I just got my Skylight Paycard Visa from my current employer. I had never used one before so I read all the material about fees associated with the card.
I used their Surcharge Free ATM finder to find an ATM. It suggest I go to US BANK. I went to US BANK to withdraw money so that I could put into my checking account at my bank since I pay my bills that way automatically. Since it was my first paycheck from a few days of training I only had $61.50.
I knew this ahead of time because I checked my Skylight account online. So when I got to the ATM I tried to withdraw $60, it declined and said insufficient funds. I didn't understand because I knew I had $61.50 in my account. I tried it again, this time withdrawing $40 which it let me do.
US BANK doesn't print your current balance on your receipt so confused about the whole transaction I did a balance inquiry which showed I only had $15 left in my account. 40+15 does not equal 61.50. So where did my other $6.50 go? When I got home I checked my Skylight account online and found out the reason: US bank charged me $2.50 just to withdraw money from the ATM (which is why it wouldn't allow me to withdraw the $60), it then charged me $2 for a decline fee.
When I did a balance inquiry (which is free at my bank) I was charged another $2. This is absolutely ridiculous!!! $6.50 in fees????? I knew some banks would do this but I really very mislead because I used one of the banks ATMs listed on their "Surcharge Free" finder.
I am very disappointed in this card. Luckily I only have to have it a month and then I have the option to give my employer my actual bank routing number to have my paycheck direct deposited into.
When that time comes this card is going bye-bye and the account is being closed. NEVER AGAIN.
Product or Service Mentioned: Skylight Visa Prepaid Card.
Monetary Loss: $7.