MyVanilla Prepaid Card places certain limits on the card, that are either equal to or higher than the standard limits amongst other cards. In the event that you cancel your card, you can receive the remaining balance through check, after a fee of $9.95 is deducted. No surcharge fee is levied if cash is withdrawn from an ATM under the MoneyPass network.Ī few other fees charged by MyVanilla Prepaid Card include a dormancy, or inactivity fee, that is if your card remains inactive for 90 days, a fee of $3.95 is charged. Thus, if you make more than 10 purchases in a month, using the MyVanilla Card, the transaction fee will cost you more than the monthly ones.įor ATM cash withdrawals, a fee of $1.95 is charged, along with any surcharge charged by the owner/operator of the ATM. Additionally, some companies allow you to waive this fee. The average monthly fee on prepaid cards, we found, was $5. However, there are still some better prepaid card services that work on monthly plans that cost less, overall. This fee is less, compared to most transaction fee-based cards. My Vanilla Card FeesĪs noted above, the MyVanilla Card charges a transaction fee of $0.50 on every purchase, but there are no monthly or activation fees. In a nutshell, it’s a hit-or-miss feature, depending on the customers’ preference. Thus, while cash withdrawal from ATMs is not completely free, it is still cheaper than cards not offering a fee-free network. However, if the ATM is under the MoneyPass network, no operator fee is charged. The MyVanilla Prepaid Card charges a fee of $1.95 for ATM withdrawals, even on ATMs that are within its network. Keep a track of your account balance, transaction history, and mobile check deposits, conveniently through the MyVanilla Mobile App. Receiving customizable alerts via text messages or emailĪdditionally, it also offers the following services: Mobile App.Some of the features it offers to the consumers include, but are not limited to: Does that imply that the MyVanilla Prepaid Card is the best option in the market? Perhaps yes, if your card is used for infrequent purchases.Īs far as features are concerned, the MyVanilla Prepaid Card offers the standard affair. There are no monthly plans offered by MyVanilla currently.Ĭompared to ‘pay-as-you-go’ plans of other companies, the transaction fees charged by MyVanilla amount to half of those charged by other companies. Other popular cards, such as Netspend Prepaid Visa or the Brink’s MasterCard, offer the option of both, a ‘pay-as-you-go’ plan which charges a purchase fee and a monthly fee plan without any purchase fee. MyVanilla is not the sole prepaid card provider that charges a transaction fee. MyVanilla Prepaid Visa Card deducts $0.50 from your balance, every time you make a purchase. One of the pros of owning a MyVanilla Card is that you don’t have to pay a monthly fee, the con being that a fee is charged on each purchase. Even though the market of prepaid cards that charge based on purchases is shrinking, MyVanilla Prepaid Visa Card not only provides this service, it charges comparatively lesser transaction fees.
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