Friday, December 27

Tag: debit cards

How to Load Your Walmart MoneyCard | Banking Advice
27Oct By adminNo Comments
Money

How to Load Your Walmart MoneyCard | Banking Advice

The Walmart MoneyCard is a reloadable prepaid card that allows those without traditional checking accounts to spend and manage their money. It's available as Visa or Mastercard, making it easy to use just about anywhere. The MoneyCard also awards cash back on certain purchases.So how do you load funds onto a Walmart MoneyCard? There are a few ways to do it. Here's what you need to know.What Is the Walmart MoneyCard?The Walmart MoneyCard is a prepaid debit card issued by Walmart in partnership with Green Dot, a banking and financial technology company. It's designed to offer an alternative to a traditional checking account.Since it's a prepaid card, you need to load money onto the card before you can use it. Once funded, the card can be used for online shopping and in-store purchases where...
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Fed Floats Deep Cuts to Debit-Card Swipe Fees
26Oct By adminNo Comments
Money

Fed Floats Deep Cuts to Debit-Card Swipe Fees

Updated Oct. 25, 2023 2:26 pm ETWASHINGTON—The Federal Reserve proposed lowering by about 30% the fees merchants pay to many banks when consumers shop with debit cards, setting off a fight with banks that oppose the changes. At present, merchants pay large card issuers such as JPMorgan Chase and Bank of America 21 cents plus 0.05% of the transaction amount, which is the level set by the Fed in 2011. The Fed can lower the cap if it determines the costs for processing debit-card payments are declining, but it had never previously done so.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Fed to Float Deep Cuts to Debit-Card Swipe Fees
25Oct By adminNo Comments
World

Fed to Float Deep Cuts to Debit-Card Swipe Fees

Oct. 25, 2023 12:40 pm ETWASHINGTON—The Federal Reserve is set to propose lowering by about 30% the fees merchants pay to many banks when consumers shop with debit cards, setting off a fight with banks that oppose the changes. At present, merchants pay large card issuers such as JPMorgan Chase and Bank of America 21 cents plus 0.05% of the transaction amount, which is the level set by the Fed in 2011. The Fed can lower the cap if it determines the costs for processing debit-card payments are declining, but it has never previously done so.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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What Is Netspend?
13Sep By adminNo Comments
Money

What Is Netspend?

Some consumers are not able to open a checking account at a bank or credit union to pay their bills or purchase groceries or other items and are forced to rely on using prepaid debit cards. In 2021, there were more than 5.9 million unbanked households in the U.S., according to the Federal Deposit Insurance Corp.One option is to use a reloadable prepaid debit card issued by Netspend, which gives consumers the ability to conduct transactions just like a bank debit card and could be a better option than using a check cashing service.A Netspend prepaid card can serve as a bank account alternative for some consumers, including ones who had trouble managing bank accounts in the past, perhaps incurring many overdrafts, says Ted Rossman, senior industry analyst at Bankrate.com."Banks share this i...
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Use Your Phone at the ATM Instead of a Card
12Sep By adminNo Comments
Money

Use Your Phone at the ATM Instead of a Card

Consumers have been able to withdraw cash from ATMs without using their debit cards for several years, a convenient option, especially if they don't have a card with them.If you have your smartphone with you, then leaving your card or wallet behind is no longer an issue. At some ATMs, you just need your phone to get cash for purchases or tips. Dan Rosenbaum has been using his Apple Watch to receive cash for more than a year at Chase ATMs because it is more convenient."I don't have to fumble in my wallet for the card or take out my wallet on the street at all to work the door buzzer," says the New York-based freelance writer. Even though Wells Fargo requires consumers to tap the withdrawal amount on the ATM, Tim Maliyil, CEO of Las Vegas-based cybersecurity services firm AlertBoot, prefers...
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RBI issues draft circular on issuance of debit, credit, prepaid cards
5Jul By adminNo Comments
Business

RBI issues draft circular on issuance of debit, credit, prepaid cards

The Reserve Bank of India (RBI) has issued a draft circular addressing the arrangements between card networks and card issuers when it comes to the issuance of debit, credit, and prepaid cards. The circular aims to enhance customer choice and ensure a competitive market for card networks. As things stand, card networks collaborate with banks and non-banking institutions for the issuance of debit, credit, and prepaid cards. When a card is issued to a customer, the choice of the affiliated network is determined by the card issuer. This selection is based on the previous arrangements established between the card issuer and the card networks through bilateral agreements. After a review of this system, the RBI has acknowledged that the existing arrangements between card ne...
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