Category: Reloadable prepaid credit card/Reloadable prepaid debit card.
Most appropriate for:
* Direct deposit when a checking account is not available
* Substitute for a credit card
* Budgeting
The Acclaim Prepaid Visa Debit Card is offered by Secure Deposit Card, Inc. The cards are issued through Four Oaks Trust Company.
Features:
* Online Account Management
* Health Care Discount (extra cost)
* Shopping Benefits (extra cost)
* Road side assistance (extra cost)
Loading Options
* Payroll Deposits - $1.00
* Cash Loads – Bank One and Wells Fargo locations
* Bank Transfer - $1.00
* Money Orders - $6.00
* Checks - Not Accepted
Fees
* Sign-up Fee: $159.99 ($10 is loaded on the card and available to withdraw)
* Monthly Fee: $4.95 hologram card ($3.95 ATM card)
* Signature & PIN POS: $0.50
* ATM Withdrawal: $1.50
* ATM Balance Inquiry: $1.00
* Online Balance Inquiry: $0.10
* Overdraft Fee - $15.00
* Customer Service: $0.50 for automated response, $3.00 per live call
Customer Service
Customer Service is not free.
How it compares with other cards:
The Acclaim card has relatively low per transaction costs and does not charge for declined transaction. This card has a significantly higher sign-up fee compared to other similar cards. It also has higher costs for adding money to the card. Similar cards do not charge for online balance inquiries, while Acclaim does. The Acclaim card also charges both a monthly fee as well as a per transaction fee. Other cards are available that charge either a monthly fee or a per transaction fee. Acclaim also charges for customer service, unlike some similar cards. There is a load limit of $500 per load and an ATM withdrawal limit of $300/withdrawal.
Works where ever Visa® is accepted. Great for budget management. Works like a credit card, but you can spend only what you load to your account. You cannot build up costly credit card debt. Safe and great for travel expenses.
