The Readydebit card is a prepaid debit card this means that you must load money onto the card in order to use it You can do this via direct deposit Visa ReadyLink and Green Dot MoneyPaks You can also transfer money directly from your checking or savings account
You must deposit money on the card in order for you to access the funds The amount of money which has been transferred to the card minus purchases fees and other transactions equals the amount available to be used for transactions
This is a nice benefit of prepaid cards because then you are not spending more than you really want to Unlike credit card companies which encourage you to borrow money and pay interest and other fees on the borrowed money
It is only good for the amount which you have loaded They offer two plans the Basic and the Select There is a one-time $995 card issuance fee with both plans
There will be a monthly service charge of $495 with the Basic plan and $895 with the Select plan For a $10 you can request a second card with the Select plan however this amenity is not offered with the Basic
You may also request a replacement card for a $10 fee PIN transactions will incur a $95 charge with the Basic but are free with the Select
Also ATM withdrawals in the United States will cost a $225 fee while ATM withdrawals outside of the United States will cost a $5 fee Balance inquiries within the United States will incur a $50 charge with the Basic but are free with the Select
In addition there are many free services with both plans such as signature transactions negative balance fee direct deposit online customer service and automated phone support You may not transact purchases or otherwise decrease the amount of the card by more than the balance of the card
Also the maximum amount you may withdraw from ATM machines each day is $500 A $2500 per day spending limit is placed on the card
Electronic statements are available online Paper statements are available however there is a $2 feeper statement for this service
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