a bill pay option.

[Bell30656]

Look into http://www.skylight.net that's who I used when I couldn't get a bank account due to Chex System issues.

[jacko]

You can use the green dot card to load cash into a PayPal Master Card debit card.

Have you checked into the PayPal debit card? Does anyone know the risk of using this card?

[shark66]

AFAIK to have a PayPal debit card, one must has a checking account linked to their PP account...

Also, bear in mind that PayPal will be less and less safe to use come next year, since they'll start reporting a ton of stuff to IRS and some of it will leak one way or another...

My $0.02 only...