Do you want your card purchases to be simpler, more secure, and more convenient? If that’s the case, you need this prepaid card. In this MyVanilla Prepaid Visa Card review, I’ll list all the details and information you need to see if it is the right card for you.
The MyVanilla Prepaid Visa Card is a secure, convenient, and simple way you can manage your finances. You can use this prepaid card anywhere Visa is accepted. It will give you flexibility in spending because you can conveniently access your account and keep it safe at the same time.
With this prepaid card, money management will be straightforward. It will help you track your expenses, your spending, and many more. You can even withdraw funds from this prepaid card through ATMs across the country.
Read on to learn more about the MyVanilla Prepaid Visa Card, its features and benefits, how to use it, its pros and cons, and if it will satisfy your needs.
About the MyVanilla Prepaid Visa Card
Offers Spending Flexibility
If you want spending flexibility, you need the MyVanilla Prepaid Visa Card. It is a reloadable card that is simple to use and secure at the same time. This prepaid card is a convenient way you can manage your money. It is accepted wherever Visa cards are accepted in the United States.
Makes Money Management Simple
This card will make your money management very simple. It will help you monitor your expenses and keep track of your spending, among many other things. You can use it in any merchant store, business, restaurant, and any Visa accredited place within the United States.
You can also withdraw cash from this card, even several thousand dollars on ATMs across the country. But you will be charged $1.95 for every Domestic ATM cash withdrawal. You can withdraw cash using the MoneyPass Network ATMs.
Prepaid Card And Not a Credit or Debit Card
This is a prepaid card. Not a debit or credit card. So, you don’t need to fill out paper forms or undergo credit checks to get one. If you notice that you only use your credit card for occasional purchases, then this card is what you need.
You don’t even need to have a bank account to get it. You can also add or deposit funds into this prepaid card easily using the VanillaDirect Load or the Direct Deposit.
Issuer Allows You to Get Two or More MyVanilla Prepaid Cards
The issuer of this card also allows you to get two or more MyVanilla prepaid cards. In that way, you can transfer funds safely between your MyVanilla prepaid card accounts. To add more security to your transactions, you can set text alerts so you will get timely updates on your transactions and balances.
Available All Over the United States
This prepaid card is available all over the United States, except in Vermont. The company that issues this card is the Bancorp Bank, as per the license given to it by Visa U.S.A. This card is serviced and distributed by InComm Financial Services, Inc., licensed by the New York State Dept. of Financial Services as a Money Transmitter.
Key Features and Benefits of the MyVanilla Prepaid Visa Card
If you look at the key features of the MyVanilla Prepaid Visa Card, you will see how you can use it to manage your money efficiently. Here are some of the essential features of this prepaid card that are beneficial to its holders:
1. ATM Access
Not only will you be able to use it as a prepaid card, but you can also use your MyVanilla prepaid card to withdraw cash from ATMs across the country. You can even avoid paying the surcharge fee each time you withdraw your funds using the MoneyPass Network ATMs. So, if you ever need cash fast, use your MyVanilla prepaid card.
2. Higher Card Limits
The MyVanilla Prepaid Visa Card offers higher card limits compared to other prepaid cards. For instance, its Daily Spending Limit is $5,000. Other prepaid cards only allow $3,000. The other limits of MyVanilla are also higher across the board.
3. No Charge Direct Deposit
This prepaid card comes with all the standard features of regular prepaid cards. But one thing that makes it different from the others is that it offers no-charge direct deposit. This is also a way to get your paycheck faster.
This prepaid card allows you to load your payroll automatically, as well as your tax returns or government benefits. You enjoy the advantage of not queuing to get your pay every payday. You will not be charged with anything when you cash checks as well. So, you can save time and get your money faster.
This feature allows you to add funds directly to your MyVanilla prepaid card. It is a straightforward and fast way to add cash to your prepaid card. The VanillaDirectLoad is available at thousands of locations across the U.S. There should be one outlet nearest to your place.
5. Mobile Wallet
If you add Mobile Wallet to your MyVanilla prepaid card, you will be able to pay for all your bills and purchases using only your tablet, smartphone, or even your smartwatch.
Using this feature in your purchases in online stores, apps, and brick-and-mortar stores will make your transactions even more secure. This is a convenient, easy, and safe way to buy things and pay for them.
6. Walmart Rapid Reload
This is another easy way of reloading your MyVanilla prepaid card. You can add funds to your prepaid card at any participating Walmart stores nationwide. Just swipe your card at the register, load the amount you want, and off you go.
7. Mobile App
There is a MyVanilla mobile app that you can download and use for free. This is a good money management system on the go. With this app, you will be able to check your card balance, search for reloading locations, view your transactions, and so forth. This app gives you convenient access to your account with just a flick of the finger.
Again, what does the MyVanilla Prepaid Visa Card offer? The MyVanilla Prepaid Visa Card is secure and convenient. In fact, you can use it to manage your finances. You can also use it anywhere Visa is accepted. So, this card also offers you flexibility in spending while keeping your money safe.
Fees of the MyVanilla Prepaid Visa Card
To use the MyVanilla Prepaid Visa Card, you will be asked to pay certain fees. The amount will depend on the kind of transaction you are undertaking. Here are some of the most common fees associated with the use of this prepaid card:
- Activation Fee – Zero
- Monthly Fee – Zero. Take note that the average monthly fee of most prepaid cards is $5.
- Direct Deposit Fee – Zero
- Cash Reload Fee – Zero
- Signature Purchase Fee – $0.50. Other prepaid cards also charge this fee for every purchase.
- ATM Fee (in Network) – $1.95
- ATM Fee (out of Network) – $1.95
- Pin Purchase Fee – $0.50
- Dormancy Fee – $3.95. This fee applies if you allow your account to lay dormant during the previous 90 days. That means, there is no transaction whatsoever that occurred in your prepaid credit card.
- Cancellation Fee – $9.95. This fee is charged to process the return of your card balance.
Limits Related With the Use of the MyVanilla Prepaid Visa Card
You also need to understand certain limits about the use of the MyVanilla Prepaid Visa Card. This prepaid card has the following limits:
- Card Limit – $10,000. This amount is comparable or even higher than the limits of other prepaid cards,
- Daily ATM Limit – $2,000. Take note that the average limit of other prepaid cards is only $750.
- Daily Spending Limit – $5,000. Compared to other prepaid cards that give only an average of $3,000, the limit of MyVanilla prepaid card is obviously higher.
- Daily Cash Load – $2.500.
Requirements of the MyVanilla Prepaid Visa Card
Any U.S. citizen can get or buy a MyVanilla Prepaid Visa Card, just as long as they satisfy the following requirements:
- Must be 18 years old or older
- Yoiu must be willing to undergo ID verification
- Must provide their SS number or other valid forms of ID
- Credit Check is not required since this is a prepaid card, not a credit or debit card.
When Can You Use the MyVanilla Prepaid Visa Card
There are many ways you can use your MyVanilla Prepaid Visa Card:
1. Use the Card Anywhere Visa Cards Are Accepted
You can use the MyVanilla Prepaid Visa Card anywhere Visa cards are accepted. Purchases online, over the phone, at retail stores, or through mail orders are all valid ways of using this card.
2. Withdraw Cash Using This Prepaid Card
You can withdraw cash using this prepaid card. There are millions of ATMs around the country where you can do this. You can even avoid paying the surcharge fee if you will withdraw cash from MoneyPass Network ATMs.
3. Use It to Pay for Gas
You can use it to pay for gas at the pump. But take note that some gas stations may put a $75 hold on your card. But this is only temporary and will be reflected to your account once the transaction is cleared.
4. Use It to Pay Meals at Restaurants
You can use it to pay for your meals at restaurants or personal service at salons. Again, be aware that the merchant can put a 20% pre-authorization fee on your account. But again, this will be restored to your account once your transaction is finalized.
How to Use MyVanilla Prepaid Visa Card
- When using this prepaid card to pay for your purchases, present this card when you are paying,
- Select ‘credit’ or ‘debit’ to sign the receipt and then provide your PIN, and
- By using your prepaid card, the amount of the item you bought will be deducted from your account balance, including the tip added and sales tax.
How to Add Funds to a MyVanilla Prepaid Visa Card
The easiest and fastest way to add funds to your MyVanilla Prepaid Visa Card is by Direct Deposit:
- Accomplish the direct deposit form. It usually comes with your card,
- Give it to your benefits provider or employer. This form is also available on the card’s website. Just log into your account, and you can get it there.
Pros and Cons
To complete my review, I will give you some of the notable pros and cons related to the use of the MyVanilla Prepaid Visa Card:
- Higher Card Limits
- Lower purchase fees
- Mobile check deposit
- ATM fees if you don’t use a MoneyPass Network ATM
- Transactions are charged with their specific fees
Conclusion: MyVanilla Prepaid Visa Card
The MyVanilla Prepaid Visa Card is a convenient, simple, and secure way to manage your money. You can use it anywhere Visa is accepted. It will provide you spending flexibility because, with this card, you can easily access your account and keep it safe at the same time.
If you use your credit card only for occasional spending, this card can be a great option. It works like a standard prepaid card but with unique features and benefits. It is certainly worth considering.