Bank Of America Prepaid Debit Card Frequently Asked Questions
DEW’s Prepaid Debit Card is a Visa®-branded card account, which allows direct deposit of unemployment benefits payments to those who do not have a traditional bank account or who do not want their payment deposited into their existing bank account. There is no credit check required.
The deposit account is FDIC insured and follows all Regulation E requirements for consumer protection. The account owner has access to his or he funds 24 hours a day, seven days a week via purchases everywhere Visa debit cards are accepted, ATMs and PIN-based point-of-sale terminals, as well as over-the-counter cash access through tellers at any Visa financial institution.
Account Balance & Transaction History
- Sign up for text alerts
- Hear your recent transaction history
- Report a lost or stolen card and order a replacement
- Speak to a live customer service representative if you need more help
If you have any questions about your ReliaCard or your account, you must logon to www.usbankreliacard.com or call ReliaCard cardholder services at 800-657-6343. U.S. Bank branches, or your personal bank, cannot help you with your ReliaCard account.
How Bank Of America Makes Money From People Accessing Unemployment Benefits
Commonly referred to as a convenience fee, a swipe fee, or an interchange fee, all credit card companies are allowed to charge merchants a fee for accepting electronic payments, and these fees are often passed on to the consumer. Swipe fees currently run between 21 and 24 cents per transaction. These fees total about $20 billion dollars a year for big banks. Additionally, banks are allowed to charge merchants .05 percent of a total transaction as a fraud loss recovery charge.
And while Bank of America did not pay California for the contract or vice versa, the bank makes $408,000 in convenience fees if every Californian on unemployment swipes their debit card just once or pays one bill via the internet with their EDD Visa debit card. Two swipes each and BofA makes $816,000 in convenience fees three swipes and BofA makes over $1.2 million dollars in convenience fees. How convenient indeed!
These figures do not include fraud loss recovery charges or Californians who are on state disability and paid family leave. It only includes the 1.7 million Californians who are unemployed. Nice one, BofA.
If you happen to be a Californian receiving unemployment benefits, disability, or paid family leave, you must refrain from using the EDD debit card, whether by swipe or bill paying via the internet.
Be Sure to Activate Your EDD Card by PhoneDon’t Activate It Online!
How Can I Get My Debit Card Replaced
If your card is lost, stolen, or damaged, it can be replaced at no cost to you.
If your card has been lost or stolen, you must contact Bank of America at 1-866-692-9374 .
If your card is damaged, you can order a replacement card online by visiting the Bank of America debit card website.
If your card has expired, and you did not have any activity on the card within the last 90 days, or if you have a balance of less than $20, contact Bank of America debit card customer service.
Note: If you have activity on your card within the last 90 days, or if there is a balance of $20 or more, Bank of America will automatically mail you a new card before your card expires.
How Do I Transfer Funds From The Debit Card To My Personal Bank Account
Heres how to transfer funds from your card account to a traditional checking or savings account.
First, sign on to the website and select the Transfer Funds option from the Account Summary page.
Next, you will need to register a transfer-to account prior to performing your first transfer.
Once your transfer to account is authenticated , your transfer will be made.
After you have transferred funds online, it can take up to 2 business days to receive your funds in your account, and the transfer cannot be canceled once entered.
If your account is a Bank of America account, the funds could be available the next business day, if not sooner.
A minimum value of $20.00 may be transferred.
Note that you can only transfer funds to a traditional checking or savings account owned by you at any U.S. financial institution
Transfers Cannot Be Reversed
Once funds are transferred to your checking or savings account, you will not be able to have the funds returned to you.
Therefore, it is important to make sure the routing number or account number you provide for your checking or savings account is correct.
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Introducing The California Edd Debit Card Courtesy Of Bank Of America
Since July of 2011, Californians who receive unemployment, state disability, or paid family leave MUST use Bank of Americas Visa debit card to receive their payments. Beneficiaries have no choice but to accept this form of payment regardless of whether or not a beneficiary has their own financial institution where they have a checking or savings account.
While Americans across the country were occupying Wall Street, unemployed Californiansmany of whom have lost their homes from shoddy, unethical mortgages written by Bank of Americawere making that same bank wealthier every time they swipe their EDD debit cards.
Making Millions Off of “Convenience” Fees
If every Californian on unemployment swipes their EDD Visa debit card just once or pays one bill via the internet with that card, Bank of America makes $408,000 in convenience fees. And if each person swiped their EDD card three times, then the corporate bank makes over $1.2 million dollars in convenience fees. And all of this is simply for the “privilege” of accessing the funds they were given by the government.
Navigate To The Send Money Page And Fill Out Payment Info
Once youre signed up, click on the Send Money option in the menu. You should see a page like in the screenshot above.
On this page:
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Three: Register Or Log
After finding out whether your prepaid card provider allows such a transaction, you can sign-up for an account or log in if you already have an account.
If you need to do registration, then you will need your prepaid card with you. After signing-up, you can use the log-in details for future transactions.
Types Of Primary Identification
Primary identification is any current, valid government-issued identification with photo and signature. Some examples of government-issued photo identification include:
- a valid driver’s license Notes:
- Several states, such as Indiana, provide residents with a temporary, interim ID when they apply for new or renewed drivers licenses. An interim driver’s license of this type is valid for a short period of time, allowing the issuer time to mail out the permanent license. An interim drivers license is an acceptable form of primary identification, as long as it has not expired and contains both a photo and a signature.
- IDs from the five inhabited U.S. territoriesPuerto Rico, Guam, US Virgin Islands, Northern Mariana Islands, and America Samoaare accepted like any U.S. state ID and are permitted as a primary form of ID.
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Getting Your Unemployment Benefits On The Reliacard
Many states offer the choice of receiving unemployment benefits on the U.S. BankReliaCard.1 The COVID-19 pandemic has caused a surge in unemployment claims and a sharp increase in requests for this card.
To help you find information about using the ReliaCard for unemployment benefits, weve pulled together this FAQ list. For more general questions, visit our general ReliaCard FAQ page.
Is This Fact Known To Cardholders
Based on the numerous complaints we get about this issue, it appears cardholders are not aware of this fact when they sign up for the Direct Express card.
As a result, customer service is bombarded with questions about why this restriction was instituted in the first place.
One recommendation is for Direct Express to make this fact clear when people sign up for the card. Hence the search for Direct Deposit Forms, which are not available.
We think its a big factor that should be disclosed upfront since some people go into this expecting to use the card in the same capacity as other prepaid cards, like the Walmart Moneycard or Netspend Prepaid.
If you signed up for Direct Express and are frustrated by the fact that you cannot add money to direct express card, let us know in the comments section below.
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When Do Unemployment Benefits Get Deposited
You can expect to receive your unemployment benefits onto your debit card weekly or biweekly, depending on your states unemployment benefit payment schedule.
For example, Texas and Illinois pay their unemployment benefits on a bi-weekly basis, so you should receive payments on your debit card every two weeks. Georgia pays on a weekly basis, so you can expect to receive payment on your debit card each week.
If you want to check the balance on your card, there are a number of ways to do that. You can check your balance at an ATM or online with your card issuer. Your card issuer may also offer the option to sign up for text alerts.
Another important note: Before you start using your card to spend money, its a good idea to tweak your budget.
Am I Eligible For Unemployment Benefits
Eligibility requirements vary from state-to-state. The Unemployment Benefits Finder is an easy way to find information about state benefits, your eligibility, and how to file a claim.
Filing online is the fastest option but many states also let you file by phone ordepending on your states response to COVID-19in person.We recommend filing online or over the phone.
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What If I Lose My Unemployment Debit Card
You can request a replacement card if your card is lost or stolen. To do so, youll likely need to contact customer service for the debit card, not your unemployment agency.
For example, Texas residents will need to call the US Bank Reliacard customer service. California residents will need to call the Bank of America EDD Debit card customer service.
If you lose your card or its stolen, call for a replacement card immediately your remaining balance will be transferred to a new card. But keep track of these cards. Many states offer the first replacement card each year for free but will charge for subsequent replacement cards.
Sign Up For Direct Deposit Or Receive A Reliacard
Due to potential fraud, U.S. Bank has started freezing Reliacards believed to have been involved in identity theft.
If yours has been incorrectly frozen, please contact U.S. bank. If you believe you are a victim of UI fraud please report it here.
For all new claims, the first payment is usually sent by paper check.
The Employment Department pays benefits electronically either by a U.S. Bank ReliaCard® Visa debit card or direct deposit. If you dont apply for direct deposit, you will be sent a ReliaCard®.
With direct deposit, we electronically transfer your weekly benefit payment into your checking or savings account at your bank, credit union, or savings and loan. To apply for direct deposit you will need your routing and account numbers.
- Use the Online Claim System and select electronic deposit,” or
- Print the Authorization for Electronic Deposit Form and send it to us. Note: Due to our current workload, mailing or faxing these forms to us will delay your direct deposit. Using the Online Claim System is the quickest way to receive direct deposit.
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When Will I Receive My Debit Card
The debit card is mailed to you when your first benefit payment is authorized by the EDD. Allow 7 to 10 business days for delivery. Subsequent payments are issued to the debit card when you submit a certification and you are determined eligible for payment.
SDI Customers who are eligible for benefits will receive the following three to five business days after their claim is approved:
- A payment notification .
- California debit card for Unemployment and Disability Benefits notification.
The following items are in your debit card welcome packet:
- Your debit card
- Wallet-size Quick Reference Guide with customer service and fee schedule information
- California Employment Development Department Debit Card Deposit Agreement with Schedule of Bank Fees
When you receive your card, carefully read all information to ensure proper activation and use of the card. We recommend you activate your card immediately.
Can I Put Cash On An Unemployment Benefits Card In Michigan
Many jobless people receive weekly or biweekly benefits from state agencies. These benefits are intended to provide individual financial support so that they can look for a job. These benefits may be provided a number of different ways, such as through direct deposit into a bank account or through the receipt of a check. In Michigan, individuals can choose to receive benefits on a special debit card. They cannot deposit money onto this card, however.
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How An Unemployment Debit Card Works
Have you applied for unemployment benefits or received a card? This guide will help you understand all the details on how unemployment debit cards work.
Erica GellermanJuly 19, 2020
Gone are the days of waiting to receive an unemployment check in the mail.
Unemployment departments now use cheaper and more efficient methods of getting benefit payments to you. One of these methods is with an unemployment debit card.
If youve justapplied for unemployment benefitsor received a card, this guide has all the details on how unemployment debit cards work.
In This Article
How To Check The Status Of My Unemployment Debit Card
After you are approved for unemployment benefits, your state may offer you the option of receiving your benefits on a debit card. This card will typically be mailed to you soon after your benefits are approved, and it will be up to you to monitor any activity on it, including the receipt of your benefits.
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How To Reload Moneycard From A Bank Account
One of the great features of the Walmart MoneyCard is that it allows you to transfer money from your bank account to your Walmart MoneyCard account.
All you have to do is locate your Walmart MoneyCard account and routing numbers then set up the transfer on your banks website
There is no reload fee. However, your bank may charge for this service.
See our detailed post on how to transfer money from your bank account to your Walmart MoneyCard.
Can I transfer money from my Walmart MoneyCard account to an outside bank account?
Unfortunately, you cannot transfer money from your Walmart MoneyCard account to an outside bank account. You can only receive money to your Walmart MoneyCard account from an outside bank.
Can I transfer money from outside the U.S.?
Unfortunately, you cannot transfer money from an outside bank to your Walmart MoneyCard. You only transfer money using a bank that is based in the United States.
I Did Not Receive My Unemployment Benefit Payment What Should I Do
Benefit payment information is available online through the UI Online portal.
Also, you can get information about when your last payment was issued by calling customer service.
Heres the number to call:
However, If you have not received your payment within 14 days after your weekly certification is filed, heres what you can do:
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Receiving And Activating Your Card
Q: When will I receive my debit card?If you are eligible for unemployment benefits, you should receive your debit card by mail within 7-10 business days of applying or after you request to be switched to the card. The card is issued directly from KeyBank to the address on record at the time of the request. With your card, you will receive a welcome packet that includes instructions on how to use the card. If your card does not arrive after 10 days, contact the Key2Benefits Customer Support line at 866-295-2955.
Q: How do I activate my card?Your welcome packet from KeyBank will contain the debit card, instructions and a phone number to call to activate the card.
Q: How do I set up a PIN for my card?You will be prompted to set your PIN when you call to activate your card. You can change your PIN by calling the Key2Benefits Customer Support line at 866-295-2955 or you can do it on the Key2Benefits.com website.
Q: What will the envelope look like that will contain my debit card? What should I do if I do not receive my debit card?For security, your card will come in a white, envelope with both an Employment Security Department and KeyBank Card Member Services/Sioux Falls SD return address.
Q: Where is my debit card/I haven’t received my debit card?It could take 7-10 business days from the time you requested the card to the time you receive it in the mail. If you have not received your card within 7-10 days after applying for unemployment benefits, you should do the following: