Brinks Prepaid Mastercard gives you the peace of mind you deserve while securing your money. You might be wondering how does this even happen, well let us get into the article to find out more about the Brinks prepaid master card and how it works. This article has in detail all you need to know.
How Does Brinks Prepaid Mastercard Works?
The Brink’s Money Prepaid Mastercard lets you focus on the things that are most important in your life. Here’s how it works:
To order a Card, provide your name, mailing address, and email address. You’ll receive a Card in the mail within 7-10 business days. (Residents of the State of Vermont are ineligible to open a Card Account).
Once your card arrives in the mail, activate your Card, and verify your identity1 with your name, address, date of birth, and government ID number. Call its automated, toll-free number 1 (877) 788-9067, or click the link below and activate it online.
Add Money to Your Card Account
Here are some of the ways to add money to your Card Account once you’ve activated your Card and verified your identity.1
Enroll in Direct Deposit to have your paycheck or government benefits onto your Card Account
Transfer money2 to and from another Brink’s cardholder
Highlights of Brinks Prepaid Mastercard
Brink’s gives you the peace of mind you deserve. Securing cash and valuables since 1859.
With Brink’s Direct Deposit, you can get paid faster than a paper check.
No late fees or interest charges because this is not a credit card.
Use the Brink’s Money Prepaid Mobile App to manage your Card Account on the go and enroll to get a text message or email alerts (Message & data rates may apply.)
Card activation and identity verification required. Terms and Fees Apply. A card issued by Republic Bank & Trust Company, Member FDIC.
Brinks Prepaid Mastercard Tax Refund
Get a Tax Refund: Faster than a Paper Check when you E-File and use Direct Deposit
Here’s how to have your tax refund direct deposited to a Brink’s Money Prepaid Mastercard.
Best prepaid Mastercard for flexibility
Rewards rate: 1X points on signature purchase transactions; additional points on select limited-time merchant offers
Monthly fee: $0 to $9.95 (depending on plan option)
Card purchase fee: $0
Purchase transaction fee: $0 to $1.50 (signature and PIN)
ATM cash withdrawal fee: $2.50 per transaction (50 cents for ATM balance inquiry)
Card reload fee: Up to $3.95
Early direct deposit? Yes (up to two days before payday)
Additional savings account included? Yes (5 percent APY on up to a $1,000 balance)
If you’ve decided a prepaid credit card is the perfect payment choice but you might not use it often enough to justify a monthly fee, then the Brink’s Prepaid Mastercard and its “pay-as-you-go” plan could be a great fit.
The Brink’s prepaid card is issued by Netspend and carries a nearly identical structure to the Netspend® Visa® Prepaid Card—down to the rewards, fees, and most benefits.
However, Visa cards tend to offer more perks on base cards than Mastercard credit cards, and the Brinks Prepaid is also missing Netspend’s virtual card number and additional savings account banking options.
While Brink’s Prepaid Mastercard is a solid option, you can find better rewards and fewer fees with other prepaid credit cards or debit cards.
Brink’s Prepaid Mastercard delivers the same opt-in Payback Points rewards program as other Netspend prepaid cards, but Brink’s program is called Brink’s Money Payback Points.
The redemption options can be valuable, but the point values and higher-yield reward opportunities are a bit foggy unless you already have an account.
You’ll earn 1 Payback Point per dollar on signature purchase transactions (just select “credit” on the keypad at checkout), minus your purchase fees.
However, you may be able to earn bonus points at a higher rate if you take advantage of additional limited-time, merchant-specific offers in your Online Account Center.
Luckily, these reward opportunities can easily fit into your regular spending since they are personalized around your purchases. These additional offers are similar to card-linked reward programs, like Amex Offers or Chase Offers.
Along with card spending, your most sizable reward opportunities are unlimited $20 referral bonuses if your referee loads at least $40 to their card.
Points can be redeemed for cash back in the form of account credits, but you must log in to the Online Account Center or mobile app to see your other reward choices.
Fee waivers and merchant offers have also been available in the past, so be sure to check your account every now and then for valuable opportunities.
How Much are Points Worth?
Because the Payback Points program’s terms are a bit vague, it’s difficult to tell the exact point value. When it comes to rewards cards centered around cashback on everyday purchases, you typically want your points to be worth at least 1 cent apiece for a 1 percent cash return.
It may be worth looking into another prepaid credit card with a more straightforward redemption option, such as cashback. For example, the American Express Serve® Cash Back prepaid card earns unlimited 1 percent cash back on all purchases in exchange for a $7.95 monthly fee.
Benefits of Brinks Prepaid Mastercard
Surprisingly for a security brand, the Brink’s card doesn’t offer any of the additional account security features you’ll find with its Netspend cousins. In fact, it’s missing Netspend’s virtual card number benefit for safer online shopping.
This is worth considering since prepaid cards don’t enjoy as many federal protections as debit and credit cards do.
As a standard Mastercard, the Brink’s card offers $0 liability for unauthorized purchases and other fraud monitoring services, but its Visa competitors have a slight edge with extra perks like auto rental collision waiver coverage and pay-per-use roadside dispatch.
Still, the card offers a two-day early direct deposit and a decent portfolio of handy Netspend benefits if you’re a Brink’s Preferred Benefits cardholder (load qualifying direct deposits of at least $500 in one month to be eligible).
$10 purchase cushion: Prepaid cards operate like debit cards in that you can’t spend beyond your card’s balance.
But if you’re a Brink’s Preferred Benefits cardholder, the issuer may give you up to a $10 negative balance as a courtesy, offering some wiggle room if you’re in a pinch.
Optional savings account (up to 5.00 percent APY): Brink’s Preferred Benefits members may choose to open an optional FDIC-insured saving account with Republic Bank & Trust Company.
The account earns a whopping up to 5.00 percent APY, but only up to a tiny $1,000 balance (4.91 percent variable interest rate). Above that, the APY drops to 0.50 percent (0.49 percent variable interest rate), which isn’t a terrible rate considering the current average APY.
Personalized prescription discounts: You can receive up to 50 percent discounts on prescriptions with major pharmacies with a printable discount card if you choose to join the medical discount plan provider location service included with your card.
Rates and fees of Brinks Prepaid Mastercard
As far as rates and fees go, Brink’s Prepaid Mastercard is virtually identical to the Netspend Prepaid Visa. If you choose the pay-as-you-go plan, it’ll be hard to maneuver without tripping over a fee.
Each purchase will cost $1.50, but the $9.95 monthly plan may save you money depending on how often you’ll use your card.
The best move by far is to accept the reduced monthly plan as a Brink’s Preferred Benefit member, which requires $500 in qualifying direct deposits each month. This drops your monthly plan to $5—a fee similar to other prepaid cards.
Unfortunately, your balance will be constantly nibbled into by the cast of fees that usually come with prepaid cards. There’s no upfront card purchase fee, but you’ll have to pay up to $3.95 just to reload your card’s cash balance.
You’ll also experience a $3 Over-the-Counter (OTC) cash withdrawal fee at financial institutions like banks or a 2.75 percent fee of the total withdrawal at in-network reload locations (or $4, whichever is greater). Domestic ATMs only charge a $2.50 withdrawal fee.
It’s hard to steer clear of these fees, especially considering the list of situational costs like a 4 percent foreign transaction fee, $5.95 90-day inactivity fee, and even a $4.95 fee for a custom picture on your card.
Unless you’re dedicated to a prepaid card, alternative options might be cheaper.
Bankrate’s Take—Is the Brink’s Prepaid card worth it?
The Brink’s Prepaid Mastercard is a solid prepaid credit card that offers a bit more flexibility than some competitors with its pay-as-you-go plan and $10 negative balance cushion.
However, its rewards program is confusing, and like most other prepaid cards, it poses a few fee-harvesting traps. As such, your money may go a bit further with a debit or credit card.
Pros and Cons of Brinks Prepaid Mastercard
Brinks prepaid Master card has it pros and cons which you might want to look out for before starting a membership with them.
130,000+ locations in the Netspend reload network
Pay-as-you-go plan offers flexibility with individual purchase fees instead of monthly fees
Shares valuable Netspend benefits, like a $10 courtesy cushion
Long list of fees make pay-as-you-go expensive
Nearly identical to the Netspend Visa Prepaid Card
Doesn’t build credit and no additional security measures with Brink’s
After reading all this detailed information you might be asking yourself some question and making some decision on getting a membership.
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