MoneyWise FAQs (Frequently Asked Questions):

Q: What is the Western Union® MoneyWise™ Prepaid MasterCard®?
A: It is a personalized, reloadable Prepaid Debit card on which your clients can choose to receive their tax refund. The card is reloadable¹ and can be used anywhere Debit MasterCard is accepted, including online and at ATMs².

Q: Is the Western Union® MoneyWise™ Prepaid MasterCard® a credit card?
A: No. To spend money, the cardholder must add money to the Prepaid MasterCard. When a client uses the card, the amount of each transaction, including any applicable service fees, are deducted from the account balance, so there cannot be any overdraft fees or late payment fees. Also, the cardholder cannot overspend and be charged interest with this card.

Q: Can the MoneyWise card help build credit?
A: No, the MoneyWise card does not build credit. The transaction history is not reported to the credit bureaus.

Q: Can the MoneyWise card be used with bank products or in replacement of a check?
A: MoneyWise can be selected as the refund method for a Refund Anticipation Check (RAC) or Refund Transfer. Clients will receive their money loaded onto the card just as fast as direct deposit. However, the card cannot be used with a Refund Anticipation Loan (RAL).

Q: Are there any restrictions on who can receive the MoneyWise card?
A: Yes, due to new state regulations regarding General Purpose Reloadable cards, we are unable to offer the MoneyWise card to residents of CT, VT and NH. All other persons living in the U.S.A. and filing for a tax refund will automatically qualify for the MoneyWise card.

Q: Is the MoneyWise card available for clients using an ITIN (Individual Tax Identification Number)?
A: Yes.

Q: Is there a maximum tax refund amount that can be loaded onto the card?
A: No, any tax refund amount will be accepted and loaded to the MoneyWise card.

Q: Can clients receive their Federal and State tax refund on the card?
A: Yes. Most states allow the taxpayer to deposit their state tax refund into the same account as their Federal tax refund.

Q: How and when will clients receive their personalized MoneyWise card?
A: The card is mailed to the primary taxpayer’s U.S. address 7-10 days after the tax return has been submitted. Typically the tax refund is deposited in 7-14 days from the time the return was approved by the IRS.

Q: Where can the MoneyWise card be used?
A: Anywhere Debit MasterCard is accepted, including online and ATMs.

Q: Is there a fee to select the MoneyWise card as a tax refund method?
A: No, there is no enrollment or activation fee and no fee to have the refund added to the card.

Q: What are the consumer fees associated with the MoneyWise card?
A: The MoneyWise card is one of the most fee friendly cards available. The most common card fees a consumer will encounter are shown below:

Q: Can the MoneyWise card be used to withdraw money at an ATM?
A: Yes². A fee of $1.95 applies to each ATM transaction, in addition to any fees the ATM operator may charge.

Q: How can clients reload money onto their MoneyWise card?
A: There are 4 easy ways to add money to the card:

1. Sign up to have payroll or government benefits direct deposited onto the card for free³.
2. Add cash at a participating Western Union Agent location.
3. Receive a Western Union Money Transfer® transaction onto the card, for free.
4. Transfer money from a bank account to the card.

Q: What support is available to clients using the MoneyWise card?
A: Cardholders have access to free live and automated Customer Service via a toll-free number listed on the back of the card. There are also several client resources available online at www.westernunion.com/mymoneywise including the ability to track their tax refund.

Q: Can clients track their balance and purchase transactions?
A: Yes, cardholders can track their balance and transactions online, by phone, through e-mail or even SMS text messages⁴.

Q: What if the MoneyWise card is lost or stolen?
A: The funds are protected by MasterCard’s Zero Liability policy*. Clients should call 1-866-953-6411 if the card has been lost or stolen.

Have more questions? Email us at moneywise@westernunion.com.

The Western Union® MoneyWise™ Prepaid MasterCard® is issued by The Bancorp Bank pursuant to license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.

*MasterCard’s Zero Liability Policy covers U.S.-issued cards only and does not apply to the cost of replacing the card, ATM transactions, PIN transactions not processed by MasterCard, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or click here. Refer to Cardholder Agreement for fees on card use, replacement and card account closure. Certain conditions and exceptions apply.

¹ Load transactions (i) that exceed certain dollar amounts or (ii) that implicate certain regulatory issues may be restricted by us as outlined in the individual Cardholder Agreement.

² Cash access is only available upon successful identification verification. Maximum cash withdrawal limit is $500 per day.

³ Card subject to load and account balance limits. Transactions causing balance to exceed a limit will be denied. Only certain funding sources may send direct deposits to the card. Funds availability subject to funding source’s timing of direct deposit.

⁴ Standard message and data rates may apply

© 2010 Western Union Holdings, Inc. All Rights Reserved.

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