While credit card usage is declining in the United States, the popularity of debit and prepaid debit cards is rising. Americans held an estimated $100 billion on prepaid cards in 2016, up a hundred-fold since 2003. Traditional debit cards link to a bank account and function much like a credit card, except funds transfer almost immediately. Prepaid debit cards require you to add funds through direct deposit, or manually using a variety of methods.
Add Funds By Direct Deposit
Contact the company that issued your prepaid debit card, either by phone or by logging into your account on the website, and request a direct deposit form. The form contains the Direct Deposit Account Number and a Routing Number for your particular card.
Fill out and sign the direct deposit form, indicating the amount you want deposited to your card each pay period. This amount can be a specific amount or a percentage of your total pay. Submit the direct deposit form to your employer.
The Cash Loading Method
Locate a third party facilitator, or money transfer service, connected with your prepaid debit card company. Most often, this will be either a Western Union or a MoneyGram location. Read the documentation that comes with your card, look on the company website, or call the customer service department to confirm a location or find alternate providers.
Fill out the required form, and then submit the form, funds, and applicable fees to the cashier. Use the prepaid debit card whenever you wish, as funds will available immediately.
Using a Reload Pack
Find a location where you can purchase a reload pack, such as a Green Dot store. Read the documentation that comes with your card, look on the company website, or call the customer service department to confirm a location or find alternate providers. Purchase a reload pack for the amount you want to load on your prepaid debit card.
Call the provider or visit their website and enter receipt information, usually your prepaid debit card account number and confirmation number. Use the prepaid debit card whenever you wish, as funds will available immediately.
Most companies allow you to download and print a direct deposit form directly from their website. Log into your account and locate instructions on adding funds to your card. It may take one or two pay periods before a payroll direct deposit takes effect, so be sure to investigate alternative methods for adding funds to your prepaid debit card during the interim. If you add funds to a prepaid debit card using a MoneyGram location, you need to provide a “Receive Code” number.
- CreditCards.com: Credit Card Debt Statistics
- Loan.com: 4 Ways to Add Funds to Reloadable Prepaid Debit Cards
- AccountNow: Add Money, Day or Night
- AccountNow: Direct Deposit Form
- Fin: The Rise of Prepaid Cards in America
- CreditCards.com: Prepaid Cards
- JP Morgan: Prepaid Cards Heighten Financial Benefit