Just got credited for my ACH to Serve from GoBank. 5 business days just as expected.
They were able to tell me a couple of days in advance when it would be credited.
Showing posts with label chex victims. Show all posts
Showing posts with label chex victims. Show all posts
Monday, February 24, 2014
Saturday, February 22, 2014
American Express Serve
I have read horror stories all over the web for the Amex Serve card though not as severe as their BlueBird card.
I'll be able to weigh in on that personally over the next week as I will start using the card on Monday the 24th.
From my last post you'd know I lost my GoBank card - I've been very happy with GoBank but its a minimum 2 weeks to send out another card - so I ACH's the funds to Serve last Monday. Monday though was a Banking holiday President's Day so the money won't show up till this Monday. If I had used my head I would have made the transaction via the GoBank debit card before I reported it lost. Then the transfer would have been instant I believe.
So I called Serve customer service and the rep who spoke pretty good English checked and said the money will post Monday.
A list of things you shouldn't do with Serve
1 - Do not use someone else's debit or credit card - even your husband, wife, parents, child etc to put money into the account. The name on the card must match the account name exactly.
2 - Do not use the remote check deposit feature (on any prepaid account) because it's highly possible that the funds will be held for much longer than you wish. Cash the check at Walmart for $3 - it's safe and quick.
3 - Do not use the card at a gas pump. Pull cash out for gas or buy gas gift cards. If you use it at the pump there will be a hold placed on the card.
4 - Sub Accounts are just asking for trouble.
5 - DO NOT CALL customer service unless you feel an absolute need to. I probably shouldn't have called myself about the ACH. Calling them invites some type of change to be made or a misunderstanding.
I'll be able to weigh in on that personally over the next week as I will start using the card on Monday the 24th.
From my last post you'd know I lost my GoBank card - I've been very happy with GoBank but its a minimum 2 weeks to send out another card - so I ACH's the funds to Serve last Monday. Monday though was a Banking holiday President's Day so the money won't show up till this Monday. If I had used my head I would have made the transaction via the GoBank debit card before I reported it lost. Then the transfer would have been instant I believe.
So I called Serve customer service and the rep who spoke pretty good English checked and said the money will post Monday.
A list of things you shouldn't do with Serve
1 - Do not use someone else's debit or credit card - even your husband, wife, parents, child etc to put money into the account. The name on the card must match the account name exactly.
2 - Do not use the remote check deposit feature (on any prepaid account) because it's highly possible that the funds will be held for much longer than you wish. Cash the check at Walmart for $3 - it's safe and quick.
3 - Do not use the card at a gas pump. Pull cash out for gas or buy gas gift cards. If you use it at the pump there will be a hold placed on the card.
4 - Sub Accounts are just asking for trouble.
5 - DO NOT CALL customer service unless you feel an absolute need to. I probably shouldn't have called myself about the ACH. Calling them invites some type of change to be made or a misunderstanding.
PNC SmartAccess Card
Great card if you are within their branch area.
Free cash deposits at any branch or PNC DepositEasy ATMs. Withdraw your money for free at over 7,300 PNC ATMs. Out of the area? Use VisaReadylink at any 7-Eleven.
$5 a month fee and virtually everything else fee free. You can walk into a branch and cash a check drawn on PNC for free.
Thursday, February 20, 2014
Lost or Stolen Card
What do you do if you lose or have your card stolen?
I recently lost my GoBank card. At that point I should have used the debit card number to move my funds to Serve at no cost and instantly. Serve allows loading via debit card.
However I reported the card lost first which severely limits your options since the card number is no good. It's 2 weeks or more for a replacement card. That's a long time to go without your money.
Checking to see if an expedited card replacement is an option is something you should do with an account that is really on the card with no physical presence anywhere.
There is no option to expedite shipping of a new card with GoBank.
You will have to move your direct deposit or cancel it right away.
I set up ACH transfer between Serve and GoBank and requested my balance be moved. The funds were taken from GoBank on the 18th and still sit as 'processing' with Serve now 2 days later.
I recently lost my GoBank card. At that point I should have used the debit card number to move my funds to Serve at no cost and instantly. Serve allows loading via debit card.
However I reported the card lost first which severely limits your options since the card number is no good. It's 2 weeks or more for a replacement card. That's a long time to go without your money.
Checking to see if an expedited card replacement is an option is something you should do with an account that is really on the card with no physical presence anywhere.
There is no option to expedite shipping of a new card with GoBank.
You will have to move your direct deposit or cancel it right away.
I set up ACH transfer between Serve and GoBank and requested my balance be moved. The funds were taken from GoBank on the 18th and still sit as 'processing' with Serve now 2 days later.
Wednesday, January 29, 2014
GoBank Free Cash Deposit Locations and Limits
Deposit cash for free
Take your GoBank debit card and cash to any participating Walmart, 7-Eleven or Kmart (not available in WY or VT). Swipe your card or hand it to the cashier, and the cash will be deposited into your account automagically.
Walmart allows between $20 (minimum) and $1,100 (maximum) per transaction.
7-Eleven and Kmart allows between $20 (minimum) and $500 (maximum) per transaction.
The maximum you can deposit in one day is $2,500.
Keep a look-out here for new cash deposit locations, which we'll be adding soon!
Take your GoBank debit card and cash to any participating Walmart, 7-Eleven or Kmart (not available in WY or VT). Swipe your card or hand it to the cashier, and the cash will be deposited into your account automagically.
Walmart allows between $20 (minimum) and $1,100 (maximum) per transaction.
7-Eleven and Kmart allows between $20 (minimum) and $500 (maximum) per transaction.
The maximum you can deposit in one day is $2,500.
Keep a look-out here for new cash deposit locations, which we'll be adding soon!
Tuesday, January 28, 2014
Surprise, Banks are Against the Post Office Entering Prepaid
According to American Baker the USPS proposal to enter the prepaid card market has set off a firestorm of criticism from Banks.
Remember if Banks are against it it's likely to be a good thing for you.
http://www.americanbanker.com/issues/179_18/post-office-offering-loans-is-worst-idea-since-the-edsel-banks-1065231-1.html
Bankers and their representatives harshly criticized a call for the U.S. Postal Service to offer financial products like prepaid cards, remittances and even small consumer loans to underbanked consumers, saying it was a dangerous and foolhardy idea.
As envisioned by the white paper, customers would be able to borrow up to half of their gross pay in a given pay cycle. For each paycheck, they'd be required to make installment payments equal to 5% of their gross pay until the loan was paid off.
The average repayment term would be five and a half months. A consumer who borrowed $375 would pay a total of $48 in interest and fees, equal to an effective annual interest rate of 28%.
Borrowers would put their paychecks onto USPS prepaid cards, often via direct deposit, which would allow the Postal Service to automatically withhold repayments before loading the balance of the paycheck onto the prepaid card.
The Postal Service might be able to secure a major leg up over private-sector lenders with respect to securing repayment from delinquent borrowers. Working with the Treasury Department, the USPS might deduct the amount owed from the borrower's tax refund, the paper states.
Remember if Banks are against it it's likely to be a good thing for you.
http://www.americanbanker.com/issues/179_18/post-office-offering-loans-is-worst-idea-since-the-edsel-banks-1065231-1.html
Bankers and their representatives harshly criticized a call for the U.S. Postal Service to offer financial products like prepaid cards, remittances and even small consumer loans to underbanked consumers, saying it was a dangerous and foolhardy idea.
As envisioned by the white paper, customers would be able to borrow up to half of their gross pay in a given pay cycle. For each paycheck, they'd be required to make installment payments equal to 5% of their gross pay until the loan was paid off.
The average repayment term would be five and a half months. A consumer who borrowed $375 would pay a total of $48 in interest and fees, equal to an effective annual interest rate of 28%.
Borrowers would put their paychecks onto USPS prepaid cards, often via direct deposit, which would allow the Postal Service to automatically withhold repayments before loading the balance of the paycheck onto the prepaid card.
The Postal Service might be able to secure a major leg up over private-sector lenders with respect to securing repayment from delinquent borrowers. Working with the Treasury Department, the USPS might deduct the amount owed from the borrower's tax refund, the paper states.
Monday, January 27, 2014
US Postal Service Entering Prepaid?
Foreign Postal services have offered prepaid services for year. It appears that the USPS will be entering here as well.
http://www.uspsoig.gov/sites/default/files/document-library-files/2014/rarc-wp-14-007.pdf
http://www.uspsoig.gov/sites/default/files/document-library-files/2014/rarc-wp-14-007.pdf
Sunday, January 26, 2014
T-Mobile 'Mobile Money' Prepaid
If you use T-Mobile this is a home run. Free cash deposits at T-Mobile stores. Free ATMs, free billpay, a mobile app of course, free remote check deposit (this does have some fees) free customer service with I wager English speaking customer service.
Reload fees for cash deposits of more than $300 using a Reloadit card are refunded. Reloads also available through Visa Readylink and Moneygram but those fees are not refunded.
With 40+ million customers many of whom use prepaid services this should quickly become a top option.
It looks like T-Mobile has contracted this out to Blackhawk Networks which is owned by Safeway. Remote Check deposit will be through IngoMoney formerly Chexar. Reloadit packs are from Blackhawk and that cost, $3.95, will be refunded if you use them to load cash over $300.
This will be just like a PayPower card (Blackhawk) without fees if you are a T-Mobile customer.
https://t-mobilemoneyservices.com/NeedHelp/Fees
Here is the Android app which has already been downloaded by many customers.
https://play.google.com/store/apps/details?id=com.blackhawknetwork.tmobile.mobilemoney&hl=en
Walgreens Balance Financial Goes Nationwide
'If' you use Walgreens this may be a good card for you. Reloads now available at 8,000 Walgreen and Duane Reed locations.
https://balancefinancial.walgreens.com
https://balancefinancial.walgreens.com
Amex Serve Customer Service
I have read that Serve is using the same customer service as Bluebird.
English as a third language they cannot understand a word you are saying.
You may as well throw your money out the window as deposit it on Serve if this is the case.
They are reading from a script. They repeat themselves endlessly. At some point you may think they understand why you are calling and then from right field they will start to ask you how can they help you. It’s like an endless loop.
My advice – order a card and deposit a small amount of money on it. Try calling customer service to ask them a simple question and see if you feel comfortable having them in charge of your finances.
English as a third language they cannot understand a word you are saying.
You may as well throw your money out the window as deposit it on Serve if this is the case.
They are reading from a script. They repeat themselves endlessly. At some point you may think they understand why you are calling and then from right field they will start to ask you how can they help you. It’s like an endless loop.
My advice – order a card and deposit a small amount of money on it. Try calling customer service to ask them a simple question and see if you feel comfortable having them in charge of your finances.
Subscribe to:
Posts (Atom)