In this ACE Elite Prepaid Debit Card review, I examine the ins-and-outs of another prepaid debit card. As with all prepaid cards, you have more control over your money because you may only spend what you put in. Also, they do not inform credit agencies about what you have been up to, which is handy for some people who are already having trouble with their FICO score.
Yet again, I have to review a prepaid card that I suspected was bad because of the toxic venom lingering online (otherwise known as their online reputation). Before I opened my account with Ace, I read a few user reviews. Some comments were so angry that I couldn’t believe my eyes (they were so rage filled that it singed my eyebrows).
ACE Elite Prepaid Debit Card Review – Benefits And Features
- A fee-free $10 overdraft if you have $500 direct deposited monthly
- There is a mobile app that you may use to check your balance
- You can set up balance alerts that are sent to your email or by text
- Reload at Ace Cash express, by direct deposit, with check or with cash
- Load up to $7500 on per day and hold up to $15,000 on your card
- Has an overdraft protection program that comes with a high fee
- Mobile check deposits are free, but they take ten days to clear
- Pay a fee at 7-Eleven and CVS Pharmacy and you can reload instantly
Why Has Grumpy Baby Appeared?
My job is to review bank accounts, credit unions, and prepaid cards by trying them out. When I come across terrible products, I have to tear them down to help you avoid them. If I was “nice” about it, then you may go out and get an Ace prepaid card and spend a small fortune on fees you could have avoided.
There are only two types of people who should use this type of card (they are mentioned later); all other types of people should avoid this prepaid card. I am weary of ranting about prepaid debit cards that are piss poor (an Anglo-English word for terrible), so I am letting Grumpy baby do some of the ranting for me.
ACE Elite Prepaid Debit Card Review – Biggest Selling Point
Honestly, Ace Elite kinda pisses me off. Poor quality products tend to do that to me. They charge fees for everything, including closing your account. I could say their biggest selling point is that you can avoid the $9.95 cost of the card if you get it online, but there are plenty of prepaid companies that do not charge you to buy their card and open an account. There is no way to reload your card quickly without paying through the nose, and every ATM you use will charge you a fee.
People in dire straights tend to use prepaid cards like this one because they cannot get a bank account or a free prepaid account. These are people who have handled their money terribly and are now in real financial trouble. I suppose the biggest selling point is for the shareholders of NetSpend and MetaBank (the companies that run Ace Elite). The biggest selling point is for their shareholders because Ace has found a way of hitting desperate users with inescapable fees.
ACE Elite Prepaid Debit Card Review – Fees And Charges
Is there really a 50 cent fee for checking your balance? I cannot find anything about it in their terms and conditions, or on the ACE Elite Prepaid Debit Card website, but people have left user reviews claiming that they are charged 50 cents for checking their balance. You do not pay that amount if you check it online (so far as I can tell). I have checked my balance on an ATM just today, and I don’t think they charged me. The charge may appear later, or may only apply to certain ATMs. If a charge appears, I will mention it in the conclusion when I finish this review.
$0.50 for live customer support
$0.00 cancellation fee
$5.95 to close your account
$0.50 for automated customer support
$1.00 signature transaction fee
$2.00 for pin transaction fee
$2.50 in-not ATM transaction fee
$2.50 out-of-network transaction fee
$5.95 fee per month if your account is inactive for 90 days
3.5% foreign ATM transaction fee
$5.00 per month to waive their fees
$9.95 to buy the card
I noticed that whenever I called their customer service department, they tried to sell me on an enhanced package deal. For the sake of this review, I took the $5 per month option. They said that I wouldn’t have to pay transaction fees if I set up a direct deposit into the account and paid the $5 per month. The cost of this plan seems to have gone up to $9.95 per month since I took it out for myself
For my ACE Elite FeeAdvantage Plan, what I got for my money was access to their $10 overdraft, and I was able to make free purchases. I was able to sign for ten purchases per month without paying a fee, and use the pin for five purchases without paying. Their justification is that if I buy more than five times per month, then I save more with the FeeAdvantages Plan.
Whom Should Take Note Of This ACE Elite Prepaid Debit Card Review?
If you cannot get a bank account because you were silly with your money, then you should consider getting an ACE Elite Prepaid Debit Card. While writing this ACE Elite Prepaid Debit Card Review, I heard from people who said that the prepaid card is good for foreigners. If you are visiting the USA to work, get married, or study, you may not be able to get a bank account. If that is the case, you can open up a prepaid debit card with Ace Elite and use it either temporarily or until you are able to get a bank account.
User Comments And Reviews
[+] Borrow up to $10 without having to pay an added fee if you have a direct deposit set up that pays into your account every month. The direct deposit must be for $500.
[+] It is a handy card to have if you are a foreigner in the US and you cannot get a bank account. It is a handy substitute until you leave or get a bank account.
[+] If you are not so hot when handling your money, then this card will help you. They will not overdraw unless you sign up for payment protection. Do not sign up for payment protection, and they will never inform credit agencies (be it good or bad news).
[+] You can load up to $7500 onto your card in just one day, which is far better than most others. Many other prepaid cards won’t let you load more than one or two thousand onto your card in one day.
[+] You may have up to $15,000 on your ACE Elite Prepaid Debit Card at any one time. That is very high when compared with Mango and Kaiku who only allow you to have $10,000 on your card. NetSpend allow you to have $15,000 too.
[-] Many of their customer support representatives do not have English as a first language, which makes calling and contacting their support centre very frustrating.
[-] The automated customer service is a rip off. If you do not input the correct selection, then it hangs up on you so that you have to call back and pay again.
[-] The customer service reps will happily talk over you while you are trying to explain what is wrong or trying to explain your problem.
[-] They charge to check your balance. Go to an ATM and check your balance, and they will charge you 50 cents, which will appear on your statement.
[-] Their customer service is outsourced and are powerless to so anything about the extra fees added to your account. They cannot fix things, they can only put in
Conclusion – ACE Elite Prepaid Debit Card Review
An update on the balance fee from earlier. The fee did eventually appear on my statement for checking my balance. The cheeky bastards actually charged me 50 cents just to check my balance at an ATM. Complainers in forums were telling the truth.
Our ACE Elite Prepaid Debit Card Review found that your ACE Elite Prepaid Debit Card will cost you a lot in fees. There are many online forums and user reviews that claim Ace Elite are thieves. I wouldn’t go that far. If you dig around, you can find their fees, but they are a little underhand about the whole thing.
I can understand why some people say they never knew they had to pay a fee to make purchases. There are horror stories of people using the card every day for a full month and racking up almost $100 in purchase fees because they were using the card to buy their morning coffee and then again to buy their lunch at work without realizing they are being charged $1 and $2 for their purchases.
If you are new in the USA and you cannot get a bank account, then an ACE Elite Prepaid Debit Card is a viable option. If you cannot get a bank account because you have a poor credit rating, then you may consider a card with Ace Elite. Otherwise, there are better cards out there for you to try. Ace Elite are too heavy on fees for my liking.