The prepaid credit card industry has exploded over the last 10 years, with what was once a fringe niche in the financial sector now taking center state as banks struggle with burdensome regulations and are trying to find new ways to earn extra fees that were once gotten from regular checking and savings accounts. Nowadays, banks like Chase, Citibank, American Express, Wells Fargo and Bank of America have all gotten in on the prepaid card action, issuing cards of various denomination and for various uses.
Eppicard Debit Card Review
The eppicard has been around for quite a while and it’s used in many states to make payment for child support. So, if you are scheduled to receive child support payments, you will get a prepaid debit card from your state, if they participate in the eppicard program. This debit card is where your child support payments are going to be deposited on the due date. If you have any questions about your payment or money deposited on card, call the child support debit card customer service number on the back of your card. You can also login online to check your balance.
Another use for the card is paying eligible recipients their unemployment benefits. Gone are the days when you have to wait for a check to arrive in the mail before you can have access to your unemployment funds. Through the eppicard program, about 23 states now issue benefits electronically, whereby the deposit the money on the card. There are obviously several benefits to doing this.
First, because the payment is made electronically, the risk of the check getting lost in the mail, delayed or stolen is eliminated because the money is put in the recipients account on the due date. This eliminates frustrations of people who have to sit and wait for their benefits. Another benefit we would like to talk about in this Eppicard Debit Card Review is the issue of money the government saves by implementing this electronic payments of benefits. Instead of mailing millions of checks through the post office, the government and states are able to save a substantial amount in postage, mail processing and management.
Electronic payments allow problems with payments to be discovered faster and addressed quickly. For example, if your unemployment or child support prepaid debit card did not arrive in your account on the due date, you can call them immediately to let them know. So, if there is theft of your money through phishing or any online fraud, they will be able to see it quickly, trace it and get your money back. Or at least the chance of getting you the money back is increased. However with checks that are mailed the USPS can drag their feed in following up on missing or stolen checks, thereby increasing the possibility that a thief may successfully take your check and cash it. Which means that everyone loses in the end.
We think the eppicard program is a step in the right direction and hope that it will be expanded into the other states that are not currently part of this great program that is saving both the government and the recipients a lot of frustration.