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Transferring cash to a prepaid debit card is a common practice, but it's not always straightforward. Some prepaid debit cards allow cash loading, but others may have restrictions or fees associated with it.
You can transfer cash to a prepaid debit card at various locations, such as retail stores, online, or through a mobile app. Some popular options for cash loading include Walmart, CVS, and 7-Eleven.
However, not all prepaid debit cards can be loaded with cash, so it's essential to check the card's terms and conditions before attempting to do so. Some cards may require a bank account or other specific requirements for cash loading.
In some cases, cash loading fees may apply, which can range from $2 to $5 or more, depending on the location and card issuer.
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Prepaid Card Options
Prepaid card issuers usually allow you to withdraw cash via ATM or transfer money from the card to your bank account. This can be a convenient option for sending cash to a prepaid debit card.
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You can use the designated app associated with your prepaid card to view and manage the cash on your card. The app may require you to authenticate the linkage of your bank account, which can delay the transfer process by 1 to 3 business days.
Some prepaid card products charge bank transfer fees, which vary by card issuer and transfer type. The most expensive way to send money is to process the transfer over the phone with the assistance of a customer service representative.
If you're looking for a prepaid Visa debit card, consider options like the MyVanilla Prepaid Visa Card, which doesn't charge a monthly fee and allows direct deposit of your paycheck. The Walmart MoneyCard is another option, which allows you to load cash at any Walmart store and earn cash back rewards.
Here are a few prepaid Visa debit cards to consider:
Another option for sending cash to a prepaid debit card is Remitly, which supports payments to VISA debit cards worldwide. Remitly charges no fees for domestic transfers within the United States, regardless of the transfer amount.
Transferring Cash
You can cash out your prepaid card with a third-party service, which can be a convenient option.
These services allow you to move money from your prepaid card to your bank account, making it easier to access your funds.
Remitly is a good option for this, and it's also the best service to use if you need to deposit money from your debit card.
If you're from the United States or the United Kingdom, you might want to consider Cash App, which is a cheaper option.
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Transfer Methods
You have a few options to transfer cash to a prepaid debit card, depending on your circumstances. Direct transfers aren't always available, so you may need to use a third-party app like PayPal, Venmo, or Cash App to link your prepaid Visa gift card and transfer the balance to your bank account.
Some third-party apps may charge fees or have restrictions, so be sure to check the terms before proceeding. You can also use a service like Remitly to send money to a VISA debit card, which is a convenient and relatively fee-free option.
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If you need to transfer money from your prepaid card to your bank account, you can use a third-party money transfer service like Remitly or Cash App. Remitly is a good option for domestic transfers within the United States, with fees ranging from $0.00 for transfers under $200 to $0.00 for transfers over $200.
Here are some common transfer methods and their associated fees:
Send with Remitly
Sending money with Remitly is a convenient option, especially for prepaid cards worldwide. You can sign up for free online and enter your recipient's debit card details to transfer directly to their card.
Remitly supports payments to VISA debit cards, which is why it's a great choice for prepaid cards. With Remitly, you can send money to your prepaid card quickly and easily.
The fees for domestic transfers within the United States with Remitly are actually quite low. For transfers under $200, Remitly charges $0.00 in fees, and for transfers over $200, the fee is still $0.00.
Remitly has a high rating for its trust and credibility, as well as its service and quality. It's also known for its competitive fees and exchange rates.
If you want to send money to a prepaid card, Remitly is one of the few services that allows you to make debit card deposits. This makes it a great option for prepaid cards, whether domestically or abroad.
Here are the key benefits of using Remitly to send money to a prepaid card:
- Trust & Credibility: 8.9
- Service & Quality: 9.3
- Fees & Exchange Rates: 9.6
- Customer Satisfaction: 9.3
How to Transfer Visa Gift Card Balance
You can transfer your Visa gift card balance to a bank account, but it may not be a straightforward process. It's possible to make a transfer indirectly through third-party apps like PayPal, Venmo, or Cash App.
To do this, you'll need to link your prepaid Visa gift card to one of these apps, and then transfer the balance to your own bank account. Be aware that you may be subject to fees or other restrictions imposed by the third-party app.
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Some prepaid card issuers allow you to withdraw cash via ATM or transfer money from the card to your bank account. If you use a designated app to view and manage the cash on your card, you can expect the transfer to take 1 to 3 business days.
However, you may be hit with bank transfer fees, and the charges will vary by the card issuer and transfer type. Processing the transfer over the phone with customer service can be the most expensive way to send money.
Timing and Fees
Transfers initiated directly with the card issuer can take 1-3 business days.
Many third-party money transfer services can send your money to your recipient in just a few minutes.
The speed of transfer varies depending on the method chosen.
Check for Fees
Some prepaid cards come with fees for use, including a small fee for each transaction. These fees can add up quickly.
Certain card programs impose a fee if you're transferring money to your bank account rather than using the prepaid card directly to pay for something. This fee can be several dollars.
You may be hit with bank transfer fees, although charges will vary by the card issuer and transfer type. The most expensive way to send money is to process the transfer over the phone with the assistance of a customer service representative.
It's essential to check the fees associated with your prepaid card before using it. This will help you avoid unexpected charges.
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When Will My Money Arrive?
Let's talk about when your money will arrive. Initiating transfers directly with the card issuer may take 1-3 business days.
If you're using a third-party money transfer service, you're in luck. They often use financial technology that can send your money to your recipient in just a few minutes.
Sources
- https://www.moneylion.com/learn/how-to-transfer-money-from-prepaid-card-to-bank-account/
- https://www.monito.com/en/wiki/how-to-send-money-to-prepaid-card
- https://www.truelinkfinancial.com/prepaid-card
- https://fxpal.com/guides/sending-money-to-prepaid-cards-a-step-by-step-guide/
- https://www.creditkarma.com/money/i/how-do-prepaid-visa-debit-cards-work
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