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.
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.
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
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
Earn Cash Back while you shop - just 3 simple steps.
1. Sign Up so we know who to pay! (It's FREE.)
2. Shop through FatWallet for deals from your favorite stores. Your online purchases earn Cash Back that builds in your FatWallet account.
3. Get Paid by requesting a payment via check or PayPal.
FatWallet coupons help you save more when shopping online. Use our Coupons Search to browse coupons and offers from thousands of stores, gathered into one convenient location.
As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums. Forum content is generated by consumers for consumers. Share deals, money-saving tips, and more. It's FREE, fun, and addicting.
Our customer experience team is here around the clock - real people ready to assist.