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I got a prepaid mastercard when I got my job and I always wanted to be able to transfer the money off that card to my bank, because I don't want to use that over a rewards credit card. I was always told in the beginning it was not possible to do, so I stopped thinking about it. However I will say this, my job just made a change that massively effects me, so I NEED the money off that card. Everyone is effected really badly by this change, and we just got told today, they aren't going to do anything about it. I was told by my supervisor that it actually is possible to move the money from the card to my bank. She no longer has the card anymore though so she can't remember how to do it. No one else seems to know how to do it either but I know it is possible so I need to figure out how to do it.
It is a prepaid debit mastercard (although it is ran as credit) and it is from myprepaidcardcenter. Does anyone have any idea on how I could possibly transfer the money from that card to my bank?
Get your routing number and your account number from your bank. Then go to your human resources office and fill out the form to have your pay deposited into your bank account.
Do this immediatly. Never use a prepaid card to deposit your pay.
*Every time I read articles about the "underbanked" I struggle to figure out how this method became so popular. You have no protections with this method.
Echoing the post above, don't do it if it's company funds.
If you have a trusted friend (or maybe just another account), you could likely use that card to fund a money transfer in Venmo. Once it comes back into your account, you could transfer it to wherever you want.
@CreditInspired wrote:
I think the answer we need first is, are those funds yours? If the answer is no, there is no way in <BLEEP> I would even consider assessing those funds. If indeed it is the Company’s funds, you could be traversing dangerous waters (fraud) if you take funds that are not rightfully yours.
Just my 2cents
I am sorry, yes the money is mine, and the card is mine as well. Each employee is given one when they start there.
@Anonymous wrote:Get your routing number and your account number from your bank. Then go to your human resources office and fill out the form to have your pay deposited into your bank account.
Do this immediatly. Never use a prepaid card to deposit your pay.
*Every time I read articles about the "underbanked" I struggle to figure out how this method became so popular. You have no protections with this method.
I would NEVER deposit my paycheck on a prepaid card, it is directly deposited into my wells fargo. It is given to me by the company for incentives, kind of like small commissions for doing my job well.
@SBR249 wrote:Echoing the post above, don't do it if it's company funds.
If you have a trusted friend (or maybe just another account), you could likely use that card to fund a money transfer in Venmo. Once it comes back into your account, you could transfer it to wherever you want.
That sounds good, so I create an account with them and then I transfer the money to someone else from the card and then I am able to transfer that money to my bank from there?
@Anonymous wrote:
@SBR249 wrote:Echoing the post above, don't do it if it's company funds.
If you have a trusted friend (or maybe just another account), you could likely use that card to fund a money transfer in Venmo. Once it comes back into your account, you could transfer it to wherever you want.
That sounds good, so I create an account with them and then I transfer the money to someone else from the card and then I am able to transfer that money to my bank from there?
You create a Venmo account, set your funding source as the prepaid card, do a transfer to a trusted person with a Venmo account. Get them to transfer that money back to your Venmo account (hence you should pick someone you trust) and then you can transfer it to your bank account from your balance once the money is back in your Venmo account.
The Venmo website says there's no fee to send money from a debit card, bank account, or your Venmo balance, but there is a fee for using a credit card as your funding source. It doesn't mention anything about prepaid cards other than that they are accepted. But I would expect that prepaid cards are treated like debit cards and should be fee free but maybe that's something you'd want to confirm.