Wells Fargo Prepaid Cards

Reply

Old Mar 7, 13, 8:27 am
  #1261  
 
Join Date: Feb 2012
Location: Los Angles
Posts: 2,092
Originally Posted by Stoughton View Post
To supply a student/child/etc with the WFPP while someone else funds the account.
There are tons of products for them that does not cost monthly dues, a secondary credit card or debit card, everyone has it if they have a bank account, which is required to fund the Wf PP according the new policy.
prasha11 is offline  
Reply With Quote
Old Mar 7, 13, 9:06 am
  #1262  
 
Join Date: Aug 2004
Location: MGM
Programs: United Silver, PC Plat/Amb, HH Dmnd
Posts: 768
Sigh. There it is on the FAQ as well:
"Note: Effective May 1, 2013, only Wells Fargo Debit Cards and Wells Fargo Credit Cards can schedule recurring reloads or transfer funds."

Another one bites the dust. It's kind of a relief in one sense. Now I can stop worrying about whether WF will shut me down. It's full speed ahead until I crash into that May 1 wall!

Andyandy
andyandy is offline  
Reply With Quote
Old Mar 7, 13, 9:16 am
  #1263  
 
Join Date: May 2010
Posts: 2,987
Originally Posted by prasha11 View Post
There are tons of products for them that does not cost monthly dues, a secondary credit card or debit card, everyone has it if they have a bank account, which is required to fund the Wf PP according the new policy.
And? You asked and I gave you an answer.

And no, NOT everyone who uses a WFPP has to have a CC or bank aco.... with WF, or any other institution, be it today or after the new T&C take effect.
Stoughton is offline  
Reply With Quote
Old Mar 7, 13, 9:18 am
  #1264  
 
Join Date: Feb 2013
Location: PDX
Posts: 36
Originally Posted by mapenn View Post
Well dang. I've had my WFPP for a few months, but just started cautiously using it this week - testing it with a little $500 load, and $250 BB transfer. Reading the accounts in this thread of people loading & dumping the max amounts over and over again without any normal, "moderation" spending strategy...not saying that it ruined it for us, but I'm sure it raised more than a few red flags at WF.
This is not the first time this has happened, nor will it be the last.
30French is offline  
Reply With Quote
Old Mar 7, 13, 9:21 am
  #1265  
 
Join Date: Feb 2013
Location: PDX
Posts: 36
....

Last edited by 30French; Mar 8, 13 at 3:57 pm
30French is offline  
Reply With Quote
Old Mar 7, 13, 9:48 am
  #1266  
 
Join Date: Feb 2012
Location: Los Angles
Posts: 2,092
Originally Posted by punjabi2 View Post
Well, recently got in this game, haven't even received my card yet, and demise is near. I am sure this will not be the last, something else will pop up. Keeping my fingers crossed.
Right, these are fly by products and have short life, banks look for a fast buck and we want our points. There must always a win - win situation.
prasha11 is offline  
Reply With Quote
Old Mar 7, 13, 9:51 am
  #1267  
 
Join Date: Nov 2007
Location: PHX
Programs: US CP; AA LTG; HH Dia; SPG Plat; Marriott Gold
Posts: 4,309
Originally Posted by prasha11 View Post
I wonder if you have WF credit/debit card, why you need the Wf PP ?
I think it's designed somewhat to be a product that can be loaded remotely for a user who is not the one doing the loading. Like a college student whose parents want to control their monthly spending and see their charges, or add funds when they need to buy books, etc.
lkar is offline  
Reply With Quote
Old Mar 7, 13, 11:24 am
  #1268  
 
Join Date: Feb 2012
Location: Los Angles
Posts: 2,092
Originally Posted by lkar View Post
I think it's designed somewhat to be a product that can be loaded remotely for a user who is not the one doing the loading. Like a college student whose parents want to control their monthly spending and see their charges, or add funds when they need to buy books, etc.
Most college students have a 'Student checking account' and a credit card and also a 'Debit card' linked to their checking account, that does not cost a thing. The parents can transfer money from their checking account remotely online to the student's checking account, does not cost a thing. I do not see need for wf PP and pay the fees for it, the product Wf PP will die in less than a year with new policy......we the points seekers keep these products live for mutual benefits, I think all banks know it, when their objective is served they change the rules of the game in the middle of the game or shut it down, we move on to the next product, keep on churning.....
prasha11 is offline  
Reply With Quote
Old Mar 7, 13, 11:34 am
  #1269  
 
Join Date: May 2012
Posts: 478
Originally Posted by prasha11 View Post
Most college students have a 'Student checking account' and a credit card and also a 'Debit card' linked to their checking account, that does not cost a thing. The parents can transfer money from their checking account remotely online to the student's checking account, does not cost a thing. I do not see need for wf PP and pay the fees for it, the product Wf PP will die in less than a year with new policy......we the points seekers keep these products live for mutual benefits, I think all banks know it, when their objective is served they change the rules of the game in the middle of the game or shut it down, we move on to the next product, keep on churning.....
agreed. this is their nice way to shut us down.
liw5215 is offline  
Reply With Quote
Old Mar 7, 13, 3:16 pm
  #1270  
 
Join Date: Apr 2006
Posts: 1,165
Too bad this is dying. The economics of this card were pretty good. Using the UA Club Card, I was earning 6750 UA miles per month ($4500 load plus 50% bonus). The costs were:

$10 (2 $5 loads)
$3 (monthly fee)
$6.30 (9 MO's at WM at .7 each)

$19.30 for 6750 miles is $0.0028 per mile, which I'll take any day.

I don't think I'm going to continue even before the May deadline. The recent shutdowns, plus the change in funding, means the risk management folks at WF are paying very close attention to this product. WF's customer service is AWFUL for this card, and I suspect a shutdown would result in a very lengthy tie-up of funds, not worth it for another month of manufactured spending.
bangkokiscool is offline  
Reply With Quote
Old Mar 7, 13, 3:30 pm
  #1271  
 
Join Date: Jan 2008
Location: ATL/LAX
Posts: 4,867
Originally Posted by bangkokiscool View Post
I don't think I'm going to continue even before the May deadline. The recent shutdowns, plus the change in funding, means the risk management folks at WF are paying very close attention to this product. WF's customer service is AWFUL for this card, and I suspect a shutdown would result in a very lengthy tie-up of funds, not worth it for another month of manufactured spending.
FWIW, the 2nd of my 2 cards was shut down this week and the check is already in the mail ... I'll post when I get it, but hopefully it's relatively soon.
amolkold is offline  
Reply With Quote
Old Mar 8, 13, 11:17 am
  #1272  
 
Join Date: Feb 2012
Location: Los Angles
Posts: 2,092
MO at Walmart

Like to buy $1000 Money Order at Walmart using Wf PP, does $600 limit/day apply? it goes as a purchase but does it count towards weekly ATM limit?
prasha11 is offline  
Reply With Quote
Old Mar 8, 13, 11:21 am
  #1273  
 
Join Date: Dec 2005
Location: Washington, DC
Programs: BAEC Blue, Priority Club Platinum, SPG Gold, Hilton Gold
Posts: 1,706
Bummer to hear this. Only recently got it for the first time in late January and funded once. I just added my second credit card as a funding source but it won't take a charge even though I put in well under my CA limit. Is there a wait time before using the new funding source?
terpfan101 is offline  
Reply With Quote
Old Mar 8, 13, 11:38 am
  #1274  
 
Join Date: Jan 2008
Location: ATL/LAX
Posts: 4,867
Originally Posted by prasha11 View Post
Like to buy $1000 Money Order at Walmart using Wf PP, does $600 limit/day apply? it goes as a purchase but does it count towards weekly ATM limit?
1. It's $600/transaction, not day.

2. It's a pin purchase, not an ATM withdrawal.
amolkold is offline  
Reply With Quote
Old Mar 8, 13, 11:45 am
  #1275  
 
Join Date: Dec 2009
Location: BOS
Programs: AA, SPG, UA, CSP
Posts: 338
Need to hit a 5k limit in a couple of months. Do you guys think this would still be a good option (should be done before the May deadline i think)?
arsenalman is offline  
Reply With Quote

Thread Tools
Search this Thread