Chase Bank Visa debit card

[Tastey]

I start a new job tomorrow through Ranstad temporary agency. When we discussed pay they told me I had 3 options.

Direct deposit into a bank account
Mailed check
or

A Chase Bank Visa Debit card.

I chose the card because I closed my checking account and they charge too much for me to withdraw from my savings. My hours are 9-6 so I won't be off in time to go to a bank to cash a paper check and the mail is slow sometimes.

The really cool thing about the card

The fee is only 1.50 per month. Much less than any bank charges as a monthly fee.
The only other fees are

1.00 for ATM withdrawals
5.00 for OTC withdrawals.

BUT you get 1 of each FREE every pay period. And we are paid weekly so you get two free withdrawals a week. Using it as a Visa card for transactions is FREE.

So as long as I stay within the two a week withdrawal limit (which is easy to do) it wil only cost me 1.50 per month

No cash back bonuses like my Paypal or my Rushcard...but still good.

Anybody else heard of an employer offering this type of card?

[HulaSista]

you're the first i ever heard. very very interesting...

[ERinger]

Sounds good, but just don't lose your card, that could prove disasterous.

[bsmuvdotcom]

Yeah that is a good deal. It's the same deal on the "Rush" card offered by Russell Simmons. Basically it's like the best thing since sliced bread for people who don't or can't have a bank account but still need the saftey of direct deposite and a Visa check card. Bank of America is comming out with a new set of reloadable Visa cards earily Feb 06' that are suppose to compete with these direct debt card services.


BTW congrats on the new job!

[dejavu]

I start a new job tomorrow through Ranstad temporary agency. When we discussed pay they told me I had 3 options.

Direct deposit into a bank account
Mailed check
or

A Chase Bank Visa Debit card.

I chose the card because I closed my checking account and they charge too much for me to withdraw from my savings. My hours are 9-6 so I won't be off in time to go to a bank to cash a paper check and the mail is slow sometimes.

The really cool thing about the card

The fee is only 1.50 per month. Much less than any bank charges as a monthly fee.
The only other fees are

1.00 for ATM withdrawals
5.00 for OTC withdrawals.

BUT you get 1 of each FREE every pay period. And we are paid weekly so you get two free withdrawals a week. Using it as a Visa card for transactions is FREE.

So as long as I stay within the two a week withdrawal limit (which is easy to do) it wil only cost me 1.50 per month

No cash back bonuses like my Paypal or my Rushcard...but still good.

Anybody else heard of an employer offering this type of card?

Congratulations on the new job....my question is don't you have to activate the card? And what happens if they don't put the right amount on the card?

[seductive_tee]

Sounds like you need to get with a credit union.

[Melotic]

Congrats on your new job...

[Tastey]

Congratulations on the new job....my question is don't you have to activate the card? And what happens if they don't put the right amount on the card?

Thanks for the congrats...you too Bsmuv.

Yes you have to activate it, and it's just like if they don't put the right amount in your bank account.

The employer is liable. They are supposed to direct deposit whatever you made that week, then you get a stub in the mail.

They do tell you to check your balance BEFORE going to the store because overdrafts are $10 bucks each.

[Tastey]

Sounds like you need to get with a credit union.

I have a savings account with the credit union. They charge fees just like a bank. Their fees may be lower, but they are still there.

I can have a checking account with my credit union, I choose not to.

I see no benefit FOR ME in having a checking account.

I pay 90% of my bills online. The only thing I don't pay online is rent and lights/water and I pay that in cash to my landlord (for both). He accepts cash and writes receipts so I don't have to buy money orders.

[que90nek]

wait...

you CHOOSE not to have a checking account?

at first i was thinking that this debit card was a good idea....

IF

you couldnt get a checking account.

but a checking account...especially one attached to a savings account would be BETTER. you would get direct deposit in to that account and then you could have an atm/visa card with your checking account....

the fee for your checking account should be less than 5 dollars.....

r u sure u r choosing this......???

[Tastey]

wait...

you CHOOSE not to have a checking account?

at first i was thinking that this debit card was a good idea....

IF

you couldnt get a checking account.

but a checking account...especially one attached to a savings account would be BETTER. you would get direct deposit in to that account and then you could have an atm/visa card with your checking account....

the fee for your checking account should be less than 5 dollars.....

r u sure u r choosing this......???

*sigh*

It may be better for Que90nek but it is not better for Tastey.

Less than $5 is STILL more than $1.50.

With my Paypal card I get Cash back on every purchase, plus I earn a percentage each month on my balance.

With my Rush cards I get Monthly Cash back bonuses.

So how does paying $3.50 cents more, plus giving up cash back bonuses equate to BETTER?

Not to mention that BANK overdrafts are $35 dollars.

My Paypal doesn't charge anything for an overdraft.

Rush bank won't ALLOW an overdraft. It will just be denied.

This card charges $10 for an overdraft.

So I'm still seeing LESS paid out, MORE coming in.

The only thing a checking account has is CHECKS...that I don't need or want.

Now before you start to lecture me on overdrafts let me remind you that I have not worked full time in almost a year (will be a year Dec 20.) so each penny is NEEDED. And sometimes I may not count it exactly right.

Also the luxury of maintaining a minimum balance with a savings account flew out the window sometime around last March.

So YES. I am VERY sure that I am choosing this.

[Tastey]

Let me also add that this card is protected the same as a Visa check card for liabilities if stolen.

And also for insurance of items damaged.

[Admin]

Congratulations on the new job Tastey. Sounds like you made a good choice based on what YOU needed. Just dont loose that card girlfriend!.

Holla

[que90nek]

:beer

yahoo!!!!!!!!!!

[seductive_tee]

What kind of fees does your credit union charge?

Only fee mine charges is NSF...and i write very few checks to have anything bouncing. Of course there are the ATM fees but i go to a store and just cash back so i won't be charged.

And congrads on the new job........

[Tastey]

What kind of fees does your credit union charge?

Only fee mine charges is NSF...and i write very few checks to have anything bouncing. Of course there are the ATM fees but i go to a store and just cash back so i won't be charged.

And congrads on the new job........

They charge $8 a month to have a checking account IF your savings account balance isn under $250. If it's above it's free.

I don't write checks at all. I thought if I never wrote checks I'd never have to worry about an overdraft fee.

Wrong. My Visa check card bounced. $38 fee.

I would rather be declined and look embarassed in the store than have it go through and then I have to pay $38 dollars cus I had 6.78 cents in the bank and tried to spend 6.99

[seductive_tee]

WOW....thanks goodness for SDFCU.

I didn't even know a Visa Check card could bounce.

[Pamalicious]

WOW....thanks goodness for SDFCU.

I didn't even know a Visa Check card could bounce.

Mine they will pay it if you use the card as VISA and not Debit, but you will get charged $30 in overdraft.

I feel like my checking account keeps me established out here in the world - so I will maintain it. Especially when your credit is not that good. You need to be able to show you are doing 'business' in some form or fashion.

[mack_black]

Im just concerned about you ms. tastey being so focused on these overdraft charges...those are killer fees that could go to much better personal use.

I never use my debit card or write a check without knowing how much is on it so Ive never overdrafted...your concern with overdrafts make it seem like you overdraft on a regular....whats up with that?

I also have a form of credit to my account called overdraft protection so I could never overdraft..there's 1000.00 in the hole to prevent that sort of thing...but its never been used simply because I stay on top of my cashflow....

[Tastey]

Im just concerned about you ms. tastey being so focused on these overdraft charges...those are killer fees that could go to much better personal use.

I never use my debit card or write a check without knowing how much is on it so Ive never overdrafted...your concern with overdrafts make it seem like you overdraft on a regular....whats up with that?

I also have a form of credit to my account called overdraft protection so I could never overdraft..there's 1000.00 in the hole to prevent that sort of thing...but its never been used simply because I stay on top of my cashflow....

In order to stay on top of your cashflow Mack you have to have a cashflow.

Overdrafting ONCE was too much for me. I don't overdraft on the regular cus I don't use checks, and none of my cards allow overdraft except Paypal.

And it only overdrafted once because I spent money that had not cleared yet.

With the card if I have a payment pending the card will go through but your balance will be negative until the actual payment clears.

[mack_black]

In order to stay on top of your cashflow Mack you have to have a cashflow.

Overdrafting ONCE was too much for me. I don't overdraft on the regular cus I don't use checks, and none of my cards allow overdraft except Paypal.

And it only overdrafted once because I spent money that had not cleared yet.

With the card if I have a payment pending the card will go through but your balance will be negative until the actual payment clears.


alrighty.....:D