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rated:
Was told the bank associated with Brinks prepaid MC is Metabank. But I don't see that name on the card or online on the site. Concerned about sending my money to a savings acct at some unknown financial institution. There are plenty of scammers out there & I don't care to become another victim. Need concrete information. It's nice to collect the 5% on $5000 but only if the $5000 is still there when you want it.

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rated:
Brinks only pays 5% on the first $1000.00.

Take a little time and read the card holder agreement.It has all the info you ask...
https://www.brinksprepaidmastercard.com/features.shtml#sa

There are pages and pages of info about the netspend type accounts on this forum. Just take a second and do a search.

rated:
Will do. Thnx

rated:
FYI. Possible your info is dated. Looking at the savings acct info & as of 4/27/15 to present the APY is 5% of $5000 & .50% for everything over that amt. Still concerned about the actual bank backing this card & holding the savings acct. I see nothing that says Metabank anywhere. All it says is The savings acct is made available to Cardholders through Bofl Federal Bank, Member FDIC. Can't find any phone # or address for bank.

rated:
Did you even look at the above link for the Brinks account? Scroll down and read the fine print for the savings account.

"
If the Average Daily Balance is $1,000.00 or less, the interest rate paid on the entire balance will be 4.91% with an Annual Percentage Yield (APY) of 5.00%.
If the Average Daily Balance is more than $1,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $1,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $1,000.00 or less will be 4.91%. The APY for this tier will range from 5.00% to 0.54%, depending on the balance in the account."

And under that it says...
"The interest rates and APYs of each tier may change. The APYs were accurate as of January 1, 2017."

I have had this account for a few years and they lowered the 5% tier to $1K on July 1, 2016.

Here is a good past thread about these netspend type accounts. Look at the first page under the quick summary and you will see the run down of all the accounts including interest rates, name of backing bank, etc.
https://www.fatwallet.com/forums/finance/1434408

Brinks is backed by BofI Federal
https://www.bofifederalbank.com/

The Netspend, Western Union and a few others are backed by Metabank.
https://www.metabank.com/

rated:
I read what i just received with my new card. But where your info says $1000 what came with my card only 5 days ago says $5000. But it's a moot point. I shredded the card. Not worth the hassle.

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