Issuer: First Bank & Trust
Headquarters:Brookings, South Dakota
Parent Company: Fishback Financial Corporation
Website: First Bank & Trust
FDIC Status: First Bank & Trust (FDIC Cert: 3973) is FDIC Insured. First Bank & Trust has been FDIC insured since January 1, 1934. It was established on November 2, 1925.
Check First Bank & Trust’s FDIC Status
Overview of First Bank & Trust (and their parent, Fishback Financial Corporation)
First Bank & Trust is a bank owned by Fishback Financial Corporation (FFC). FFC is one of South Dakota’s largest privately held financial holding companies with five subsidiary banks and assets totaling nearly $1.6 billion. The present First Bank & Trust celebrated its opening on November 2, 1925. Security National Bank, as it was then known, opened its doors during an extremely difficult time for business in South Dakota. Three Brookings banks had failed and a fourth bank failure was imminent. The local paper reported, “The new bank starts off with the brightest of prospects for a splendid business career, with the confidence of the entire community and the realization that it is filling a real need in Brookings.”
First Bank & Trust is the issuer for a number of prepaid debit card programs, including the affinity debit cards from Tempo, and the Revolution Money cards (although this may change now that Revolution Money has been acquired by American Express).
PayPower™ Visa® Prepaid Card
PayPower is a Visa prepaid debit card that you load and reload with cash and use for everyday purchases, giving you total control over your money. Purchase the card for $3.95 plus the load amount, then transfer the funds to the card by calling the toll free number on the back of the card, or by visiting www.paypower.com.
O2USA Prepaid MasterCard
The O2USA Mastercard prepaid debit card is made to function like a checking account for millions of consumers worldwide that don’t have a traditional banking relationship. The O2USA card also puts the purchasing power of MasterCard in your pocket, not to mention Zero Liability fraud protection as well as FDIC account insurance. There is no credit or background check, so O2USA guarantees you will be approved (see website for details).
Bank Freedom MasterCard Prepaid Expense Card
The Bank Freedom MasterCard Prepaid Expense Card helps you manage, control, and track employee spending in real-time. Small busineses and even larger businesses can use the Expense Card to manage and control employee spending. There’s no credit check so you don’t worry if your business has bad credit or no credit history. Since it’s prepaid, you never have to worry about excessive employee spending, overspending your budget, overdraft fees or over-the-limit fees.
Virtual Debit Gift Card
Want to give someone (or yourself) a gift card, but don’t want to wait for the card to be shipped to them? Here’s what you do — get a virtual gift card. Read More
NetSpend MasterCard Prepaid Card (Premier Fee Advantage Version – with Direct Deposit)
NetSpend is considered one of the country’s largest and fastest-growing Prepaid Debit Card processors and marketers. It’s no surprise that the NetSpend Prepaid MasterCard is a top-of-the-line network-branded card recognized by thousands of merchants worldwide. NetSpend currently offers the MasterCard in three versions: a Pay as You Go plan, a Fee Advantage plan, and their Premier Fee Advantage plan (reviewed here), which requires direct deposit.
What is a Tax Refund Card?
A tax refund card is a prepaid debit card that is used to receive your tax refund by direct deposit. Tax refund cards are “prepaid debit cards”. Almost any prepaid debit card can be used to receive your tax refund. Some prepaid debit cards are issued especially for use (at least initially) as a tax refund card.
A prepaid debit card is a payment card that can be loaded with money (such as a tax refund deposit) by you or by someone else.
A prepaid card looks just like a normal credit or debit card, and has a card number, a signature strip on the back, and the logo of a card association (such as Visa®, MasterCard® or Discover®). Prepaid cards that are used as tax refund cards also are embossed with your name on the face of the card.
Prepaid debit cards are not credit cards, which provide you with a line of credit. Instead, prepaid debit cards only let you withdraw or access the money you have deposited (or “loaded”) onto the card. (Which is why some people refer to these types of cards as “pay before” use cards instead of credit cards which are “pay after” use products).
With prepaid cards, you can only spend the money you have loaded on the card. Which is why they are perfectly suited for use as tax refund cards – you can’t overdraw your account, and you can only spend as much money as you have deposited into your account.
Once you load funds onto your prepaid card, you can use it to make purchases (online or offline) and withdraw cash at ATMs, just like a normal bank debit card.
Some prepaid cards also allow you to pay bills using a bill pay system associated with your card.
Continue Reading the Tax Refund Card Guide Online
–>Part 2: What is a Tax Refund Card?
Part 4: How to Get a Tax Refund Card.
Part 5: How to Use a Tax Refund Card.
Part 8: Tax Refund Card FAQ.
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