News & Advice
What Is MoneyPak and What Will You Use It For
The MoneyPak is not to be confused with a credit card. You don’t use it to make point of sale purchases in brick and mortar stores or gasoline stations and grocery shops. So what is MoneyPak, then? It is a product of the Green Dot Corporation, a cash card used for sending money to participating firms in a safe, convenient and no-fuss manner. You can load your prepaid cards with the MoneyPak, even those cards that are not from Green Dot. You can also add money to any PayPal account you control without going through a bank account and make same-day bills payments with it. The cash you sent is received immediately by PayPal and the companies. These include satellite and phone services and credit card payments. MoneyPak is the widest domestic cash-sharing network with more than 50,000 locations in the states across the US.
You can buy MoneyPak in major retail chains and at local stores, so you’ll never have to worry if your prepaid card runs out of load. It sells for $4.95 and you can load from $20 to $500 at most stores. If at Walmart, you can load up to $1,100. The money you load is available immediately except for some retailers (a 60-minute delay at Walgreens, 30-minute delay at RadioShack and 15-minute delay at Longs Drugs).
For reloading cards, just log on to the MoneyPak website or call them by phone and state the amount you want to load. The same procedure goes for PayPal, except that you go to the PayPal site and choose MoneyPak from the “Add Funds” bar. PayPal has a $250 per year limit on loads but you can raise this limit to $2,000 per month if you consent to give out information about yourself and if PayPal gives you a good review. When you use MoneyPak to pay bills, the money is sent to them on the same day. Check out the website of the company you paid to, to confirm payment.
The MoneyPak can be used many times with different partners until the balance reaches $0. It has no expiry date. It is considered expired when the balance runs out; it is non-reloadable and you have to buy another MoneyPak card and load it. You pay the service fee of $4.95 every time you buy a new MoneyPak. Here’s an advice to MoneyPak users that many people don’t know about. Use the funds in your card within three months from loading if you want to save money. On the 91st day after purchase, MoneyPak charges a monthly fee of $4.95. This information is not well known but it is in the T & C. Regardless of this, the MoneyPak is still a great tool to have, especially if you use PayPal and prepaid cards frequently.