PayPower Switching to MasterCard
UPDATE- Please see updated posted.
Our buddy Boris from PointsU gave us a heads up about PayPower switching from Visa to MasterCard.
It looks like Visa is taking another hit (i.e. not landing Costco, Walmart fiasco, etc.), albeit a minor one. PayPower has been issuing Visa cards, which will be switching to MasterCard.
Key Dates
Below are the keys dates to keep in mind:
- November 28, 2016 – PayPower Reloadable Mastercards become available for purchase in-store
- December 15, 2016 – The last day to purchase PayPower Visa cards and Reload Packs
- January 11, 2017 – The last day that PayPower Visa reload and registration functionality will cease
- March 22, 2017 – The last day that PayPower Visa cards will continue to be accepted.
How it Works
PayPower offers a re-loadable prepaid card, that does not require any credit card and does not charge any interest. All you have to do is apply for a card online. Once you receive you card, you can reload your card at a cash register or online. The funds will be applied instantly.
Fee Structure
| Limits | Express Member | Select Member |
| Maximum card balance | $1,000 | $10,000 |
| Daily maximum Reload Limit | $1,000 | $2,500 |
| Monthly maintenance fee | $4.95 starts after upgrade | $4.95 starts after activation |
| Purchase fee online/store | None | None |
| ATM withdrawal limit | $100 per week | $400 per day / $1000 per week |
- Posted by Matt
- in PayPower
- 24 comments
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