Post by sandi66 on Apr 1, 2011 12:32:52 GMT -5
About MyAccountCard
MyAccountCard Visa® Prepaid Debit Card, issued by Bonneville Bank, is a new card being piloted by the U.S. Department of the Treasury to improve tax administration and to give individuals an opportunity to receive their federal tax refund faster and take advantage of a safe, low-cost card they can use every day in place of checks and cash. My AccountCard holds the potential to streamline the tax administration process and provides money-saving conveniences and consumer protection features for taxpayers who lack access to traditional banking services.
MyAccountCard is available only to people who have received an offer letter from Treasury. More than just a refund card, MyAccountCard can be used to:
1.Get cash: Use MyAccountCard for free withdrawals at more than 15,000 ATMs nationwide or by asking for “cash back” during check-out at retail locations. A $2.50 service fee, plus any fee the ATM owner may charge, applies to all out-of-network ATM withdrawals.
2.Make purchases: Shop in stores, online or by phone – anywhere Visa® debit is accepted.
3.Pay bills: With MyAccountCard you no longer need to purchase money orders or pay for postage because you can pay your bills for free online.
4.Add money: Adding money to your MyAccountCard account is easy – choose one of three options:
1.Electronically deposit your tax refund to your card and receive it faster than a paper check.
2.Add your wages or other income for free by signing up for direct deposit.
3.Add cash in-person for a fee up to $4.95 at more than 50,000 retail locations, including Walmart®, Walgreens®, CVS®, 7-Eleven®, K-Mart® and Rite Aid®.
4.Transfer money directly from your bank, credit union or other financial institution for free (your financial institution may apply transfer fees).
Card Safety
MyAccountCard is designed to be safe and secure:
•Federal law protects funds if the card is lost or stolen, unlike cash. Certain limitations and a $4.95 lost/stolen fee applies to obtain a replacement card, see Cardholder Agreement in your offer from Treasury for more details.
•Visa® Zero Liability policy protects cardholders against any unauthorized transactions, when promptly reported. Visa® Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa®, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.visa.com/security.
•Bank issued; FDIC insurance applies. Bonneville Bank, member of FDIC.
•PIN-based secure access – only you control your MyAccountCard.
Card Fees
As part of the initial phase of the MyAccountCard program, Treasury is making the MyAccountCard available only to those who have received letters from Treasury.
Complete information about fees is provided to everyone who receives the card offer in the mail. Treasury is randomly offering several different variations of the MyAccountCard to evaluate which product features, fee structures and marketing messages generate the greatest positive response from taxpayers. The results of the pilot will allow Treasury to then evaluate the benefits and feasibility of offering a card account as an integrated part of the tax filing and refund process. For a list of standard fees, see below.
Additional Benefits
When you sign up for MyAccountCard, you can:
•Receive your federal tax refund faster than a paper refund check would arrive in your mailbox.
•Avoid the risk of lost or stolen checks. Your federal tax refund is securely deposited into your card and funds are available to you immediately.
•Keep more of your federal tax refund and regular income by saving on check-cashing fees and other costly services.
•Avoid overdraft fees.
•Eliminate the need to carry a lot of cash, and the worry about having your cash lost or stolen.
•Receive free balance updates online or by calling toll-free anytime. You can also sign up to receive free balance alerts via your mobile phone (standard text messaging rates may apply from your wireless carrier).
•Sign up with confidence. No credit check or prior bank account is required.
Sample Fees
As part of the initial phase of the MyAccountCard program, Treasury is making MyAccountCard available only to those who have received letters from Treasury. Each individual cardholder will receive detailed information about specific fees associated with his or her card, in advance of deciding whether to sign up for the card. Treasury is randomly offering several different variations of MyAccountCard in order to evaluate which product features, fee structures and marketing messages generate the greatest positive response from taxpayers. The results of the pilot will allow Treasury to then evaluate the benefits and feasibility of offering a card account as an integrated part of the tax filing and refund process. A list of standard MyAccountCard fees follows.
Service Fee
Monthly fee $0-$4.95 depending on the offer
Savings account For those participants who are offered a savings feature, there is no charge to open or maintain the account. No minimum balance and 0.25% annual percentage yield (Variable rate, subject to change). Fees may apply to withdraw your funds if you use an ATM outside of the MyAccountCard network. There are limitations on the number of withdrawals per month.
Card acquisition fee Free
Unlimited ATM cash withdrawals at 15,000 participating locations nationwide ($2.50 service fee applies for out-of-network ATM withdrawals) Free
Transactions at U.S. merchant locations Free
Purchases online or over the phone Free
Cash back with purchases Free
Online bill pay Free
Balance inquiries online, by phone, by text and at in-network ATMs (standard text messaging rates may apply from your wireless carrier) Free
Add money with direct deposit Free
Lost/stolen card replacement $4.95
Second card $4.95
Out-of-network ATM cash withdrawals $2.50 plus any fee the ATM owner may charge
Teller cash withdrawals $2.50
Balance inquiries at out-of-network ATMs $0.50
Add money in-person at participating retail locations Up to $4.95
Card use outside of the 50 United States 3% of transaction amount
www.myaccountcard.gov/about-the-card/#fees
ty nalmann
MyAccountCard Visa® Prepaid Debit Card, issued by Bonneville Bank, is a new card being piloted by the U.S. Department of the Treasury to improve tax administration and to give individuals an opportunity to receive their federal tax refund faster and take advantage of a safe, low-cost card they can use every day in place of checks and cash. My AccountCard holds the potential to streamline the tax administration process and provides money-saving conveniences and consumer protection features for taxpayers who lack access to traditional banking services.
MyAccountCard is available only to people who have received an offer letter from Treasury. More than just a refund card, MyAccountCard can be used to:
1.Get cash: Use MyAccountCard for free withdrawals at more than 15,000 ATMs nationwide or by asking for “cash back” during check-out at retail locations. A $2.50 service fee, plus any fee the ATM owner may charge, applies to all out-of-network ATM withdrawals.
2.Make purchases: Shop in stores, online or by phone – anywhere Visa® debit is accepted.
3.Pay bills: With MyAccountCard you no longer need to purchase money orders or pay for postage because you can pay your bills for free online.
4.Add money: Adding money to your MyAccountCard account is easy – choose one of three options:
1.Electronically deposit your tax refund to your card and receive it faster than a paper check.
2.Add your wages or other income for free by signing up for direct deposit.
3.Add cash in-person for a fee up to $4.95 at more than 50,000 retail locations, including Walmart®, Walgreens®, CVS®, 7-Eleven®, K-Mart® and Rite Aid®.
4.Transfer money directly from your bank, credit union or other financial institution for free (your financial institution may apply transfer fees).
Card Safety
MyAccountCard is designed to be safe and secure:
•Federal law protects funds if the card is lost or stolen, unlike cash. Certain limitations and a $4.95 lost/stolen fee applies to obtain a replacement card, see Cardholder Agreement in your offer from Treasury for more details.
•Visa® Zero Liability policy protects cardholders against any unauthorized transactions, when promptly reported. Visa® Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa®, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.visa.com/security.
•Bank issued; FDIC insurance applies. Bonneville Bank, member of FDIC.
•PIN-based secure access – only you control your MyAccountCard.
Card Fees
As part of the initial phase of the MyAccountCard program, Treasury is making the MyAccountCard available only to those who have received letters from Treasury.
Complete information about fees is provided to everyone who receives the card offer in the mail. Treasury is randomly offering several different variations of the MyAccountCard to evaluate which product features, fee structures and marketing messages generate the greatest positive response from taxpayers. The results of the pilot will allow Treasury to then evaluate the benefits and feasibility of offering a card account as an integrated part of the tax filing and refund process. For a list of standard fees, see below.
Additional Benefits
When you sign up for MyAccountCard, you can:
•Receive your federal tax refund faster than a paper refund check would arrive in your mailbox.
•Avoid the risk of lost or stolen checks. Your federal tax refund is securely deposited into your card and funds are available to you immediately.
•Keep more of your federal tax refund and regular income by saving on check-cashing fees and other costly services.
•Avoid overdraft fees.
•Eliminate the need to carry a lot of cash, and the worry about having your cash lost or stolen.
•Receive free balance updates online or by calling toll-free anytime. You can also sign up to receive free balance alerts via your mobile phone (standard text messaging rates may apply from your wireless carrier).
•Sign up with confidence. No credit check or prior bank account is required.
Sample Fees
As part of the initial phase of the MyAccountCard program, Treasury is making MyAccountCard available only to those who have received letters from Treasury. Each individual cardholder will receive detailed information about specific fees associated with his or her card, in advance of deciding whether to sign up for the card. Treasury is randomly offering several different variations of MyAccountCard in order to evaluate which product features, fee structures and marketing messages generate the greatest positive response from taxpayers. The results of the pilot will allow Treasury to then evaluate the benefits and feasibility of offering a card account as an integrated part of the tax filing and refund process. A list of standard MyAccountCard fees follows.
Service Fee
Monthly fee $0-$4.95 depending on the offer
Savings account For those participants who are offered a savings feature, there is no charge to open or maintain the account. No minimum balance and 0.25% annual percentage yield (Variable rate, subject to change). Fees may apply to withdraw your funds if you use an ATM outside of the MyAccountCard network. There are limitations on the number of withdrawals per month.
Card acquisition fee Free
Unlimited ATM cash withdrawals at 15,000 participating locations nationwide ($2.50 service fee applies for out-of-network ATM withdrawals) Free
Transactions at U.S. merchant locations Free
Purchases online or over the phone Free
Cash back with purchases Free
Online bill pay Free
Balance inquiries online, by phone, by text and at in-network ATMs (standard text messaging rates may apply from your wireless carrier) Free
Add money with direct deposit Free
Lost/stolen card replacement $4.95
Second card $4.95
Out-of-network ATM cash withdrawals $2.50 plus any fee the ATM owner may charge
Teller cash withdrawals $2.50
Balance inquiries at out-of-network ATMs $0.50
Add money in-person at participating retail locations Up to $4.95
Card use outside of the 50 United States 3% of transaction amount
www.myaccountcard.gov/about-the-card/#fees
ty nalmann