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Treat Your MoneyPak Number Just Like Cash

By DJ Willis Subscribe to RSS | May 1st 2012 | Views:
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One big advantage of utilizing moneypak is to make same day payments. Although most accounts today have online bill payment, those payments are usually not effective prior to the next business day. In other words, if today is the due date, there's no way to pay the vendor in time with a traditional bank's bill payment service.

However, those who take advantage of this card can produce a payment on the same day, and it will credit the same day too. This really is one of the few ways where consumers can make a same day payment without incurring a late charge. This convenience alone can save consumers lots of money in terms of late fees for bills not paid in time.

Many people are now afraid of credit. With the moneypak card, there is no credit involved when obtaining a card. Credit rating is simply not a factor whatsoever. Even people with bankruptcy can get this debit card. All that is needed is the money and a few form of identification. As this is not credit, it's not possible to spend any more than the balance in the account. That's the reason this type of payment (debit card) is really popular today.

Because this is not a credit card, many rental car agencies won't accept a card such as this for renting a car. The debit card is not a wise decision when it comes to holds that may last indefinitely. That is something which consumers have to be wary of.

Among the options available to moneypak card would be to deposit extra money with direct deposit. This is a good method to build money without needing to worry about bank fees. These deposits are easily provided with debit cards. Go to an ATM and withdraw.

The disadvantage of reloading cash is that there's often a cost to do this. That's the reason it is generally not recommended to reload unless it's for a large amount. However, consumers need to look to see if there are any waivers available with reloading fees. In many cases, a direct deposit of a sufficient amount is essential to get the fees waived.

Although debit cards like the moneypak isn't as good with regards to security and theft, it's a lot better than carrying cash around. If cash is lost, it's lost forever; the same thing isn't true when a debit card is used.

With a debit card, you'll be able to call the issuer to get the debit card frozen before all the money is spent or withdrawn. Something that has been spent or withdrawn is lost forever. However, it is not necessary to regain possession of the credit card in order to preserve what is left in the account. That's the reason using a debit card will be a lot better than just relying on cash with regards to theft.

DJ Willis - About Author:
Weston is very comfortable with giving a greendot moneypak. He has been in the business going on 10 years now. Using prepaid debit cards software can provide you with some insight regarding how to work certain situations.

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