METABANK and its affiliate netSpend?
I researched and did not find anything negative. I want to have my direct deposit sent there from work. The fees are reasonable and all my funds from payroll, tax returns, child support if I ever get any will be deposited on a prepaid MasterCard.
Any one have any experience with this?
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Anyone Have Any Experience With This Bank?
Posted on June 30, 2011.
No experience but I did find a fairly interesting article (open in link below) about it. Looks like they had a problem with usury – charging too high (over 36%) interest on loans. This would make me search for more information about its current situation – how things have changed, better or worse, since the article was written – Oct. 2010. I’d look for things such as stock market valuation and customer base changes, and whatever else I could dig up. American Express for instance has been doing quite well the last few months – most financial institutions usually rise and fall together to a rather close degree. One going well off the general cycle, rising or falling, is cause for interest.
I have a personal dislike for prepaid cards – they are not provided the same protection that a credit card has against loss/fraud. Having said that, I have used one for several years to get paid on one job (no choice – before they went to direct deposit) – I withdrew all the money at first opportunity and deposited it in my bank.
Good luck!