MasterCard MoneySend Prepaid Card

How We Rated the MoneySend Prepaid MasterCard

Card Features Fees Disclosure Clarity BBB Rating Load Options Overall Rating

Rating Explanation MoneySend Prepaid MasterCard 4 GetDebit.com Editor The MasterCard MoneySend Prepaid Debit Card is great for people who need to send and receive money using their mobile phones. It is not a bank account replacement card, as there is no bill pay or other features bank replacers need. However, if you are looking for a card backed by a great company and want to cheaply and easily send money to friends or family, consider this card. The MasterCard MoneySend Prepaid Debit Card is great for people who need to send and receive money using their mobile phones. It is not a bank account replacement card, as there is no bill pay or other features bank replacers need. However, if you are looking for a card backed by a great company and want to cheaply and easily send money to friends or family, consider this card.

MoneySend Prepaid MasterCard Fee Examples

Want to know how much the MoneySend Prepaid MasterCard might cost you to use in a typical month? We have crunched the numbers for you! We also show how MoneySend Prepaid MasterCardstacks up against some common alternatives so you can see if you would save money using this card. Please remember -- cost should NOT be the only reason why you pick a card -- make sure to consider the card's features (some cards have more features than a typical bank account).

To see different scenarios, change the following variables.

	Number of transactions each month	MoneySend Prepaid MasterCard	Bank of America "Regular" Checking	Check Cashing Store
Monthly Fee	Once per month	$	$	$
Cash paycheck (per month)	$	$	$	$*
ATM Withdrawals	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Bill Payments	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Online Purchases	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
In-Store Purchases***	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
Overdrafts:****	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20		$	$
Total		$	$	$

Note: * Based on a U.S. Average check cashing rate of 4.54% (per the Brookings Institution),
**Using the Money Order fees from the U.S. Post Office (Some of the lowest available),
*** We assume that 1/2 of your in-store purchases will be made using your PIN,
****A LARGE portion of Americans experience at least 1 overdraft each Month. Also note that the Check Casher CANNOT buy items online, and must use cash for all purchases.

Fees Associated With The MoneySend Prepaid MasterCard*

Activation Fee:	$0.00	Card Limit:	$2500
Monthly Fee:	$1.95	ATM Withdrawal:**	$1.95
Signature Transactions:***	$0.00	ATM Balance Inquiry:	$0.95
PIN Transactions:***	$0.00	Bill Payments:	$N/A

The MasterCard MoneySend Prepaid Debit card is primarily used to allow you to send and receive money using the MoneySend mobile money transfer system. You won't use this card as a bank account replacement (but you can use it to make purchases and to withdraw funds from ATMs). It's mainly used as a "buffer" or funding account to let you send and receive funds via your cell phone. The only fee "gotchas" are if you request a paper statement (but why would you?) and if you try to close your account and have any remaining funds mailed to you as a paper check. (Instead, when you close your account, just electronically transfer the funds to your bank account).

Notes:
* Fees verified as of 02/16/2010. Check the Current Terms & Conditions for a list of all the fees.
** Some ATM operators may charge a fee for use of their ATMs in addition to this fee.
*** To use your MoneySend Prepaid MasterCard in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.

MoneySend Prepaid MasterCard Card Options

Not many options with this card. The main choice you have is whether to take a Virtual MasterCard instead of the physical card (you can save a few fees by doing so, but you'll give up some options, like the ability to withdraw funds from ATMs).

Here are GetDebit’s “Low Fee Tips” for this Card

The MasterCard MoneySend Prepaid Debit card is primarily used to allow you to send and receive money using the MoneySend mobile money transfer system. You won't use this card as a bank account replacement (but you can use it to make purchases and to withdraw funds from ATMs). It's mainly used as a "buffer" or funding account to let you send and receive funds via your cell phone. The only fee "gotchas" are if you request a paper statement (but why would you?) and if you try to close your account and have any remaining funds mailed to you as a paper check. (Instead, when you close your account, just electronically transfer the funds to your bank account). Also, make sure to watch out for ATM withdrawal fees adding up (take your money out in chunks, not in dribs and drabs, and consider using a fee free ATM if possible).

Tips for Using The MasterCard MoneySend Prepaid Card

• Loading Funds On Your Prepaid Card with MasterCard’s rePower Network
• Why Do I Need to Provide a Social Security Number to Get a Prepaid Debit Card?
• Lost or Stolen MasterCard? Here’s What to Do
• Can I Get a Secondary Card on a Prepaid Debit Card Account?
• How to Dispute a Debit Card Charge