Browsing the giftcard rack at my local Safeway store recently, I came across a new type of prepaid card on the market: Green Dot Cash Reload. They were stacked next to the Green Dot prepaid cards. Green Dot Cash Reloads are similar to Moneypaks, except they can only be loaded onto Green Dot prepaid cards. The Green Dot website even has a warning about using the correct card and offers a refund if you’ve purchased the wrong one, along with instructions on getting a refund.
Green Dot Cash Reload cards can be purchased in $500 increments for a $4.95 fee. They can only be loaded onto Green Dot prepaid cards. Prepaid cards can be loaded up to $2,500 per day and come with a $5.95 monthly fee. However, this is waived if you load at least $1,000 during each billing cycle. For a full list of fees, click here.
The package does say “Cash only”. However, that is also the case with Reloadit cards and plenty of people (myself included) are able to buy them with a credit card at a major grocery chain.
If you’re able to buy them with a credit card that pays out grocery category bonuses, this could be lucrative. I will personally continue to purchase Reloadit cards instead. They come in increments of $950 with a $3.95 fee, so they work out cheaper.
Have you come across Green Dot Cash Reload cards? Are you using them as part of your manufactured spending strategy?
