How Can I Deposit a Check To a Prepaid Card?

A check deposit entails the process of converting a paper check to usable funds. Traditionally, checks got cashed at bank branches or ATMs, but there are upcoming ways through which you can deposit a check. For anyone asking this query of can I deposit a check to a prepaid card, you are right away sorted with useful information on various methods that you can use, to load checks to a prepaid card.

Generally, prepaid cards work similarly to credit cards when you are shopping or paying bills except that you only use your own money loaded in advance to your card. You are not borrowing funds like for the case of credit cards and you don’t have to own a bank account to use them. Also, when you have exhausted all the loaded cash, you have to reload money for you to use the card.

However, you can use credit cards to pay for goods and services even when you don’t have money, unlike the prepaid cards. The credit cards for bad credit no deposit enables you to acquire money in your savings or current accounts, without making a cash security deposit. These cards provide one of the convenient accesses to funds to cater for one’s urgent financial requirements.

What Is a Prepaid Card And How Do They Work?

Can I Deposit a Check To a Prepaid Card

A prepaid card is one of the banking cards that enable you to spend the funds you load on the card. Besides, it works at any merchant accepting its payment network, for instance, a Visa or Mastercard. The card is also known as a pay as you go card and it’s convenient and safer to use than cash.

However, you can source a prepaid card from a bank, a credit card company, or get them from the store. Once you’ve received your card, you need to load money and the card companies usually avail several ways to do this. For some cards, you can link to a checking account for online transfers. You can add money through the following ways;

  • Set up direct deposit to the card
  • Cash to a retail store that can load funds to your card
  • Deposit a check with an app that is linked to your card (by taking a photo of the check)
  • Transfer money from your bank account to your prepaid card

How Does Money Transfer Using a Credit Card And a Prepaid Card Compare?

Various mobile Apps have made money transfer easy and quick. You can download the apps from your mobile and fill the required fund transfer procedure to send money from credit card to a bank account instantly. Interestingly, these apps suits both Android and iOS devices. Using your smartphone, laptop, or desktop, you can as well register in the same apps to perform an online balance transfer.

On the other hand, it takes time to transfer money from a prepaid card to a bank account using prepaid card apps. If you lack a direct deposit and you are time conscious, you can visit your card reload locations to load money from a check, and then transfer to a bank account. This process takes a fee of between $2.00 to $4.95 per check.

Pros of Using a Prepaid Card

i) No credit history required

Anybody interested in a prepaid card can since you’re not borrowing money, the card provider doesn’t check your credit score when issuing the card. This is suitable for people with poor credit scores including young adults who have not yet built up their credit history.

ii) No bank account required

Prepaid cards can stand as an alternative to a checking account. If you are unwilling to open a checking account, a prepaid card enables you to enjoy the privilege of paying using plastic money. However, prepaid cards are less costly than having a bank account and still gives you access to services such as check deposits, and online bill pay.

iii) Controls your budgeting

Since you are spending money that you don’t have, credit cards can be too tempting. However, a prepaid card can enable you to avoid debt because you are only using what you have on the card. If the funds get depleted and are not loaded onto your card, you can no longer spend it.

Cons of Using A Credit Card

i) No credit building

Prepaid cards do not enable you to build your credit history. Just like credit cards, they enable you to spend as but they don’t report to credit bureaus.

What are the ways through which you can deposit a check to a prepaid card?

1) Mobile Deposits

Some prepaid cards allow you to deposit checks by scanning them using your mobile phone. You can call and enquire from your card issuer if they support a mobile app. Most prepaid cards contain a smartphone app having a mobile deposit feature.

However, handling a mobile check deposit can go for up to 10 days. So, if you opt for same-day processing, a fee of 1% to 4% is payable. Depending on the card provider, your check may reflect immediately or take several days to mature. It’s advisable to keep the check until when you have received the amount deposited fully on your prepaid card.

Moreover, to make a mobile deposit, download your card issuer’s app from the Google Play for Android devices, App Store for iOS devices, or use an authorized third-party mobile deposit app. To initiate the deposit, indicate “for mobile deposit only” on the check below your signature. Then, visit the mobile app’s deposit camera, take an image for both the front and back of the check, and follow the prompt steps to finish the mobile deposit.

2) Ingo Money App

If your prepaid card doesn’t support a mobile check deposit using its app, you can use the Ingo Money App to deposit check online check prepaid card. Ingo Money App is usable in funding most prepaid cards, and you can deposit a check for free onto your prepaid card if you choose ten days of funds processing. Besides, you can buy an Amazon gift card using this option.

Alternatively, if you require your money urgently, Ingo charges a 2% fee for payroll and government checks,5% on all other acceptable checks, and $5 minimum charges per check. Unfortunately, Ingo’s speedy processing for small checks or personal checks is expensive. If you can wait for 10-day processing, this method turns out as the best low-cost load option.

3) In-Person and ATM Deposits

Some prepaid cards get supplied by banks with physical branches or partner with stores like Walmart to enable in-person reloads. Therefore, if your card provides in-person deposits, you can drop a check into the bank to a teller or in-store money dealer counter for deposit. What you need to do is sign the check and provide your ID plus your prepaid card.

Moreover, you can use your prepaid card to deposit a paper check at an ATM, depending on the card issuer. The following banks and card issuer provide in-person and ATM check deposits for their prepaid card customers:

4) Direct Deposit Check

Using a direct deposit is an easy way to put cash directly onto your card and it’s useful for recurring payments such as tax refunds, Social Security benefits, and paychecks. Usually, after receiving your prepaid card, the issuer most probably sent you a direct deposit form indicating your card’s routing number and account number.

However, if you lack this form, enquire from your card issuer about the same. Once you understand your routing and account numbers, provide the details to the party you’re expecting payment. You may be required to complete the payer’s direct deposit form to finish the process.

After the process is successful, the funds get deposited automatically to your prepaid card on the stipulated payment date. Additionally, once the money reaches your account, you can transfer money from checking account to prepaid card online, through logging in to the prepaid card’s website, app, or using a third party service.

5) Bank-to-Bank Transfer

One of the speedy ways for the deposit of a check is through funds being transferred to your prepaid account directly. This method of money transfer is also known as an ACH transfer. The business or the person sending you money, in this case, provides its bank with the routing and account numbers where you want the funds deposited. Once the information gets verified, the concerned party can transfer money using the routing number and account number to your prepaid account.

Bottom line

To deposit a check to a prepaid card is not as complicated as it used to be back in the days. Nowadays, there are several ways you can make the funds available in your prepaid card hassle-free, as clearly discussed in this article. We’ve done extensive research for each of the above deposit method details. The discussion is according to the prepaid card issuers consultation, so if you are looking for a prepaid card, you got the right information.