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Univision MasterCard: Read This before Applying!

by on July 18, 2011

The Univision MasterCard is one of the best prepaid debit cards available. Usually, we do not recommend that you get a prepaid debit card, because they have a number of hidden fees and charges. However, the Univision MasterCard has very few fees, and those that it does have are easy to understand. If you don’t have a checking account at a bank, the Univision MasterCard is one of your best options.

Advantages of a prepaid debit card

Let’s start with the advantages that both prepaid debit cards and regular debit cards have over cash and credit cards. If you lose your card, you will receive a refund from your bank or the prepaid card issuer, so it’s safer than carrying around cash. And unlike a credit card, you don’t need a credit check or credit history, and you can’t spend money you don’t have. For someone who doesn’t have a bank account, prepaid debit cards can bring convenience and security. However, if you are willing, we generally recommend that you open a checking account with a bank, since these tend to have fewer fees.

The Univision MasterCard, in particular, has some advantages over other prepaid debit cards. You receive free direct deposit, so your employer can transfer your wages directly onto the card at no additional charge. You can use the card anywhere that you’d use a debit or credit card, make bill payments online, by phone or in person, and withdraw from in-network ATMs, also at no cost. The major fee is the $9.95 monthly maintenance fee, though there are optional charges like out-of-network ATM withdrawals.

Most other prepaid debit cards charge high hidden fees, like a $2 ATM withdrawal fee, a $10 enrollment fee, or even a $0.50 fee every time you use the card. The Walmart MoneyCard, one of the cheapest prepaid debit cards, costs on average $21 a month. More expensive cards like the NetSpend Pay-as-you-Go can cost over $40 a month. The Univision MasterCard is one of the best prepaid debit cards, especially if you need direct deposit.

Univision MasterCard compared to checking accounts

Because the monthly fee is the only one you’re likely to incur, we think that the Univision MasterCard can actually be cheaper than some checking accounts. Chase’s checking account has a $10 monthly fee unless your average daily balance is over $1,500, while TD’s monthly fee is $14 unless you have at least $100 at all times. The Univision MasterCard is significantly cheaper than both of those.

However, there are some less expensive options: Free checking accounts abound, and you can even earn interest or rewards on some of them. So while the Univision Prepaid is better than many other cards out there, it’s hardly the best.

Don't get burned by prepaid debit fees!
Use our prepaid card finder to save money and find better deals.
Don't get burned by prepaid debit fees!
Use our prepaid card finder to save money and find better deals.
Don't get burned by prepaid debit fees!
Use our prepaid card finder to save money and find better deals.
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  • Delatorrenicole51

    i want to now if you can use this card in ecuador

    • http://www.nerdwallet.com/ NerdWallet

      You should be able to use it in Ecuador – it’s accepted anywhere that MasterCard is.

  • Jose Garcia

    But the Univision cards charges $1.00 per online bill payment and that sucks

  • Martin Hooks

    how can I use the card to receive moneygram payment from my family?

  • alberto

    Well, well, well….I got a Univision prepaid debit card when I’ve hear Don Franciso saying that there were no fees for carrying or using the card…now I read that there is a $9 + monthly fee…What’s this? false or fake advertising…I’d like to know…if that’s the case I’d cancel it and call my lawyer.
    Alberteacher

  • AGon.

    On 9/5/13 I purchased a Green Dot MoneyPak for $250. I then loaded the funds onto my Univision MasterCard Prepaid Card which is issued by The Bancorp Bank. The next morning I received an email that my account had been suspended because of suspicious activity. I called Univision Card Services and was told I needed to send them documents to verify my account. In total, I have sent them a copy of my state ID, social security card, a billing statement, my most recent tax return as well as a copy of my Experian credit report. I was then told to call back in 3 business days. After 5 full days I was told they needed more time and I had to call back in another 48 hours. Then on 10/23/13, I was told I needed to resend several of my documents because they were “not clear.” I did exactly what was asked of me and later on that same day I received an email acknowledging the documents I had sent and stating “The department in charge has reviewed the documents you sent and the resolution is that the account will remain closed” from Marlon of Univision Cardholder Services. I then called Univision and a person who identified himself as “Alex” confirmed that my account was now closed and I will now need some type of verification letter from American Express to have my funds returned to me. I explained to Alex that American Express had never been used and the account was loaded by a prepaid MoneyPak that I had purchased with cash. I offered to send the receipt as proof. I was then told that their verification department did not accept my documents and I needed to “go to the Police Department or Courthouse and get a letter from them verifying my identity.” I then had to remind this person that I have already submitted a valid ID, social security card, tax return and credit report to them. After being placed on hold again the customer service agent apologized and said what he had told me beforehand was wrong. He then informed me that I would not be able to get any of my money returned to me. I was never given a reason and when I asked to speak with “the department in charge” I was told that wasn’t possible. I then asked to speak with a supervisor and Carolina just gave me the same lines I had gotten before. She indicated that my money would be sent to the State of California and I had to claim it from them. I cited the Amendment and Cancellation section from the Cardholders Agreement that clearly states, “In the event that your Card Account is cancelled, closed, or terminated for any reason, you may request the unused balance to be returned to you via a check to the mailing address we have in our records.” When I asked them to close my account and mail me a check for my remaining balance, they refused. She stated that my account is not closed but rather just suspended and will continue to be charged a monthly service fee of $9.95 every month for as long as there is a balance. When I asked when they would send my balance to California she could not give me an answer. When I asked to speak with anyone from the United States, she offered me a fax number. When I asked for the name of the person I spoke with earlier she said his name was Jairo, not Alex as he stated. I have continually been given inaccurate and confusing information from this company. So as of right now I am currently stuck in limbo with no foreseeable way to get my money returned to me. After 52 days, 263 minutes on the phone and 9 emails for verification documents I still have not been given an explanation as to why my account had been suspended and closed. Univision Card Services has wrongfully seized my funds and is committing fraud through their unfair and deceptive business practices.

  • Jay

    This company is a scam please dont use them you will steal your funds

  • Daniel

    This company just hold my $990 loaded from monepak, actually $1000 for 5 days now, asked me to send in my documents which I faxed and was told they cant still release the hold on my card. For crying out loud, I loaded a moneypak not someone loaded money for me.. The company is a real scam, use your money… DONT GET THE CARD. AMEX PREPAID MUCH BETTER.

  • Daniel872

    This card is perfect. Never had a problem since i got back in like 2012… Ive always reloaded with western union.. One or twice with moneygram, dont really trust moneypak… Never have i had money on hold or anything, honestly best prepaid card ive ever used… Has anyone ever tried direct deposit for their tax refund??? Thinking of trying it out just tryna got some outside input before, so i can decide.