Did anyone have ACE Flare Prepaid and Savings account? How is it?

[Anonymous]

Looks like after setting up DD of $500, the monthly fee would be lowered to $5.

https://www.flareaccount.com/

Do we need to setup DD for just once or for ever?

Is it worth opening considering there's going to be $5 fee forever? Thanks !

[core]

I've never had the account but I looked into it.  It isn't worth it:  The 5.87% APR on up to $2k means you get around $9.78/mo in interest, less the $5 fee is $4.78 profit.  But you've tied up $2k that you could be earning 3.00%+ on from any number of places so you've lost out on another $5.  So you're actually losing $0.22/mo by my back of the envelope calculations.

With that said, I see it's run by Metabank and I'd be all over this if they allowed you to continuously load your account with Metabank prepaids.

[Anonymous]

Thanks. I agree. 

Their customer support is pathetic. I submitted my inquiry online on April 18, 2020, and I received a response on June 26. No response to follow-up emails as well.