I was just informed by sports.com that they would be sending me a prepaid debit card with my 2500.00 dollar payout on it......I am just wondering if this is easily deposited into a bank account or if it is a huge hassle to do so. Thanks a bunch for your guys help and feel free to post any similar stories about sports.com sending this debit card instead of a damn check
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You would use the debit card at a regular ATM and withdraw that way.
Welcome to SBR forum.Comment -
It's easy to withdraw the money from the card ... you just use it at an ATM and withdraw the money just like a regular bank card.
The downside is that there is about a 3% fee on each transaction, in addition to the dollar or two fee to use the ATM.
So on a $400 ATM withdrawal, for example, you will end up paying a $12 fee (3%) to the company that issues the debit card, plus the dollar or two fee that you would normally have to pay to use the ATM.
The upside is that you will have your cash in hand, with no paper trail.Comment -
One other thing I remember ... I don't think there was a daily limit on withdrawals, because I took several thousand off of the card (through the ATM) in one day without a problem ... so if you withdrew $20K from Sports.com onto the debit card, and you wanted to withdraw it all from the ATM(s) in the same day, I think you probably could.Comment