In today’s video, we’re going to review the citi prepaid card. The citi prepaid card is used by employers to issue payroll check instead of issuing papers, in this way, the organizations can reduce costs, and employees’ paycheck will be directly deposited to their citi prepaid cards.
It is reported that it gives you faster and easier access to your money, Citi bank works with the following types of organizations, government benefits, payroll and pension payments, workers compensation, emergency relief and higher education payments. If you are suffering from the expense of check cashing fees, this will eliminate that expense from your life, because Citi bank prepaid card is accepted for purchases.
You can use your citi prepaid card online, over the phone and wherever Visa debit cards are accepted. The only drawback of the Citibank prepaid card is that you cannot use it to purchase gasoline at the pump, you will have to first prepay or go in the store and pay for your gasoline fees for the city prepaid card, $1.50 for domestic ATM withdrawal fee, $3.50 for international ATM fee, $3 account maintenance fee, $15 over the limit fee and there are a few other miscellaneous fees.
This is a prepaid card, so you will have to first deposit money on your account. Before you can use your card for purchases, you’re provided two methods to load or deposit money on your city prepaid card.
The first is through direct deposit, however, you cannot deposit money directly from your personal bank account. The second way is to transfer funds using the ACH system, you will be charged $1.50 to use this. It will typically take two to three business days before your account is credited, you have access to any ATM with the Visa logo on it.
However, there is also a one dollar and fifty cent charge to use ATM. You can use a city surcharge free ATM, these are typically located at Citi Bank branch locations, money paths locations, pub lix grocery stores and 7-eleven stores. There is a three-thousand dollar spending limit within a 72 hour period.
However, you can contact the Citi bank customer service team and request an adjustment. If your spending requirements are larger, this prepaid card will give you 24/7 online account access, it appears that this is a good card offer. However, we urge you to read all the fine print before you apply for the citi prepaid card.
It would be nice of Citi bank to publish some additional information regarding their prepaid payroll debit card. We want you to avoid discovering fees buried in the fine print of this prepaid card application, this card will help prevent you from going into debt.
However, unlike other prepaid credit cards with no fees, you can be charged for an over-the-limit fee of $15, you will not build credit using the citi prepaid card, this is because Citi bank is not lending you money, therefore they have no information to report to the three major credit bureaus about your credit behavior. It appears that this prepaid card is primarily used by government agencies to issue payroll payments, you may want to consider some other prepaid card options before choosing the American Express. Prepaid debit card is one of the best on the market, the prepaid industry has exploded and there are many choices with very friendly customer fee structures.