Virtual MasterCard MoneySend Prepaid Debit Card

How We Rated the Virtual MasterCard MoneySend Card

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Rating Explanation Virtual MasterCard MoneySend Card 4 GetDebit.com Editor The Virtual prepaid MasterCard MoneySend card is for a specific purpose -- using MoneySend to send and receive funds. Don't choose this card if you need a bank account replacement card. However, if you are looking for an inexpensive way to send and receive funds via your mobile phone, you may want to seriously consider this virtual card. Paired with MoneySend, it allows you to quickly, easily, and inexpensively send and receive funds. The Virtual prepaid MasterCard MoneySend card is for a specific purpose -- using MoneySend to send and receive funds. Don't choose this card if you need a bank account replacement card. However, if you are looking for an inexpensive way to send and receive funds via your mobile phone, you may want to seriously consider this virtual card. Paired with MoneySend, it allows you to quickly, easily, and inexpensively send and receive funds.

Virtual MasterCard MoneySend Card Fee Examples

Want to know how much the Virtual MasterCard MoneySend Card might cost you to use in a typical month? We have crunched the numbers for you! We also show how Virtual MasterCard MoneySend Cardstacks 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	Virtual MasterCard MoneySend Card	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 Virtual MasterCard MoneySend Card*

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

The Virtual prepaid MasterCard that is used with MoneySend has very few fees.

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 Virtual MasterCard MoneySend 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.

Virtual MasterCard MoneySend Card Card Options

The Virtual MasterCard MoneySend card has one option -- you can choose to get a physical card issued to you (so you can use the card to make purchases at stores and so you can access funds at ATMs). Check out our review of the MasterCard MoneySend prepaid debit card for more information. Choose the virtual card if you just want to be able to send and receive money (and link the account to an existing bank account or credit card). Choose the physical prepaid card if you want to be able to withdraw funds at an ATM or make purchases in stores.

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

The Virtual 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 online). 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).

Tips for Using The Virtual MasterCard MoneySend Prepaid Debit Card

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