Online Banking

How to Use an Amex Serve Card Like a Checking Account

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Prepaid debit cards from American Express (Amex) are available with online account access, no credit check, and fee waivers. One of the three Serve cards you can choose from can take the place of a checking account at a traditional brick-and-mortar bank because it comes with coverage from the FDIC and additional features to help you manage your money.

Benefits of the Cards An FDIC-insured Serve account allows you to do a lot more than just make purchases; it also comes with free online bill pay, instant cash transfers, and free ATM withdrawals at more than 30,000 MoneyPass ATM locations. Since you are spending your own money, you won’t accumulate debt or incur overdraft fees. A Serve card likewise offers free early direct store. Amex may credit your account one to two days before your scheduled payment date if your employer submits payroll information sufficiently early, giving you additional time to use your funds.

You can use your mobile device to deposit a check into your Serve account whenever someone pays you. There is no requirement to visit an ATM or the bank. You can also set up direct deposit, which completely automates the process and reduces fees. At the point when you want cash, you can pull out huge totals at Walmart areas and get more money than most ATMs permit in one exchange.

You can also send money for someone else to pick up at their local Walmart, but cash pickups will incur fees.1 How to Add Funds You can add funds to your Serve account in four ways: mobile deposit, direct deposit, bank transfer, or cash deposit at a retailer Employers can electronically transfer your check with direct deposit. Because the standard Serve card waives fees for direct deposits, this is the most cost-effective option. You can make free electronic transfers to your card through most banks.

This program is available nationwide at supermarkets, convenience stores, and pharmacies if you need to deposit cash. Depending on the type of Serve card you use, there may be a fee. Fees A Serve account is free if you set it up online, but it may cost up to $3.95 at retail locations.

Mobile deposits are also convenient, but you may have to wait up to 10 days or pay a small fee before you can spend the money.1 $5 will be required for a replacement card. Unless you have a direct deposit of at least $500 per month, the monthly fee is $6.95. On the off chance that you’re not ready to find a MoneyPass ATM, you might settle up to $2.50 in withdrawal expenses and $0.75 per declined ATM transaction.1

Card Types

Serve cards come in three assortments: the regular Serve card, the Serve Cash Back, and the Serve FREE Reloads. The most widely used standard Serve card is a cheap prepaid card that can be used to get paid, make purchases, and pay bills. For W-2 employees and freelancers who typically receive payment via check or electronic deposit, this may be the best option.

For those who primarily receive their wages in cash and do not have a bank account, the Serve FREE card, which offers free cash deposits for a $6.95 monthly fee, makes sense. The Cash Back card has a $7.95 monthly fee and offers 1% back on purchases without an annual cap. Cash-back remunerations are essentially nonexistent with charge cards — particularly pre-loaded cards — so this is a remarkable contribution. If you load and spend a lot, the Cash Back card might make sense.

All of the Serve card’s benefits are available on the FREE and Cash Back cards.2 Potential Drawbacks Although Serve cards are among the cheapest prepaid cards on the market and come loaded with useful features, they do not come without some drawbacks. Even though a large number of retailers, both online and offline, accept Amex cards, some choose not to do so due to the transaction fees. Sometimes you’ll have to find a different way to pay.

The 10-day hanging tight period for portable look at stores, and the campaign expense is additionally not normal among customary financial records. Frequently Asked Questions (FAQs): How do you send funds with American Express Serve? The majority of banks make funds available sooner, so if you do not have additional cash on hand, you may encounter difficulties.

By accessing the “Money Out” section of your Serve account, you can make an online transfer of funds. You can link a bank account there and transfer money there.

With an American Express Serve card, which ATMs can I use?

With your Serve card, you can use any ATM, but a MoneyPass ATM will save you money. If you don’t, you could end up paying up to $2.50.1 in withdrawal fees. How do you cancel your American Express Serve card?
Transferring any funds that are still in your account is the first step in canceling it. You can simply select “close account” from the settings menu on your primary account’s home screen once your account balance reaches exactly zero. If you need help with this process, you can call customer service.

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