Univision MasterCard Prepaid card provides a safe alternative to hard cash and therefore is financially more viable than a credit or a debit card. Bancorp Bank in alliance with MasterCard International Inc issues the card. It is accepted at all merchants who accept MasterCard Debit cards. To ensure that the money is not used for terrorism or money laundering it is essential to provide information such as name, birth date, address to verify the identity of the card applicant.
- The applicant needs to be at least 18 years old and be a resident of United States of America or Puerto Rico.
- It is important that the address given should not be a post box address.
- You would have to give your Social Security Number and if the same is available some other identification document such as copy of the passport or driving license.
How Do Get Enrolled?
- To enroll for the card one needs to go to www.univisiontarjeta.com and click on get the Get a card option.
- You need to fill in a simple application form which asks for basic personal details such as your name, address, date of birth, contact number, address, zip code and U.S resident information and Click on “Continue” to go to on new step.
- You have to complete all required steps with appropriate data.
- One can be rest assured about the security of the information provided as the site uses the latest encryption technology.
- The card would be delivered to your address within 10 working days.
How To Add Money To The Card?
- One can add money to the card even without a bank account
- One can add money to the card through cash deposits at the retail partners.
- You can also opt for a direct deposit wherein you inform the employer to deposit either the whole salary or a part of the salary to the card. You can even have your tax refund credited to the card. This saves you the hassle of doing the same on your own making it the safest and fastest way of adding money to your card. Moreover using this facility makes you eligible for a bonus of $ 10.
- You can also opt to pay through checks.
Pros and Cons:
The advantages of this prepaid card are
- You do not overspend as you can only spend the balance that is available on your card
- In credit cards missing the due date attracts heavy penalty while a debit card attracts overdraft charges. With a prepaid card you are free from such worries.
The disadvantages of the card are
- As you can spend only the balance that you have in the card you may fall short of money in an emergency
- It does not improve your credit rating
The Univision MasterCard Prepaid card is much better than carrying cash or credit card and debit card as it is not only safer and economical but also ensures that you spend within your limits thus avoiding falling in a debt trap.