Prepaid debit cards have similar characteristics to debit cards, except you can only use a prepaid debit card as long as you have money in your account. Emerald Card is a well-known prepaid card. Today, I answer your question – ‘How to transfer money from emerald card to my bank account’.
- How To Transfer Money From Emerald Card To My Bank Account
- Application Process Of Emerald Card
- What Is Emerald Card Benefits?
- What bank can I withdraw money from my emerald card
- How to get money from emerald card to bank account
- Why is my emerald card being declined?
- Is There Any Limitation With Emerald Cards?
- Prepaid Cards
- Add Money On Prepaid Card
- What Is The Difference Between Prepaid Cards, Debit Cards, and Credit Cards
- Final Verdict
How To Transfer Money From Emerald Card To My Bank Account
There are two ways you can move your funds from an Emerald card to your bank account. Firstly, you can submit a transfer request form to H&R Block bank.
The second way is, you can directly withdraw money from an ATM, which is a $3000 maximum limitation per day, and then deposit the money into your bank account.
For the first method, funds can be moved between Emerald Card and a bank account through Emerald savings account online. Follow the instruction to complete the procedure:
- Log in to your Emerald Card account.
- From H&R block’s website, download a transfer request form.
- The form will ask you for your personal details, like your name, phone number, social security number, and Emerald Card number.
- Follow the instructions from the card correctly and make sure to provide new details in the form.
- After you fill out the form, submit it to H&R Bank.
- After some time, you will receive a phone call for verification, and after some questions, your money will be sent to your bank account.
- As you can expect, the process would take a little longer than usual.
For the second method, just visit an AMT and withdraw the money, which has a $3,000 per day cap. If your money is more than $3,000, you will need to visit an ATM for a couple of days.
If your amount is big, you need to process the first option. But, if the amount is more minor (under $3000), just visit an ATM and directly deposit it to your bank account.
Application Process Of Emerald Card
The Emerald card lets you apply for their cards at the H&R Block tax offices and online when you are using H&R’s digital tax preparation product. You’ll need, for the application:
- A computer, laptop, or mobile phone with an internet connection.
- Your Social Security Number.
- Your personal information, like – your email address, phone number, and physical address.
- Last year’s tax refund amount.
Follow the steps to complete the application process:
- Visit H&R Block’s official website.
- Click on the ‘Emerald Card’ option, which will be able to be seen at the bottom of the page.
- A form will show up, where you will add your personal information, like social security number, email address, phone number, and so on.
- After filling out the form, click on the ‘Apply Now button.
- Provide the address where your Emerald card will be delivered.
- With the card, you can get Emerald Advance from $350-$1000, depending on your credit card scores.
What Is Emerald Card Benefits?
Those who wish to acquire H&R Block tax return advance loans may find the card really useful. The corporation makes the loans available at the start of each tax season, and the Emerald prepaid MasterCard is required to deposit the loan. The loan cannot be obtained with a cheque or direct deposit.
H&R Block provides five loan amounts: $250, $500, $750, $1,250, and $3,500. The most significant advantage of H&R Block is that their loans have a 0% APR.
We are all aware that many companies charge interest on their loans. Many are so greedy that they impose exorbitant interest rates, draining the borrowers’ finances. To qualify for the advance loans, you must file your taxes via H&R Block and pay the required costs.
Despite its importance, the Emerald card charges various fees when used as a conventional debit card. Each ATM withdrawal costs $3.00, and each balance query or decline costs $1.50. The ATM service provider may levy other fees.
If you do not use the card for 60 days, you will be charged a $4.95 monthly fee. The card issuer will also charge you a cash reloading fee of up to $4.95. You have to spend 95 cents if you are paying a bill using the card.
What bank can I withdraw money from my emerald card
You can use your Emerald prepaid card at any ATM with Maestro, Mastercard, or Cirrus band mark to withdraw money. Keep in mind some ATMs will charge you $3 to withdraw money.
Without withdrawing money to a bank account, you can also transfer the money into your bank account and then withdraw the money from there.
As you need to request for transferring funds and need to go through a little complicated process, the competition of the transaction will take some time.
Lastly, you can also receive the cash bank from the card in qualifying stores. But, for the transactions, you will need to pay charges.
How to get money from emerald card to bank account
Moving your money from Emerald’s prepaid debit card to a bank account is simple. But, before that, you need to link your bank account with the prepaid debit card.
How to send money from emerald card to bank account? You need to open the H&R block website or the mobile app for linking the accounts. Then, navigate to the ‘add bank’ option and click on it.
A form you show up asking for all the necessary details of your bank account. After you add the bank to your prepaid card, you can transfer money from bank account to prepaid card online instantly.
Why is my emerald card being declined?
There could be several reasons for your Emerald Card to be declined. It could be that your card is blocked from any activity, your card doesn’t have sufficient funds, your bank account is frozen, the card has expired, or the card limitation has been exceeded.
Among them, Emerald cards being blocked is the most common issue among cardholders.
A card being blocked from making a payment: Emerald card doesn’t support all the online platforms, and trying transactions between a few blocks can make Emerald card be blocked.
After that, if you try to make a payment, the card will decline your payment. In this case, you can talk with customer service; they will tell you if the platform works with Emerald card.
Insufficient Fund: Another common issue with payment platforms is they will decline from making a payment if they don’t have sufficient funds.
Insufficient doesn’t mean your fund goes down to zero. Your account needs to leave with a few dollars after a transaction if you want that transaction to complete successfully.
Frozen Bank Account: If your like account is frozen, no matter how much you try, you won’t be able to make a payment. And, the funny thing is, you won’t know if your linked bank account is frozen or not until you contact your card issuer.
Technical Issue with Emerald: There could be a technical issue responsible for your card not making a payment online. In that case, I would recommend you wait for a day before you make the payment.
Is There Any Limitation With Emerald Cards?
Yes, there are limitations on how much you can transfer, withdraw, and spend on the Emerald Card. The highest you can withdraw at an AMT is $3,000 per day. The card lets you withdraw a maximum of $1,000 daily for other withdrawals.
The maximum withdrawal amount of the Emerald card is much higher than other popular prepaid cards. This is one of the reasons for many users to choose the card, despite its clear disadvantages.
Anyways, the maximum amount of PIN ( POS authorization and ATM withdrawals) you can make a day is restricted to $3500. For signature transactions, the same is up to $3,500.
Prepaid cards are sometimes known as pay-as-you-go or stored-value cards. However, the fundamental premise stays the same. You purchase reloadable prepaid cards with no fees and then use it to make purchases.
Prepaid cards are often available at banks or retail establishments like grocery shops and drugstores. They either have a fixed available balance or the opportunity to add money onto the card. You can then use the card till the balance is gone. You won’t be able to make any additional purchases until you reload the card.
In some aspects, a prepaid card is similar to other types of cards. This means you may use it to make purchases by swiping or inserting it into point-of-sale systems and, in certain situations, withdraw cash from ATMs.
But, there might be a question in your mind, why use prepaid cards beside the other cards? There are many situations where a prepaid card is more helpful:
Extra Layer Of Security: The stolen prepaid cards are easy to use, but a thief can only have the amount stored in the card. However, if your debit card is stolen, the thief can overdraw an account.
Limiting Sending: Many of us have a tendency not to control our urges when we are shopping or on vacation. As you can only send the amount in the prepaid card, the card won’t let you spend more no matter what.
Checking Account Alternative: The prepaid card is the best option for those who don’t have a checking account but want the convenience of using a card.
Doesn’t Impact Your Credit: When you purchase a prepaid account, there won’t require any credit checking. So, it’s an excellent alternative for people with low credit.
Add Money On Prepaid Card
Prepaid cards need to continue adding money, as adding money is the only source for the cards. Several ways you can add money to your credit card:
- You can directly deposit money to a card account from a check or saving account.
- You can deposit funds from your paycheck.
- You can load prepaid cards at a retail location.
- You can also purchase a bundle to add a predetermined amount.
What Is The Difference Between Prepaid Cards, Debit Cards, and Credit Cards
Prepaid cards are distinguished by the fact that they are neither tied to a bank account, as a debit card is nor are they linked to a line of credit, as a credit card is.
When you use a prepaid card, you are just using the funds that have been placed onto it. You are not borrowing money, and the card has no access to any other bank accounts you may have.
If you wish to continue using an empty card, you must reload it with new money.
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Emerald Card is a prepaid debit card with many benefits. The card lets you transfer money from the card to your bank account. The transfer process is a little different than other popular cards.
You can transfer money online, but you need to first request them to transfer; then, they will contract with you, verify you, and lastly, move your money.
So, the overall process took a little extra time. That’s the answer to your question – ‘How to transfer money from emerald card to my bank account’.