The Facecard prepaid MasterCard is a debit card, which means that in order to use it to make purchases, you must first deposit money on the card.
You must deposit a minimum of $10 to load your card, and the maximum balance is $2,500. You may load money at no charge through bank transfers and with the ach network. There are other methods available as well, but in order to use those, you must pay a fee.
This card is frequently used by parents to help teach financial responsibility to a child. Parents can access all of their childs account information.
There is free activation and no monthly fees. There is a $1.50 ATM fee from Facecard plus the banks ATM fee. There is a maximum of $200 a day that can be withdrawn from the ATM.
There are limits for how many times you can load money: twice per day, four times per week and 10 times per month. We only offer a mild recommendation for this card, because it doesnt provide many benefits other than the ability to monitor your childs spending.
Additionally this card can be used internationally; however I wouldn’t count on it in a financial emergency. This is because you can only withdraw $200 a day at the ATM.
Issued by Meta Bank, the card is a MasterCard and therefore is accepted everywhere you see the MasterCard logo.
One unique benefit of the card is that you will still be approved if you go to a restaurant and are short on money. You will also be approved for an additional 20% so that you may leave a tip.
Facecard can afford to charge no monthly fees because they market offers to your cell phone. In other words, from time to time they will send you a text message explaining that you can save 10% at a specific retailer for a limited time.
In sum the Facecard does have some advantages, however because of their low ATM withdraw maximum of only $200 a day we suggest you have an additional card.
It is not uncommon for people to experience sudden, unforeseen financial difficulties, and $200 is seldom enough to cover these emergencies. If you have a child in college, for example, $200 is not enough to pay for textbooks.
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