Four Oaks Bank and Trust issues a prepaid credit card with a real difference: The Homeland Prepaid Visa Debit Card. The Homeland card is packaged with what the issuers call an “Executive Benefits Package" that each customer receives free of charge when he or she signs up for the card. The Executive Benefits Package is basically a membership that provides preferred members (the card holder) several ways to save on normal purchases, health care and even roadside assistance costs, which makes it comparable to many interest bearing gold credit cards!
The Homeland Prepaid Visa Debit card is more flexible than many cards in respect to the many various ways in which the card can be loaded. They allow all funds load methods allowed by law: Direct deposit from an employer (with no limit as to the amount that may be loaded to the card), funds from another credit or debit card, ACH transfers, transfers from bank checking or savings accounts, and postal service money orders can also be used to add funds to the card. Some load methods will be posted to the card immediately, while others may take between one and five business days to post.
Normal debit card charges apply with this debit card. A fifty cent charge is deducted each time the card is used to make purchases. A one dollar charge is assessed each time the card is loaded with additional funds. Some load limits do apply to this card. No limit is placed on the amount that an employer can direct deposit to the card, but there is a minimum of twenty five dollars and a maximum of five hundred dollars that can be loaded from a bank account.
Also, this card can not be loaded more than ten times a week (or twice in any day) and never for more than one thousand five hundred dollars in a single day or five thousand dollars weekly. It functions the same way as a regular debit card when making ATM withdrawals or getting merchant “cash back" funds. There is a three hundred dollar limit per day for cash withdrawals. A fifty dollar limit per merchant cash back transaction is also imposed. Each ATM withdrawal carries a one dollar fifty cent fee.
Recurring and Non-Recurring Fees
When you apply for this card, you will be charged a single application fee and processing fee, which is typical of most prepaid credit cards. There is a one time processing fee of $90.00 and a one time application fee of $59.95, which is non-refundable. There is a minimum of ten dollars that must be loaded when the card is purchased. It costs $159.95 to establish the card membership. These charges are debited from the card owners bank account. A monthly fee of $8.90 is deducted from the card each month. For many consumers, this type of card makes a great deal of sense.
Would you like to know more about Prepaid Credit Cards? Why not take a look at http://hubpages.com/hub/Prepaid-Credit-Cards-101-What-You-Need-To-Know - Prepaid Credit Cards - What You Need To Know. You'll have all the facts at your fingertips.