Citibank Reloadable Debit Card

The Citibank reloadable debit card is an ideal option for those who are looking for a flexible way to spend without using cash. Like other reloadable debit cards, the Citibank card allows individuals (and employers) to deposit money onto the card. It can be used anywhere that MasterCard or Visa can be used. There are several advantages to these cards.

Not all debit cards require a checking account.

One of the key benefits of a reloadable debit card is that it can be far less expensive to use than other financial products and services. Many people in the United States do not have checking or savings accounts. Reloadable cards are one of the best ways to have cash available in a credit card format without using a bank account. Many people pay fees to cash their paycheck, including paycheck-cashing services. Many of these fees are avoidable when reloadable debit cards are used.

The reloadable card offered by Citibank allows an individual to deposit money onto the card from cash, another bank account, from their employer or through other means. There is a small fee for doing this, but it is usually substantially less than the fees charged by other services. For example, the Citibank MasterCard debit card allows an individual to set up direct deposit through their employer so that their paycheck deposits right onto the card.

Once the money has been deposited onto the debit card, the funds may be used as the individual determines. If the individual has a MasterCard logoed debit card the debit card can be used any place that MasterCard is accepted. This includes retailers, online, using it to pay bills, or any other method needed. Merchants accept the card the same as they would any other MasterCard.

The use of debit cards like this can be a good thing. They can be used easily and it can be very inexpensive to cash a check and load the cash into the card's balance. Yet, individuals should understand the potential fees associated with the reloadable card. Citibank's fees for their reloadable debit cards include:

• Initial: One time purchase fee of under $10
• Load Fee: There is usually no fee to load deposits onto the card
• Reload Fee from Retailer: Allows individual to reload the card at various retailer locations for under $7
• ATM Withdrawal Fee: Allows withdrawals from an ATM to get cash for the cost of the ATM Fee plus up to $2.50 which is charged by Citibank
• Overdraft Fee: A fee of up to $30 could be charged if the debit card is used over the amount of available cash on the card
• Lost Card Fee: Up to $10 could be charged if the card is lost and a replacement is necessary

Other fees may exist and these costs are estimates. Check the terms and conditions prior to using the card to be sure of all fees.

The Citibank reloadable debit card can be used in other ways, too. The key is to take advantage of this card as it fits within your lifestyle. Be sure to take into consideration the cost of using these cards.

• Use the reloadable debit card for children's spending needs, especially for college. For example, load it with a preset amount allowed to be spent per month.
• Gift as a gift. Many reloadable debit cards are given as gift cards that can be used anywhere the logo on the card (Mastercard, Visa or American Express, for example) can be used.
• Use them for specific needs each month to keep within budget. For example, determine how much is allowed to be spent on eating out for the month. Load just this amount and help keep yourself within budget.

To learn more about the various debit cards and credit cards offered by Citibank, visit the company's website. You can also learn the fees, terms and usage of these cards at the website.

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