READYdebit Prepaid Debit Visa (“Select” Plan with Direct Deposit)

How We Rated This Card

Card Features Fees Disclosure Clarity BBB Rating Load Options Overall Rating

Rating Explanation The "select" plan option of the READYdebit card has a number of great features and provides a very good value for people who use the card as a bank account replacement. The company behind the READYdebit card (Ready Financial Group, Inc.) has an excellent BBB rating, and has great experience in running and building prepaid card programs. We like the simple fee agreement and disclosures with this card, and the number of features available make it a great bank-replacement product. This card is perfect if you use bill pay frequently, as there are no fees for using the direct deposit (you save $4/ month over the non-direct deposit version). Check this card out, we think you'll like it. It stacks up nicely among the top prepaid debit cards.

Card Fee Examples

Want to know how much this card might cost you to use in a typical month? We have crunched the numbers for you! We also show how this card stacks 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	READYdebit Visa "Select" Plan with Direct Deposit	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 READYdebit Visa "Select" Plan with Direct Deposit*

Activation Fee:	$9.95	Card Limit:	$10,000
Monthly Fee:	$8.95	ATM Withdrawal:**	$2.25
Signature Transactions:***	$0	ATM Balance Inquiry:	$0.00
PIN Transactions:***	$0.00	Bill Payments:	$0.00

The ReadyDebit Select card is perfect for people who use the card frequently to purchase items on the Internet or in stores (there are no transaction fees). If you have low monthly usage needs (and only do several ATM and purchase transactions, and have no need for bill pay), consider the Basic plan. If you want to use bill pay, the Select card with direct deposit is perfect -- unlimited bill pay transactions are free. As with other bank accounts and prepaid cards, there are additional fees for certain non-typical transactions (like international ATM withdrawals, paper statements, etc). Check the fee sheets for more information.

Notes:
* Fees verified as of 02/03/2010. 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 card in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.

Card Options

The ReadyDebit card comes in two fee options: Basic and Select. The Basic is more of a "pay as you go" card with higher transaction costs, while the "Select" requires a slightly higher monthly fee, but has lower transaction costs.

The READYdebit card comes in a number of different colors

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

Many prepaid cards, including the READYdebit Prepaid Visa Cards, have fees that can be avoided with careful use. Here are a few tips to minimize your monthly fees and costs associated with this card.

• First reduce the number of ATM withdrawals you make. If you need $200 of cash for the week, take that whole amount in one withdrawal from the ATM (assuming you have enough funds in the account!). Don't withdraw $20 or $40 at a time (the fees add up FAST).
• Save paper. Don't order paper copies of your account statements. The READYDebit prepaid Visa (like many prepaid issuers) charge you extra to receive statements by mail. Why not save a tree and save yourself some money?
• Treat your card like a checkbook. Don't try to take money out when you don't have it (you won't get an overdraft charge, but you could get a "decline" transaction at an ATM).
• Avoid the need for special fees, like stop payments on bill pay transactions, or special customer service.
• ALWAYs use direct deposit (it's good for the planet since it reduces paper, it's good for you, and it's good for your bank account).

Tips for Using The READYdebit Prepaid Debit Visa (“Select” Plan with Direct Deposit)

• Using a Prepaid Visa Card — A Few Tips
• Can I Get a Secondary Card on a Prepaid Debit Card Account?
• Loading Funds on your Prepaid Card Using the Visa ReadyLink Network
• How to Refill Visa Prepaid Cards
• How to set up Direct Deposit on a READYDebit Prepaid Visa Card