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Brinks 5% Issue

May 17th, 2016 at 04:34 pm

I know I mentioned the Brinks Prepaid Debit Card recently and how it changed. It seems it is required to have $500 Direct Deposited in order to qualify for a Brinks Preferred account. And you can only get the Savings Account paying 5% if you have the direct deposit. So there is a much higher threshold for making this work, than I originally understood. I think I understood you just needed a small deposit from your own account, rather than from an employer. So, I think I'm opting out of this one, unless I can figure a way around.

I did find a link from Maximizing Money about the Brinks Prepaid Card that probably explains it better. It also seems to back up what I understand from the website and the inserts that arrived with the card.

3 Responses to “Brinks 5% Issue”

  1. FrugalTexan75 Says:

    This must be a recent change. I've not received any communication about it.

  2. creditcardfree Says:

    FT, you may be grandfathered to the conditions that were around when you applied.

  3. FrugalTexan75 Says:

    Perhaps so.

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