For those of you who still have an obopay account (or twelve) check your mail. Obopay is increasing fees for the [optional] linked prepaid Mastercard as of November 27, 2007. One of those fees is a monthly maintenance fee of $4.95. The fee can be waived under certain circumstances but none of those circumstances involve leaving the card unused in your sock drawer.

Canceling is easy, even if you have multiple accounts. Just call 1-888-862-6729 between 6:00 a.m. and 6:00 p.m. Pacific time.

On an unrelated note, am I the only one that did not realize that the obopay debit Mastercard is issued by our old friends First Premier Bank?

i'm screwed. !!! I have 3 accounts. what to do now? call them to cancel? it's kindda ....weird to tell them that i have 3 accounts.

Can you post the link to where the fees has been increased? i haven't gotten the email from them yet.

let em try to bill me for a negative balance.

Let them just try

DFW06 said:i'm screwed. !!! I have 3 accounts. what to do now? call them to cancel? it's kindda ....weird to tell them that i have 3 accounts.

Can you post the link to where the fees has been increased? i haven't gotten the email from them yet.
It came in the snail mail for me today.

so what that they have the SSN?

If they tried to collect a negative balance, collections could be placed on a report with or without one. If they want to try that, that 4.95 to them turn into $1000 to me, Im up for it

SUCKISSTAPLES said:If they tried to collect a negative balance, collections could be placed on a report with or without one. If they want to try that, that 4.95 to them turn into $1000 to me, Im up for it If you owe them money, they are allowed to attempt to collect the debt, you know.

markkundinger said:I haven't received the mail yet. Does the inactivity fee only apply to the prepaid card?

I don't have a prepaid card, so I'm thinking I can just leave my $0 account there.
Yes, it's Important Changes to the Obopay Prepaid MasterCard. The only letters I received were for my card accounts, which were the older ones back from when they automatically sent out a card for every account. One of the ways of avoiding the fee is having a "sponsored account," whatever that is. The other is when you add money to your account at least once a month.

Hmm, it might be worth it to me to add money once a month to keep this card around.

Obopay is one of the few cards where I can be sure that it's going to decline any charge that exceeds the balance. Many bank debit cards allow a charge to go through even when there's not enough money in the account to cover it. The bank wants to stick you with their NSF fee. Also, virtual card numbers with limits like the ones issued by BOA/FIA will let charges slip through that exceed the limit you set up.

For things like holding hotel reservations or guaranteeing calling cards, my Obopay debit card is useful because I know it's going to decline any charge that the merchant will try to make in excess of the balance.

mapen said:For things like holding hotel reservations or guaranteeing calling cards, my Obopay debit card is useful because I know it's going to decline any charge that the merchant will try to make in excess of the balance.

huh, hadn't thought of that. Good to know that it'll reject.

Thanks OP. Just emailed them to cancel.