Learn about money

Knowledge is power

Select a Topic:
Why cash is not the best solution?
What's the best way to save?
What is direct deposit?
Do I need a budget?
How do I know how much money I have available on a prepaid Card?

Questions about money

Why cash is not the best solution?

Cash does not work in every instance. For example, if you want to buy something online, you can't use cash. You also can not use cash to rent a car or reserve a hotel room. These days, Prepaid Debit Cards, Debit Cards, and Credit Cards let you do more transactions than cash alone. Plus, carrying cash is not always safe, since it can be lost or stolen and you rarely get your cash back*.

What's the best way to save?

It seems simple, but we know it can be hard to save money. You have to track you earnings and your expenses, think of ways to reduce the amount you spend and spend less than what you earn. A Prepaid Card can help you save. One way a Prepaid Card can help is by limiting how much you can spend, because you control how much you load onto the Card.

What is direct deposit?

Direct Deposit is an electronic funds transfer in which your employer transfers payments they owe you directly to a bank account or Prepaid Card account. With Direct Deposit, all or part of your salary, or any other regular check payment, can be added to your Prepaid Card account. It is safe, quick and more practical than receiving paper checks. Direct deposit can also save you from the hassles and expenses associated with cashing a check or carrying cash.

Once your Direct Deposit is set up, the same amount will be added to your designated Card account each payment period. Direct deposit has many advantages over paper checks, for both you and your employer or payer. For example:

• Direct deposit saves you a trip to the check cashing store to cash your check, enabling you to access your money more quickly. If something unexpected happens, or you are ill or out of town, your money will still get deposited.
• You can set up Direct Deposit so that it channels money into more than one account, including a savings account or brokerage account. When you set up Direct Deposit this way, it can help you save and invest money by automating the process.
• Direct Deposit is more secure than the mail and provides fewer opportunities for theft or loss.
• Direct Deposit can be arranged for most financial distributions, including payroll, tax returns, Social Security payments, pensions, annuities, IRAs, and 401(k)s.

*Amount may vary. Not representative of actual tax refund/direct deposit.

Do I need a budget?

Everyone can use a budget. First write down how much money you earn in a month. Then write down your fixed monthly expenses, or what you have to spend every month to survive. Finally, write down what you spend for pleasure. If your expenses are greater than your earnings, then you have to balance it out. Balancing your income and expenses is how you make and keep a budget.

How do I know how much money I have available on a prepaid Debit Card?

There are many ways: if you subscribe to an alert service, the Prepaid Debit Card will send your balance in a text message to your cell phone. You can also check your balance 24 hours a day on the Internet or by calling a toll-free number. Standard text messaging rates from your wireless provider may apply.

*Conditions and exceptions apply. Website for more information about Mastercard Zero Liability: www.mastercard.com/general/zero_liability.html