Review of the Vaya Prepaid Mastercard

The Vaya Prepaid Mastercard was last reviewed on 7th March 2006

vaya prepaid mastercard
Summary - The Vaya Prepaid Mastercard (issued by BankFirst) is one of the cost effective prepaid credit cards. It has a lower application fees than most other prepaid debit cards and also charges no fee for most money transfers to the card. Furthermore, you can earn $25.00 if you refer a friend to the card. Its' online management tools and email alerts sets it apart from other prepaid debit cards. Find out more about this card....

Cost and Fees - The Vaya Prepaid Mastercard has lower costs and fees than most prepaid credit cards. There is a one-time-application fee of $49.00 (versus $90.00) for many other prepaid debit cards. There is no processing fee. The monthly fee is $5.95, which is lower than many prepaid credit cards that charge $8.90. What is more important is that the Vaya Mastercard does not charge any fees for most methods of transfering money to your card. There is no fee for Direct Deposits, Bank ACH Transfer, Money Order or Card to Card transfers. Furthermore, if the card is used in a signature based transaction, there is no fee. Calls to customer service is also free (versus many cards that charge as much as $3.00 to reach a live customer representative).

You can also load your card via Western Union SwiftPay. However, that will cost $5.95.

Bill Payments and Online tools - The Vaya Prepaid Mastercard provides some of the most comprehensive tools available to manage your card. You can receive alerts to your email or cell phone notifying you of any activity on your card. You can receive daily balance alerts, transaction alerts every time your card is used, and payment alerts notifying you that funds have been loaded on to your card. You can also use our online BillPay feature to automatically pay your bills each month (it cost $0.50 for electronic BillPay).

Referal Fees - To promote their cards, the Vaya Prepaid Mastercard pays cardholders $25.00 for every friend that they refer. You can earn unlimited referal fees. The referal fees you make are automatically credited into your card for you to use.

Verdict - We highly recommend the Vaya Prepaid MasterCard® to those looking for a basic prepaid credit card because it has one of the lowest cost and fees among all prepaid credit cards. It cost less to apply and maintain this card. It has also sophisticated online tools and alerts to help you keep track of your spending. Furthermore, you can use their BillPay feature and pay your bills automatically from the card. You do have to be aware that because this is a prepaid credit card, your card activities are not reported to any credit bureaus. Hence, you cannot build or rebuild your credit with this card.

If you are looking for a prepaid credit card that can help you rebuild your credit, you should check out our article on Prepaid Credit Cards with Credit Builder.

  • Very low costs and fees
  • Sophisticated online and account management tools
  • Pays a referal fee when you introduced a friend to the card

Vaya Prepaid Mastercard
Annual Fee $No annual fee
Monthly Maintanence Fee $5.95
Application Fee None
Processing Fee $49.00
Bank ACH Transfer Fee Free
Direct Deposit Reload Fee Free
Money Order Reload Fee Free
Card to Card Transfer Fee Free
Western Union SwiftPay Fee $5.95
Wire Transfer Fee $7.50
BillPay Electronic Payments $0.50
BillPay Paper Check $1.50
ATM Withdrawal Fee $1.50
Signature Based Transactions Free
Pin Based Transactions $1.00
ATM Balance Inquiry $1.50
Customer Live Call Fee Free
Paper Statement Fee $1.00
Card replacement Fee $5.00
Companion Card $5.00

Apply for the Vaya Prepaid MasterCard

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

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