You could get a Visa prepaid debit card with the Visa logo in
your mailbox, ready to be activated in 48 hours flat. No credit
checks, no ChexSystems, none of the other common hassles that
come with opening a traditional checking account. A prepaid
Visa debit card, plain and simple. Are online checking and
prepaid debit cards ‘The New’ checking account?
First of all, as we all now, brand name matters. Unless you
have an ATM card with a Mastercard or Visa logo on it, it’s
basically another card taking up valuble space in your wallet.
I use Visa prepaid cards myself, I find they are accepted in
more places that I shop. Whether from the mailbox or your
bank manager, brand name is a must. the best prepaid debit
card, Visa or Mastercard is up to you.
Second, and more to the point: Does anybody actually write
checks anymore? Everything is online checking, account updates,
instant debit, instant charge to your Visa card. So, is a
paper check still relevant? It’s a personal choice of course.
As for myself, I love simplicity.
Third, do Visa prepaid debit cards offer direct deposit like
most traditional bank accounts do? The answer is Yes! Most
prepaid debit cards, Visa or Mastercard, do offer direct deposit
credited directly to their online checking account, credited
to their debit card balance. In fact, most ‘free checking account’
require direct deposit to keep the account ‘free’. So once again,
not much difference between prepaid cards and checking accounts,
just no actual paper checks.
And last, what about credit checks? How about ChexSystems?
A bank account can be denied because of bad credit, or a Chex
Systems flag. A potentially embarassing situation. But with
many Visa prepaid debit cards have no credit checks and are
affiliated banks that don’t use ChexSystems. Just free activation
and a deposit, 100% approved. Again, Visa prepaid comes out
Visa prepaid debit card = 4
‘Traditional Checking Account’ = 0
In closing, whether you decide to go the traditional route
or sign up with one of the many Visa certified debit cards
available with online checking, that’s a decision that’s
your’s to make. No credit checks, non Chex Systems, direct
deposit, that’s the way to go. Clearly, prepaid and 100%
approval debit cards are the clear winner for me!
Ron Butterfield is a Loss Mitigation Specialist and aspiring
author. He lives in sunny Redondo Beach, California.
Did you find this article on Visa Prepaid debit cards vs checking accounts
usefull? You can learn a lot more about how non ChexSystems banks
Account Now’s 100% Approval,prepaidVisa Debit Card comes highly recommended.