Mar 3, 2014, 9:28 am
Last edit by: uncommonsensical
“My Vanilla Personal Reloadable Prepaid Debit Visa card”
https://www.myvanilladebitcard.com
FAQs: https://www.myvanilladebitcard.com/myvanilla/faq.html
T&C: https://www.myvanilladebitcard.com/m...Policy_ENG.pdf
Fees: https://www.myvanilladebitcard.com/m...RhFOmbp3hiKogJ
There isn't a bill pay function with MVD.
How do I load funds onto MVD? There are two primary ways to load funds onto your MyVanilla Card: 1) Direct Deposit (direct deposit all or part of your paycheck, social security, even your tax return refund right onto your MyVanilla Card); 2) At any Vanilla Reload Network retailer; just bring your Card and the amount you want to load onto your Card - Note: This can be either purchasing a Vanilla Reload card or possibly using a retailer with loading function on the cash register such as CVS. $3.95 fee applies to both methods.
CVS Credit Card Load Data Points:
Credit Cards used treated as a purchase:
FIA Fidelity Amex
Credit Cards used treated as a cash advance:
??
What is the load limit? You can load a maximum of $500.00 per day onto your Card, and there is a $2,500.00 total maximum deposit limit per day from all deposit sources (loads and ACH direct deposits). The daily ATM withdrawal limit is $400.00. The daily Cash Advance or "Over the Counter" limit at a bank is reported as $2,500.00/day. Some reports that this is actually / month. Maximum loaded amount on MVD card is $9,999.
If you can find Vanilla Reload cards that you can purchase with a credit card, max out by getting up to 3 registered MyVanilla Debit cards and you can load up to $2500 x 3 per day. And if you have a bank near you that will give you cash advances, you can take the full balance off each card for a $1.95 cent fee.
If you do not have Vanilla Reloads available near you, you want to find a bank that will allow you to cash out temporary cards. These are the ones you buy at CVS for $500 plus $3.95 fee and then cash them out en masse for a 50 cash advance fee apiece.
In Essence
Get new cards, spend some random amount and then get put in shutdown mode to spend off what is left, unless you utilize one old weird trick that prevents shutdown mode.
Liquidating a shut down account as of 3.31.2014
Various reports, and I can also confirm- If you receive the "invalid username or password" message when trying to access your account online, that's the indicator that you have been shut down. Check again for a day or so (just to make sure it wasn't an issue with their website). If still unable to access- you've been shut down.
If you don't want to call and talk to them, you can confirm yourself whether your account is still alive to liquidate by calling 855.686.9513. If you are able to hear your balance, you can liquidate- and you can liquidate quickly without any problem. I liquidated $8,200 over the weekend: 5k Saturday, the remainder Sunday (Walmart BillPay and MO).
https://www.myvanilladebitcard.com
FAQs: https://www.myvanilladebitcard.com/myvanilla/faq.html
T&C: https://www.myvanilladebitcard.com/m...Policy_ENG.pdf
Fees: https://www.myvanilladebitcard.com/m...RhFOmbp3hiKogJ
There isn't a bill pay function with MVD.
How do I load funds onto MVD? There are two primary ways to load funds onto your MyVanilla Card: 1) Direct Deposit (direct deposit all or part of your paycheck, social security, even your tax return refund right onto your MyVanilla Card); 2) At any Vanilla Reload Network retailer; just bring your Card and the amount you want to load onto your Card - Note: This can be either purchasing a Vanilla Reload card or possibly using a retailer with loading function on the cash register such as CVS. $3.95 fee applies to both methods.
CVS Credit Card Load Data Points:
Credit Cards used treated as a purchase:
FIA Fidelity Amex
Credit Cards used treated as a cash advance:
??
What is the load limit? You can load a maximum of $500.00 per day onto your Card, and there is a $2,500.00 total maximum deposit limit per day from all deposit sources (loads and ACH direct deposits). The daily ATM withdrawal limit is $400.00. The daily Cash Advance or "Over the Counter" limit at a bank is reported as $2,500.00/day. Some reports that this is actually / month. Maximum loaded amount on MVD card is $9,999.
If you can find Vanilla Reload cards that you can purchase with a credit card, max out by getting up to 3 registered MyVanilla Debit cards and you can load up to $2500 x 3 per day. And if you have a bank near you that will give you cash advances, you can take the full balance off each card for a $1.95 cent fee.
If you do not have Vanilla Reloads available near you, you want to find a bank that will allow you to cash out temporary cards. These are the ones you buy at CVS for $500 plus $3.95 fee and then cash them out en masse for a 50 cash advance fee apiece.
In Essence
Get new cards, spend some random amount and then get put in shutdown mode to spend off what is left, unless you utilize one old weird trick that prevents shutdown mode.
Liquidating a shut down account as of 3.31.2014
Various reports, and I can also confirm- If you receive the "invalid username or password" message when trying to access your account online, that's the indicator that you have been shut down. Check again for a day or so (just to make sure it wasn't an issue with their website). If still unable to access- you've been shut down.
If you don't want to call and talk to them, you can confirm yourself whether your account is still alive to liquidate by calling 855.686.9513. If you are able to hear your balance, you can liquidate- and you can liquidate quickly without any problem. I liquidated $8,200 over the weekend: 5k Saturday, the remainder Sunday (Walmart BillPay and MO).
My Vanilla debit
Jan 19, 2014, 2:16 pm
#2401
Join Date: Sep 2005
Location: CVG
Programs: AAdvantage, Delta Skymiles, CapOne Venture, Citi ThankYou
Posts: 486
Jan 19, 2014, 3:59 pm
#2402
Join Date: Oct 2013
Posts: 9
Jan 19, 2014, 4:30 pm
#2403
Join Date: Feb 2001
Location: Ann Arbor, Michigan
Programs: Airline Free Agent, Fairmont Lifetime Platinum, Hyatt Globalist, Hilton Honors Diamond
Posts: 3,041
Jan 19, 2014, 5:00 pm
#2404
Join Date: Oct 2004
Location: BZN
Programs: AA:LT Platinum DL:LT Gold UA:1P MAR:LT Titanium
Posts: 8,291
I'm drawing the conclusion that loading is the trigger. Multiple reports of automatic shutdown in the middle of loading multiple cards. (happened to me). I think they've drawn the simple conclusion that poor people do not load $500 at a time only MS do.
Stupidly they should simply control this, by say dropping the daily load max to say $200, rather than these mass closings.
Stupidly they should simply control this, by say dropping the daily load max to say $200, rather than these mass closings.
Jan 19, 2014, 5:30 pm
#2405
Join Date: Feb 2012
Location: Los Angles
Posts: 2,101
Don't go over $2K per CA and do no more than one or two per month. Load slowly, leave the $ in there for a few days at least before CAing. Be sure to do some "regular" swipes at least once or twice per month (min one per CA is my rule). I'm still going strong with several cards this way. Will see how long it lasts.
They don't care if you're poor or not; they care if they make a profit (as they should, and as they're entitled to do). Aggressive loading *without* withdrawals means the money sits in the account and they make interest. Even at today's rates, $2K sitting idle for a couple weeks is worth something to them. Fee-generating transactions are also profitable for them. Loading a lot and letting it sit, making a fee-generating transaction or two, then drawing down slowly is profitable for them and can still be achieved via MS. Loading aggressively and then taking it all back out within a day is not.
Read 161 pages and 2400 posts
At the end of the day, another one bites the dust!
Jan 19, 2014, 6:25 pm
#2406
Join Date: Aug 2011
Location: SFO/SJC
Programs: MR,UR, UA, BA, AA, Hotels
Posts: 581
What you write is logical but plenty of posts contradict this in practice.
Plus this theory requires Incomm to be cut throat bankers measuring the float and maximizing it. Reality is they are far, far less competent than this. Banks make money on the float by lending it. Bancorp/Incomm don't have a lending arm as far as I know.
Plus this theory requires Incomm to be cut throat bankers measuring the float and maximizing it. Reality is they are far, far less competent than this. Banks make money on the float by lending it. Bancorp/Incomm don't have a lending arm as far as I know.
They don't care if you're poor or not; they care if they make a profit (as they should, and as they're entitled to do). Aggressive loading *without* withdrawals means the money sits in the account and they make interest. Even at today's rates, $2K sitting idle for a couple weeks is worth something to them. Fee-generating transactions are also profitable for them. Loading a lot and letting it sit, making a fee-generating transaction or two, then drawing down slowly is profitable for them and can still be achieved via MS. Loading aggressively and then taking it all back out within a day is not.
Jan 19, 2014, 7:16 pm
#2407
Join Date: Feb 2012
Location: Los Angles
Posts: 2,101
What you write is logical but plenty of posts contradict this in practice.
Plus this theory requires Incomm to be cut throat bankers measuring the float and maximizing it. Reality is they are far, far less competent than this. Banks make money on the float by lending it. Bancorp/Incomm don't have a lending arm as far as I know.
Plus this theory requires Incomm to be cut throat bankers measuring the float and maximizing it. Reality is they are far, far less competent than this. Banks make money on the float by lending it. Bancorp/Incomm don't have a lending arm as far as I know.
The bank rate (Federal reserve lending to banks) is almost '0'% interest
Banks do not pay any interest on savings accounts/CDs.
I have '0'% offer on every credit card!
Money has no value.
'Floats' has no significance in today's economy!
Jan 19, 2014, 7:20 pm
#2408
Join Date: Oct 2004
Location: BZN
Programs: AA:LT Platinum DL:LT Gold UA:1P MAR:LT Titanium
Posts: 8,291
"Banks make money on the float by lending it?"
The bank rate (Federal reserve lending to banks) is almost '0'% interest
Banks do not pay any interest on savings accounts/CDs.
I have '0'% offer on every credit card!
Money has no value.
'Floats' has no significance in today's economy!
The bank rate (Federal reserve lending to banks) is almost '0'% interest
Banks do not pay any interest on savings accounts/CDs.
I have '0'% offer on every credit card!
Money has no value.
'Floats' has no significance in today's economy!
Last edited by mooper; Jan 19, 2014 at 7:25 pm
Jan 19, 2014, 7:37 pm
#2409
Join Date: Oct 2004
Location: BZN
Programs: AA:LT Platinum DL:LT Gold UA:1P MAR:LT Titanium
Posts: 8,291
Except that there are many of us who are doing precisely that, but also generating modest debit purchase fees, not CAing over $2K a pop nor too frequently, and letting the $ float a while before unloading. And our accounts keep on keepin' on. May not last forever, but it's the working mix right now.
Jan 19, 2014, 8:17 pm
#2410
Join Date: Sep 2005
Location: CVG
Programs: AAdvantage, Delta Skymiles, CapOne Venture, Citi ThankYou
Posts: 486
I recently made a $4996 tax payment, so with processing fee just under $5k. The cardholder agreement still says max $5k/day of purchases: https://www.myvanilladebitcard.com/m...agreement.html
https://www.myvanilladebitcard.com/m...Policy_ENG.pdf
I guess I can try more than 3k.
Jan 22, 2014, 10:56 am
#2411
Join Date: Nov 2011
Posts: 450
If bank you do CA at asks for SSN and occupation, is that for an SAR? First bank to do it on me as I've been going to several different banks/credit unions and none have done that to date. Only did $1450 for this transaction in question.
Jan 22, 2014, 12:34 pm
#2413
Join Date: May 2013
Posts: 54
I've had one card that has been pretty dormant for months. I loaded $2k this month and cash advanced all but 20 bucks out... now I'm in spend down status.
I guess we already knew they didn't like cash advances, but this was a pretty quick shutdown.
I guess we already knew they didn't like cash advances, but this was a pretty quick shutdown.
Jan 22, 2014, 12:35 pm
#2414
Join Date: Mar 2007
Location: GA
Programs: SPG Gold
Posts: 186
strange... do you bank with them?
Jan 22, 2014, 12:49 pm
#2415
Join Date: Aug 2013
Posts: 164
5/3 Bank asks me for my occupation on occasion. They tell me it automatically pops up in their system. I suspect it is just to verify that you are the one depositing into your account. I don't think it is SAR. I do CA there weekly, and they are always cheerful. I asked the branch manager point blank if my "strange CAs" cause them problems - he said "no, we actually do 6-10 CA transactions each week."