May 29, 2014, 7:43 pm
Last edit by: prasha11
Does not work anymore, is dead..... what is the point to report 'not working'?
As of 08/25/2014, Bancorp cards (Vanilla Visa, OneVanilla, etc.) are rarely working first try for debit transactions at Walmart. There is no apparent geographical basis. Basically, it's a crapshoot.
Do not agitate a cashier or store and lose the ability to make these transactions in the future. Multiple failed swipes or transactions will likely increase scrutiny. You do not want that. It is best to stop using these cards.
Vanilla VISA defaulting to credit
As of 5/29/2014, at most Walmart locations, all Vanilla VISA cards issued by The Bancorp Bank are automatically recognized as credit. Most Mastercard have required a workaround for some time. The MoneyCenter Express (ATM, kiosk, Kate) is not affected by this change.
As of 08/25/2014, Bancorp cards (Vanilla Visa, OneVanilla, etc.) are rarely working first try for debit transactions at Walmart. There is no apparent geographical basis. Basically, it's a crapshoot.
Do not agitate a cashier or store and lose the ability to make these transactions in the future. Multiple failed swipes or transactions will likely increase scrutiny. You do not want that. It is best to stop using these cards.
Vanilla VISA defaulting to credit
As of 5/29/2014, at most Walmart locations, all Vanilla VISA cards issued by The Bancorp Bank are automatically recognized as credit. Most Mastercard have required a workaround for some time. The MoneyCenter Express (ATM, kiosk, Kate) is not affected by this change.
MO Purchases using OV @ WM
Jun 21, 2014, 12:59 am
#1638
Suspended
Join Date: May 2012
Location: ORD
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Jun 21, 2014, 1:12 am
#1640
Join Date: Dec 2013
Posts: 43
Jun 21, 2014, 1:36 am
#1641
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Maybe you should just call Bancorp 10 times to get an answer, as you suggested someone do w Citi. That way you will know for sure
Jun 21, 2014, 1:52 am
#1642
Join Date: Dec 2008
Posts: 367
I share the dominant sentiment on this thread that the professionals should keep all information about manufactured spending off this thread. Personally I have many secret MS avenues that are enormously profitable, but I'm not going to share them publicly with newbies, amateurs, semi-pros and bloggers with bowties. If you're a certifiable money churner, then feel free to PM me, and I'll review your credentials.
Jun 21, 2014, 1:59 am
#1643
Join Date: Aug 2013
Location: Phoenix, AZ
Programs: US/AA, UA, AS, BA, IHG, HGP
Posts: 223
Jun 21, 2014, 2:29 am
#1644
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
I share the dominant sentiment on this thread that the professionals should keep all information about manufactured spending off this thread. Personally I have many secret MS avenues that are enormously profitable, but I'm not going to share them publicly with newbies, amateurs, semi-pros and bloggers with bowties. If you're a certifiable money churner, then feel free to PM me, and I'll review your credentials.
.
Jun 21, 2014, 2:31 am
#1645
Suspended
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Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
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Jun 21, 2014, 3:21 am
#1646
Join Date: Feb 2012
Location: Los Angles
Posts: 2,101
Originally Posted by Yossarian147 View Post
What guarantees the value on the card though? OVs and gift cards are not FDIC insured. What happens if Bancorp goes under?
Bancorp is a member of FDIC, VG and OV are fixed value cards, has implied product - purchased value guaranty. MyVanilla is re-loadable (withdrawals and deposits) falls in different category, similar to bank accounts.
What guarantees the value on the card though? OVs and gift cards are not FDIC insured. What happens if Bancorp goes under?
Jun 21, 2014, 5:18 am
#1647
Original Member
Join Date: May 1998
Posts: 1,139
The issuer of such a card is under incredible regulatory activity, like daily physical monitoring. They have to maintain a ratio of cash to liabilities ( such as the cards) that allows them to honor all card charges with a lot left over.
If they get even close to violating those ratios, one night (literally during the night) the regulators force a transfer of the assets and liabilities to a competitor who is willing to do the purchase. The competitor is willing to do the purchase because the publicity surrounding a "default" on prepaid cards would destroy the entire industry.
I have been trying to decide whether to buy some Bancorp stock. As always, I think the market overreacted to the press release, although it already got a little jump since the bad news. My hesitation is that it is likely that there will be a large decrease in the purchases of Vanillas as a result of this WalMart liquidation issue. MSers are their lowest profit margin clients but likely effectively make up a large portion of their revenue from these cards.
The common person who these cards were designed for just does not buy several $500 cards a day. I doubt that the market will understand that any drop in the purchase of Bancorp gift cards came from MSers with no access to nearby grocery store shifting their purchases to US Bank and Metabank gift cards.
Jun 21, 2014, 7:09 am
#1648
Join Date: Apr 2014
Posts: 1,273
I gave you the answer, however it is better to teach one how to fish than to give a fish. I even told you how to find it, google search....the rest is up to you. I do not believe in spoonfeeding...not even babies and small children
Maybe you should just call Bancorp 10 times to get an answer, as you suggested someone do w Citi. That way you will know for sure
Maybe you should just call Bancorp 10 times to get an answer, as you suggested someone do w Citi. That way you will know for sure
Jun 21, 2014, 7:15 am
#1649
Join Date: Apr 2014
Posts: 1,273
It does not really matter if the cards are directly FDIC insured.
The issuer of such a card is under incredible regulatory activity, like daily physical monitoring. They have to maintain a ratio of cash to liabilities ( such as the cards) that allows them to honor all card charges with a lot left over.
If they get even close to violating those ratios, one night (literally during the night) the regulators force a transfer of the assets and liabilities to a competitor who is willing to do the purchase. The competitor is willing to do the purchase because the publicity surrounding a "default" on prepaid cards would destroy the entire industry.
I have been trying to decide whether to buy some Bancorp stock. As always, I think the market overreacted to the press release, although it already got a little jump since the bad news. My hesitation is that it is likely that there will be a large decrease in the purchases of Vanillas as a result of this WalMart liquidation issue. MSers are their lowest profit margin clients but likely effectively make up a large portion of their revenue from these cards.
The common person who these cards were designed for just does not buy several $500 cards a day. I doubt that the market will understand that any drop in the purchase of Bancorp gift cards came from MSers with no access to nearby grocery store shifting their purchases to US Bank and Metabank gift cards.
The issuer of such a card is under incredible regulatory activity, like daily physical monitoring. They have to maintain a ratio of cash to liabilities ( such as the cards) that allows them to honor all card charges with a lot left over.
If they get even close to violating those ratios, one night (literally during the night) the regulators force a transfer of the assets and liabilities to a competitor who is willing to do the purchase. The competitor is willing to do the purchase because the publicity surrounding a "default" on prepaid cards would destroy the entire industry.
I have been trying to decide whether to buy some Bancorp stock. As always, I think the market overreacted to the press release, although it already got a little jump since the bad news. My hesitation is that it is likely that there will be a large decrease in the purchases of Vanillas as a result of this WalMart liquidation issue. MSers are their lowest profit margin clients but likely effectively make up a large portion of their revenue from these cards.
The common person who these cards were designed for just does not buy several $500 cards a day. I doubt that the market will understand that any drop in the purchase of Bancorp gift cards came from MSers with no access to nearby grocery store shifting their purchases to US Bank and Metabank gift cards.
Jun 21, 2014, 7:16 am
#1650
Join Date: Sep 2013
Location: Warm, sunny Florida
Posts: 251
I suspect you're right. Similar to what we're facing in the medical industry. Insurers are cutting reimbursements all around so you need to make it up with volume. Once that volume dries up though...
It does not really matter if the cards are directly FDIC insured.
The issuer of such a card is under incredible regulatory activity, like daily physical monitoring. They have to maintain a ratio of cash to liabilities ( such as the cards) that allows them to honor all card charges with a lot left over.
If they get even close to violating those ratios, one night (literally during the night) the regulators force a transfer of the assets and liabilities to a competitor who is willing to do the purchase. The competitor is willing to do the purchase because the publicity surrounding a "default" on prepaid cards would destroy the entire industry.
I have been trying to decide whether to buy some Bancorp stock. As always, I think the market overreacted to the press release, although it already got a little jump since the bad news. My hesitation is that it is likely that there will be a large decrease in the purchases of Vanillas as a result of this WalMart liquidation issue. MSers are their lowest profit margin clients but likely effectively make up a large portion of their revenue from these cards.
The common person who these cards were designed for just does not buy several $500 cards a day. I doubt that the market will understand that any drop in the purchase of Bancorp gift cards came from MSers with no access to nearby grocery store shifting their purchases to US Bank and Metabank gift cards.
The issuer of such a card is under incredible regulatory activity, like daily physical monitoring. They have to maintain a ratio of cash to liabilities ( such as the cards) that allows them to honor all card charges with a lot left over.
If they get even close to violating those ratios, one night (literally during the night) the regulators force a transfer of the assets and liabilities to a competitor who is willing to do the purchase. The competitor is willing to do the purchase because the publicity surrounding a "default" on prepaid cards would destroy the entire industry.
I have been trying to decide whether to buy some Bancorp stock. As always, I think the market overreacted to the press release, although it already got a little jump since the bad news. My hesitation is that it is likely that there will be a large decrease in the purchases of Vanillas as a result of this WalMart liquidation issue. MSers are their lowest profit margin clients but likely effectively make up a large portion of their revenue from these cards.
The common person who these cards were designed for just does not buy several $500 cards a day. I doubt that the market will understand that any drop in the purchase of Bancorp gift cards came from MSers with no access to nearby grocery store shifting their purchases to US Bank and Metabank gift cards.