Any prepaid debit card will have several conveniences for the cardholder. But there might be a reason why you would want to transfer the money from this card to an existing bank account. If you have been issued an Emerald Card and want to send some or all of its balance to your banking account, we can help you. We researched this card from multiple professional sources, so you'll know what steps to take.
You can transfer money from your Emerald Card to your bank account by following a few simple steps. Before transferring funds, you must link your existing bank account to your Emerald Card account.
Now that we know that you can transfer money from an Emerald Card to your bank account, we'll take a closer look at how this process works. You might also be curious how much you can withdraw from your Emerald Card in one day or if the Emerald Card can be used at an ATM. For the answers to these questions and more, read ahead in this post to see what our research has uncovered.
How to get money from your Emerald Card into your bank account
You might need to get some or all of your Emerald Card balance into your checking or savings account. While this process will take a few steps, it's not a process that is very complicated.
Linking your Emerald Card directly to your bank account is the easiest way to transfer funds.
When you create your Emerald Card account, you will have the option to link it with a bank account. We suggest doing this immediately, as this will be already in place whenever you have a balance on your Emerald Card.
You will need a few pieces of information to link your bank account to the Emerald Card. Your name, date of birth, and other identifying information will be used. But you will also need to give Emerald information about your bank account.
Have your bank account's routing number and account number handy. The routing number is a nine-digit identification number specific to the bank you have an account with. The account number could be any one of several digits long and is unique to your account
Other methods of taking money from the Emerald Card can be costly.
The other method of transferring money from your Emerald Card to your bank account is also simple, but one that will cost you fees. You can withdraw cash from the Emerald account at an ATM or by taking it into your bank branch and having them run a transaction from it. The cash that you get can then be deposited into whatever bank account you wish.
This method will expose you to ATM fees and transfer fees. We found that it's best to link your account and freely transfer the money from Emerald to your bank in this manner.
How much can you withdraw from your Emerald Card in one day?
Like most any debit card, you will have a daily withdrawal limit if you use your Emerald Card to get money from a cash machine. But while most bank-issued debit cards will have daily withdrawal limits as low as $300, you'll find that the Emerald Card will allow for much larger withdrawals.
Emerald will let you take as much as $3,000 daily from your prepaid debit card account. This can be taken from a good number of ATMs, though there will typically be a fee to use one.
The limits associated with withdrawing from the Emerald Card involve safeguards against fraud. They also are in place so that an ATM will not be depleted of necessary funds to service multiple customers.
Can the Emerald Card be used at any ATM?
The Emerald Card will give you access to your cash through an ATM. But you'll find out that not every ATM will accept this card.
While the Emerald Card will be honored at the majority of ATMs you will encounter, only ones accept Mastercard. When using it as a debit card to purchase goods, you must also make sure that the business accepts Debit Mastercard.
Be aware that using an Emerald Card at an ATM will probably lead to deducting fees. While there are no fees to withdraw cash from an in-network ATM, these machines can be hard to locate for some consumers. Many have to pull money from an ATM that is out of network, which Emerald will access you $3 for. This will be in addition to any fee that the ATM owner will tack on for the convenience of using their ATM.
How do I transfer money from my Emerald Card to Venmo?
Venmo has grown in popularity over the last several years, giving individuals an easy and convenient way to transfer funds out of their bank account and into another person in just moments. By using the Venmo app, you can send and receive money quickly. Venmo will also let you load money into your Venmo account by authorizing a transfer to a bank account you have linked to it.
There is also a way for you to transfer money to your Venmo account by linking your Emerald Card to this app. You'll need your card information to do this.
Venmo will allow any prepaid debit account to be linked to their service, so long as it is affiliated with Mastercard. As Emerald Cards are in the Mastercard network, you will have no issue establishing a link between it and Venmo.
What fees are associated with Emerald Cards?
If you are using a prepaid debit card, it's important to know and understand how that card's fee structure works. Not having a working knowledge of them can cost you dearly, slowly draining your account of the funds over time.
An Emerald Card has a $0 monthly activity fee. So if you are using your card, you won't have to pay a fee for the privilege of having an account. But that doesn't mean that they won't have fees associated with how you use that card. For example, if you use an ATM for a balance inquiry, you will get charged a minimum of $1.50. We suggest calling the customer service number on the card to avoid this fee and getting your balance from the automated line.
You will have a fee of $4.95 to load more cash onto your card. And if your card has more than 60 days of inactivity, you will be assessed a fee of 4.95 per month. Should an ATM decline your transaction, you get hit with a fee of $1.50.
Finally, over-the-counter transactions, like using the card to withdraw its funds at your bank, will subject you to a $35 transaction fee.
Transferring money from your Emerald Card account to your bank account is easiest if you have already linked your banking information to the Emerald Card. Like many debit cards, the Emerald Card imposes a daily withdrawal limit. They will also be subjected to fees at most any ATM that accepts this card. Plan your withdrawals wisely so that fees can be averted.
We hope this post on the Emerald Card answered all of your questions. For additional helpful information, we suggest reading the following posts: