Tax refunds via debit cards….with fees |

Unfortunately, there will be fees on these cards. Reports The Wall Street Journal:”Half the 600,000 offers from Treasury will carry a $4.95 monthly fee, while the rest will be free…. The program will be managed by Green Dot Corp., which has about 3.3 million prepaid cards across the U.S. The firm, which doesnt charge overdraft fees, earns most of its money from “interchange fees”—charges largely incurred by merchants when credit- and debit-card users make purchases.”From The Associated Press:”Cardholders wont have to pay service fees if they use the cards to withdraw money from ATMs in the MoneyPass network. All of the cards will carry a $2.50 fee for out-of-network ATM withdrawals, and a 50-cent fee for using out-of-network ATMs for balance inquiries. There may also be a fee up to $4.95 for making in-person deposits on the cards, which can be done at retailers like Wal-Mart Stores, 7-Eleven, K-Mart and major drug store chains.”

via Tax refunds via debit cards….with fees |


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