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Thread: Melonie, anyone else?

  1. #1
    Pamela
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    Default Melonie, anyone else?

    I need to know about a cashpay card. I went to the site, does not help much. I don't bank at "Bank of America." Is there a fee for use?

    Tell me if anyone knows how the hell these cards work, as i may accept one as a pay. How the hell do you deposit monies off this card to you're accounts, i.e. checking/savings? Can you do it via ATM?

    Pamela

  2. #2
    Banned Melonie's Avatar
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    Default Re: Melonie, anyone else?

    Pamela, from what I've been able to find out, it would appear that the Cashpay Card is roughly equivalent to a nationally branded check card (typically Visa). From a "merchant's" standpoint, accepting payment via a Cashpay Card requires the same credit card bank merchant account and/or online credit card processing service (IBill, CCBill) that accepting a Visa credit card requires.

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    Default Re: Melonie, anyone else?

    We may be getting hung up on marketing speak, which I am convinced the true purpose of which is to disguise the function of items and things.

    I interpret cashpay card as a pre deposit fixed balance cash card, backed by a visa guarantee logo.

    Recently had experiece with the new American Express cash deposit card. Tis cartd is designed to replace the paper travelers checks at some future date. How it works is you
    deposit an amount of money in cash equivilent and the card is"loaded" for that amount in
    the AMEX data bank. When the amount is used up, it goes to zero and is worthless.

    As I was going to Costa Maya Mexico, I realized that t shirt vendors and great little Mexican
    bars on the coast probably don't have telephone connect modems to the American Express credit data bank. I would think even in a SC, if it is a busy night trying to ascertain
    if the card has any money left in it would also be cumbersome on a visa dash pay card.

    On the other hand, the club is checking credit all night on it's credit checking system so maybe its OK if the system can also check cash balance cards.

    In the end, if you can check to see the balance on it, it is probably a better deal than taking a personal check.

    The risk is that without checking it, it is worthless.

  4. #4
    Pamela
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    Default Re: Melonie, anyone else?

    Hmm i had the choice of this card or direct deposit. Or a check sent to my home once monthly.

    I chose send a check to my home once a month. I am with a new company for the most part, and don't want to take a chance with my accounts, or the cashpay card.

    Thanks you two!!!!!!
    Pamela

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