Review of the Homeland Prepaid Visa Debit Card



The Homeland Prepaid Visa Debit Card was last reviewed on 6th March 2006



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Summary - The Homeland Prepaid Visa Debit Card is issued by Four Oaks Bank and Trust. It is a basic prepaid credit card which offers an "Executive benefits Package". This is a membership that allows members and cardholders to save on shopping, health and roadside assistance cost. Find out more about this card..

Cost and Fees - Like most prepaid credit cards, the Homeland Prepaid Visa Debit Card charges a one-time application and fee and processing fee when you apply. The one-time application fee is $59.95, which is non-refundable. You also have to pay a one-time processing fee of $90.00. You will also have to load your card with $10.00 (as an initial first load). Hence, in total, you will pay $159.95 upfront when you get your card. This charge will be debited from your bank account. There is a monthly fee of $8.90.

Methods of loading the Home Prepaid Visa Debit Card - There are various ways which you can load your card. Firstly, you can load them via Direct Deposit from your employer. There is no limit as to how much funds you can load via direct deposit. You can also load your card via another debit Card (which will take one business day for the transfer to take effect), ACH transfer, bank checking or savings accounts , or U.S. Postal Money Orders. All of the above methods will take 5 days to for the transfer to be initiated (with the exception of the debit card transfer).

Cardholders will be charged a fee when you load your card. There is a $1.00 charge each time you load via direct deposit and bank account to card reload. There is also a $0.50 charge each time you use the card to make a purchase at a mechant or for online purchase.

Funding Limits - There are a few funding limits that cardholders of the Homeland Prepaid Visa Debit Card have to observe.

1. There is no limit upon the maximum amount that may be transferred to your Card by an employer for your regular work payment.

2. You may not load more than $500 or less than $25 onto the card at any one time from your Funding Account.

3. The Card may not be loaded more than twice per day or ten times per week, nor for more than $1,500 per day or $5,000 per week.

ATM Withdrawal - You can also use the Homeland Prepaid Visa Debit card to withdraw money from ATM machines or even from merchants. You are allowed to withdraw up to $300 within 24 hours from ATMs. The maximum cash back service cardholders can receive from a merchant (upon a purchase) is $50.00. Cardholders will be charged $1.50 for each ATM withdrawal.

Executive Plus Package - New cardholders will be offered automatic enrollment in "executive benefits package" that offers members discounts for shoppping, health and roadside assistance. You will get 3 additional cards, a Preferred Shoppers Card, a Health Card and a Roadside Assistance Card. The Preferred Shoppers Card allows you to get discounts on "brand name" products anywhere from 10% to 60%. The Health Card is a non-insurance program that allows members to save on health products at participating merchants. You can save on your Pharmacy bills, Vision bills, Dental bills, Hearing costs, even your Hospital visits. The Roadside Assistance tows your car and saves you money on auto rentals, and has Legal support for any issue you and your family may have on the road. Membership fees is #29.95 monthly. If you choose not to enroll in this program, you have to give "executive benefits package" a call (numbers will be provided in package when you receive your card).

Conclusions - The Homeland Prepaid Visa Debit Card will appeal to those who would like to get a prepaid debit card with the "Executive Benefits Package". You have to be aware that this card does not report to credit bureaus. Hence, you cannot build or rebuild your credit history with this card. (If you wish to rebuild your credit using a prepaid credit card, check our article Prepaid Credit Cards with Credit Builder.

If the Executive Benefits Package does not interest you and all you want is just a basic prepaid debit card, then we would recommend either the Wired Plastic Prepaid Visa® or the Vaya Prepaid MasterCard® , as they have much lower transaction costs and fees compared to this or most other prepaid credit cards.

Positives
  • No credit checks
  • No employment checks
  • Executive Benefits Package


Negatives
  • Various application fees and transaction fees (which are common in prepaid credit cards).


Homeland Prepaid Visa Debit Card
Cost/Fees
Annual Fee $No annual fee
Monthly Maintanence Fee $8.90
Application Fee $59.95
Processing Fee $90.00
Bank Account to Card Reload Fee $1.00
Direct Deposit Reload Fee $1.00
Purchase at Merchant Fee $0.50
ATM Withdrawal Fee $1.50
Point of Sale Withdrawal Fee None
ATM Balance Inquiry $1.50
Customer Live Call Fee $3.00
Paper Statement Fee $5.00
Card replacement/cancellation/reactivation Fee $5.00
Maximum Load Not more than twice a day or ten times a week
not more than $1,500 a day or $5,000 a week
Maximum ATM Withdrawal $300 within 24 hours



Apply for the Homeland Prepaid Visa®

If you already have the Homeland Prepaid Visa Debit Card, we would appreciate if you can take some time to post your review. Our readers will find them very helpful.


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